Idaho PTE Business Education Course with Essential Learning Outcomes and Learning Indicators

Transcription

1 A course designed to focus on accomplishing the goals of an organization through the effective use of people and other resources. The functions of management are discussed and analyzed. Role playing, case analysis, guest lecturers and assignments are used to bring together the total management function. Term Semester/Trimester Preq Notes: Accounting Acct_2: Financial Reports Acct_2.1 Develop an understanding and working knowledge of an annual report and financial statements. Learning Indicator: Acct_2.1.1 Learning Indicator: Acct_2.1.2 Learning Indicator: Acct_2.1.3 Learning Indicator: Acct_2.1.4 Learning Indicator: Acct_2.1.5 Learning Indicator: Acct_2.1.6 Learning Indicator: Acct_2.1.7 Learning Indicator: Acct_2.1.8 Learning Indicator: Acct_2.1.9 Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Identify sources for obtaining finance reports Describe the users and uses of financial information Identify the sections in an annual report and the purpose of each section Explain the role of management and the auditor in preparing and issuing an annual report Identify and explain the types of audit opinions Explain the role of accounting and regulatory organizations in relation to financial reports Describe the information provided in each financial statement and how the statements articulate with each other Describe the relationship between assets, liabilities, and equity on the balance sheet Identify and explain the classifications within assets, liabilities, and equity on the balance sheet Identify the different formats of an income statement Identify the classifications in an income statement and explain their relationship to each other (revenue, expense, gains, losses) Describe changes in the ownership structure using the statement of equity Explain how and why the conceptual framework of accounting and generally accepted accounting principles provide guidance and structure for preparing financial statements Describe how the different forms of business ownership are reported in the financial statements Identify the different types of business operations Explain how the different types or business operations are reflected in the financial statements Identify and explain the business activities reported in a statement of cash flows (operating, investing, financing) Define comprehensive income and describe its relationship to operating results Describe how disclosure requirements impact financial reporting Accounting Acct_3: Financial Analysis Acct_3.1 Interpret financial statements to make informed business decisions. Learning Indicator: Acct_3.1.1 Discuss the information that can be obtained from analyzing financial statements 1/17

2 Learning Indicator: Acct_3.1.2 Learning Indicator: Acct_3.1.3 Learning Indicator: Acct_3.1.4 Learning Indicator: Acct_3.1.5 Learning Indicator: Acct_3.1.6 Learning Indicator: Acct_3.1.7 Learning Indicator: Acct_3.1.8 Learning Indicator: Acct_3.1.9 Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Interpret the need for the primary areas of analysis (trend analysis, profitability, liquidity, capital structure) Perform a horizontal and vertical analysis of the income statement and balance sheet Assess profitability by calculating a balance sheet Assess liquidity and solvency by calculating financial ratios Compare and contrast debt and equity financing and explain the impact on the financial ratios Assess capital structure by calculating and interpreting financial ratios Research industry averages and explain their use in assessing the financial condition, operating results, profitability, liquidity, and capital structure Apply information technology to conduct financial analysis Identify and explain common methods for manipulating financial statements and financial ratios Describe the ethical and legal implications resulting from the manipulation of financial statements and financial ratios Use the statement of cash flow to analyze business activities (operating, investing, financing) Analyze cash flow from operating activities to assess profitability and liquidity Accounting Acct_4: Demonstrate Knowledge of the Accounting Process Acct_4.1 Compute the value of assets according to generally accepted accounting principles using appropriate mathematical procedures. Learning Indicator: Acct_4.1.1 Learning Indicator: Acct_4.1.2 Learning Indicator: Acct_4.1.3 Learning Indicator: Acct_4.1.4 Learning Indicator: Acct_4.1.5 Learning Indicator: Acct_4.1.6 Learning Indicator: Acct_4.1.7 Learning Indicator: Acct_4.1.8 Define and identify current and long-term assets and explain their impact on financial statements Define cash, prepare bank reconciliations, establish and maintain petty cash and charge accounts Explain the benefits and potential problems or challenges of electronic fund transfers, ATM transactions, and uses of a debit card Create and maintain an accounts receivable subsidiary ledger; account for credit card sales and apply appropriate accounting techniques for uncollectible accounts Explain the purposes of notes receivable; establish and maintain accounts for receivables and related interest income Compare and evaluate inventory concepts and costing procedures and apply these concepts and procedures to merchandising and manufacturing businesses Explain the purpose of depreciation Calculate depreciation and apply appropriate accounting concepts and techniques for acquisition, depreciation, and disposal of property, plant, and equipment Acct_4.2 Determine the value of liabilities according to generally accepted accounting principles, explaining when and why they are used. Learning Indicator: Acct_4.2.1 Learning Indicator: Acct_4.2.2 Define and identify current and long-term liabilities and explain their impact on financial statements Create and maintain the accounts payable subsidiary ledger 2/17

3 Learning Indicator: Acct_4.2.3 Explain the purposes of notes payable; establish and maintain accounts for payables and related interest expense Acct_4.3 Determine the value of owner s equity according to generally accepted accounting principles, explaining when and why they are used. Learning Indicator: Acct_4.3.1 Learning Indicator: Acct_4.3.2 Explain the purpose of the revenue, expense and drawing accounts for a sole proprietorship and partnership Apply appropriate accounting techniques to account for investments and withdrawals by owners Acct_4.4 Complete the various steps of the accounting cycle and explain the purpose of each step. Learning Indicator: Acct_4.4.1 Learning Indicator: Acct_4.4.2 Learning Indicator: Acct_4.4.3 Learning Indicator: Acct_4.4.4 Learning Indicator: Acct_4.4.5 Learning Indicator: Acct_4.4.6 Learning Indicator: Acct_4.4.7 Learning Indicator: Acct_4.4.8 Learning Indicator: Acct_4.4.9 Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Learning Indicator: Acct_ Demonstrate a knowledge of accounting terms, concepts, and processes as they relate to the accounting cycle Demonstrate a knowledge of the order in which steps in the accounting process are to be performed Demonstrate an awareness of the content and chronological relationship between each step in the accounting cycle Describe and prepare a variety of source documents Analyze business transactions using source documents and describe their effect on the accounting equation Explain the double-entry system of accounting and apply debit and credit rules when analyzing business transactions Demonstrate knowledge of recording transactions in the general journal Analyze and record transactions in the appropriate journals Explain the purpose of a journal and its relationship to the ledger Post entries from the journal to the ledger Identify data needed for calculating adjustments (ending merchandise inventory, endof-period balance of prepaid insurance, ending supplies inventory, bad debts expense, and depreciation expense) Calculate adjustments and complete the worksheet Prepare a trial balance and explain its uses and limitations Prepare an income statement Prepare a capital statement Prepare a balance sheet for the end of the fiscal period Record in a general journal the required adjusting entries and post the entries to the general ledger Post closing entries to the general ledger Prepare a post-closing trial balance Accounting Acct_6: Demonstrate Knowledge in the Interpretation and Use of Data Acct_6.1 Use planning and control principles to evaluate the performance of an organization. Learning Indicator: Acct_6.1.1 Learning Indicator: Acct_6.1.2 Identify and apply internal control procedures used to safeguard assets and ensure the integrity of the accounting information system Explain and compare the behavior of fixed, variable, and mixed costs 3/17

4 Learning Indicator: Acct_6.1.3 Learning Indicator: Acct_6.1.4 Learning Indicator: Acct_6.1.5 Learning Indicator: Acct_6.1.6 Learning Indicator: Acct_6.1.7 Learning Indicator: Acct_6.1.8 Prepare master and flexible budgets and use them to evaluate performance Determine cost of goods sold and gross profit for a merchandising business Explain how to use activity-based costing and why it is used Evaluate company performance by applying standard costing and variance analysis Use spreadsheet and/or accounting software to evaluate the impact of changes in operating procedures, accounting methods, and estimates on the financial statements Use spreadsheet and/or accounting software to prepare charts and graphs useful in analyzing the financial conditions of the business Acct_6.2 Apply differential analysis and present value concepts to make decisions. Learning Indicator: Acct_6.2.1 Learning Indicator: Acct_6.2.2 Learning Indicator: Acct_6.2.3 Describe how accounting information facilitates management decision-making Apply differential analysis to make the following types of decisions: make or buy a product; lease or buy and assess; discontinue a department, plant, or product; offer discounted prices on special orders; replace or repair equipment Apply present-value concepts to evaluate capital investment opportunities Business Law BLaw_1: Demonstrate Knowledge of Basics of the Law BLaw_1.1 Analyze the relationship between ethics and the law. Learning Indicator: BLaw_1.1.1 Learning Indicator: BLaw_1.1.2 Learning Indicator: BLaw_1.1.3 Learning Indicator: BLaw_1.1.4 Learning Indicator: BLaw_1.1.5 Learning Indicator: BLaw_1.1.6 Learning Indicator: BLaw_1.1.7 Learning Indicator: BLaw_1.1.8 Learning Indicator: BLaw_1.1.9 Learning Indicator: BLaw_ Explain a person s responsibility to obey the law List the most common sources of the law Identify ethical character traits (e.g., honesty, integrity, compassion, justice) Explain the relationships between law and ethics Describe the role of values in constructing an ethical code and a legal system Identify unethical and illegal conduct and related consequences Describe how to develop an ethical and legal life style Explain the way social forces may sometimes conflict Demonstrate how a rule of law may be a synthesis of conflicting social forces Compare and contrast differences in ethical and legal systems from state to state and nation to nation Business Law BLaw_2: Demonstrate Knowledge of Contract Law, Law of Sales, and Consumer Law BLaw_2.1 Describe the nature of a contractual relationship and analyze the relationship between it and law of sales and consumer law. Learning Indicator: BLaw_2.1.1 Learning Indicator: BLaw_2.1.2 Learning Indicator: BLaw_2.1.3 Learning Indicator: BLaw_2.1.4 Learning Indicator: BLaw_2.1.5 List the elements required to create a contract Differentiate among classes of contracts, such as bilateral and unilateral; express and implied; and oral and written Explain how offer and acceptance can create contractual rights and duties Determine whether or not an agreement is definite enough to be enforced as a contract Differentiate among the ways that assent can be disrupted, such as fraud, nondisclosure, misrepresentation, mistake, duress, and undue influence 4/17

5 Learning Indicator: BLaw_2.1.6 Learning Indicator: BLaw_2.1.7 Learning Indicator: BLaw_2.1.8 Learning Indicator: BLaw_2.1.9 Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Define and distinguish between different types of consideration and list the exceptions to the requirements of consideration Explain a minor s right to avoid a contract and identify people who lack contractual capacity Describe the concept of unconscionability and compare it to illegality List the essential information that should be included in writing under the statute of frauds Explain the parole evidence rule Describe the various rules applied to the interpretation of contracts Explain the various rules applied to contracts involving third parties List the ways a contract can be discharged Describe breach of contract and the remedies available when a contract is breached Discuss the impact of the law of different countries and the impact of international law on contractual transactions Business Law BLaw_3: Demonstrate Knowledge of Agency and Employment Law BLaw_3.2 Analyze the role and importance of employment law as it relates to the conduct of business. Learning Indicator: BLaw_3.2.1 Learning Indicator: BLaw_3.2.2 Learning Indicator: BLaw_3.2.3 Learning Indicator: BLaw_3.2.4 Learning Indicator: BLaw_3.2.5 Learning Indicator: BLaw_3.2.6 Learning Indicator: BLaw_3.2.7 Learning Indicator: BLaw_3.2.8 Learning Indicator: BLaw_3.2.9 Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Demonstrate an understanding of the nature of the employer-employee relationship Explain the doctrine of employment-at-will and describe the wrongful discharge exceptions to employment-at-will Explain the relationship of Title VI of the Civil Rights Act to employment Explain the difference between disparate treatment and disparate impact in discrimination cases Determine what questions can and cannot be asked during an employment interview Demonstrate an understanding of the basis on which employees or applicants may be asked to take tests, such as aptitude, psychological, polygraph, and drug tests Identify other legislation that regulates employee rights, such as the Americans with Disabilities Act, the Age Discrimination in Employment Act, and the Family and Medical Leave Act Identify legislation that regulates employment conditions, such as the Fair Labor Standards Act, the Immigration Reform and Control Act, and the Occupational Safety and Health Act Determine legislation which guarantees worker benefits, such as unemployment insurance legislation, pension protection legislation, workers compensation legislation, and social security legislation Describe the collective bargaining process Identify legislation that regulates union activities, such as the National Labor Relations Act, the Taft-Hartley Act, and the Landrum-Griffin Act Discuss the impact of the law of different countries and the impact of international law on employment 5/17

6 Business Law BLaw_4: Demonstrate Knowledge of Business Organizations BLaw_4.1 Define and distinguish different types of partners and discuss laws pertaining to partnerships. Learning Indicator: BLaw_4.1.1 Learning Indicator: BLaw_4.1.2 Learning Indicator: BLaw_4.1.3 Learning Indicator: BLaw_4.1.4 Learning Indicator: BLaw_4.1.5 Learning Indicator: BLaw_4.1.6 Learning Indicator: BLaw_4.1.7 Learning Indicator: BLaw_4.1.8 Learning Indicator: BLaw_4.1.9 Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Distinguish among the different types of partners, such as silent, dormant, and secret; describe the powers and duties of each type of partner Outline the legal procedures for forming and running a sole proprietorship Describe legislation, such as the Uniform Partnership Act, that affects partnerships Explain the property rights involved in partnerships, such as tenancy in partnership and sharing of profits Discuss other partnership rights, such as the right to manage, the right to reimbursement, the right to inspect the books, and the right to an account Identify how the partnership may be dissolved by the acts of the partners, operation of the law, and by order of the court Distinguish a limited partnership from a general partnership Describe legislation such as the Revised Uniform Limited Partnership Act, that affects limited partnerships Explain the rights and duties of limited partners and general partners in a limited partnership Explain the distribution of assets after the dissolution of a limited partnership Differentiate among other partnership-type business organizations, such as joint ventures, limited partnership associations, and registered partnerships having limited liability Discuss the impact of the law of different countries and the impact of international law on partnerships BLaw_4.2 Define and distinguish among different types of corporations, discuss why a corporation is a legal entity and interpret the laws that effect them. Learning Indicator: BLaw_4.2.1 Learning Indicator: BLaw_4.2.2 Learning Indicator: BLaw_4.2.3 Learning Indicator: BLaw_4.2.4 Learning Indicator: BLaw_4.2.5 Learning Indicator: BLaw_4.2.6 Learning Indicator: BLaw_4.2.7 Learning Indicator: BLaw_4.2.8 Learning Indicator: BLaw_4.2.9 Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Define corporations and explain why a corporation is a legal entity Differentiate among types of corporations, such as profit, non-profit, domestic, foreign, and S corporations Explain the steps in forming a corporation Explain the circumstances under which the courts may disregard the corporate entity and "pierce the corporate veil" Describe the functions of the board of directors and officers of a corporation with regard to control of corporate affairs Differentiate among types of stock, such as common and preferred Identify shareholder rights, such as the right to receive dividends, the right to vote, the right to inspect books, and preemptive rights Explain the nature of the shareholders liability Describe when promoters, directors, and officers are liable to the corporation, shareholders, and third persons Differentiate among types of corporate expansion, such as mergers, consolidations, and conglomerates Identify federal, state, territory, and province statutes that regulate corporations Describe the ways corporate existence may be terminated 6/17

7 Learning Indicator: BLaw_ Learning Indicator: BLaw_ Describe the characteristics of a franchise and how it fits in the economic and legal framework Discuss the impact of the law of different countries and the impact of international law on corporations Business Law BLaw_11: Applications: Legal Specialty Activities BLaw_11.4 Apply knowledge of terminology related to areas of law, the court system, and the legal office. Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Learning Indicator: BLaw_ Apply knowledge of terminology involving the legal office environment Apply knowledge of terminology involving the law and the court system Apply knowledge of terminology involving legal research Apply knowledge of terminology involving administrative law Apply knowledge of terminology involving litigation Apply knowledge of terminology involving contracts Apply knowledge of terminology involving torts Apply knowledge of terminology involving criminal law Apply knowledge of terminology involving family law Apply knowledge of terminology involving business organizations Apply knowledge of terminology involving real estate Apply knowledge of terminology involving wills Apply knowledge of terminology involving estates and guardianships Entrepreneurship Entr_4: Demonstrate Knowledge of Finance Entr_4.3 Interpret financial statements to make appropriate decisions. Learning Indicator: Entr_4.3.1 Learning Indicator: Entr_4.3.2 Learning Indicator: Entr_4.3.3 Learning Indicator: Entr_4.3.4 Learning Indicator: Entr_4.3.5 Learning Indicator: Entr_4.3.6 Learning Indicator: Entr_4.3.7 Learning Indicator: Entr_4.3.8 Examine a profit/loss statement to determine whether a business is profitable Describe why the analysis of financial statements is important for the business Analyze for decision-making purposes the financial health of a business Analyze for decision-making purposes the cash flow of a business Analyze for decision-making purposes the worth of a business Determine when financial experts should be consulted for the interpretation of financial data Determine the number of products to be sold to make a profit (break-even analysis) Identify factors which cause changes in the financial picture of a business Entrepreneurship Entr_5: Demonstrate Knowledge of Accounting Entr_5.1 Explain why it is important to keep appropriate records to make business decisions. Learning Indicator: Entr_5.1.1 Learning Indicator: Entr_5.1.2 Learning Indicator: Entr_5.1.3 Identify the reasons for keeping business records Describe problems that might occur as a result of not keeping business records Describe the resulting consequences to a business of specific problems relating to keeping poor quality business records 7/17

8 Entr_5.2 Identify, describe, and compare various types of business records. Learning Indicator: Entr_5.2.1 Learning Indicator: Entr_5.2.2 Learning Indicator: Entr_5.2.3 Learning Indicator: Entr_5.2.4 Learning Indicator: Entr_5.2.5 Learning Indicator: Entr_5.2.6 Learning Indicator: Entr_5.2.7 Identify types of financial records Describe the type of data that is kept in each business record Compare and contrast the various types of records Describe the interrelationships of various records Describe the effect that an inaccurate or missing record has on other records Identify essential records needed for the day-to-day operation of a planned business Identify the relationship of recordkeeping and tax reporting Entr_5.3 Demonstrate and understanding of how to establish and use appropriate records based on the needs of a business. Learning Indicator: Entr_5.3.1 Learning Indicator: Entr_5.3.2 Learning Indicator: Entr_5.3.3 Learning Indicator: Entr_5.3.4 Learning Indicator: Entr_5.3.5 Identify and complete basic records for a business (e.g., cash sales, credit card, checkbook, promissory notes) Select and complete appropriate records for a business based on the needs of a given business Identify the advantages and disadvantages of keeping records manually or electronically Identify and use appropriate software to fulfill record keeping needs Prepare an opening-day balance sheet for a planned business Entr_5.4 Analyze appropriate records to make business decisions. Learning Indicator: Entr_5.4.1 Learning Indicator: Entr_5.4.2 Learning Indicator: Entr_5.4.3 Learning Indicator: Entr_5.4.4 Learning Indicator: Entr_5.4.5 Make personnel and purchasing decisions based on current sales data Forecast personnel and purchase decisions based on sales data Forecast sales in order to plan purchases Plan purchases based on sales forecasts Evaluate a firm's financial condition based on given business records Entrepreneurship Entr_8: Demonstrate Knowledge of Global Markets Entr_8.1 Describe how cultural differences can affect an entrepreneurial venture. Learning Indicator: Entr_8.1.1 Learning Indicator: Entr_8.1.2 Learning Indicator: Entr_8.1.3 Learning Indicator: Entr_8.1.4 Learning Indicator: Entr_8.1.5 Define culture Develop an understanding of cultural differences Describe influences of other cultures on American business Compare and contrast business practices in different cultures Analyze necessary modifications to American business practices to facilitate interaction in the global marketplace International Business IntB_1: Demonstrate Knowledge of International Business Awareness IntB_1.1 Explain the role of international business and analyze its impact on careers and doing business at the local, state, national, and international levels. Learning Indicator: IntB_1.1.1 Learning Indicator: IntB_1.1.2 Explain the difference between a domestic and international company List examples of international trade in the local community 8/17

9 Learning Indicator: IntB_1.1.3 Learning Indicator: IntB_1.1.4 Learning Indicator: IntB_1.1.5 Learning Indicator: IntB_1.1.6 Learning Indicator: IntB_1.1.7 Learning Indicator: IntB_1.1.8 Learning Indicator: IntB_1.1.9 Report on historical developments illustrating the past experience of the U.S.'s role in international trade Demonstrate an understanding of the relationship between international events and the daily conduct of business Interpret the impact of emerging economic and political changes in international operations Identify international trade partners and point out the trading patterns of companies based on region, state, and country Explain the role of international business at local, regional, and national levels Describe the impact of international business activities on the local, regional, national, and international economies Analyze the potential impact (on a community, region, state, and country in which it is located) of a domestic company involving itself in international trade opportunities Information Systems IS_1: Demonstrate Knowledge of the Foundations of Information Systems IS_1.3 Identify the need for applications of technology in business, industry, society and on a global scale. Learning Indicator: IS_1.3.1 Learning Indicator: IS_1.3.2 Learning Indicator: IS_1.3.3 Demonstrate the ability to access information regarding applications of computers and technology in business, industry, society and on a global scale Cite uses of computer and technology in business, industry, society and on a global scale Create a brief list of business, industry, society and global references and sources where information about applications of computers and technology can be found Management Mgmt_1: Demonstrate Knowledge of Functions of Management Mgmt_1.1 Illustrate how the planning function is implemented and explain why it is important. Learning Indicator: Mgmt_1.1.1 Learning Indicator: Mgmt_1.1.2 Learning Indicator: Mgmt_1.1.3 Learning Indicator: Mgmt_1.1.4 Learning Indicator: Mgmt_1.1.5 Learning Indicator: Mgmt_1.1.6 Learning Indicator: Mgmt_1.1.7 Learning Indicator: Mgmt_1.1.8 Explain what planning is and why it is done Demonstrate the ability to set priorities Apply the decision-making process to a business application List the steps in problem solving Define the role of strategic planning in a business Identify factors involved with a strategic plan Describe the process involved in developing a budget Identify tools used in project planning (e.g., PERT, GANTT) Mgmt_1.2 Illustrate how the organizing function is implemented and explain why it is important. Learning Indicator: Mgmt_1.2.1 Learning Indicator: Mgmt_1.2.2 Learning Indicator: Mgmt_1.2.3 Learning Indicator: Mgmt_1.2.4 Learning Indicator: Mgmt_1.2.5 Explain the importance of organizing for the business Explain how the organizing function relates to using various resources to accomplish strategic goals Explain the advantages and disadvantages of centralization and decentralization Describe how the organization provides for accountability through authority and responsibility Demonstrate ability to delegate responsibilities 9/17

10 Learning Indicator: Mgmt_1.2.6 Learning Indicator: Mgmt_1.2.7 Develop procedures for efficient workflow Prepare an agenda and conduct an orderly meeting Mgmt_1.3 Illustrate how the directing function is implemented and explain why it is important. Learning Indicator: Mgmt_1.3.1 Learning Indicator: Mgmt_1.3.2 Learning Indicator: Mgmt_1.3.3 Learning Indicator: Mgmt_1.3.4 Learning Indicator: Mgmt_1.3.5 Learning Indicator: Mgmt_1.3.6 Identify the need for leadership Identify leaders Describe leadership qualities (e.g., personality traits) of effective leaders Compare and contrast alternative leadership styles and the appropriate style for a given situation Compare and contrast the leading/directing function to other management functions Describe management's role in stimulating innovation and creativity Mgmt_1.4 Illustrate how the controlling and evaluating functions are implemented and explain why they are important. Learning Indicator: Mgmt_1.4.1 Learning Indicator: Mgmt_1.4.2 Learning Indicator: Mgmt_1.4.3 Learning Indicator: Mgmt_1.4.4 Learning Indicator: Mgmt_1.4.5 Learning Indicator: Mgmt_1.4.6 Learning Indicator: Mgmt_1.4.7 Define the control function and discuss how to apply it to one s life Discuss why the control function is used in business Determine the controlling strategy to be used for a given business situation Determine alternative actions when goals are not being met in a specific situation (e.g., changing goals, changing strategies) Prepare managerial reports about production, personnel, equipment, and operational costs Evaluate job applicants based upon interviews Choose appropriate action in situations requiring following a chain of command Management Mgmt_2: Demonstrate Knowledge of Theories of Management Mgmt_2.1 Compare and contrast the basic tenets of management theories and explain why they are important. Learning Indicator: Mgmt_2.1.1 Learning Indicator: Mgmt_2.1.2 Learning Indicator: Mgmt_2.1.3 Learning Indicator: Mgmt_2.1.4 Learning Indicator: Mgmt_2.1.5 Learning Indicator: Mgmt_2.1.6 Explain the differences between Theories X, Y, and Z Define Total Quality Management and its evolution (Deming) Identify motivational theories which impact management theory (Maslow, Herzberg, etc.) Illustrate why current quality theories are a necessity to compete in the global marketplace Explain how various theories of management evolved and are interrelated Explain the synthesis of leadership approaches and theories Management Mgmt_3: Demonstrate Knowledge of Financial Decision Making Mgmt_3.1 Describe the importance of internal and external financial statements and analyze the data to make decisions. Learning Indicator: Mgmt_3.1.1 Learning Indicator: Mgmt_3.1.2 Describe why financial statements are important Analyze and interpret data on financial statements 10/17

11 Mgmt_3.2 Analyze financial data in order to make long-term and short-term plans. Learning Indicator: Mgmt_3.2.1 Learning Indicator: Mgmt_3.2.2 Distinguish between short- and long-term plans Describe how a sales forecast can be a short- or long-term plan Mgmt_3.3 Analyze foreign exchange rates and how they affect the firm. Learning Indicator: Mgmt_3.3.1 Explain how dynamic foreign exchange rates affect the profitability of a firm Mgmt_3.4 Identify, compare, and contrast sources of funding. Learning Indicator: Mgmt_3.4.1 Learning Indicator: Mgmt_3.4.2 Learning Indicator: Mgmt_3.4.3 Identify traditional sources for securing financing Compare and contrast traditional and nontraditional sources for securing financing Identify the relationships among price, market share, and profitability Management Mgmt_4: Demonstrate Knowledge of Competitive Analysis and Marketing Strategies Mgmt_4.1 Identify and describe factors related to business competition. Learning Indicator: Mgmt_4.1.1 Learning Indicator: Mgmt_4.1.2 Learning Indicator: Mgmt_4.1.3 Learning Indicator: Mgmt_4.1.4 Identify ways businesses compete with one another (e.g., quality, service, status, price) Define market share Compare and contrast various forms of competition (e.g., pure competition, oligopoly, monopolistic competition, and monopoly) Describe how various laws impact competition (e.g., Sherman Act, Robinson-Patman) Mgmt_4.2 Demonstrate an understanding of techniques used to gain and maintain competitive advantage. Learning Indicator: Mgmt_4.2.1 Learning Indicator: Mgmt_4.2.2 Learning Indicator: Mgmt_4.2.3 Calculate the return on investment when given a set of financial data Describe ways to increase market share Analyze relative competitive strengths and weaknesses using appropriate tools [e.g., strengths, weaknesses, opportunities, threats (SWOT)] Mgmt_4.3 Justify the need to gain and maintain competitive advantage through the use of internal comparisons and external research services. Learning Indicator: Mgmt_4.3.1 Learning Indicator: Mgmt_4.3.2 Learning Indicator: Mgmt_4.3.3 Explain the purposes of external research services and explain why businesses use them for competitive purposes Explain the purposes of internal research services and why businesses use them (e.g., consumer affairs, consumer panels, and marketing research) Describe why an ongoing analysis of customer satisfaction is necessary for attaining competitive advantage Management Mgmt_5: Demonstrate Knowledge of Human Resource Management Mgmt_5.1 Describe employee development and its importance to the successful operation of the organization. Learning Indicator: Mgmt_5.1.1 Learning Indicator: Mgmt_5.1.2 Learning Indicator: Mgmt_5.1.3 Explain why orientation and ongoing training are needed for successful employee performance State why professional development is a shared responsibility between the business and the individual Identify different types of orientation and training needed 11/17

12 Learning Indicator: Mgmt_5.1.4 Learning Indicator: Mgmt_5.1.5 Learning Indicator: Mgmt_5.1.6 Explain the relationship of continuous training to professional development Identify the benefits of other forms of employee development (e.g., workshops, conferences, course work, professional associations) Determine preventive actions for office communication problems Mgmt_5.2 Describe evaluation and its importance to the successful operation of the organization. Learning Indicator: Mgmt_5.2.1 Learning Indicator: Mgmt_5.2.2 Learning Indicator: Mgmt_5.2.3 Learning Indicator: Mgmt_5.2.4 Learning Indicator: Mgmt_5.2.5 Learning Indicator: Mgmt_5.2.6 Learning Indicator: Mgmt_5.2.7 Explain the need for employee evaluation Explain how employees are evaluated Identify the consequences to employees of positive or negative performance appraisals Describe the procedures used in the evaluation process and why they are needed Design an evaluation system Describe the legal implications of using performance appraisals to terminate or demote employees Choose appropriate action in solving problems involving violation of business principles Mgmt_5.3 Describe recruiting and selection and their importance to the successful operation of the organization. Learning Indicator: Mgmt_5.3.1 Learning Indicator: Mgmt_5.3.2 Learning Indicator: Mgmt_5.3.3 Learning Indicator: Mgmt_5.3.4 Learning Indicator: Mgmt_5.3.5 Learning Indicator: Mgmt_5.3.6 Identify recruiting sources of new employees Identify methods used to recruit and select employees Complete a job application form Describe legislation affecting the selection process and why it is important (e.g., affirmative action, right to privacy) Identify common selection tools and determine why they are used (e.g., interview, tests, reference checks) Develop a job description and determine how it will be used in the recruiting process Mgmt_5.4 Describe Labor Contract Implementation and its importance to the successful operation of the organization. Learning Indicator: Mgmt_5.4.1 Learning Indicator: Mgmt_5.4.2 Learning Indicator: Mgmt_5.4.3 Describe the common elements of a labor contract Outline the procedures involved in the grievance process Discuss the role of human resources personnel in the collective bargaining process Mgmt_5.5 Describe compensation, promotion, benefits, and incentives and their importance to the successful operation of the organization. Learning Indicator: Mgmt_5.5.1 Learning Indicator: Mgmt_5.5.2 Learning Indicator: Mgmt_5.5.3 Learning Indicator: Mgmt_5.5.4 Learning Indicator: Mgmt_5.5.5 Learning Indicator: Mgmt_5.5.6 Learning Indicator: Mgmt_5.5.7 Identify benefits available to all employees Explain the methods used to compensate employees (e.g., wages, salary, commission) Identify various career paths available to employees Calculate wages paid under various compensation methods Describe policies and procedures used to manage compensation (e.g., company performance, benchmarking, profit sharing) Establish criteria for promoting employees Describe the relative merits and possible disadvantages of internal promotion vs. hiring from outside 12/17

13 Mgmt_5.6 Describe separation, termination and transition and its importance to the successful operation of the organization. Learning Indicator: Mgmt_5.6.1 Learning Indicator: Mgmt_5.6.2 Learning Indicator: Mgmt_5.6.3 Learning Indicator: Mgmt_5.6.4 Learning Indicator: Mgmt_5.6.5 Define the concept of downsizing and why it occurs Describe programs available to assist displaced employees Discuss how internal and external factors can affect downsizing (e.g., economy, competition, government regulations) Identify the consequences of downsizing on the individual, the company, the economy, and society Discuss whether a company has a responsibility to provide retraining programs and severance packages for displaced workers Mgmt_5.7 Describe labor legislation and how it contributes to the successful operation of the organization. Learning Indicator: Mgmt_5.7.1 Learning Indicator: Mgmt_5.7.2 Learning Indicator: Mgmt_5.7.3 Learning Indicator: Mgmt_5.7.4 Describe how the workplace has changed as a result of labor legislation (e.g., drug testing, ADA, sexual harassment, safety) Describe why the workplace has changed as a result of labor legislation Discuss the viability of specific labor legislation Discuss the effect of legislation has had on company productivity and profitability Mgmt_5.8 Describe internal communications with employees and how it contributes to the successful operation of the organization. Learning Indicator: Mgmt_5.8.1 Learning Indicator: Mgmt_5.8.2 Learning Indicator: Mgmt_5.8.3 Learning Indicator: Mgmt_5.8.4 Describe the methods used by management to communicate with employees (e.g., formal and informal) Demonstrate the effective use of various communication methods Differentiate among the various electronic and non electronic telecommunication methods Explain the importance of timely communication of information pertinent to employees Management Mgmt_6: Demonstrate Knowledge of Organizational Structure Mgmt_6.1 Identify and differentiate between the basic organizational structures. Learning Indicator: Mgmt_6.1.1 Learning Indicator: Mgmt_6.1.2 Learning Indicator: Mgmt_6.1.3 Identify the levels of management Describe line vs. staff departments and the authority relationship between them Differentiate between tall and flat organizational structures Mgmt_6.2 Identify basic forms of business ownership and discuss the advantages and disadvantages of each. Learning Indicator: Mgmt_6.2.1 Learning Indicator: Mgmt_6.2.2 Learning Indicator: Mgmt_6.2.3 Identify and provide examples of basic ownership forms Compare and contrast the forms of business ownership Identify variations of basic ownership forms (e.g., franchises, employee stock ownership programs) Mgmt_6.3 Identify and discuss the advantages and disadvantages of different organizational models. Learning Indicator: Mgmt_6.3.1 Learning Indicator: Mgmt_6.3.2 State the advantages and disadvantages of the team concept to the organization Discuss the interrelationships of a variety of organizational models (e.g., line, line and staff, functional) 13/17

14 Learning Indicator: Mgmt_6.3.3 Learning Indicator: Mgmt_6.3.4 Learning Indicator: Mgmt_6.3.5 Learning Indicator: Mgmt_6.3.6 Analyze organizational charts and determine how they need to be modified Design an organizational chart Describe the effects of group dynamics on group decision making and consensus building Identify situations where alternative organizational structures should be used by multinational firms (e.g., holding companies, divisions, joint ventures) Management Mgmt_7: Demonstrate Knowledge of General Management skills Mgmt_7.1 Develop and use time management skills. Learning Indicator: Mgmt_7.1.1 Learning Indicator: Mgmt_7.1.2 Learning Indicator: Mgmt_7.1.3 Discuss the importance of time management, both professionally and personally, including the consequences of poor time management skills Perform a personal time management analysis for a given period of time Develop a time management plan using cases and simulations Mgmt_7.2 Describe and use technology as it relates to the management process. Learning Indicator: Mgmt_7.2.1 Learning Indicator: Mgmt_7.2.2 Describe the role of technology in the overall management process Use current technology in various facets of the managerial process Mgmt_7.3 Develop and use networking skills. Learning Indicator: Mgmt_7.3.1 Learning Indicator: Mgmt_7.3.2 Learning Indicator: Mgmt_7.3.3 Learning Indicator: Mgmt_7.3.4 Describe the advantages of networking in order to achieve personal and professional advancement Identify available resources inside and outside of the school useful for making professional contacts (e.g., career development centers, business schools, alumni, business leaders) Develop liaisons with community and professional organizations using strategies such as internships, volunteer work, and membership in organizations Demonstrate a knowledge of professional organizations Mgmt_7.4 Describe the entrepreneurial way of thinking and use it to solve problems. Learning Indicator: Mgmt_7.4.1 Learning Indicator: Mgmt_7.4.2 Learning Indicator: Mgmt_7.4.3 Define the entrepreneurial way of thinking and describe why it is important (e.g., opportunity recognition) Use the entrepreneurial way of thinking in one s own life Apply the entrepreneurial way of thinking to solving managerial problems Management Mgmt_8: Demonstrate Knowledge of Ethics Mgmt_8.1 Define ethics and discuss the importance of ethics in personal, social, and business decision making. Learning Indicator: Mgmt_8.1.1 Learning Indicator: Mgmt_8.1.2 Learning Indicator: Mgmt_8.1.3 Learning Indicator: Mgmt_8.1.4 Learning Indicator: Mgmt_8.1.5 Learning Indicator: Mgmt_8.1.6 Describe a personal code of ethical behavior Explain the importance of trust for the successful conduct of business Give examples of how unethical behavior results in higher prices for consumers (e.g., insurance fraud) Describe how and why different cultures have different ethical systems Explain the difference between ethics and governmental regulations Describe a business code of ethical behavior 14/17

15 Learning Indicator: Mgmt_8.1.7 Learning Indicator: Mgmt_8.1.8 Give examples of how unethical behavior leads to governmental regulations Determine appropriate action in situations requiring application of business ethics Mgmt_8.2 Define a code of ethics, develop a code of ethics, and apply a code of ethics to various issues confronted by businesses. Learning Indicator: Mgmt_8.2.1 Learning Indicator: Mgmt_8.2.2 Learning Indicator: Mgmt_8.2.3 Learning Indicator: Mgmt_8.2.4 Learning Indicator: Mgmt_8.2.5 Learning Indicator: Mgmt_8.2.6 Identify ethical considerations resulting from technological advances (e.g., computer snooping or hacking) Identify ethical considerations resulting from increasing international competition (e.g., dumping goods on the market at below-cost prices; and trading with countries where unfair labor practices, bribery, and human rights violations exist) Identify ethical considerations resulting from increasing business positioning with politicians (e.g., should gifts, lobbying, and honoraria be given to political leaders for business gain?) Identify ethical considerations involving employer/employee relationships (e.g., poor working conditions, hours wasted on the job, employee theft) Identify ethical considerations affecting consumers (e.g., false advertising, shoplifting) Select the best ways to handle confidential information Mgmt_8.3 Examine the role of social responsibility in decision making. Learning Indicator: Mgmt_8.3.1 Learning Indicator: Mgmt_8.3.2 Learning Indicator: Mgmt_8.3.3 Learning Indicator: Mgmt_8.3.4 Learning Indicator: Mgmt_8.3.5 Learning Indicator: Mgmt_8.3.6 Define social responsibility Identify ways in which a business organization demonstrates social responsibility Identify ways in which a business organization demonstrates social responsibility toward its internal and external stakeholders Discuss the impacts resulting from business organizations being socially responsibility toward their internal and external stakeholders Recognize the long-term impact of practicing social responsibility Identify government regulations that have resulted from social irresponsibility Management Mgmt_9: Demonstrate Knowledge of Government Regulations and Social Responsibility Mgmt_9.1 Identify, describe, and analyze the impact and relationship of government regulations to business management decisions. Learning Indicator: Mgmt_9.1.1 Learning Indicator: Mgmt_9.1.2 Learning Indicator: Mgmt_9.1.3 Learning Indicator: Mgmt_9.1.4 Learning Indicator: Mgmt_9.1.5 Learning Indicator: Mgmt_9.1.6 State the ways in which regulations differ among countries and their effects on business Compare the relative merits of having more vs. less government regulation of business Identify the effects regulation has had on specific industries (e.g., long-distance telephone service) Compare specific government regulations and their impact on doing business both domestically and internationally Identify the regulating responsibilities held by various government agencies (e.g., FTC, USDA, CPSC) Discuss how business influences government regulation (e.g., through lobbying) 15/17

16 Mgmt_9.2 Identify, describe, and analyze the impact and relationship of community involvement to business management decisions. Learning Indicator: Mgmt_9.2.1 Learning Indicator: Mgmt_9.2.2 Learning Indicator: Mgmt_9.2.3 Discuss why the definition of community (e.g., local area, regional area, national, international) differs among businesses Identify specific ways in which a company can help its community (e.g., jobs, taxes, contributions to special community projects) Explain the pros and cons of various levels of community involvement by a business Management Mgmt_10: Demonstrate Knowledge of Functions of Organized Labor Mgmt_10.1 Describe the role of organized labor and its influences on government and business. Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Describe the history of the labor movement and why unions were organized Describe the collective bargaining process including the use of mediators and arbitrators Describe legal strategies used by labor and management to gain competitive advantage in contract negotiations (e.g., strikes, boycotts, layoffs, lockouts) Identify federal legislation which has affected organized labor and management and explain its effect Explain why the participation of workers in labor unions has changed Describe illegal strategies which have been used by labor and management to gain competitive advantage (e.g., wildcat strikes, secondary boycotts, preventing workers from forming unions) Describe the changing provisions for the labor contract and reasons for such changes Describe the process involved in forming and operating a labor union Identify methods used to design or redesign products and tools that assist in the process [e.g., computer assisted design (CAD)] Design a product Identify the factors considered in scheduling production and tools that assist in the process [e.g., computer assisted management (CAM), robotics] Prepare a production schedule Management Mgmt_11: Demonstrate Knowledge of Operations Management Mgmt_11.1 Apply generally accepted operations management principles and procedures to design a product and schedule its production. Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Identify methods used to design or redesign products and tools that assist in the process [e.g., computer assisted design (CAD)] Design a product Identify the factors considered in scheduling production and tools that assist in the process [e.g., computer assisted management (CAM), robotics] Prepare a production schedule 16/17

17 Mgmt_11.2 Apply generally accepted operations management principles and procedures to procurement of materials. Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Describe the importance of maintaining close working relationships with external suppliers Identify the factors considered when selecting suppliers(e.g., quality, price, reliable delivery) Identify sources for raw materials and parts, both domestic and international Compare and contrast the production of parts internally vs. procurement from external sources Mgmt_11.3 Apply generally accepted operations management principles and procedures to managing inventory. Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Learning Indicator: Mgmt_ Identify the problems associated with having too much or too little inventory Apply methods used to count and inspect incoming inventory Identify the basic forms of inventory carried by a manufacturing firm (e.g., materials and parts, work in process, finished goods) Identify appropriate situations in which a Just-In-Time inventory system can and should be used Develop a system for maintaining inventory control (e.g., receiving, tracking, securing, reordering) Marketing Mktg_1: Demonstrate Knowledge of Marketing Roles Mktg_1.1 Identify the roles of marketing and analyze the impact of marketing on the individual, business, and society. Learning Indicator: Mktg_1.1.1 Learning Indicator: Mktg_1.1.2 Learning Indicator: Mktg_1.1.3 Learning Indicator: Mktg_1.1.4 Learning Indicator: Mktg_1.1.5 Learning Indicator: Mktg_1.1.6 Learning Indicator: Mktg_1.1.7 Learning Indicator: Mktg_1.1.8 Describe the historical evolution of marketing Define and describe the marketing concept Explain the impact of marketing on personal life Explain diversity of activities involved in marketing Compare and contrast marketing strategies for products, services, ideas, and persons Analyze ethical and social responsibility issues related to marketing Explain the role of utility in facilitating exchange (i.e., form, time, place, possession, information) Compare the American marketing system with those found in other countries 17/17