School Teacher Name of HS Course
Check if Covered
BUS 106 (GF), BUS 105 (H), and BUS 100 (N) Tech Prep Competency Check List
Time Spent
Business and Economics Define and compare basic economic concepts such as business, product, supply and demand, basic types of economic systems, competition, and profit, and explain why studying business is important. Describe the role of supply, demand, and competition in a free-enterprise system. The Legal and Regulatory Environment Identify the sources of law. Summarize the court system and the methods of conflict resolution and gain an appreciation of the framework for regulating business through administrative agencies. Review important elements of business law, including the Uniform Commercial Code, law of torts and fraud, law of contracts, law of agency, law of property, and the law of bankruptcy. Examine laws regulating competition and review the legal and regulatory implications of business on the Internet. Business Ethics and Social Responsibility Define business ethics and social responsibility and examine their importance. Specify how businesses can promote ethical behavior. International Business Investigate economic, legal-political, social, cultural, and technological barriers to international business. Specify agreements, alliances, and organizations that may encourage trade across international boundaries. Forms of Organization Define and examine the advantages and disadvantages of the sole proprietorship, partnership, and corporate forms of organization. Define and debate the advantages and disadvantages of mergers, acquisitions, and leveraged buyouts. Small Business and Entrepreneurship. Define entrepreneurship and small business Describe start-up procedures, required resources, and the advantages and disadvantages of starting a small business. Discuss the various elements of a business plan.
Introduction to Business – 3 credits (MSUGF COT) Introduction to Business - 3 credits (UM HCT) Introduction to Business – 3 credits (MSUN)
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November 23, 2004
Management and Decision Making Define management, its levels and functions, and explain its role in the achievement of organizational objectives. Specify the skills managers need in order to be successful. Organization, Teamwork, and Communication Define organizational structure and relate how organizational structures develop. Describe how specialization and departmentalization help (or hinder) an organization in the achievement of its goals. Distinguish between groups and teams, and identify the types of groups that exist in organizations. Practice working as a member of a group or team. Describe how communication occurs in organizations. Production and Operations Management Define operations management and differentiate between operations and manufacturing. Specify some techniques managers may use to manage the logistics of transforming inputs into finished products and assess the importance of quality in operations management. Managing Human Resources Define human relations and human resource management; explain the significance of each. Investigate various theories of motivation (including Theory(s) X, Y, Z; equity; expectancy), early studies (scientific management; Hawthorne studies), and human-relations theories. (Maslow; Herzberg) Define human resources management and its components of recruitment, selection, compensation, training, and performance appraisal. Describe the importance of diversity in the work force. Marketing Define marketing and describe the exchange process. Explain the marketing concept and its implications for developing marketing strategies and factors in that development, including market segmentation and marketing mix. Investigate how marketers conduct market research and study buying behavior. Describe the role of product in the marketing mix, including how products are developed, classified, and identified and define price and discuss its importance in the marketing mix, including various pricing strategies a firm might employ and summarize the environmental forces that influence marketing decisions. Identify factors affecting distribution decisions, such as marketing channels and intensity of market coverage. Specify the activities involved in promotion, as well as promotional strategies and promotional positioning.
Introduction to Business – 3 credits (MSUGF COT) Introduction to Business - 3 credits (UM HCT) Introduction to Business – 3 credits (MSUN)
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November 23, 2004
Accounting and Financial Management Define accounting, the accounting equation, debit/credit, asset (current and long-term, liability (current and long-term) and equity, and describe the different uses of accounting information. Demonstrate the accounting process. Decipher the various components of an income statement in order to evaluate a firm's "bottom line." Interpret a company's balance sheet to determine its current financial position. Analyze financial statements, using ratio analysis, to evaluate a company's performance. Define money, its functions, and its characteristics. Specify how the Federal Reserve Board manages the money supply and regulates the American banking system. Compare and contrast commercial banks, savings and loan associations, credit unions, and mutual savings banks. Distinguish among nonbanking institutions such as insurance companies, pension funds, mutual funds, and finance companies. Identify sources of short-term financing (current liabilities), and long-term financing. Summarize the importance of long-term assets and capital budgeting. Specify how companies finance their operations and manage fixed assets with long-term liabilities, particularly bonds. Describe the various securities markets in the United States.
Introduction to Business – 3 credits (MSUGF COT) Introduction to Business - 3 credits (UM HCT) Introduction to Business – 3 credits (MSUN)
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November 23, 2004