- Course type: Self-paced
- Available Lessons: 104
- Average Lesson Length: 8 min
Eligible for Credit: Yes
Earn transferable credit by taking this course for credit.
Watch a preview:chapter 1 / lesson 1What is an Entrepreneur? - Definition, Characteristics & Examples
Course SummaryBusiness 121: Introduction to Entrepreneurship has been evaluated and recommended for 2 semester hours and may be transferred to over 2,000 colleges and universities. In this fun course, you'll find engaging lessons and multiple-choice quizzes and exams that improve your entrepreneurship knowledge and set you on the path toward earning your degree.
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The course objective is to give you a thorough introduction to the concept, considerations, and practices of entrepreneurship by covering topics such as business opportunities, finance, planning, ethics, and risk-taking.
Your grade for this course will be calculated out of 300 points. The minimum score required to pass and earn real college credit for this course is 210 points, or an overall course grade of 70%. The table below shows the assignments you must complete and how they'll be incorporated into the overall grade.
|Proctored Final Exam||200|
Quizzes are meant to test your comprehension of each lesson as you progress through the course. Here's a breakdown of how you will be graded on quizzes and how they'll factor into your final score:
- You will have 3 attempts to take each quiz for a score.
- The highest score of your first 3 attempts will be recorded as your score for each quiz.
- When you've completed the course, the highest scores from your first 3 attempts at each quiz will be averaged together and weighed against the total possible points for quizzes. For instance, if your average quiz score is 85%, you'll receive 85 out of 100 possible points for quizzes.
- After your initial 3 attempts, you can take a quiz for practice as many times as you'd like.
- You will need to pass each quiz with a score of at least 80% to earn course progress for the lesson. However, it is not necessary to earn 80% within the first three quiz attempts.
Proctored Final Exam
The proctored final exam is a cumulative test designed to ensure that you've mastered the material in the course.
- You'll earn points equivalent to the percentage grade you receive on your proctored final. (So if you earn 90% on the final, that's 180 points toward your final grade.)
- If you're unsatisfied with your score on the exam, you'll be eligible to retake the exam after a 3-day waiting period.
- You can only retake the exam twice, so be sure to use your study guide and fully prepare yourself before you take the exam again.
Items Allowed on Study.com Proctored Exam for Business 121: Introduction to Entrepreneurship
- A non-graphing, scientific calculator
- Blank scratch paper
- Pen or pencil
Items NOT Allowed on Study.com Proctored Exam for Business 121: Introduction to Entrepreneurship
- Graphing calculators
- Office programs, web browsers, or any programs other than Software Secure (including Study.com lessons)
- Textbooks (digital or physical)
- Mobile phones, headphones, speakers, TVs, radios
- Notebooks or notes
Upon completion of this course, you will be able to:
- Explain the role and importance of entrepreneurs to the United States and the global economy.
- Summarize the necessary steps for starting a business, such as choosing a business model, a business type and a location.
- Identify windows of opportunity from economic, technological, competitive and social standpoints.
- Discuss how account market analysis, financial planning and feasibility planning factor into creating a business plan.
- Break down the sources of financing for entrepreneurs, such as loans, mortgages, angel investments and venture capitalism, and weigh the pros and cons of each.
- Describe the pieces of the financial planning process including income statements, statements of cash flows and balance sheets.
- Explain legal consideration for entrepreneurs, such as copyright, trademark and patent infringement, as well as environmental and employment law.
- Assess the importance of establishing a code of ethics and social responsibility within a business.
- Determine how to develop a marketing plan to enhance a business's competitive advantage.
There are no prerequisites for this course.
Business 121 consists of short video lessons that are organized into topical chapters. Each video is approximately 5-10 minutes in length and comes with a quick quiz to help you measure your learning. The course is completely self-paced. Watch lessons on your schedule whenever and wherever you want.
At the end of each chapter, you can complete a chapter test to see if you're ready to move on or have some material to review. Once you've completed the entire course, take the practice test and use the study tools in the course to prepare for the proctored final exam. You may take the proctored final exam whenever you are ready.
How Credit Recommendations Work
This course has been evaluated and recommended by ACE for 2 semester hours in the lower division baccalaureate degree category. To apply for transfer credit, follow these steps:
- If you already have a school in mind, check with the registrar to see if the school will grant credit for courses recommended by either ACE or NCCRS.
- Complete Business 121 by watching video lessons and taking short quizzes.
- Take the Business 121 final exam directly on the Study.com site.
- Request a transcript to be sent to the accredited school of your choice!
- Check out this page for more information on Study.com's credit-recommended courses.
|Entrepreneurship in the Economy||Learn about entrepreneurial characteristics and the importance of entrepreneurship in the economy. Understand the role of small businesses in the American economy and global market.|
|Business Basics for Entrepreneurs||Outline the fundamentals of business. Learn what factors are needed to start and manage a business. Understand business trends and the importance of innovation in business.|
|Types of Business Structures||Define the different types of business structures, including sole proprietorships, LLCs, corporations and franchises.|
|Dynamic Business Environments||Define market size and understand how businesses identify windows of opportunity. Analyze several business environments, including economic, technological, competitive social and global environments.|
|Business Plans for Entrepreneurs||Understand the importance of business plans and learn how to write one. Define business goals and outline the process for analyzing markets, planning finances and developing a feasibility plan.|
|Business Financing for Entrepreneurs||Identify sources for long and short-term financing and opportunities for funding. Learn about longs, mortgages promissory notes, cash flow, debt capital and equity capital.|
|Financial Planning for Entrepreneurs||Explore the process of financial planning for businesses and break down the components of income statements, cash flow statements, balance sheets, sales forecasting and budgeting.|
|Accounting Basics for Entrepreneurs||Evaluate the importance of accounting and the Generally Accepted Accounting Principles. Understand how technology impacts accounting and explain the entire accounting cycle.|
|Understanding Business Taxes||Explore tax structure, U.S. tax code and different types of taxes, including payroll tax, property tax, sales tax and income taxes.|
|Business Law for Entrepreneurs||Understand important business law topics related to startups and entrepreneurs, including contract law terms, intellectual property law, infringements, HRM laws and employment laws.|
|Overview of Business Ethics||Learn why ethics are important for contemporary businesses. Explain ethical business standards, social responsibility and the code of business conduct.|
|Marketing & Sales Strategies||Recognize the elements of a marketing plan and explore strategic marketing concepts. Learn the profit maximization theory, as well as effective brand and sales strategies.|
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What to Expect For the Exam
This Study.com course has been evaluated and recommended for college credit. Once you've completed this course, you can take the proctored final exam and potentially earn credit. Follow the steps below to take the exam.
Before taking the exam, all of the following requirements must be met:
|A College Accelerator Study.com membership.|
|Completed the entire Business 121: Introduction to Entrepreneurship course and achieved 100% Course Progress.|
|Not attempted to take this exam within the last three days.|
|Have available proctored exams in this month of membership.|
|Complete the exam readiness quiz.|
Please complete all of the pre-requirements in the Pre-Exam Checklist in order to take the exam.
Exam Process Details
1. Register For Exam
Registering for the exam is simple. First, be sure you meet the system requirements. Next, you'll need to agree to the academic integrity policy. Then just confirm your name and the exam name, and you're ready to go!
2. Download Software Secure
You'll receive an unique access code. Please write this down — you'll need it to take the exam. Then download Software Secure and follow the installation instructions.
3. Take Exam
The exam contains 50 - 100 multiple choice questions. You will have two hours to complete the exam, so don't start until you're sure you can complete the entire thing. And remember to pace yourself!
4. Get Exam Results
We will send you an email with your official exam results within 1 to 2 weeks.
Earning College Credit
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To learn more, visit our Earning Credit Page
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