Microsoft Word - Technical Standards Business Management ...



BUSINESS MANAGEMENT, 52.0200.001.0DEMONSTRATE PERSONAL FINANCE PRACTICES1.1Explain how education, career choices, and family obligations affect future income1.2Determine short- and long-term financial goals and plans, including income, spending, saving, and investing1.3Compare the advantages and disadvantages of using various forms of credit and the determinants of credit history1.4Explain the risk, return, and liquidity of short- and long-term saving and investment vehicles1.5Explain the role of entrepreneurs and their importance to the economy1.6Identify investment options available to individuals and households, e.g., stocks, bonds, mutual funds1.7Analyze the foundations of Economics, e.g., scarcity, factors of production, productivity, production possibilities curve, opportunity costs and trade-offs1.8Compare current economic systems of the United States and the world, e.g., Capitalism, Socialism, Communism, mixed1.9Describe the functions of markets, e.g., supply and demand, price floors and ceilings, competition, monopolies2.0DEMONSTRATE BUSINESS AND FINANCIAL MANAGEMENT PRACTICES NEEDED FOR AN ENTERPRISE2.1Compare and contrast three types of business ownership: sole proprietorship, partnership, corporation2.2Explain a budget for an enterprise2.3Explain how various financial statements are used for decision-making and planning, e.g., income statement, balance sheet, cash flow statement2.4Examine banking services, e.g., merchant services, credit lines, types of accounts2.5Describe the impact of quality business communications on the success of an organization2.6Identify customer relations issues3.0DEMONSTRATE MARKETING CONCEPTS3.1Explain marketing terminology and concepts, e.g., target market, marketing mix/4Ps, market segmentation3.2Differentiate between internal and external markets3.3Distinguish between economic goods and economic services3.4Identify the components of a marketing plan3.5Explain how unit costs and unit sales pricing affect net income3.6Explain how volume affects unit costs and unit sales pricing3.7Analyze how advertising influences consumer choices3.8Describe how businesses compete for market share3.9Explain how market research impacts the success of a business4.0DEMONSTRATE GENERAL MANAGEMENT PRACTICES4.1Explain management functions, e.g., planning, organizing, implementing, and controlling4.2Compare and contrast vertical and horizontal management structures in organizations4.3Explain the role of senior, middle, and entry levels of management4.4Describe management’s role in demonstrating leadership, motivating employees, resolving conflict, and addressing stress4.5Compare and contrast leadership styles4.6Assess how a business’ responsibility to employees, shareholders, society, and the environment affects business decisions4.7Explain the difference between business risk and risk management4.8Identify the impact of cultural and social environments on world trade4.9Explain international trade4.10Examine the impact of business cycles on the economy and business activities4.11Explain the impact of fiscal and monetary policy on the business cycle and the economy4.12Describe how government policies influence business management decisions, e.g., worker and consumer regulations, environmental protection, market regulations4.13Define economic indicators and trends, e.g., GDP, CPI, Inflation, Unemployment5.0DEMONSTRATE HUMAN RESOURCE MANAGEMENT FUNCTIONS5.1Analyze current and future staffing needs of a business5.2Develop job descriptions and employee tasks for an organization5.3Utilize appropriate mediums to identify candidates for available positions5.4Explain the selection process of candidates5.5Describe the new-hire orientation process regarding organizational policies and procedures, job roles and responsibilities, and employee rights5.6Describe the importance of understanding workplace culture and professionalism5.7Explain the process of monitoring and assessing employee performance5.8Explain disciplinary actions and dismissal procedures5.9Explain how ergonomics impacts the health, safety, and productivity of the workforce6.0PERFORM PROJECT MANAGEMENT FUNCTIONS6.1Identify analytical and statistical tools used in project planning, e.g., GANTT6.2Determine specific, measurable, achievable, realistic, and time-bound (SMART) goals for a specific project6.3Develop project plans, milestones, and timelines6.4Examine the importance of scheduling employee work assignments and allocating resources to achieve project goals6.5Evaluate project progress an goals7.0USE ACCOUNTING INFORMATION AND FINANCIAL ANALYSES TO MAKE BUSINESS DECISIONS7.1Evaluate and process accounts receivable and accounts payable against an organization’s goals7.2Prepare and process payroll documents and checks7.3Compare and interpret financial reports (income statement, balance sheet, cash flow statement, net worth statement) used to analyze risk and return to make business decisions7.4Prepare comparative (actual vs. budgeted) income statements7.5Prepare, analyze, and use budgets to guide financial decision-making7.6Determine financing options available for business8.0USE COMPUTERIZED INFORMATION SYSTEMS AND TECHNOLOGY8.1Identify ways that technology impacts business8.2Utilize appropriate hardware and software to generate business communications and reports, e.g., word processing, spreadsheet, database, graphics8.3Demonstrate appropriate use of electronic communications and technology in business8.4Use multimedia software to generate and deliver presentations8.5Use desktop publishing to design marketing materials8.6Demonstrate web search skills to research business issues8.7Describe the significance of digital advertising and E-commerce in a global marketplace8.8Explain the positive and negative aspects of using social media within an organization8.9Explain options for cyber and videoconferencing ................
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