National Eship Standards

The five stages of the entrepreneurial process, along with the individual traits and behaviors associated with the successful entrepreneur, comprise the set of “Entrepreneurship Skills” listed in the National Content Standards for Entrepreneurship Education.

There are fifteen major standards, which are divided into the following three major sections:

Entrepreneurial Skills: The unique traits, behaviors and processes that differentiate an entrepreneur from an employee or manager.
Ready Skills: The business, or entrepreneurial, knowledge and skills that are prerequisites or co-requisites for the study of entrepreneurship.
Business Functions: The business activities performed in starting and running a business.

The five stages of the entrepreneurial process (below), along with the individual traits and behaviors associated with the successful entrepreneur, comprise the set of “Entrepreneurship Skills” listed in the National Content Standards for Entrepreneurship Education.

Summary Standards

Five Stages of the Entrepreneurial Process

Discovery: the stage in the entrepreneurial process in which the entrepreneur generates ideas, recognizes opportunities, and determines the feasibility of ideas, markets, ventures, etc.
Concept Development: The stage in the entrepreneurial process in which the entrepreneur plans the venture, identifies needed resources using a business plan, identifies strategies to protect intellectual property, etc.
Resourcing: The stage in the entrepreneurial process in which the entrepreneur identifies and acquires the financial, human, and capital resources needed for the venture startup.
Actualization: The stage in the entrepreneurial process in which the entrepreneur operates the venture and utilizes resources to achieve its goals/objectives.
Harvesting: The stage in the entrepreneurial process in which the entrepreneur decides on the venture’s future (growth, development, demise).

National Eship Standards

The five stages of the entrepreneurial process, along with the individual traits and behaviors associated with the successful entrepreneur, comprise the set of “Entrepreneurship Skills” listed in the National Content Standards for Entrepreneurship Education.

Five Stages of the Entrepreneurial Process

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