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Analyze the relationship between business and the economy
Assessment Strategies
Case Study, Scenario, Role Play, Written Product, and/or Exam
Criteria
Specify the main participants and activities of business
Apply terms such as economy, business, product, profit, supply, and demand accurately
Describe the role of supply, demand, and competition within a free enterprise system
Summarize different types of economic systems
Determine the impact of a healthy and unhealthy economy on business
Define the role of the entrepreneur
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Investigate marketing strategies, market segmentation, buying behavior, and the marketing mix
Assessment Strategies
Case Study, Scenario, Role Play, Written Product, and/or Exam
Criteria
Describe the influence of marketing on buying behavior
Compare marketing segments
Examine the role of marketing research in influencing buying behavior and marketing decisions
Identify environmental factors and/or forces that influence marketing decisions
Analyze factors and decisions that make up the marketing mix
Describe how products are developed, classified, promoted, and distributed
Identify pricing strategies that align with profitability
Identify factors affecting distribution decisions, such as marketing channels and intensity of market coverage
Determine adjustments to a company’s marketing plan
Specify the activities involved in promotion, as well as promotional strategies and promotional positioning
Analyze marketing strategy based on of the “4 Ps” of marketing (product, price, place, promotion)
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Analyze the financial performance of a company
Assessment Strategies
Case Study, Scenario, Role Play, Written Product, and/or Exam
Criteria
Describe the role of the accounting process in producing financial information
Differentiate between balance sheet, income statement, and statement of cash flow
Analysis includes interpretation and summary of the “Big 3” financial statements (balance sheet, income statement, statement of cash flow)
Defend the use of financial statements for determining health of a business
Use financial ratio analysis
Analysis assesses the company’s current and future performance
Explain the importance of ethics in accounting
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Describe common structures of a business organization
Assessment Strategies
Case Study, Scenario, Role Play, Written Product, and/or Exam
Criteria
Specify components of at least two different organizational structures
Describe how specialization and departmentalization assist businesses in achieving goals
Determine how organizations assign responsibility for tasks and delegate authority
Compare and contrast common forms of organizational structure
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Evaluate organizational culture, structures, communication, leadership, and decision-making
Assessment Strategies
Case Study, Scenario, Role Play, Written Product, and/or Exam
Criteria
Describe the role of organizational culture in assisting businesses achieve goals, facilitating strategic objectives, and attracting employees
Analyze the use of group and team structures within an organization
Describe advantages and disadvantages of working in teams
Identify the types of groups that exist in organizations
Compare characteristics of leaders
Describe how communication occurs in organizations, specifically in assigning responsibility, resolving disputes, and decision-making
Relate organizational culture to attracting talent
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Evaluate the ethics and social responsibility of business practices and decisions
Assessment Strategies
Case Study, Scenario, Role Play, Written Product, and/or Exam
Criteria
Compare and contrast individual (personal) ethics and business (professional) ethics
Explain the four dimensions of social responsibility
Evaluate an organization’s social responsibilities to owners, employees, consumers, the environment, and the community
Identify strategies to promote or facilitate ethical behavior in business organizations
Scenario and/or case study response identifies legal considerations
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Explain a service and manufacturing business’s operations, supply chain, and logistics
Assessment Strategies
Case Study, Scenario, Role Play, Written Product, and/or Exam
Criteria
Define operations management
Differentiate between operations and manufacturing
Explain how operations management differs in manufacturing and service firms
Describe the elements involved in planning and designing an operations system
Specify techniques managers use to manage the logistics of transforming inputs into finished products
Assess the importance of quality in operations management
Describe the influence of changing markets on operations
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Propose an effective organizational form and structure for a new business
Assessment Strategies
Case Study, Scenario, Role Play, Written Product, and/or Exam
Criteria
Compare forms of business ownership (corporations, partnerships, sole proprietorships)
Describe the advantages and disadvantages of the sole proprietorship form of organization
Describe the two types of business partnership and their advantages and disadvantages
Describe the corporate form of organization and its advantages and disadvantages
Assess the advantages and disadvantages of mergers, acquisitions, and leveraged buyouts
Proposed organizational form and structure include a reporting hierarchy (if applicable)
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Investigate creating and owning a small business
Assessment Strategies
Case Study, Scenario, Role Play, Written Product, and/or Exam
Criteria
Define entrepreneurship and small business
Explain the importance of small businesses in the U.S. economy and why certain fields attract small business
Specify the advantages of small business ownership
Analyze the disadvantages of small business ownership and the reasons why small businesses fail
Describe the steps in creating a small business
Identify specific resources for small business development
Evaluate demographic, technological, and economic trends that affect small business
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Examine international trade strategies and multinational organizations
Assessment Strategies
Case Study, Scenario, Role Play, Written Product, and/or Exam
Criteria
Specify agreements, alliances, and organizations that encourage trade across international boundaries
Investigate economic, ethical, legal, political, social, cultural, and technological barriers to international business
Identify two basic strategies used in international business
Determine factors a small business needs to consider when expanding into international markets
Identify multinational organizations and their structures
Apply the Hofstede's six-dimensions model
Examine traits of professional and ethical communication, acceptable workplace behavior, and culturally relevant communications
Rationalize the use of inclusive language