Entrepreneurship and Small Business

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Overview

ESB is the first certification product in the new Certiport Business Fundamentals Certification Program. The ESB exam is intended for use primarily in academic settings including secondary schools, vocational schools, community colleges, and technical colleges.
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The ESB certification is built to test and validate foundation-level concepts and knowledge in entrepreneurship and small business management. These core concepts include entrepreneurship; recognizing and evaluating opportunities; planning for, starting, and operating a business; marketing and sales; and financial management.
Objective Domains
The Entrepreneur
  • Identify the characteristics of entrepreneurs
  • Given a scenario including a selfassessment outcome, identify the strengths, weaknesses, and risk tolerance the selfassessment identifies and how to compensate with services
  • Given a scenario, recognize a business opportunity
  • Identify the risks, benefits, opportunities, and drawbacks of being an entrepreneur
Opportunity Recoginition
  • Identify the benefits and drawbacks of different types of opportunities (e.g., start a new business, buy an existing business, and buy a franchise)
  • Given a scenario, analyze the demand for the goods or service and opportunities in an environment
  • Given a scenario, identify the customers or potential customers for a business
  • Given a scenario, recognize a value proposition
Starting a business:
  • Identify the purposes and value of a business plan
  • Identify the appropriate legal structure, benefits and drawbacks for different legal structures for a business
  • Given a scenario, identify different types of licenses and regulations that are required
  • Identify the benefits and drawbacks of various sources of start-up funding: Equity (friends/family, angels, venture), Debt (bank, credit cards, personal loans), and Grants (government, foundation, corporate)
  • Given a scenario, identify support that is available for the business on a local, state, and federal level
  • Identify the ethical practices and social responsibilities of a business
  • Identify potential exit strategies for a business
Business operations:
  • Given a scenario, identify key positions and human capital needs(including compensation and benefits)
  • Given a scenario, determine whether work can be completed by the owner or whether employees or service providers are needed2
  • Given a scenario, identify the taxes that are required
  • Given a scenario, identify intellectual property issues of trademarks, copyrights, and patents
  • Given a scenario, identify standard operating procedures (e.g., setup, conduct, internal controls, separation of duties)
  • Given a scenario, identify the factors that lead to sustainability
  • Given a scenario, identify milestones as part of a growth strategy
Market and sales:
  • Given a scenario, develop a sales strategy and identify characteristics of a successful sale
  • Given a scenario, identify and analyze the costs/benefits of finding customers
  • Given a scenario, identify how to retain customers and develop a relationship with repeat customers
  • Given a scenario, determine value and methods of communication including: web sites, brochures, social media, and advertising
Financial Management:
  • Given a scenario, interpret basic financial statements such as income statements and balance sheets
  • Given a scenario, identify the factors that influence credit ratings and the importance of a positive credit rating
  • Given a list of expenses, identify which are fixed versus variable
  • Given a scenario, identify the factors that impact the price to the customer
  • Given a scenario, identify and analyze cash flow including: accounts receivable, accounts payable, inventory, and debt
  • Given a scenario, create a cash flow budget
  • Given a scenario, identify the break-even point for the business
Badging
digital-badging

Digital badges
Digital badges are web-enabled versions of a credential, certification or learning outcome. Representing your credential as a badge gives you the ability to share your skills online in a way that is simple, trusted and can be easily verified in real time.

esb-iconYour ESB certification validates foundational-level understanding of core concepts related to starting or running a small business. Your digital badge makes it easy for you to promote these abilities to potential customers, investors, or even future employers on social media sites such as LinkedIn, Facebook and Twitter, as well as email and online portfolios. Individuals can click on your badge to verify and learn more about the details of your Entrepreneurship and Small Business knowledge and certification.

Flash your badge
Acclaim is the digital badging platform used by Certiport. It helps students move forward professionally by quickly establishing credibility for opportunities in higher education and the job market. Each badge contains verifiable data that tells employers and admission committees what you did, who says you did it, and why it matters. What does this mean for you? Watch the video to find out.

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