PURPOSE
The Entrepreneurship certification is designed to document the acquisition of basic knowledge and skills required for the successful entrepreneur who has started a small business or is considering doing so.
AUDIENCE
This credential is appropriate for the business professional that has started or is thinking of starting a small business endeavor.
JOB/CAREER REQUIREMENTS
Successful entrepreneurs must understand the overall business market and how the new business service or product fits in. They must fully understand business development, financial management, staffing, the legal environment, sales and marketing, and how to manage and lead the organization. These credentials document development of knowledge and skills required for successful start up and ongoing management of a small business endeavor. The successful entrepreneur must understand the various options for starting a small business and how this business fits into the business market as a whole. Important areas of expertise include writing a business plan, analyzing a business opportunity, conducting marketing research and writing a marketing plan, developing an effective sales strategy and creating an excellent customer service plan, managing the costs of the business, developing and analyzing financial statements, managing the cash flow and taxies of the business, financing the business, ensuring compliance with the applicable laws and regulations, managing the business’s risk, and conducting daily operations that leads to an effectively and efficiently run organization. The successful entrepreneur must also be an effective manager as well as an inspiring leader.
ENTREPRENEURSHIP WORKPLACE TASKS:
- Develop and write a well-researched business plan for a start-up business
- Define and analyze a business opportunity
- Research, analyze, and create a marketing plan
- Develop a sales strategy
- Develop an effective customer service plan
- Manage the business’s fixed and variable costs of the business
- Create and analyze the business’s financial statements
- Manage the cash flow of the business
- Manage the taxes of the business
- Analyze financial sources for funding the business
- Manage the legal environment for the business
- Manage the business’s risk
- Implement strategies for daily operations such as staffing, training, supply chain, quality control, and technology
- Lead the business to success
EXAM STRUCTURE OVERVIEW
Number of Questions in Exam: 80
Total Time: 90 minutes
Overall Passing Score: 70%
(All sections require an individual passing score of 70%)
