Business Standards

2007-08

Committee Members
Laurie Hough
Terry Zerr

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Business Standards
GEHS – Accounting I
1. Apply Accounting Concepts
A. Define terminology relating to accounting concepts (R: 1.4.5)
B. Explain the purpose of the accounting system
C. Classify items as assets, liabilities, and capital
D. Apply generally accepted accounting principles and concepts (W: 1.3.7)
E. Explain general journal and the double-entry systems of accounting
F. Apply the accounting equation
G. Apply debit and credit rules when analyzing business transactions
H. Classify accounts
I. Define the three forms of ownership
J. Compare the accounting implications of different types of business ownership (R: 1.4.9)
K. Describe and use source documents (R: 1.4.10)
L. Demonstrate competence in the structure and sequence of the accounting cycle using an electronic system

2. Complete the Accounting Cycle Process

A. Define terminology relating to the accounting process (R: 1.4.5)
B. Analyze transactions relating to the purchase and sale of merchandise and record into special journals
C. Use spreadsheets and/or software to complete the accounting cycle
D. Prepare and utilize a chart of accounts
E. Post transactions to general ledgers
F. Post transactions to subsidiary ledgers
G. Prepare subsidiary schedules
H. Prove cash
I. Prepare a worksheet
J. Prepare and analyze an income statement (M: 1.4.1A)
K. Prepare a balance sheet
L. Prepare a schedule of accounts receivable and accounts payable
M. Prepare a statement of owners’ equity
N. Prepare a statement of distribution of net income
O. Journalize and post adjusting entries
P. Journalize and post closing entries
Q. Prepare a post-closing trial balance

3. Maintain Cash Control

A. Define terminology relating to cash control (R: 1.4.5)
B. Identify cash control procedures
C. Use spreadsheets and/or accounting software to maintain cash control (M: A1.4.1)
D. Write checks
E. Maintain a check register or stubs
F. Endorse checks
G. Reconcile a bank statement
H. Journalize and post to establish and replenish petty cash
I. Journalize and post entries related to banking activities
J. Journalize electronic funds transfers

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4. Complete Payroll Procedures
A. Define terminology relating to payroll (R:1.4.5)
B. Use spreadsheets and/or accounting software to prepare payroll (M: A1.4.1)
C. Calculate time cards (M: A1.4.1)
D. Calculate gross earnings (M: A1.4.1)
E. Calculate net earnings (M: A1.4.1)
F. Prepare and maintain payroll records
G. Prepare payroll checks
H. Calculate employer’s payroll taxes (e.g., social security, federal and state unemployment, Medicare) (M: A1.4.1)
I. Prepare federal, state, and local payroll reports
J. Journalize and post entries related to payroll

5. Technology
A. Prepare data in spreadsheets
B. Maintain and enhance worksheets
C. Move data within and between workbooks
D. Insert formulas in a worksheet (M: K2.2.3)
E. Create charts using spreadsheet data (M: A4.2.1)

6. Career Development and Leadership Skills

A. Apply the steps in the decision making process
B. Utilize problem solving skills
C. Identify and explain the use of common supplies for a given occupational area (R: 1.3.2)
D. Set priorities or the order in which several tasks will be accomplished
E. Demonstrate stress management skills
F. Apply employee rules, regulations, and policies in a given occupational area
G. Assess and use information to develop educational and career options
H. Participate in career exploration activities
I. Display courtesy, tactfulness, and patience
J. Value diversity, practice tolerance and acceptance, and work cooperatively toward common goals

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Business Standards
GEHS – Computerized Accounting II
1. Accounting Organized as a Corporation
A. Recording purchases and cash payments using special journals (W: 1.3.7)
B. Recording sales and cash receipts using special journals (W: 1.3.7)
C. Accounting for uncollectible accounts receivable
D. Accounting for plant assets and depreciation
E. Accounting for inventory
F. Accounting for notes and interest
G. Accounting for accrued revenue and expenses
H. Distributing dividends and preparing a worksheet
I. Financial statements and end-of-fiscal-period entries for a corporation (W:1.3.7)

2. Introduction to Computers and Quickbooks

A. Use menu commands
B. Use keyboard shortcuts/conventions
C. Use QuickBooks icon bar
D. Use lists, registers, reports, and Quickzoom
E. Use QuickBooks graphs and QuickReports (M: A4.2.1)
F. Determine how to use: QuickMath windows calculator, close, copy and backup

3. Sales and Receivables: Service Business

A. Open and verify company
B. Use Navigator and inside tips
C. Enter sales on account, print invoices and A/R reports
D. Add new: account, customer, items to list
E. Print sales receipts, customers, detail report
F. Print journal, trial balance, and graphs

4. Payables and Purchases: Service Business

A. Enter and print an invoice and a purchase order transaction
B. Enter and process a credit memo
C. Print the invoice and purchase order register
D. Print sales journal and purchases journal
E. Print checks for bills
F. Establish a petty cash fund
G. Prepare a check detail report

5. General Accounting and End-of-period Procedures

A. Add, delete, edit, make inactive the account maintenance
B. Adjust entries, owner withdrawals, and view general journal
C. Prepare, adjust, view, and print bank reconciliation (M: A1.4.1)
D. Prepare and print cash flow forecast profit and loss, and balanced sheet (M: A1.4.1)
E. Perform end-of-period backup and closing
F. Access and edit transactions for previous period (M: A4.2.1)
G. Print post-closing reports

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6. Sales Receivables: Merchandising Business
A. Enter, edit, correct and print invoice sale on account (M: A4.2.1)
B. Prepare accounts receivable reports
C. Prepare customer balance detail report
D. Prepare sales discounts and credit memos
E. Record cash sales with sales tax
F. View/print sales tax payable register
G. Deposit checks and credit card receipts
H. Record insufficient fund return check
I. Print journal, trial balance, and graphs

7. Payables and Purchases: Merchandising Business

A. Prepare, view, edit, and print purchase orders
B. View stock status by item inventory report
C. Receive items ordered
D. Enter receipt of items and a bill
E. Purchase and pay for items using credit card
F. Edit/enter using the accounts payable register
G. Print checks to pay bills
H. Void and delete purchase orders, bills, checks, and credit card payments
I. Create graphs (M: A4.2.1)

8. General Accounting and End-of-Period Procedures: Merchandising Business

A. Define partnership
B. View general journal
C. Prepare owner withdrawals
D. Prepare balance sheet
E. Transfer combine capital into individual capital account for each partner
F. View employee journal report
G. Pay taxes and other liabilities
H. File payroll tax forms: 921, 940, and W-2 (W: 1.3.7)

9. Career Development and Leadership Skills

A. Reduce barriers (or interfaces) that may impede effective listening
B. Apply the steps in the decision making process
C. Utilize problem solving skills
D. Participate in team tasks
E. Identify and explain the use of common supplies for a given occupational area (R: 1.3.2)
F. Set priorities or the order in which several tasks will be accomplished
G. Demonstrate stress management skills
H. Apply employee rules, regulations, and policies in a given occupational area
I. Assess and use information to develop educational and career options
J. Participate in career exploration activities
K. Display courtesy, tactfulness, and patience
L. Value diversity, practice tolerance and acceptance, and work cooperatively toward common goals

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Business Standards
GEHS – Computerized Accounting III
1. Perform Accounting Cycle Process for Departmentalized Business
A. Use spreadsheet and/or accounting software to maintain departmentalized records
B. Define terminology relating to departmentalized accounting (R: 1.4.5)
C. Set up an accounting system for a departmentalized business using an accounting software package
D. Journalize transactions in special journals
E. Post transactions from special and general journals to general and subsidiary ledgers
F. Prepare and maintain payroll records for a departmentalized business
G. Prepare interim departmental statements
H. Prepare a departmental statement
I. Journalize and post closing entries for a departmentalized business

2. Maintain Voucher Control Systems

A. Use spreadsheets and/or accounting software to maintain voucher records (M: A1.4.1)
B. Define terminology relating to voucher control systems (R: 1.4.5)
C. Prepare vouchers
D. Journalize vouchers
E. Record payment of vouchers

3. Prepare Accounting Adjustments

A. Use spreadsheets and/or accounting software to record accounting adjustments (M: A1.4.1)
B. Define terminology relating to accounting adjustments (R: 1.4.5)
C. Calculate depreciation of plant assets (M: A1.4.1)
D. Prepare a plant asset register
E. Journalize disposal of plant assets
F. Calculate bad debts (M: A1.4.1)
G. Journalize bad debts expense
H. Journalize adjustments of prepaid expenses as assets or expenses
I. Journalize adjustments of prepaid revenue as liabilities or income
J. Calculate maturity date on notes (M: A1.4.1)
K. Calculate interest on notes and discounted notes (M: A1.4.1)
L. Journalize adjustments of accrued expenses
M. Journalize adjustments of accrued revenue
N. Journalize cash short and over
O. Journalize reversing entries

4. Complete the Accounting Cycle Process for Corporations

A. Use spreadsheets and/or accounting software to maintain corporate records (M: A1.4.1)
B. Define terminology relating to the accounting cycle process for corporations (R: 1.4.5)
C. Describe how corporations acquire initial capital and/or additional capital (R: 1.4.5)
D. Relate the difference between the various kinds of stock (R:1.4.9)
E. Journalize transactions for the formation of a corporation
F. Calculate cash/stock dividends (M: A1.4.1)
G. Journalize the transactions for stocks subscribed
H. Journalize the issuance of stock
I. Journalize entries for issuing additional capital stock
J. Journalize entries for buying and selling treasury stock
K. Journalize entries for bonds payable

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 L. Calculate foreign currency exchange gains and losses (M: A1.4.1)
M. Journalize adjusting entries for corporations
N. Journalize closing entries for corporations
O. Prepare reports that reflect the financial analysis of a corporation (W: 1.3.10)

5. Complete Cost Accounting Procedures

A. Use spreadsheet and/or accounting software to maintain cost accounting records (M: A1.4.1)
B. Define terminology relating to cost accounting (R: 1.4.5)
C. Journalize entries for direct and indirect expenses
D. Journalize cost entries for a merchandising business
E. Prepare a materials ledger
F. Prepare a finished goods ledger for a manufacturing business
G. Prepare a cost sheet for a manufacturing business
H. Prepare a statement of cost of goods manufactured
I. Journalize entries that summarize cost records at the end of the fiscal year

6. Career Development and Leadership Skills

A. Reduce barriers (or interfaces) that may impede effective listening
B. Apply the steps in the decision making process
C. Utilize problem solving skills
D. Participate in team tasks
E. Identify and explain the use of common supplies for a given occupational area (R: 1.3.2)
F. Set priorities or the order in which several tasks will be accomplished
G. Demonstrate stress management skills
H. Apply employee rules, regulations, and policies in a given occupational area
I. Assess and use information to develop educational and career options
J. Participate in career exploration activities
K. Display courtesy, tactfulness, and patience
L. Value diversity, practice tolerance and acceptance, and work cooperatively toward common goals

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Business Standards
GEHS – Bookkeeping/Business Machines
1. Personal Finance
A. Develop and prepare a budget (M: A1.4.1)
B. Calculate and check reductions, sales tax, and totals on sales slips (M: A1.4.1)
C. Identify fixed and flexible expenses
D. Write checks and deposit slips
E. Calculate a checkbook balance (M: 1.4.1)
F. Reconcile a bank statement (M: A1.4.1)

2. Commercial Finance
A. Apply mathematical skills to utilize the services of banking and financial institutions for loans, investing and savings
B. Calculate interest, due date, and maturity value of a loan and credit purchases (M: A1.4.1)
C. Interpret and complete a credit agreement (R: 1.4.10) (W: 1.3.10)
D. Calculate the monthly payment on an installment loan (M: A1.4.1)
E. Calculate a loan payoff and the unearned finance charge (M: A1.4.1)

3. Entrepreneurship
A. Prepare cash receipts for business records
B. Prepare cash payments for business records
C. Compute gross pay for hourly and salaried workers
D. Calculate gross pay for regular wages and overtime wages from a time card and/or piecework (M: A1.4.1)
E. Calculate net pay, fringe benefits and commission (M: A1.4.1)
F. Evaluate the difference between net pay and gross pay (R: 1.4.5)
G. Determine the value of fringe benefits

4. Taxes
A. Calculate sales tax using a table and sales tax rate (M: A1.4.1)
B. Determine the Social Security retirement or disability benefit

5. Performing Financial Functions

A. Use touch system of entry on calculators and 10 key pads
B. Maintain petty cash fund
C. Reconcile cash count and receipts ( M: A1.4.1)
D. Prepare bank deposits
E. Make journal entries
F. Reconcile journals (M: A1.4.1)
G. Complete vouchers for payment
H. Complete purchase requisitions
I. Process invoices
J. Keep records of office expenses
K. Determine budgetary requirements for office

6. Financial Institutions
A. Compare types of financial institutions (R: 1.4.9)
B. Identify the services of full service institutions
C. Compare various types of checking and savings accounts
D. Open checking and savings accounts
E. Explain electronic banking procedures

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 F. Explain functions of the Federal Reserve System
7. Saving and Investing
A. Identify and explain the basic steps involved in good money management
B. Record income and expenses for one month
C. Explain the importance of saving and investing

8. Credit
A. Explain the functions of money and credit
B. Describe types of credit
C. Compare sources of credit (R: 1.4.9)
D. Determine appropriate type of credit to use for particular situations
E. Describe advantages and disadvantages of using credit
F. Identify common credit documents and explain the meaning of important provisions in the document
G. Interpret a credit contract
H. Calculate the costs of credit
I. Complete a credit application
J. Explain functions of credit reporting agencies
K. Explain the importance of having a good credit rating

9. Computer Technology
A. Prepare a computerized spreadsheet to analyze and present date

10. Accounting and Financial Planning

A. Explain the differences between the terms accounting and bookkeeping (R: 1.3.2)
B. Distinguish between a journal and a ledger (R: 1.3.2)

11. Career Development and Leadership Skills

A. Demonstrate time management skills
B. Follow oral instructions:
a. Listen for steps or actions to be performed
b. Listen for clues regarding the order or sequence in which a task is performed
C. Reduce barriers (or interference) that may impede effective listening
D. Demonstrate interpersonal skills:
a. Tact and diplomacy
b. Respect for others
c. Respect for diversity
E. Apply the steps in the decision making process
F. Utilize problem solving skills:
a. Identify the problem for resolution
b. Utilize research and assessment skills
c. Offer solutions to a problem
G. Control emotions under demands, time, pressure, and opposition
H. Identify and explain the use of common supplies for a given occupational area
I. Locate information and select the materials, tools, equipment, or other resources to perform the activities needed to
accomplish a specific task
J. Set priorities or the order in which several tasks will be accomplished
K. Demonstrate time management skills
L. Develop strategies to overcome procrastination and meet deadlines
M. Maintain punctuality and dependability
N. Maintain accuracy
O. Participate in career exploration activities

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Business Standards
GEHS – Business Law
1. Basics of the Law
A. Describe the powers and limitations of the federal government as stated in the Constitution
B. Identify the basic freedoms guaranteed by the Bill of Rights and describe several key Constitutional amendments
beyond the Bill of Rights
C. Compare and contrast the national constitution with state, territory, and province constitutions
D. Determine how courts make law and explain the role of precedent in the legal system

2. Structure of the Courts

A. Differentiate among the cases that belong within the jurisdiction of the federal and state, territory, and province
court systems
B. Compare the role of the juvenile court with the role of other courts within a state, territory, or province
C. Explain the role of the national and state, territory, and province appellate courts
D. Differentiate between the roles of the U.S. Supreme Court and state, territory, and province supreme courts

3. Classification of Substantive Law

A. Distinguish between a tort and a crime
B. Differentiate between and give examples of negligence and intentional torts
C. Explain the concepts of the reasonable person test and proximate cause
D. Explain absolute liability and describe circumstances under which it is imposed

4. Contract Law, Law of Sales, and Consumer Law

A. Differentiate among classes of contracts, such as bilateral and unilateral; express and implied; and oral and written
B. Explain how offer and acceptance can create contractual rights and duties
C. Determine whether or not an agreement is definite enough to be enforced as a contract
D. Differentiate among the ways that assent can be disrupted, such as fraud, nondisclosure, misrepresentation,
mistake, duress, and undue influence
E. Explain a minor’s right to avoid a contract and identify people who lack contractual capacity
F. Describe the concept of unconscionability and compare it to illegality
G. Describe the various rules applied to interpretation of contracts
H. Explain the various rules applied to contracts involving third parties
I. List the ways a contract can be discharged
J. Describe breach of contract and the remedies available when a contact is breached
K. Identify legislation which regulates consumer credit
L. Discuss consumer protection legislation

5. Agency and Employment

A. Distinguish between an agent and individuals, such as independent contractors, real estate brokers, bailees, and
trustees
B. Distinguish between a general power of attorney and a limited power of attorney
C. Explain the different types of agents
D. Explain the relationship of the Title VII of the Civil Rights Act to employment
E. Determine what questions can and cannot be asked during an employment interview (M: A4.2.1)
F. 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
G. Identify legislation that regulates employment conditions
H. Determine legislation which guarantees worker benefits, such an unemployment insurance legislation, pension
protection legislation, workers compensation, and social security legislation

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 I. Describe the collective bargaining process
J. Identify legislation that regulates union activities

6. Business Organizations
A. Outline the legal procedures for forming and running a sole proprietorship (W: 1.3.9)
B. Explain the property rights involved in partnerships, such as tenancy in partnership and sharing of profits
C. Identify how the partnership may be dissolved by the acts of the partners, operation of the law, and by the order of
the court
D. Distinguish a limited partnership from a general partnership
E. Explain the rights and duties of limited partners and general partners in a limited partnership
F. Explain the distribution of assets after the dissolution of a limited partnership
G. Differentiate among types of corporations, such as profit, non-profit, domestic, and foreign
H. Explain the steps in forming a corporation
I. Describe the functions of the board of directors and officers of a corporation
J. Differentiate among the types of stock, such as common and preferred
K. Identify shareholders rights
L. Describe when promoters, directors, and officers are liable to the corporation, shareholders, and third persons

7. Property Law
A. Identify the forms of co-ownership of personal property
B. Explain how a bailment is created and describe the standard of care different bailees are required to exercise over
bailed property
C. Distinguish between an ordinary bailment and a special bailment
D. Identify a common carrier’s liability for loss or damage to goods
E. Distinguish among liens, licenses, and easements and explain the difference
F. List the major estates in land and describe the major features of each (W: 1.3.7)
G. List and describe the forms of co-ownership of real property (W: 1.3.7)
H. Illustrate the method of transferring title to real property
I. Describe the kinds of rental relationships that landlords and tenants may create

8. Commercial Paper and Bankruptcy

A. Identify and explain the essential elements of a negotiable instrument
B. Describe the different types if negotiable instruments and different types of endorsements
C. Explain the contractual relationship between the bank and its customers
D. Describe the stop-payment orders
E. Describe and discuss the various aspects of Bankruptcy
F. Compare the differences between voluntary bankruptcy and involuntary bankruptcy cases

9. Computer Technology
A. Utilize computer technology where appropriate

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Business Standards
GEHS – Entrepreneurship
1. The Role of the Entrepreneur
A. Explain and evaluate the primary characteristics of a successful entrepreneur
B. Analyze the degree to which one possesses the characteristics of an entrepreneur
C. Describe the unique contributions of entrepreneurs in the American economy
D. Describe an entrepreneurial opportunity in a local area
E. Analyze potential business opportunities in relation to personal preferences, financial worthiness, and perceived
risk
F. Identify potential problems facing a planned business
G. Evaluate the advantages and disadvantages of starting a business from scratch versus buying an existing business

2. Forms of Business Organization

A. Identify the difference between a sole proprietorship and a partnership
B. Define a corporation and explain how it differs from a sole proprietorship and a partnership
C. Define and give examples of a franchise
D. Describe the pros and cons of owning a franchise
E. Describe how to evaluate franchise opportunities
F. Given the facts about a possible new business, indicate the form of business organization that could be used
G. Describe the components of the ingredients of legal business contracts, leases, etc.

3. Characteristics of a Market Economy,

A. Describe the relationship between private ownership and a market economy
B. Describe how a market economy resolves the problems of what, how, and for whom to produce
C. Explain the determinants of supply and demand
D. Explain the effect of different market structures on market price

4. Identifying the Market

A. Determine the wants of specific consumers
B. Determine potential buyers of specific products at various price levels
C. Estimate market share for a specific product or service
D. Identify target markets for potential new businesses
E. Use primary and secondary data sources to locate information about potential target markets (M: A4.2.1)
F. Develop a customer profile for a planned business
G. Design a new product to meet unfilled consumer wants

5. Researching the Market

A. Identify components of marketing (i.e., product, place, price, promotion, people)
B. Explain the importance of location of a business
C. Complete a location feasibility study for a planned business
D. Plan the layout and facilities needed for a planned business
E. Design a marketing plan for a specific business (W: 1.3.10)
F. Select appropriate channels of distribution to reach a target market
G. Evaluate the effectiveness of promotional efforts
H. Modify marketing plans based on customer feedback

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6. Business Plans
A. Describe the importance of planning
B. Describe the use of a business plan
C. Identify the major components of a business plan
D. Identify the information to be included in each of the components of a business plan
E. Identify sources of information to be included in the plan
F. Identify sources of technical assistance to be used in preparing a business plan
G. Develop a plan for a specific business (W: 1.3.10) (W: 1.2.7)

7. The Function of Price

A. Establish prices for identified products
B. Compute the difference between total revenue and expenses (M: A1.4.1)
C. Make a decision based on opportunity cost to go into a specific business (or stay in a specific business) (M: A1.3.1)
D. Establish a profit goal for a planned business

8. Finance
A. Determine the resources needed to produce a given product,
B. Determine the costs of producing a given product (M: A1.4.1)
C. Project the total cash needed to start a business (including start-up, ongoing operational expenses, and cash
reserves) (M: A1.3.1)
D. Explain the advantages and disadvantages of the most common sources of borrowing
E. Identify the major sources of funding for a business
F. Evaluate supplier terms
G. Describe why the analysis of financial statements is important for the business
H. Examine a profit/loss statement to determine whether a business is profitable (M: A4.2.1)
I. Identify factors which cause changes in the financial picture of a business
J. Discuss the personal risks involved in financing a business

9. Accounting
A. Identify the reasons for keeping business records,
B. Identify types of financial records
C. Describe the type of data that is kept in each business record
D. Describe the inter-relationships of various records
E. Describe the effect that an inaccurate or missing record has on other records
F. Identify essential records needed for the day-to-day operation of a planned business
G. Identify and use appropriate software to fulfill record keeping needs
H. Prepare an opening-day balance sheet for a planned businesses
I. Prepare one-year pro forma statements for a planned business
J. Make personnel and purchasing decisions based on current sales data (M: A4.2.1)
K. Compare costs involved in renting or leasing equipment
L. Identify tax laws and rules that affect small business ownership

10. Management
A. Determine computer needs for proposed business
B. Establish control practices and procedures for a planned business
C. Assess requirements for inventory management control techniques
D. Diagram the organizational structure of a planned business
E. Write job descriptions for positions in a planned business (W: 1.3.10)
F. Name and explain several practices of an entrepreneurial leader
G. Develop an appropriate compensation plan for a planned business
H. Demonstrate effective leadership and motivation techniques in small group situations

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11. Risk Management
A. Develop business policies (credit, personnel, etc.)
B. Investigate types of business insurance necessary
C. Estimate cost of necessary insurance
D. Describe alternatives in risk management
E. Develop procedures to prevent shoplifting and embezzlement

12. Customer Service

A. Analyze techniques of customer motivation
B. Demonstrate concepts of selling and customer motivation
C. Develop policies and procedures for serving customers
D. Discuss the importance of responding to customer concerns
E. Select appropriate methods to respond to customer concerns
F. Establish strategies for maintaining customer loyalty
G. Establish quality control procedures

13. Government Regulations

A. Analyze the effect of government intervention on entrepreneurial incentives
B. Given a specific business situation, identify and evaluate the various ways in which government affects the
business
C. Analyze the impact of governmental regulations on a planned business
D. Acquire the information necessary to comply with governmental regulations affecting a planned business

14. Business Ethics

A. Define ethics and identify common ethical issues that are encountered by an entrepreneur
B. Describe a personal code of ethical behavior
C. Given a problem situation, analyze the effect on a business of unethical behavior
D. Identify strategies that address and improve ethical behavior in a small business

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Business Standards
GEHS – Marketing I
1. Core Functions of Marketing
A. Understand the role of marketing in a free enterprise economy
B. Explain the economic benefits of marketing
C. Explain the marketing concept
D. List the target market for a product/service
E. Use the basic sales approaches and understand the psychological principles involved
F. Approach the customer
G. Determine customer’s wants and needs
H. Present product or service features as customer benefits
I. Answer the customer’s objections
J. Close the sale
K. Use suggestion selling
L. Analyze products and develop customer benefits
M. Analyze personal interests, aptitudes, traits, abilities, and attitudes
N. Identify personal strengths and weaknesses
O. Complete a personal interview and follow-up
P. Identify different target markets
Q. Identify promotional methods for different target markets
R. Calculate markups and markdowns as they relate to repricing products/services
S. Describe marketing functions and related activities (MK: 002)
T. Describe the need for marketing information (IM: 012)
U. Explain the role of ethics in marketing-information management (IM: 025)
V. Explain the concept of marketing strategies (IM: 194)
W. Explain the concept of market and market identification (IM: 196)
X. Explain the role of promotion as a marketing function (PR: 001)
Y. Identify the elements of the promotional mix (PR: 003)
Z. Explain the types of advertising media (PR: 007)
AA. Coordinate activities in the promotional mix (PR: 076)
BB. Explain marketing and its importance in a global economy. (MK: 001)
CC. Explain factors affecting pricing decisions.(PI: 002)

2. Business, Management, and Administration (BMA) - Core Foundations

A. Develop strategies for legal/government compliance (BL: 011)
B. Explain the types of economic systems (EC: 007)
C. Determine factors affecting business risk (EC: 011)
D. Explain the concept of competition (EC: 012)
E. Describe businesses' market structures (EC: 075)
F. Explain the nature of positive customer/client relations (EI: 031)
G. Utilize information-technology tools (web-search, word processing, presentation and spreadsheet applications) to
manage and perform work responsibility. (IM: 263, 264, 265, 267)
H. Explain types of business ownership. (BL: 003)
I. Explain the principles of supply and demand. (EC: 005)
J. Explain the concept of private enterprise. (EC: 009)
K. Determine factors affecting business risk. (EC: 011)
L. Explain the concept of competition. (EC:012)

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3. Academic Competencies - Language Arts
A. Organizes business correspondence, instructions, descriptions, summarizes and reports in a logical and effective
sequence to meet the readers’ informational needs. {W: 1.3.7}
B. Writes with an awareness of purpose and audience (e.g. letters, complex reports, directions, graphics, brochures,
electronic presentations, newsletters, memos, job searches, fliers, e-mails, Web pages, pictorials). {W: 1.3.10)
C. Determines meaning of marketing words or phrases using context clues. (R:1.3.2)
D. Uses paraphrasing and organizational skills to summarize information. (R: 1.4.10)
E. Participate in group discussions for problem resolution
F. Use proper techniques to make a formal oral presentation
G. Expand scope of reading materials to include business-related publications
H. Analyze and synthesize from print and electronic sources for group discussions and team-building activities
I. Distinguishes between fact and opinion and recognizes propaganda. (R: 1.4.16)
J. Explain the nature of verbal communications. (CO: 147)
K. Participate in group discussions. (CO: 025)
L. Make oral presentations. (CO: 025)
M. Prepare simple written reports. (CO: 094)

4. Academic Competencies – Math

A. Solves multi-step real-world problems with real numbers using computational procedures. (M: A1.4.1)

5. Academic Competencies – Science and Technology

A. Explain how the advancement of technology enhanced the way telecommunications have affected our lives

6. Career Development - Teamwork

A. Participate in team tasks:
a. Establish team goals
b. Establish team standards
c. Receive and give information
d. Process information
e. Plan for action
f. Complete team task on time
B. Build group consensus
a. Clarify statements
b. Reconcile disputes and disagreements
c. Propose alternative plans for action
d. Respond positively to ideas and suggestions
e. Express agreement or neutrality
f. Demonstrate conflict resolution skills
g. Express disagreement diplomatically

7. Career Development – Time Management

A. Set priorities or the order in which several tasks will be accomplished
B. Identify and control personal “time wasters”.
C. Develop strategies to overcome procrastination and meet deadlines
D. Develop a daily time plan for work, family, and other responsibilities
E. Demonstrate stress management skills

8. Career Development – Work Ethics

A. Interpret standard workplace policies related to:
a. Safety
b. Personal discipline (personal leave and absence)
c. Causes for termination/legal actions

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 B. Apply employee rules, regulations, and policies in a given occupational area, including:
a. Punctuality and dependability
b. Responsibility for position
c. Accuracy
d. Cost effectiveness
C. Understand the value effective work ethic attitudes and behaviors such as
a. Acceptance of the job requirements
b. A willingness to take initiative with new challenges
c. Take responsibility for decisions and actions

9. Career Development – Career Planning

A. Access and use information to develop educational and career options
B. Participate in career exploration activities
C. Identify desirable personality traits important to business. (EI: 018)
D. Utilize career-advancement activities that can contribute to professional development (membership in DECA).
(PD:036)

10. Personal Leadership Skills

A. Analyze self-worth and self-discipline through participation in the activities of an organization
B. Display courtesy, tactfulness and patience
C. Evaluate personal traits (including initiative, self-esteem, creative thinking, adaptability, and motivation
D. Value diversity, practice tolerance and acceptance, and work cooperatively toward common goals
E. Communicate creatively with stories, examples, pictures, props, etc., to help convey your message
F. Apply the elements of successful inter-group communication
G. Apply one or more problem-solving processes to a given situation(s)
H. Establish and examine personal short and long-term goals, including resources needed to reach these goals
I. Define goals , identify priorities, and establish objectives for a project
J. Accept responsibility for personal decisions and actions
K. Cooperate and compromise through team work and group participation
L. Display appropriate image and dress

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