DECA Business Administration Core - Performance Indicators
Terms in this set (194)
Explain types of business ownership. (CS)
Sole Proprietorship - owned/run by one individual who receives all profits and is responsible for loss/debt; limited capital, unlimited liability
Partnership - partners agree to cooperate in working toward mutual interests; combined capital, unlimited financial ability
Corporation - sells shares in stock market, company is owned by multiple shareholders, allows for limited liability, greater financial power by issuing stock
Monopoly - one supplier, no substitute goods or services readily available
Private LLC - limited liability, no shares of stock
Nonprofit - uses revenue to achieve social goals
Franchise - chain of suppliers providing goods/services
Cooperative/Joint Venture - run/managed by employees
Identify sources that provide relevant, valid written material. (PQ)
Government publications, reputable news outlets, textbooks, and professional research papers provide relevant, valid written material. One should verify an author's credentials to determine credibility.
Extract relevant information from written materials. (PQ)
If a piece of information from written material relates to the topic under discussion and is true, then it is relevant.
Apply written directions to achieve tasks. (PQ)
Directions must be followed meticulously to achieve tasks.
Analyze company resources to ascertain policies and procedures. (CS)
Consulting the employee handbook or one's co-workers can ascertain one of company policies and procedures.
Explain communication techniques that support and encourage a speaker. (PQ)
enthusiasm, open-ended questions, body language, approval, attentive listening, eye contact, encouragement, energy
Follow oral directions. (PQ)
Listen carefully, then execute the steps as given. After instructions are given, clarify any doubts. If further help is necessary, ask your supervisor for assistance.
Demonstrate active listening skills. (PQ)
Don't slouch, sit up straight, and exhibit enthusiasm.
Explain the nature of effective verbal communications. (PQ)
Effective verbal communication can be formal or informal, and is when a speaker appears confident and "in the know." This can influence/persuade the listener.
Ask relevant questions. (PQ)
Questions should be appropriate and relative to the topic under discussion.
Interpret others' nonverbal cues. (PQ)
If the listener appears irritated, switch topics or end the conversation. If s/he appears attentive or enthusiastic, carry on and press further.
Provide legitimate responses to inquiries. (PQ)
Responses to inquires should be direct and assertive, while maintaining professionalism. They should also contain all necessary information.
Give verbal directions. (PQ)
Say the directions out loud in an initiative manner. Include all necessary information. Ask the audience if they have any questions, and answer clearly and thoroughly.
Employ communication styles appropriate to target audience. (CS)
Use humor if appropriate, be dramatic/emotional if necessary, be serious when required, etc.
Defend ideas objectively. (CS)
State evidence to back up your claims.
Handle telephone calls in a businesslike manner. (CS)
State your contact information, say "How may I help you?", speak as if it were a real business meeting
Participate in group discussions. (CS)
Ask relevant questions, respect the opinions of others, work together with the intention of meeting a goal.
Utilize note-taking strategies. (CS)
Use abbreviations, write only the main ideas, and write questions to be asked.
Organize information. (CS)
Use charts and diagrams to organize information in a systematic manner.
Select and use appropriate graphic aids. (CS)
Graphic aids should organize information in a systematic and clear manner (e.g. flow chart - decision making).
Explain the nature of effective written communications. (CS)
Effective written communications should contain all of the necessary information, have proper formatting/conventions, and attempt to persuade or inform the reader.
Select and utilize appropriate formats for professional writing. (CS)
Business letters are most appropriate for professional writing as they contain contact information and the address.
Edit and revise written work consistent with professional standards. (CS)
Written work contains professional and advanced vocabulary and slang should not be used.
Write professional emails. (CS)
Professional emails should be written similarly to other forms of business communication.
Write business letters. (CS)
Business letters should contain the contact information and address of the sender, while containing a formal greeting/closing and a professional body.
Write professional messages.
Professional messages should be written the same way as other forms of written business communication.
Write informational messages. (CS)
Informational messages contain a variety of information that has different levels of importance. It is usually presented in order of importance, so that the reader can clearly understand. Information should be explained throughly.
Write inquiries. (CS)
Inquiries should contain relevant questions about a certain good, service, or policy.
Describe the impact of a person's social media brand on the achievement of organizational objectives. (CS)
Social media can improve the public image of a person and allow them to connect with customers and advertise/market more effectively.
Distinguish between using social media for business and personal purposes.
Social media can be used personally to communicate with friends and family, while professionally to promote products and events.
Explain the nature of staff communication. (CS)
Types of Staff Communication:
Upward - subordinate -> manager (same dept.)
Downward - manager -> subordinate (same dept.)
Horizontal - same hierarchical level
Diagonal - subordinate <-> manager (diff. depts.)
Grapevine - circulation of rumors and unofficial info
Choose and use appropriate channels for workplace communication. (CS)
Appropriate channels for communication in the workplace include email and in-person communication. Employees should refrain from using social media and group messaging apps to communicate.
Participate in a staff meeting. (CS)
All employees should participate in the discussion. The purpose of staff meetings is to discuss issues that are of importance to the business, or to solve problems. Therefore, ideas and opinions are valuable. Employees should not comment on ever detail, should explain their ideas adequately, and not cause arguments with those who disagree.
Participate in problem-solving groups. (CS)
Problem-solving groups allow each employee to be heard and ensure that their rights are protected.
Explain the nature of positive customer relations. (CS)
By being customer-centered, employees can build customer rapport and advocacy.
Demonstrate a customer-service mindset. (CS)
By being welcoming and encouraging to customers and helping them, employees can demonstrate a customer-service mindset.
Develop rapport with customers. (CS)
By exhibiting empathy with customers and being understanding, employees can build rapport with and retain customers.
Reinforce service orientation through communication. (CS)
Employees should make it clear that their intention is to help the customer.
Respond to customer inquiries. (CS)
Customer inquiries should be responded to with all necessary and relevant information in an assertive and friendly manner. Make sure your response is accurate and clear. If you are not sure, refer to company handbook or upper management.
Adapt communication to the cultural and social differences among clients. (CS)
Employees should refrain from using derogatory, racist, and sexist vocabulary. They should determine when it is appropriate to utilize more casual or more professional communication.
Interpret business policies to customers/clients. (CS)
The business policy should be stated in a colloquial and politically correct manner to those who do not understand it.
Handle difficult customers. (CS)
Difficult customers should have their needs heard and handled professionally through employees explaining policies and negotiating terms.
Types of Difficult Customers:
Domineering - acts like a know-it-all
Suspicious - doesn't trust anyone
Slow/Methodical - takes forever to make a decision
Dishonest - lies about pricing, promotion rules, etc.
Disagreeable - tells you how to do your job
Handle customer/client complaints. (CS)
Complaints should be addressed appropriately and in a timely manner. An apology should be issued.
Identify company's brand promise. (CS)
A company brand's promise is a statement in which a company promises to provide and abide by a set criteria of performance and reliability.
Determine ways of reinforcing the company's image through employee performance. (CS)
Employees at a company should be seen as diligent such that more people will apply for jobs and more customers will purchase the company's products.
Distinguish between economic goods and services. (CS)
Good - tangible, purchased for manual use
Service - intangible, purchased for one to perform a task on behalf of the client
Explain the concept of economic resources. (CS)
Economic resources are the factors used in producing goods or providing services. In other words, they are the inputs that are used to create things or help you provide services. Economic resources can be divided into human resources, such as labor and management, and nonhuman resources, such as land, capital goods, financial resources, and technology.
Capital Resources - assets, monetary value
Human Resources - labor/management
Natural Resources - raw materials
Describe the concept of economics and economic activities. (CS)
Economics is the study of meeting unlimited human wants and examining their behavioral patterns in regards to money based on various environmental, social, political, personal, and psychological factors. This includes strategy involved in various economic activities in order to attract consumers of the target market and generate more cash flow.
Production - creation of a good/service
Distribution - making good/service available
Consumption - usage of a good/service
Determine economic utilities created by business activities. (CS)
Form Utility - configuration of product; Changing raw materials or putting parts together to make them more useful
Place Utility - physical location; Having a product where customers can buy it.
Time Utility - timing of service; Having a product available at a certain time of year or a convenient time of day.
Possession Utility - terms of ownership; The exchange of a product for some monetary value; cash, checks, credit/debit cards, and etc.
Information Utility - communication with the consumer; information on websites, emails and etc.
Explain the principles of supply and demand. (CS)
Supply - availability of good/service
Demand - public desire for good/service
Law of Supply - price and supply are positively correlated because it is more profitable and suppliers are more willing to produce/offer good/service
Law of Demand - price and supply are negatively correlated because less people are willing to pay for said good/service
Elasticity - sensitivity of supply/demand to increasingly subtle changes in price (high elasticity = sensitive to smaller changes in price, no elasticity = no change in supply/demand regardless of price)
Market Equilibrium - price at which supply and demand are equal, correlates with equilibrium quantity, assessed by economists in order to avoid shortage or surplus
Shortage - price too low, supply less than demand, not enough for every consumer
Surplus - price too high, supply higher than demand, capital wasted on resources for things no one wants
Factors Affecting Supply:
Resource Price - negative correlation
Related Product Price - negative correlation
Number of Suppliers - positive correlation
Technological Advancement - positive correlation
Expected Future Prices - positive correlation
Factors Affecting Demand:
Substitute Price - positive correlation
Complement Price - negative correlation
Expected Future Prices - positive correlation
Income - positive correlation (except for low-value)
Population - positive correlation (except for low-value)
Describe the functions of prices in markets. (CS)
The price of a good or service is how much it costs per unit or time period. Based on factors affecting supply and demand in the current marketplace, the price determines an forecasted quantity supplied and demanded, allowing a business to determine what price to set in order to accomplish market equilibrium.
Explain the role of business in society.
Businesses satisfy unlimited human wants by providing goods and services to society.
Describe types of business activities. (CS)
Operations - includes every activity needed to manufacture a product or provide a service; improving quality/efficiency
Marketing - targeting needs and desires of consumers; determines the specifications of products and services, proper pricing, the best distribution channels, and packaging;
Finance - When approached carefully, finance activities build a foundation for a company's security, ensuring future operations. Creating budgets, allocating funds throughout the company, determining investments, protecting assets, managing credit and preparing financial reports are other necessary financial activities; balance sheet (assets vs. liabilities) and income statement determine profit vs. loss
Explain the types of economic systems. (CS)
Traditional - unregulated perfect competition
Command - government monopolies
Market - unregulated, various forms of competition
Mixed - regulated, various forms of competition
Identify the impact of small businesses/entrepreneurship on market economies. (CS)
Market economies are completely unregulated, meaning that there are few barriers to entry and startups can easily make contributions to society and profit.
Explain the concept of private enterprise. (CS)
A private enterprise is a type of business with no government regulation.
Identify factors affecting a business's profit. (CS)
Supply/Demand - See PI #74
Competition - See PI #89
Global Environment - See PI #80
Expansion - into new markets (vertical integration)
into various brands (horizontal integration)
Determine factors affecting business risk. (CS)
Human Risk - possibility of loss caused by humans
Economic Risk - unfavorable market conditions
Natural Risk - natural disasters
Explain the concept of competition. (CS)
Competition is the amount of businesses and differentiation among their goods and services within a certain market.
Types of Competition:
Monopoly - 1 business, no differentiation
Oligopoly - few businesses, low differentiation
Monopolistic Competition - many businesses, high differentiation
Perfect Competition - many businesses, no differentiation
Duopoly - 2 dominant suppliers
Collusion - classified suppliers (e.g. government weapons suppliers)
Cartel - association of suppliers with high prices and low competition
Determine the relationship between government and business. (CS)
There are government agencies and legislation to impose regulations on business activities, but businesses can influence political decision-makers.
Explain the concept of productivity. (CS)
Productivity is a quantitative measure of the ratio of outputs to inputs. When productivity is lower than necessary, inflation occurs due to more input (resources) resulting in less output (money), decreasing each individual unit of money's value.
Describe the nature of emotional intelligence. (PQ)
Emotional intelligence is the ability of an individual to recognize their own and other's emotions to discriminate between different emotions and to act appropriately.
Explain the concept of self-esteem. (PQ)
Self-esteem is a person's overall subjective emotional evaluation of his or her own worth. One can improve his/her self-esteem by assessing their strengths and appreciating them.
Recognize personal biases and stereotypes. (PQ)
Bias - tendency/perspective to a certain thing
Stereotype - broad generalization about something
Assess personal strengths and weaknesses. (PQ)
Strength - favorable attribute
Weakness - inhibiting attribute
Identify desirable personality traits important to business. (PQ)
Some desirable personality traits for business include multitasking, strategic thinking, diligence, confidence, decisiveness, leadership, initiative, and team-orientedness.
Exhibit self-confidence. (PQ)
Self-confidence can be exhibited through a calm yet assertive tone of voice, clear articulation and enunciation, and through knowledge of the subject under discussion.
Demonstrate interest and enthusiasm.
Interest and enthusiasm is demonstrated through methods such as relevant questioning and discussion facilitation.
Demonstrate initiative. (PQ)
Initiative is the personality trait of an individual taking responsibility for a certain action through ways such as learning about the situation, brainstorming solutions, assembling a team, and completing a task.
Demonstrate responsible behavior. (PQ)
Responsibility can be demonstrated by leaders through taking responsibility for both necessary tasks and faults.
Demonstrate honesty and integrity. (PQ)
Honesty and integrity can be demonstrated through not lying and exhibiting good ethics and morals.
Demonstrate ethical work habits. (PQ)
Employees with good work ethic demonstrate reliability, a positive attitude, communication skills, and motivation.
Take responsibility for decisions and actions. (PQ)
When a task needs to be carried out, the responsible employee should step up to the plate. However, if something goes wrong, s/he should take the blame.
Manage commitments in a timely manner. (CS)
Commitments should be managed in a timely manner by not procrastinating, and utilizing sequential tasking. If applicable, multitasking can be a powerful productivity tool.
Exhibit a positive attitude. (PQ)
Positive attitude can be exhibited via methods such as team encouragement, enthusiasm, and implementing a reward system.
Demonstrate self-control. (PQ)
Self-control can be demonstrated via methods such as anger management, stress management, and compulsive behavior control.
Explain the use of feedback for personal growth. (PQ)
Critical feedback can be used for insight on personal strengths and weaknesses and how these attributes can be perfected to improve work ethic.
Adjust to change. (PQ)
Change is common in the workplace and by adapting policies, work habits, and routines this change can be adjusted to.
Respect the privacy of others. (PQ)
Privacy is an important component of virtue and employees must not violate it by looking through personal communications or eavesdropping on conversation.
Show empathy for others. (PQ)
Empathy is the capability of an individual to understand and sympathize with others' emotions through ways such as relevant questioning and reassurance.
Maintain the confidentiality of others. (CS)
Confidentiality is the protection of private information and employees must not violated by spreading personal information of others' to third parties.
Exhibit cultural sensitivity. (CS)
Cultural sensitivity is the ability of an individual to understand and relate to people of other races/cultures through ways such as refraining from racial slurs and accepting others' differences.
Explain the nature of effective communications. (PQ)
Effective communications can efficiently persuade or inform a group or individual through methods such as simplicity and action.
Use appropriate assertiveness. (PQ)
Exhibit self-confidence and assurance without being aggressive by being negotiable and encouraging.
Use conflict-resolution skills. (CS)
Conflict can be resolved through collaboration, compromise, or avoidance.
Explain the nature of office politics. (CS)
Office politics is a scenario in which multiple employees battle for dominance over decision-making. It can be helpful (clear leader) or harmful (uncontrollable conflict).
Overcome problems and difficulties associated with office politics. (CS)
By using negotiation techniques, office drama can be resolved in an effective manner.
Participate as a team member. (CS)
Teamwork includes leadership and collaboration. By providing input to a task and facilitating new initiatives, employees can be better team members.
Explain the concept of leadership. (CS)
Leadership is the concept of an individual or group of individual managing administrative tasks for an organization.
Types of Leadership:
Authoritarian - strictly professional, direct supervision
Paternalistic - father figure, more personal
Democratic - social equality
Laissez Faire - workers have all power
Transactional - system of rewards/punishments
Transformational - leads change and initiative
Determine personal vision. (CS)
Personal vision can be defined as a future goal that one hopes to attain. It should be SMART - Specific, Measurable, Achievable, Realistic/Relevant, and Time-Bound.
Demonstrate adaptability. (CS)
Adaptability is ability of an individual to adjust to changes in the workplace.
Develop an achievement orientation. (CS)
Tend to be leaders, set high standards, constantly learning, positive attitude, always performing the correct things while not being supervised.
Lead change. (CS)
Leaders should initiate positive feedback through methods such as assessing the current scenario, finding areas for improvement, brainstorming solutions, and implementing a course of action.
Enlist others in working toward a shared vision. (CS)
Collaboration is a powerful tool and it is important that fellow workers exhibit personality traits such as motivation, positive attitude, empathy, and conflict resolution skills in order to form the perfect work team.
Coach others. (CS)
Others may need coaching and leaders should do so by assessing weaknesses, brainstorming solutions, and suggesting them in an assertive manner.
Treat others fairly at work. (PQ)
Everyone should be treated the same, be heard, and have their rights protected regardless of race, gender, age, religion, or sexual orientation.
Foster positive working relationships. (CS)
Positive working relationships can be fostered through methods such as appreciating others, being positive, and building rapport with co-workers and clients.
Explain forms of financial exchange. (PQ)
Cash - paper money
Credit - legal obligation to pay at a later date
Check - legal document confirming consumer's will to pay
Electronic - virtual money
Investments - bought by speculator with expectation of higher yield/returns
Identify types of currency (paper money, coins, banknotes, government bonds, treasury notes, etc.)
Paper Money- Legal and Governmental value.
Bank notes- a piece of paper money, constituting a central bank's promissory note to pay a stated sum to the bearer on demand.
Treasury Notes- a note issued by the US Treasury for use as currency.
Currencies with High Effect on Global Markets:
Describe functions of money (medium of exchange, unit of measure, store of value) (PQ)
Medium of Exchange - facilitate transactions
Store of Value - changes as economy fluctuates
Unit of Measure - common value of good/service
Describe sources of income (wages/salaries, interest, rent, dividends, transfer payments, etc.) (PQ)
Wage/Salary - periodic payment in exchange for labor
Interest - increased payment in exchange for time
Transfer Payment - government benefits
Wage Garnishment - court-ordered initiative
Explain the time value of money. (CS)
The time value of money (TVM) is the idea that money available at the present time is worth more than the same amount in the future due to its potential earning capacity. This core principle of finance holds that, provided money can earn interest, any amount of money is worth more the sooner it is received.
The value of money changes over time due to fluctuations in the foreign exchange market and domestic business cycles.
Picture this scenario:
Given a CPI of 10%, a bank offers you three options:
a) Receive $100 now
b) Receive $109 in a year
c) Receive $120 in two years
Which choice yields the greatest return?
A. In one year, $100 is worth $110, and in two years, it is worth $121, trumping both of the other choices by a dollar.
Explain the purposes and importance of credit. (CS)
Credit is borrowed to allow individuals to pay at a fixed date in the future and helps economy to grow.
Explain legal responsibilities associated with financial exchanges. (CS)
Good Faith - honest intention to fulfill obligation
Disclosure - information is accessible to outside entities
Important Finance Laws:
Sarbanes-Oxley Act - CEO/CFO verifies external docs
Dodd-Frank Act - strictest regulations since Great Depression
Gramm-Leach-Blilley Act - created financial services industry by combining banks, insurance, etc. into one industry
Explain the nature of financial needs. (CS)
Financial need is the necessity of money to purchase goods and services such as food, water, shelter, clothing, transportation, education, labor, etc.
Set financial goals. (CS)
Financial goals involve setting a budget of money that is to be used for purchase, money to be invested in stocks/bonds, and money to be saved in raw form for future use.
Develop a personal budget. (CS)
Types of Budgets:
Methods of Budgeting:
Explain the nature of tax liabilities. (PQ)
Tax liability is the amount owned to a taxing authority, typically the Internal Revenue Service (IRS). Form 1040 is the most common form used for personal income tax filing, with EZ and A variances, whereas Forms W-2 and W-4 are used in corporate finance in regards to payroll tax.
Interpret a pay stub. (PQ)
A pay stub, also known as a paycheck, is a legal notice including the monetary sums of salary, compensation, and stock bonus that has been deposited to an employee's bank account.
Prepare bank account documents (e.g., checks, deposit/withdrawal slips, endorsements, etc.) (PQ)
Bank account documents include deposit slips, withdrawal slips, checks, passbooks, and account statements. They should contain all necessary information (such as monetary sums).
Maintain financial records. (PQ)
Financial records should include any money spent or saved in a budget.
Read and reconcile bank statements. (PQ)
Bank statements include the financial transactions made over a certain period of time via bank account.
Demonstrate the wise use of credit. (CS)
Credit payments should add up to be less than the total income for the credit period.
Validate credit history. (CS)
Credit history should be checked frequently to ensure that all existent debts have been paid and that no nonexistent debts have been paid. Individuals often validate their credit history before applying for additional credit to make sure the information is accurate.
Protect against identity theft. (CS)
Individuals should avoid sharing personal information such as social security number (SSN) and credit card number to prevent identity theft. Use secure web browsers when purchasing online.
Prepare personal income tax forms (i.e., 1040 EZ form) (CS)
All documents should be gathered and all necessary information should be recorded, such as sources of income, amount of income, and sums of tax-deductible donations.
Describe types of financial-services providers. (CS)
Retail Bank - FDIC insured (0 risk), deposit/withdraw money, bank profits from investments
Credit Union - borrow money for business purposes
Insurance Company - transfer financial risk in exchange for premium
Brokerage Firm - middleman between investors and equities
Discuss considerations in selecting a financial-services provider. (CS)
Reputation and online reviews should be consulted when choosing a provider. The one with the most expertise should always take first priority.
Explain types of investments. (CS)
Mutual Funds - multiple investors pool in money
Real Estate - property ownership
Stocks - shares of corporations (part ownership)
Municipal Bonds - government notes sold for different value
Corporate Bonds - company borrows money
Describe the concept of insurance. (CS)
Insurance is the practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium
Describe the need for financial information. (CS)
Trends in finance can help businesses make decisions based on funds available and history of profits and losses.
Explain the concept of accounting. (CS)
Accounting is the action or process of keeping financial accounts.
Explain the role of finance in business. (CS)
The financial department of a business seeks to lower costs and utilize budget through methods such as budgeting, reporting, and forecasting.
Discuss the nature of human resources management. (CS)
Functions of HRM:
Determining need, determining job descriptions, recruiting, and screening and selecting applicants.
Planning/Analysis - assessing employees' performance and training
Employee Relations - liaisons between managers and subordinates
Health/Safety - ensuring compliance of workplace with OSHA regulations
Compensation/Benefits - payroll and benefits such as health insurance
HR Development - operations of dept.
Staffing - hiring
Equal Employment - working to make workplace more diverse
Orient new employees. (CS)
New employees should know all major company policies, as well as how to dress, act, behave, and perform their duties.
Explain marketing and its importance in a global economy. (CS)
Marketing is the concept of promoting a product to an audience with the goal of selling it to consumers. All businesses market their products and attempt to allow it to appeal to a global market in order to increase opportunity for profit.
Describe marketing functions and related activities. (CS)
Pricing - setting price
Product Management - development to meet needs
Distribution - making products available to consumers
Financing - budgeting for marketing activities
Marketing Information Management - researching trends and info on customers to develop strategies
Selling - communicating with customers to determine and satisfy needs
Promotion - advertising, personal selling, PR
Assess information needs. (CS)
Information needs to include several relevant data sets for comparison that can be used to brainstorm promotional strategies.
Obtain needed information efficiently. (CS)
Surveys can be used to obtain information on customer feedback, while federal documents can be a source of demographic data.
Evaluate quality and source of information. (CS)
If the author's credentials are valid, the quality from the source is likely to be higher.
Apply information to accomplish a task. (CS)
Information can be applied to brainstorming promotional strategies appealing to the data findings.
Store information for future use. (CS)
Information can be stored in electronic spreadsheets and physical documents.
Discuss the nature of information management. (CS)
Information management is the concept of storing information on various data and applying it to business sectors such as marketing and finance.
Identify ways that technology impacts business. (PQ)
Technology can be used to market and sell products as well as improve a company's brand.
Explain the role of information systems. (PQ)
Information Storage - safely keeps information
Decision-Making Assistance - helps companies make decisions based on data trends
Business Process Assistance - allows companies to market and sell appropriately based on demographics
Discuss principles of computer systems. (PQ)
Computer systems include software and hardware. More powerful hardware allows a computer to perform more calculations per unit of time, and software includes operating systems, web browsers, and computer applications.
Use basic operating systems. (PQ)
Employees should know how to type, log in, open browsers, use integrated software, use email and social media, etc.
Describe the scope of the Internet. (PQ)
The Internet is a large digital platform enabling businesses to market and sell products to a global audience.
Demonstrate basic e-mail functions. (PQ)
E-mail functions include forwarding, carbon copying, attaching files, deleting/archiving emails, filtering spam, blocking email addresses, etc.
Demonstrate personal information management/productivity applications. (PQ)
Productivity applications such as presentation and spreadsheet software allows employees to store, organize, and present information.
Demonstrate basic web-search skills. (PQ)
A web search is completed by typing text into the box and clicking the search button.
Demonstrate basic word processing skills. (PQ)
Word processing applications (such as Google Docs) can be used to type, edit, and print documents.
Demonstrate basic presentation applications. (PQ)
Presentation applications (such as Google Slides) can be used to organize information in a visually appealing format that can then be presented to an audience.
Demonstrate basic database applications. (PQ)
Database applications allow companies to store information for future use.
Demonstrate basic spreadsheet applications. (PQ)
Spreadsheet applications (such as Google Sheets) can be used to organize information and compile it in charts, graphs, and tables.
Use an integrated business software application package. (CS)
Integrated business software application packages (such as Google Apps for Business) include word processing, presentation, and spreadsheet applications.
Demonstrate collaborative/groupware applications. (CS)
Collaborative applications (such as Google Drive) allow multiple employees to work together on business electronic deliverables.
Create and post a basic webpage. (CS)
Discuss the nature of data mining. (CS)
Data mining is the process of examining large databases to gather new information.
Explain the nature of operations. (CS)
Operations is the business activity of harvesting value from assets owned by a business. These assets can be tangible or intangible. Operations transform resource or data inputs into desired goods, services, or results, and create and deliver value to the customers. Two or more connected operations constitute a process, and are generally divided into four basic categories: (1) processing, (2) inspection, (3) transport, and (4) storage.
Describe health and safety regulations in business. (PQ)
Health and safety regulations exist to foster a safe workplace for all employees.
Report noncompliance with business health and safety regulations. (PQ)
If health and safety standards are being violated, they should be reported to management to prevent damage to employees or property.
Follow instructions for use of tools, equipment, and machinery. (PQ)
Instructions should be read meticulously before equipment is operated. If necessary, employees should ask the manager for assistance.
Follow safety precautions. (PQ)
All safety precautions should be followed carefully to prevent damage to employees or property.
Maintain a safe work environment. (CS)
By following instructions, regulations, and precautions, employees can maintain a safe work environment.
Explain procedures for handling accidents. (CS)
Accidents should be reported to management or handled as instructed in the employee handbook.
Handle and report emergency situations. (CS)
Emergency situations should be reported to 911 and company management, and the employee should act with common sense at their discretion.
Explain routine security precautions. (CS)
All facilities should be frequently checked to ensure safety protocol is being adhered to. Make sure all doors are lock before leaving if you are the last person.
Follow established security procedures/policies. (CS)
All security policies and procedures should be understood and followed meticulously to prevent damage to employees or property.
Protect company information and intangibles. (CS)
Company information and assets should be kept confidential and protected from theft by cybercriminals.
Explain information privacy, security, and confidentiality considerations in business. (CS)
Information should always be encrypted and secure from cybercriminals and should not be disclosed without authorization.
Maintain data security. (CS)
Data can be secured through encryption software.
Explain the nature and scope of purchasing. (CS)
Customers purchase goods and services from a company anywhere locally, regionally, domestically, or internationally.
Place orders/reorders. (CS)
Orders and reorders are sales contracts, or agreements between two entities agreeing for the financial transaction and tangible or intangible exchange of a good or service.
Maintain inventory of supplies. (CS)
Inventory is the amount of a certain supply available for manufacturing a product and should be maintained to determine long-term goals.
Explain the concept of production. (CS)
Production is the concept of designing, developing and manufacturing a product. It is one of the functions of marketing.
Comply with policies and procedures for use of property and equipment. (CS)
All policies and procedures should be meticulously read and clearly understood by all employees.
Explain the concept of supply chain. (CS)
Supply chain is the sequence of processes involved in the production and distribution of a commodity. They include the manufacturer, vendor, wholesaler, retailer, and finally the consumer.
Maintain appropriate personal appearance. (PQ)
Personal hygiene can be maintained through showers, brushing of teeth, use of deodorant, haircuts, shaving, etc. Women can use makeup if they wish.
Demonstrate systematic behavior. (PQ)
Systematic behavior is the process of accomplish interconnected tasks sequentially or simultaneously, whichever is most efficient.
Set personal goals. (CS)
Personal goals include those in fitness, family, social, spiritual, etc. areas
Adhere to company protocols and policies. (CS)
Company policies and protocols should be meticulously read and properly followed.
Follow rules of conduct. (CS)
Rules of conduct direct appropriate, professional behavior and should be meticulously read and properly understood/followed.
Follow chain of command. (CS)
Interns follow associates who follow managers who follow senior managers who follow vice presidents who follow C-level executives.
Explain the need for innovation skills. (CS)
Innovation and creativity is necessary in any employee as pivotal ideas can lead to major breakthroughs in a company's financial success.
Make decisions. (CS)
Decisions should be made to benefit the employees and company as a whole.
Types of Decision-Making:
Autocratic - 1 person
Minimum Input - 2 people
Moderate Input - more than 2 people, but not all
Laissez Faire - everyone's input
Demonstrate problem-solving skills. (CS)
Problem-solving skills include taking everyone's standpoints and negotiating a compromise to resolve conflict.
Assess personal interests and skills needed for success in business. (PQ)
Personal interests and skills such as socializing, public speaking, and data analysis are key to business.
Analyze employer expectations in the business environment. (PQ)
Employers expect employees to be competent in accomplishing their assigned tasks.
Explain the rights of workers. (PQ)
Workers are guaranteed the right to reasonable pay/benefits and safe working conditions under U.S. federal law.
Identify sources of career information. (CS)
Career information can be found on the Internet or at a local career fair.
Identify tentative occupational interest. (CS)
Tentative occupational interest is an individual's perception of a favorable career that is set to change.
Explain employment opportunities in business. (CS)
Employment opportunities in business includes marketing, accounting, market research, sales, finance operations, business operations, human resource management, etc. in the fields of technology, hospitality, tourism, sports/entertainment etc.
Explain career opportunities in entrepreneurship. (CS)
Career opportunities in entrepreneurship include starting a restaurant, inn, travel agency, medical firm, accounting firm, etc.
Utilize job-search strategies. (PQ)
Jobs can be searched using the Internet or by attending a career fair to network with professionals.
Complete a job application. (PQ)
Job applications require applicants to fill in personal information as well as prior experience.
Interview for a job. (PQ)
An interview is a series of questions asked by a human resources employee to assess the competence of an employee to work in a certain position at a company.
Write a follow-up letter after job interviews. (CS)
Follow-up letters should reinforce the applicant's interest in the company.
Write a letter of application. (CS)
Letters of application are requests to apply for a job.
Prepare a résumé. (CS)
Résumés should include all prior experience and qualifications that support the candidate.
Describe techniques for obtaining work experience. (PQ)
Work experience can be obtained through internship or entrepreneurship.
Explain the need for ongoing education as a worker. (PQ)
Ongoing education (such as receiving an MBA) is necessary to continue to obtain skills necessary in a 21st-century business environment.
Explain possible advancement patterns for jobs. (PQ)
Associates can be promoted to managers who can be promoted to senior managers who can be promoted to vice presidents who can be promoted to C-level positions.
Explain the concept of management. (CS)
Management is the concept of dealing with or controlling things of people.