Business Administration Core PI's

Protect against identity theft (CS)

1. Identify theft: unethical and fraudulent act of stealing and using person's private identifying information a. Use a scenario b. Be careful with sensitive information, shred mail, make sure credit and debit cards safe, reconcile bank statements, online privacy (passwords), be aware of phishing and affinity fraud 2. Give examples

Explain the need for ongoing education as a worker (PQ)

1. Industries: constantly changing a. Stay current with latest development, skills, and new technologies for their fields i. Boost confidence ii. Sustain skilled and specialized workforce b. Comply with laws, remain certified, maintain membership c. Understand change, become more valuable worker 2. Local colleges, training centers, digitally, workplace, trade associations 3. Example "I" to scenario a. "For this job, I__"

Describe functions of money (medium of exchange, unit of measure, store of value) (PQ)

1. Money very useful a. Facilitates cash flow, allows for daily life, and save for future 2. Three main functions a. Medium of exchange: facilitates transactions i. Instead of bartering, efficiency b. Store of value i. Hold value over time if it can function as medium of exchange 1. Not unique store of value, but is more liquid, easily transported 2. Save, retrieved, and exchanged at later time c. Unit of measure i. Common measure for goods and services being exchanged 1. Less bartering a. Cow=1/2 lawnmower 2. Puts a price on things and value for goods and services 3. Give lots of examples

Report noncompliance with business health and safety regulations (PQ)

1. Noncompliance occurs when a health and safety regulation is not follow 2. Create dangerous circumstances 3. Reduce future incidents (example) 4. Report to supervisor or government agency (OSHA) a. Prevent employers from retaliating against worker that reported violation b. Documentation and witness c. Provide details so find solution 5. Give examples and connect back 6. Visual: (survey 40% said that they were afraid) link to retaliation claim

Interpret and adapt to a business's culture (SP)

1. Organizational culture: system of shared assumptions, values, and beliefs which governs how people behave in organizations 2. Affect key job characteristics and workplace characteristics in the areas of decision-making, communication, recognition, interaction a. Through degree of risk, precision, achievement, collaboration, competitive, and rule orientation 3. Adapt: fit in and maximize efficiency a. Identify culture b. Meet people c. Listen and learn d. Recognize my own personality, what to change, and how to fit in e. Ask questions f. Acknowledge mistakes and view events as learning experiences 4. Examples in scenario

Place orders/reorders (CS)

1. Procure goods or services 2. Reorder: ask to make, supply, or deliver same goods again 3. Connect?

Identify quality-control measures (SP)

1. Quality control measures ensure that a manufactured product or service adheres to a defined set of criteria and meets the requirements of the client or customer a. Process of maintaining that goods and services are dependable, satisfactory, fiscally sound 2. Training personnel and establish personnel requirements 3. Creating benchmarks for product quality 4. Standardized way to test and report a. Feedback on products and worker performance 5. Test products 6. Quality assurance: each stage of production 7. Corrective responses 8. Examples in scenario (actually use quality control measures)

Analyze employer expectations in the business environment (PQ)

1. Knowing them can help you guide your behavior and work 2. Cooperation, initiative, strong work ethic a. Punctual, follow direction, responsible, manage my time and emotions, ethical and honest, hardworking, positive attitude, neat and clean appearance 3. Examples

Explain marketing and its importance in a global economy (CS)

1. Marketing: coordination of business activities through concept to consumer a. Much more than advertising: crucial function of business i. Simplified as marketing mix (4Ps) 1. Product: identification and development 2. Price: setting (low and high) 3. Place: channel of distribution and location (online) 4. Promotion: development and implementation of strategy a. All with marketing concept in mind: satisfy needs of consumer while protecting the business 2. Global economy: globalization of production and distribution opens up new opportunities a. Generate more profit b. Even out income stream by supplementing domestic sales with international sales i. Sun tan lotion c. Effective and efficient: outsourcing lower costs and increase quality d. Maintain consistent brand image: spread the mission 3. Link to scenario/integrate

Explain routine security precautions (CS)

1. Measures taken to prevent theft, espionage, or sabotage 2. Physical (tangible) a. Examples: key-card, alarms, security cameras 3. Digital (intangible) a. Examples: firewalls, conducting virus scan, IT systems, patents and trademarks 4. Internal a. Stat: most theft internal b. Embezzlement (inventory and check accounting) 5. Important: safe work environment, maintaining company value, and our corporate image 6. Connections

Motivate team members (SP)

1. Motivate team members: move them to action a. Important in order to maximize efficiency and productivity b. Help a team function better and improve interpersonal relationships 2. Clear about purpose of job and mission a. Set clear goals to guide the mission 3. Provide a reason for it: stress the benefits to team members and why they should care a. What problem is it solving? How your goal affects them? b. Show that their efforts will not go to waste 4. Make them feel ownership in the vision 5. Pay people what they are worth with pleasant place to work 6. Foster collaboration: encourage participation and communication a. Make them feel valued: recognize accomplishments and input b. Ask for feedback to improve your team 7. Don't want to micromanage, be bored, or get too competitive a. Stress the 'team' aspect 8. Give support and be an example 9. Foster trust 10. Be positive 11. Celebrate success and follow up 12. Examples in scenario

Discuss the impact of cultural and social environments on global trade (SP)

1. Multinational business is not without difficulties to overcome a. Globalization: no longer cross borders, crossing cultures 2. Important to adapt to the cultural and social environments in order to stay competitive a. Change in most basic: customers i. Preferences, ethics, beliefs b. Audience: change marketing, or even product design to adapt to customs and values c. Sensitivity, communications, context, teamwork d. Conducting business: gestures and language 3. Different approach to business relationships and marketing practices, sometimes even different mindsets 4. Examples in scenario

Use networking techniques to identify employment opportunities (SP)

1. Networking: interacting with others to exchange information and develop contacts 2. Identify who can help you 3. Identify network 4. Quality of your network 5. Reach out and build relationships 6. Maintain network 7. Work hard 8. Examples in scenario

Explain the nature of office politics (CS)

1. Office politics: strategies people utilize to gain advantage personally or for a cause a. Bad politics: personal advantage at expense of others b. Good politics: fairly promote yourself and your cause, networking c. Identify: influential, authority, respected d. Understand: who gets along, who in conflict e. Build relationships: be outgoing f. Make most of your network g. Don't gossip, use self-control and maintain integrity 2. Give examples

Follow established security procedures/policies (CS)

1. Policies broader, procedures detailed instructions 2. All important: tell employees what to do a. Environment safe, protect employees and customers from damage b. Examples 3. Make sure that you understand them a. Written or verbal b. Read carefully and active listening 4. Give lots of examples

Demonstrate basic presentation applications (PQ)

1. Presentation applications: software that creates graphic presentations by integrating text, audio, and video a. Includes slides b. Support an oral presentation by providing visual aids and making it easier to follow and easier to understand c. Computer-based: Powerpoint and Keynote, Web-based: Google Slides, Sliderocket, Haiku Deck 2. Applications a. Create slide, delete, copy, insert, background, animation, audio, transition b. Templates 3. Sales presentations, pitches, speech, educational 4. Examples of when you would use presentation applications in scenario and give a storyboard

Comply with policies and procedures for use of property and equipment (CS)

1. Prevent damage to yourself and business property a. 75% of workplace related injuries stem from misuse of business equipment i. Bar graph with types of workplace related injuries 2. Always make sure you understand instructions before you work 3. Upper level train lower a. List of instructions b. Pay attention during training i. Many think not important. . .but that can make a difference c. Don't be afraid to ask 4. Intellectual - careful with copyright 5. Give examples 6. Connect back

Explain the concept of production (CS)

1. Production: processes and methods involved in transformation of inputs into goods or services 2. Categories used: natural resources, agricultural products, processed goods a. Producers, extractors, farmers, and manufacturers 3. Cultivation 4. Processing 5. Manufacturing 6. Importance of farmers (we may not realize it) 7. Give lots of examples and connect/integrate

Follow safety precautions (PQ)

1. Actions taken in advance to protect against possible danger a. There are 689,000 workplace accidents each year. 500,000 of them can be avoided. 2. Understand them and THEY ARE IMPORTANT 3. Connect to world and to you a. Cleaning up spills

Demonstrate collaborative/groupware applications (CS)

1. Collaborative software or groupware: application software to help people involved in common task to achieve their goals a. Share and sync information and communicative with each other easily b. Google Drive, Adobe Acrobat, etc. i. Multiple locations by multiple people ii. Common: central repository, share calendars, web conferencing (Voice over Internet Protocol) 2. Give demonstrations with Drive

Manage the bid process in purchasing (SP)

1. Competitive bid: way to procure goods and services with sellers quoting prices and buyer accepting bids 2. Price and terms of offer 3. Time 4. Request for bids and fairness 5. Contract, communication 6. E-procurement 7. Examples in scenario (manage bid process)

Identify types of currency (paper money, coins, banknotes, government bonds, treasury notes, etc.) (PQ)

1. Currency: money in any form when used as medium of exchange a. Paper money/banknote b. Coins c. Check d. Government bonds e. Treasury notes: security of government (medium-term, fixed interest) f. Credit and debit 2. Simplifies processes and promotes efficiency a. When you can't use lots of cash for a car, you can use credit or debit 3. Lots of examples to back it up

Discuss the importance of ethics in data mining (SP)

1. Data mining: examining large databases in order to generate new information 2. Ethics: moral principles that guide behavior 3. Information is power 4. Collection a. Quality of source, obtaining, accuracy 5. Access: breaches, consent, privacy 6. Dissemination: misinformation 7. Trust between customers and business 8. Examples in scenario

Describe health and safety regulations in business (PQ)

1. Ensure health, safety, and welfare of all employees a. Employer and employee responsibility i. Follow ii. Goodwill and anti-discrimination 2. Moral a. Change lives forever i. Triangle Factory 3. Economic a. Reduce costs b. Public image c. Productivity careful 4. Legal a. Lawsuits 5. Organizations a. OSHA fines and shut down (Occupational Safety and Health Administration) 6. Connect back

Explain employee's role in expense control (SP)

1. Expense control: practice of managing and reducing business costs a. Employees play a large role 2. Expenses a. Wages b. Travel c. Waste supplies and unethical use of company property/time d. Customer service e. Lookout for shoplifting and employee theft f. Human risk and accidents 3. Examples in scenario: how I help expense control and plans to implement

Explain the use of feedback for personal growth (PQ)

1. Feedback: response to a message or activity; you a. Enhance personal growth and development: often you can't realize flaws yourself without a particular point of view, know what you work on, humility, develops self-awareness 2. Receiving feedback: listen, show grace, seek clarity, quantify (evidence), be grateful a. Aware of strength and weaknesses i. Review and see how far you've come 3. Put into scenario

Discuss considerations in selecting a financial-services provider (CS)

1. Financial-services provider: provides economic services a. Many people don't have time or specific knowledge to make all financial decisions on their own i. Need one to protect and maximize wealth effectively ii. Understand goals and needs: match to your purpose 1. Examples 2. Interest, FDIC insured, location, reputable, size, online services, other fees 2. Walk through one scenario with the scenario and the considerations (discuss)

Explain the nature of global trade (SP)

1. Global trade: exchange of capital, goods, and services across international borders a. Imports and exports 2. Opportunities: specialization by countries, lower cost of consumers a. Maximize production and efficiency; greater potential for profit and growth with more resources to satisfy consumers' wants and needs b. Exposure: even out income stream c. Competition: affect domestic companies i. Comparative advantage ii. Absolute advantage 3. Barriers: policy, tariffs, cultural, economy and protectionism a. International conflict and war b. Consideration 4. Examples in scenario

Use an integrated business software application package (CS)

1. Integrated software: suite of several applications that share common database and user interface a. Word processing, spreadsheet, presentation like Adobe InDesign, Microsoft Office b. Output imported into another i. Transfer like Spreadsheet to Presentation c. Application package: address business needs (illustration and Access, Publisher) 2. Demonstrate

Make decisions (CS)

1. Part of life, way to accept change, move forward, not waste time, open up to new opportunities a. Link to scenario b. Subconscious and quick i. Recognize influences: bias, emotions, experiences c. Reason i. Be honest, weigh options, long-term, go with your gut d. Forgive yourself if it isn't "right" i. May lead to a whole new world of opportunities 2. Make a decision a. "Decision you are making __"

Develop project plan (SP)

1. Project plan: formal document designed to guide the control and execution of a project 2. Why: problem or value proposition 3. What: work performed, scope 4. Who: target audience, involved/human resources, what their responsibilities will be, create plan together 5. When: project timeline a. Schedule; task, goal, duration, start, finish, timeline 6. Stay on track, measure progress, and serves as a course of action 7. Examples in scenario

Balance personal and professional responsibilities (SP)

1. Responsibility: the state of having a duty to deal with 2. Distinguish a. Reduce stress, manage time wisely, make the most out of your time b. Set boundaries and prioritize by keeping responsibilities in perspective 3. Sleep, inventory, initiative, technology, listen to your own body 4. Tools: spreadsheet, document, to-do list 5. Examples in scenario: how I balance responsibilities and my plan (reduce stress, work, etc.)

Discuss principles of computer systems (PQ)

1. Computer system: complete computer including CPU, memory, all related electronics, peripheral devices, and operating system a. Laptop, desktop, tablet, smartphones b. Server: share data and application with multiple users i. Platform, number of CPU Cores, clock speed (GHz), disk and memory, fault tolerance, multiuser and multiprocessing capabilities 2. Examples

Develop personal budget (CS)

1. Personal budget: plan that allocates income or assets towards expenses and savings a. Assists with financial planning b. Actually develop one c. Consider past spending habits and debts i. Spreadsheet, budget sheet, database ii. Identify needs, know what you have, know what you need, make plan, track it, follow up iii. Good personal budget 1. Purpose, simple, flexible iv. Develop my personal budget

Maintain data security (CS)

1. Protecting data from unauthorized interference including use, access, disruption, or modification 2. Importance (in age of tech depen): CIA, social responsibility 3. Standardize for efficiency 4. Protocol 5. Audit 6. Hiring a. Bar graph for sources of attacks 7. Back-up 8. Physical security (file cabinets) 9. Minimize data exposure 10. Encryption 11. Real Time Monitoring 12. Remove securely 13. Training 14. Connect and stats

Maintain a safe work environment (CS)

1. Accomplished by following routine procedures and safety precautions 2. Give examples of safe work environments a. Employer and employee b. Avoid lawsuits and loss c. Culture and reputation 3. Connect to world and to us a. Stats?

Take responsibility for decisions and actions (PQ)

1. Accountable and willing to follow through a. Realize responsibility b. Don't make excuses c. Positive way d. Learning experience 2. Give lots of examples a. Companies not taking responsibility (Nestle)

Explain the concept of accounting (CS)

1. Accounting: language of a business, system that summarizes, analyzes, and reports transactions a. Done by bookkeeper, accountant, or accounting firm b. Maintain competitive advantage, maintain satisfaction, identify trends, track business performance c. Accrual accounting: when they occur and not when cash received or paid i. GAAP (Generally Accepted Accounting Principles) 1. Regulates financial accounting: accounting that deals with past and for external audiences: relevant, reliable, comparable a. Consistency: same method b. Going concern: business entity will continue to be in business c. Economic entity: separate from owner d. Monetary unit: in money e. Accounting period: time bounded, fiscal quarters f. Full disclosure: relevant g. Prudence: revenue and profits only when realized but liabilities if possible 2. Managerial accounting: for internal audiences, supporting decision-making d. Accounting equation: total assets equal total liabilities plus owners' liability 2. Give examples

Explain the use of technology in accounting (SP)

1. Accounting: systematic and comprehensive recording of financial transactions pertaining to a business 2. In the digital age, the application and integration of information technology in accounting has changed the way accounting works 3. Basic technical skills and conceptual knowledge of accounting information systems are important 4. Accounting software: streamline processes a. Like Visicalc and quickbooks b. Web-based, secure hosting, share information among accountants and clients faster c. Automate d. Eliminate need for calculators, paper ledgers, pencils e. Lower margin for error 5. Internet: share, research, file taxes online 6. Security: passwords, encryption a. Tracking and back-ups 7. Education: online accounting classes and certifications 8. Examples in scenario

Explain legal considerations for accounting (SP)

1. Accounting: systematic and comprehensive recording of financial transactions pertaining to a business 2. Special position of trust: must have laws in place in order to ensure the consistency and fairness of financial reports 3. Be in compliance a. GAAP or IFRS i. Consistency b. Full disclosure i. Pressure from management, omission, greed c. Significant change to corporate governance and accounting: Sarbanes-Oxley Act of 2002 to prevent accounting fraud i. Accurate representation of financial positions in response to Enron, Tyco, Worldcom ii. Report changes in ownership, prohibits most loans to directors and executive officers, accounting records to be approved iii. Maintains investor confidence and transparency 4. Examples in scenario

Develop an achievement orientation (CS)

1. Achievement orientation: drive and passion to accomplish goals, do your best, be successful a. Results-driven 2. Take initiative, responsibility, leader, resilient, high standards, learning process, emotional intelligence, motivate others, seek feedback 3. Helps you achieve goals and fulfill vision in a highly competitive and fast-paced business environment 4. Examples

Describe marketing functions and related activities (CS)

1. Activity that helps a company to source and promote products 2. 7 Marketing Functions a. Channel Management: get goods to customers b. Financing: budgeting, obtaining funds c. Marketing Information Management: gather and analyze information, identify trends d. Pricing: high/low e. Product management: existing products and developing new ones i. Barbie: marketing information to promotion through youtube videos f. Promotion: inform, persuade g. Selling: interactive, directly with potential customers 3. Tie into scenario along the way

Demonstrate adaptability (CS)

1. Adaptability: be able to change to fit different situations a. Urban society changes faster due to technological innovations and becomes more diverse; imp to be open to new ideas and adapt b. Look at everything as a learning experience i. Stay positive and get the most value out of each situation ii. Fear 1. Identify the cause and root, get rid of it iii. Contentment 1. Positives: how can your life be even better iv. Distrust 1. Don't think it'll work, Identify positives c. Prepare back-up, accepting, look at the benefits and be positive, be calm and confident 2. Give examples

Explain possible advancement patterns for jobs (PQ)

1. Advancement pattern: move from lower position to a higher one in the job hierarchy a. Entry: no experience, limited decision making b. Career-sustaining: next level, more skill and experience c. Specialist: leadership and decision making d. Supervisory: good management skills and responsibility e. Top management: highest, run entire company i. Large number of areas, responsible for strategic planning and vision 2. Example for this scenario a. Teller to head bank teller to loan officer to manager 3. Ways to advance a. Education and experience lead to promotion i. Networking and being hardworking is very important in maintaining a positive impression

Use appropriate assertiveness (PQ)

1. Assertiveness: quality of being self-assured and confident without being aggressive a. Mode of communication b. Get voice heard and stand up for yourself while still respecting others i. Be confident and exercise self-control ii. Polite and direct iii. Know what you want and be honest 1. Use evidence iv. Not aggressive nor passive 1. Don't dominate 2. Give examples

Assess information needs (CS)

1. Assess information needs for scenario along the way a. Information literacy skills important for obtaining, analyzing, using, and storing information i. New opportunities: information to make decisions ii. Assess what information helpful in order to utilize efficiently and effectively 2. Who users are, what their needs are, what information used for, what available, what it can be obtained, how to disseminate it

Explain the nature of balance sheets (SP)

1. Balance sheet: statement that summarizes a company's assets, liabilities, and stockholder's equity of a business at a point in time 2. Assets: cash, securities, accounts receivable, inventory; fixed assets 3. Liabilities: current w/ payables, taxes, wages and payroll 4. Fixed liabilities: mortgages and loan 5. Equity: capital stock, dividends paid, retained earnings 6. Allow investors and managers to see what the business owns, what it owes, and how much was invested by shareholders a. Solvency, retained capital, how assets are converted to capital, financial state of a company 7. Key financial statement 8. Examples in scenario (make balance sheet)

Read and reconcile bank statements (PQ)

1. Bank statement: record of balance in bank account and all inflows and outflows a. Personal info, account information, statement summary, account summary, transaction summary, fees i. Clarify and serve as proof; track and understand your financial status b. Bank can make mistakes: look over bank statements and check each transaction against your check register 2. Reconciliation: process of checking financial statements against another to ensure consistency and accuracy a. Check register, receipts, records to check your bank statement b. Balances may differ: checks not cleared or after bank statement c. Match each deposits to those on bank statement d. Diff: your error or bank error? e. Check off check in check register f. Other debits and credits g. Total amount same? h. File everything away neatly 3. Examples

Discuss the impact of bribery and foreign monetary payments on business (SP)

1. Bribery: money or favor given or promised in order to influence someone's public or legal duties a. Unethical action 2. Drop in employee morale, destroy public relations and reputation, prevents from reaching full potential by denying those most qualified from achieving positions, inefficiency, lost resources, weakened development a. Lead to public dissent and loss of profit i. Not just instant, long term loss that will be hard to recover from b. This corruption can destroy a company 3. Why still do it? Facilitates corporate entry and in a highly competitive environment, some feel like necessary --- understand reasons a. Start from root by fostering a quality culture i. Invest in control systems and instill ethical values ii. Punish and lead by example

Describe the nature of budgets (SP)

1. Budget: a financial plan for income and expenditure for a set period of time a. Includes savings, borrowing, and spending b. Keep your finances in track, achieve financial goals, provide a clear picture of your financial situation 2. Track spending, identify priorities and goals, allocate income 3. Business: provide forecast of revenue and expenses a. Operating budget b. Sales budget: products, returns, discounts c. Production budget: based on sales budget d. Marketing budget e. Project budget 4. Examples in scenario (identify budgets and create them)

Describe the nature of business records (SP)

1. Business record: documents that documents business dealings and transaction a. Meeting minutes, memos, contracts b. Should be retrievable at a later date so dealings can be accurately reviewed 2. Retention periods/legal requirements 3. Full disclosure 4. Monitor progress: accurate and complete a. Maximize usefulness b. Used in accounting and tax 5. Keep track of your financial position a. Record and bookkeeping activities b. Whether you are making profit, breaking even, loss c. Electronic with back-ups and encryption for higher degree of stability and security 6. Examples in scenario

Describe current business trends (SP)

1. Business trend: general direction in the way business is developing 2. Technology a. Web presence b. E-commerce and E-business c. Online lending d. Social media e. Connecting with remote employees 3. New markets, products a. Commodity product margins decrease, services extend value b. Corporate cultures of customer service c. Embracing millennial generation 4. EMV payment security, consumer education a. Directly with manufacturer and supplier 5. Globalization 6. Examples in scenario (trends in scenario)

Explain factors that influence customer/client/business buying behavior (SP)

1. Buying behavior: decision-making pattern influenced by needs and desires and ending in the purchase of goods and services a. Through their buying behavior, customer decide what they will buy, where they will buy it, and from whom they will buy it 2. Imp to understand buying behavior in order to predict how customers respond to business strategies a. Thus, we have to understand the factors involved in determining buying behavior 3. Cultural a. Norms 4. Social a. Reference and membership groups b. Family: childhood and upbringing c. Social role and status: expensive car can be interpreted as sign of status 5. Personal a. Age and way of life b. Purchasing power and income c. Lifestyle d. Personality and needs e. Psychological i. Motivation, perception, learning, beliefs and attitudes 6. Also include economic (affect purchasing power and prices) or political 7. Examples in scenario and what buying behavior the scenario causes

Identify skills needed to enhance career progression (SP)

1. Career progression: the process of acquiring better jobs a. Have an interest and be motivated b. Cognitive: creative and critical thinking, problem solve, make decisions, analyze c. Behavioral: emotional intelligence i. Adapt to change, initiative, persevere, work ethic, flexible, self-confidence and self-esteem ii. Criticism, process experiences d. Technical: communication skills, research skills, plan, coordinate, lead, public speaking i. Specific to industry: math, programming, etc. 2. Examples in scenario: skills tie-in and technical skills in scenario

Identify tentative occupational interest (CS)

1. Career you are considering, not set on pursuing a. Lead you to find the right job: happy, efficient, suitable b. Interest inventory: skill assessment tests c. Extracurricular interests d. Family or friends, think about who you look up to i. Feedback and experiences e. Counselor 2. Try out before selecting, job shadowing 3. Examples

Describe the nature of cash flow statements (SP)

1. Cash flow statement: financial statement that shows sources and uses of cash for an accounting period a. Includes and analyzes the money coming into and going out of a business 2. Prepared quarterly and disclosed to SEC and public if publicly traded 3. Operating Activities: revenue-generating activities of entity, includes cash inflows and outflows a. Net income, depreciation, facility, receivables and payables, inventories 4. Investing Activities: acquisition and sale of fixed assets 5. Financing Activities: changes in size and composition of owner's capital or changes in debt a. Issuing stock and debt 6. Financial situation: predict future flows, evaluate management decisions, affects ability to pay debts and dividends 7. Examples in scenario (make cash flow statement)

Follow chain of command (CS)

1. Chain of command: official hierarchy of authority that dictates who is in charge of whom and of whom permission must be asked a. Establish order, responsibility and authority, efficiency, employee morale 2. Company: employee to assistant managers to managers to vice president to president or CEO a. Report, separate responsibilities 3. Examples

Adjust to change (PQ)

1. Change is inevitable—whether we like it or not a. However, it all depends on how we react and what we take away b. Fast-paced and changing business environment: ability to adapt important skill i. Acknowledge the change: is it really a bad thing? ii. Acknowledge your fears: main reason (survey done by the Stanford Department of Psychology) know what's holding you back and what you can work on 1. Helps you find the root so you can adjust to change effectively and efficiently a. Get rid of your fears, prevents them from resurfacing 2. Other reasons: contentment a. Happy with what you already have b. Think of benefits c. Distrustful: not believe i. Its ok to not believe, doesn't mean you don't have to adjust ii. Relax and again, consider the positives 3. Be patient, communicate, stay positive iii. Find ways to integrate and adjust to change bit by bit 1. Don't lose your drive 2. Specific examples

Coach others (CS)

1. Coaching: different from teaching, process to improve performance and focuses more on present and development a. Unlock someone's potential b. Effective, broaden thinking, strengths and development 2. Build relationships and trust: patience, follow through so people can open up 3. Provide assessment: needs, self-awareness a. What needs to be worked on i. Focus your efforts 4. Challenge thinking 5. Support and encourage a. Communication b. Passion c. Compassion 6. Drive results 7. Examples

Maintain collaborative partnerships with colleagues (SP)

1. Collaborative partnership: agreements and actions made by partners to share resources to accomplish a mutual goal a. Key in any organization b. Promote synergy, maximize efficiency, create a harmonious working environment 2. Every person has their own skill set and your colleague may be able to do something you struggle at a. Fit like a puzzle piece to achieve success as a team 3. Trust, supportive, motivate a. Get to know each other: common ground outside work brings people closer b. Work together in a joint intellectual endeavor that pools common interests, assets, and professional skills in order to promote broader goals and outcomes for the entire group's benefit c. Willingness to work d. Respect and recognition of abilities e. Know strengths and weaknesses as well as how to utilize them 4. Examples in scenario

Manage commitments in a timely manner (CS)

1. Commitments: dedications to cause or activity a. Often, many, efficient management so to manage stress and prevent burn out 2. Employ time management skills a. Identify i. What commitments do I have? b. Prioritize i. Importance, order, consider consequences and how difficult it is c. Schedule i. Allot time d. Commit i. Follow through and implement plan 3. Give examples, create schedule and manage events in scenario

Explain the nature of effective communications (PQ)

1. Communication: speaker transmits message to others 2. Effective communication: listener clearly understands the message a. Key interpersonal skill: builds and maintains relationships, facilitates innovation (employees feel comfortable), fosters open, honest dialogue, influence others i. Part of success for every organization 3. Serve purpose, clear and direct verbiage, right channel, appropriate time, right receiver: audience, empathy a. Ways to make communication effective verbal and written i. Adapt to your audience: Who, What, When , Why, When

Maintain the confidentiality of others (CS)

1. Confidentiality: ethical duty, privacy of data a. Don't share information with people who don't need it b. Keep written information in safe place: channel of information, shredding i. Encrypt data and use firewalls ii. File cabinets iii. Don't gossip and don't encourage gossip iv. Non-disclosure v. Principle of Least Authority 2. Build and develop trust, privacy, respect 3. Examples

Use conflict-resolution skills (CS)

1. Conflict-resolution skills imp: relieves stress, recognize and manage emotions, improve nonverbal skills, deal with challenges a. Recognize the response modes: withdrawal, yielding, negotiating, forcing i. Adapt your solution to each response mode 1. Withdrawal: talk to them gently, get them to open up 2. Yielding: may be afraid, listen and alleviate their fears, waste precious ideas and opportunities a. When situation is insignificant 3. Negotiating: best, what you want to have 4. Forcing: you never want to have ii. Identify the problem: ask both sides - find variances and differences in opinion that may cause it iii. Ask for solutions iv. Evaluate solution with both parties v. May have to compromise: best if allow each side of dispute to save face and create least amount of ill will 1. Mediation or arbitration from third party 2. Give lots of examples

Maintain inventory of supplies (CS)

1. Connection: inside purchasing 2. Catalog of tangible goods and intangible attributes to support production, activities, or customer service a. Largest in current assets; accounting for profit/loss b. Types of software: inventory log, spreadsheet, word i. Create system, routine, get everyone on board 3. Important: not burden, find profit or loss, account for everything a. Ex. Customer orders something and its gone "How would you like it?" Would you come back?

Use consensus-building skills (SP)

1. Consensus: general agreement shared by all members of a group a. Important in decision making; especially in today's interconnected society when decisions affect many people i. We want the outcome to be satisfactory to everyone ii. As such, may take a long process, but the product is rewarding 2. Problem identification a. Gather relevant information to present idea effectively b. Convene c. Cooperative, inclusion, open-minded d. Hear everyone's opinion e. Discuss and hear opinions again until consensus is reached f. Approval g. Implementation 3. Examples in scenario

Demonstrate appropriate creativity (SP)

1. Creativity: use of the imagination to formulate new ideas a. All about discovery, invention, and creation, combining knowledge, curiosity, and imagination 2. Workplace: appropriate a. Problem solving, build on past ideas, context and reality 3. Drive innovation and bring competitive edge and advantage 4. Examples in scenario: demonstrate creativity through new plan or idea

Validate credit history (CS)

1. Credit history: record of your responsible repayment of debts a. Maintained from one of three bureaus: Experian, Trans Union, Equifax i. Credit and FICO score: creditworthy you are; higher score, better interest rates and higher credit limit b. Validate to make sure information accurate, rating fair, no wrong debts i. Reconcile with check register, receipts, and past reports ii. Personal information, payment history, credit utilization, length of credit history, types of credit used, recent searches for credit 2. Create a sample statement

Demonstrate the wise use of credit (CS)

1. Credit: arrangement to receive goods or service before payment with trust that payment will be made in the future a. Use credit to buy: b. Give scenario and walkthrough i. Ask yourself if you can afford it: savings or credit? Purchase later? 1. Benefits outweigh fees and interest charges ii. Business: overextending credit problems with lost revenue 1. Make sure your customer is creditworthy with credit score or report 2. Safer and more convenient, flexible a. Good credit history, reliable to other lenders

Explain the purposes and importance of credit (CS)

1. Credit: arrangement where a customer obtain goods or services before payment with a promise to pay in the future a. Commonly utilized in a credit card; also be in name b. Credit report and credit score: reputation and factor into mortgages and loans i. Revolving, installment, open, budget, secured (loans by asset), unsecured 1. Revolving: credit that is automatically renewed as debts are paid off 2. Installment: credit with fixed number of payments until total debt paid off 3. Open: set amount of credit within a set amount of time 4. Budget: 30 days same as cash 5. Secured (asset-collateral) and unsecured 2. Simplifies processes for greater efficiency a. Less time, more transactions b. Protects consumers: debit harder to get lost money back 3. Give examples

Exhibit cultural sensitivity (CS)

1. Cultural sensitivity: being aware that cultural differences and similarities exist and have an effect on values, learning, and behavior a. Prerequisite to cultivating cross-cultural skills: often employ foreign workers and work with foreign parties with global operations and new markets; ignorance can offend, alienate employees and reduce sales b. Understanding through study of history, value system i. Specific factors 1. Customs 2. Language barriers 3. Conservatism 4. Ideologies ii. Put aside superiority iii. Develop awareness: identify biases and prejudices and do away with them iv. Accept differences v. Be a good listener, use tact, be yourself 1. Use empathy vi. Find commonalities: bring us together 2. Provide specific examples

Explain cultural considerations that impact global business relations (SP)

1. Culture: beliefs, customs, and traditions of a particular society, group, place, or time 2. Globalization: not only cross borders but also cross cultures a. Adapt strategies and business activities in order to prosper in new environments 3. Knowledge of holidays, marketing a. Customs and dress b. Sensitivity, communication, negotiating attitude, high-context or low-context, formality, emotionalism, team organization, risk taking c. Politics and history d. Leverage the power of culture (target products) 4. Examples in scenario

Maintain customer records (SP)

1. Customer record: basic unit of information about a customer a. Who buying, how much purchasing, and contact information b. Foster sales and marketing performance c. Keep you customer-focused 2. CRM: Customer Relationship Management Software a. Maintain complete data: set important fields as mandatory, never know which piece of information is necessary b. Keep it simple: avoid clutter c. Standardized formats d. Include dates e. Avoid duplicates: merge i. Data cleansing f. Security: add or modify, track users 3. Examples in scenario: maintain customer records

Explain the principles of data analysis (SP)

1. Data analysis: process of evaluating data using analytical and logical reasoning to examine each component of the data provided and to generate information 2. Know your approach, know how the data was generated, be skeptical, clarify assumptions, in context and relevance 3. Into format you can use a. Find patterns and intuition with conclusions and predictions b. Visualization: scatter diagram, check sheet, data mining c. Modeling and algorithms 4. Descriptive: describing main features of data quantitatively 5. Exploratory: previously unknown relationships 6. Predictive: predictions or forecasts 7. Data requirements, data collection, data processing, data cleaning, data product, communication 8. Examples in scenario

Demonstrate basic data mining techniques (SP)

1. Data mining: examining large databases in order to generate new information 2. Association, classification, clustering, prediction, sequential patterns a. Decision trees, linear regression, nearest neighbor, algorithms b. Language of Python, R, SQL c. Acquire data d. Compare with patterns and trends e. Context 3. Decision tree sample

Describe data mining tools and techniques (SP)

1. Data mining: examining large databases in order to generate new information 2. Comprises of five major elements: a. Data warehousing: extract, transform, load transactional data b. Store and manage in multidimensional database system c. Provide data access to analysts and professionals d. Analyze with application software e. Present in useful format 3. Tools a. Decision trees: root question with multiple answers, set of conditions to determine data and make final decision b. Linear regression: prediction c. Nearest neighbor: prediction based on similar records d. Artificial neural networks, genetic algorithms, rule induction, visualization through graphs 4. Techniques a. Association: pattern based on relationship between items in same transaction i. Basket analysis to identify products customers buy together b. Classification: into set of predefined classes or groups c. Clustering: similar characteristics d. Prediction: relationship between independent variables and dependent and independent e. Sequential patterns: trends in transaction data over a business period 5. Examples in scenario with which tools to use and demonstration

Interpret data mining findings (SP)

1. Data mining: examining large databases in order to generation new information 2. Context: clarify assumptions 3. Quantitative and qualitative: mean, standard deviation, mode, median a. Patterns and trends 4. Visualize 5. Perspectives, think beyond 6. Don't disregard outliers: useful insights 7. Examples in scenario "For examples, __ means that ___. We must respond ____"

Discuss the nature of data mining (CS)

1. Data mining: practice of examining databases in order to generate new information a. Analyze data from different perspectives b. Software 2. Starts with client, CRM data, competitive data, industry survey, etc. a. Find patterns and trends to support forecasting, decision marking, and market planning 3. Five elements a. Input into data warehouse b. Store and manage in database c. Provide access d. Analyze through application e. Present in useful format 4. Patterns: classes, clusters, associations, sequential patterns a. Artificial neural networks: review records to identify errors b. Decision trees: classify and build models c. Nearest neighbor method: build models based on similar data d. Rule induction: "if-then" and rules to model data 5. Examples

Demonstrate basic database applications (PQ)

1. Database: structured set of data held in a computer a. Collect, manage, and analyze data b. Database like Microsoft Access: efficiently multitask with queries to find data and macros to modify i. Create table ii. SQL (language) select iii. Data Definition Language DDL iv. INSERT, UPDATE, DELETE c. Queries: request for data i. Wildcard: related ii. Select iii. Parameter (updated easily to find new search term) iv. Cross-tab v. Action (update, delete) vi. Comparative 2. Integrate into example

Access information in the database system (SP)

1. Database: structured set of data held in a computer, especially one that is accessible in various ways 2. Tables (store), forms (view/enter data), reports (display/print), macros and modules 3. Query: request for data or information (retrieve) 4. Examples in scenario (find information using tools)

Explain the nature of tools that can be used to access information in the database system (SP)

1. Database: structured set of data held in a computer, especially one that is accessible in various ways a. Very large, employ tools to find the information that we need 2. Query: request for data or information a. SQL language b. Pictorials, graphs, complex results c. Select, wildcard, action, parameter 3. Tables: store data 4. Forms: enter data 5. Reports: answers specific questions 6. Macros and modules 7. Examples in scenario (which tools to find what and some queries to use)

Demonstrate responsible behavior (PQ)

1. Demonstrating responsibility means being willing to accept an obligation and being accountable a. Important: responsibility helps a business function as it allows people to trust each other i. In today's integrated workplace, many jobs are dependent on each other; if one job isn't done on time and correctly, other jobs will be impacted b. Cooperation c. Initiative d. Honest e. Following directions f. Patient and punctual g. Dependable h. Loyal i. Accountable 2. Specific situations

Interpret a pay stub (PQ)

1. Draw pay stub 2. Pay stub: breakdown of gross amount of money, net amount you received, deductions a. Arrives with paycheck b. Check if you are paid correctly i. Name, Social Security, Pay Period, Date, Employer, Hours worked, Wages/salary, Gross pay, Deducted taxes, Insurance premiums, Retirement plan contribution, Union dues, Meals, Net pay after deductions 3. Interpret the pay stub along the way

Demonstrate basic e-mail functions (PQ)

1. E-mail: messages distributed electronically from one internet user to one or more recipients via a network a. Reduces use of paper, reach more people: efficient, effective, simple b. Crucial in workplace: everyday correspondence 2. Business e-mails should be different a. Draw examples b. Professional with clear focus c. Create email, send email, forward email, reply email, sort, and organize d. Use subject line effectively use spell check, bold, italicize, and highlighting

Explain the impact of a country's economic development on world trade (SP)

1. Economic development: improvement of standard of living through the creation of jobs, the support of innovation, and the creation of higher wealth, which all lead to an overall better quality of life a. Efforts that seek to improve the economic well-being for a community 2. Ability to become a global player 3. Access to markets, more capital and ability to export a. Creates more opportunities and more customers 4. Improvements in infrastructure, ability to not only conduct trade, but also sustain that trade, boost private-sector and increase efficiency a. Liberalization of trade policies, reduction of tariffs 5. Economic development promote globalization promotes even more economic development 6. Examples in scenario

Obtain needed information efficiently (CS)

1. Efficiency important in high-paced and competitive business environment 2. Knowing sources of where and how is first step to getting it efficiently a. Location, ask right questions to right people to expedite the process b. Use technology and human resources i. Internet ii. Phone call iii. Emails 3. Lot of examples and integration

Describe the impact of electronic communication tools (e.g., Internet, video- and computer-conferencing, webcasts, email) on global business activities (SP)

1. Electronic communication: transfer of ideas and information digitally a. In today's world, innovations in information technology have become a driving force behind globalization and a key component of global business strategy i. Tools: Internet lead to an increase in knowledge 1. While emails facilitate communication, speed up the pace of business, and increase frequency of collaboration ii. Video and computer-conferencing, webcasts: more intimate interactions from different locations 1. Skills and knowledge from around globe and consolidate them to innovate 2. Electronic communication tools a. Open up new markets b. Lower costs and increase efficiency by providing opportunities to outsource and offshore easier i. Connect with vendors across the globe c. More competition: global players enter the domestic field d. Empowers the consumer: easier to comparison shop and more alternatives 3. Improves communication and streamlines processes 4. Examples in scenario

Describe the nature of emotional intelligence (PQ)

1. Emotional intelligence: ability to process emotional information, and recognize the meaning of emotions and their relationships a. Includes: identification, perception, expression, facilitation, understanding, and management of emotion b. Higher emotional intelligence experience better teamwork, more adaptable and flexible i. This power of collaboration brings more value and is the foundation for a successful and integrated environment 2. Broad: four elements a. Self-awareness: identifying b. Self-regulation: expressing and managing c. Empathy: perception and understanding d. Social skills: applying and facilitating 3. Physical health and mental well-being, relationships, and conflict resolution as you develop a deeper understanding of motives 4. Give some examples

Show empathy for others (PQ)

1. Empathy: ability to understand and share the feelings of another person a. Communicate better, treat people better, develop better relations, more perceptive, be able to motivate others, and become a better leader b. First, put aside your viewpoint and try to see things from their perspective i. Acknowledge their perspective ii. Examine attitude and don't judge 1. Find reasons: those reasons are relatable and clarify their actions or feelings iii. Use active listening: words, tone, body language, sense, feelings 1. Ask them questions iv. Offer your support v. Customers and coworkers 1. Customer: glad to see someone who understands their needs and does their best to meet them 2. Coworkers: harmonious relationships and positive corporate culture 2. Specific examples

Explain employment opportunities in business (CS)

1. Employment opportunity: when you can get a job a. Wide scope: business is one of the broadest career field i. Example "In our __, opportunities may include" 2. Opportunities a. Finance to marketing to entrepreneurship itself b. Small business or corporation or non-profit i. Franchise and start own business 1. Opportunities for me who likes __ 2. That's why I wanted to be a __ 3. Find these opportunities a. Networking, job postings, career centers, employment centers, looking online

Explain the role requirements of entrepreneurs and owners (SP)

1. Entrepreneur: person who starts and operates a business a. Spark plug in the economy's engine b. Take the initiative and step out i. Optimistic and future oriented, sell against competition ii. Creative and hardworking iii. Planning, selling, and executing iv. Risk-taking and innovative 2. Owner: person who organizes and operates a business a. Although an owner doesn't have to be an entrepreneur, an entrepreneur is an owner b. Evolve c. Leader: provide vision and direction 3. Scientist: analyze, develop, and refine process 4. Human resources, business planner, office manager, marketing expert, bookkeeper and accountant 5. Many roles to fulfill in order to be successful 6. Examples in scenario

Describe the nature of entrepreneurship (SP)

1. Entrepreneurship: capacity and ability to develop, organize, and manage a business venture along with any of its risks 2. Starts with an interest and a vision a. Often, it also begins with a question to solve b. Skill: cognitive, behavioral, technical c. Investment personally and from others d. Organization and delegation i. Managerial skill and leadership ii. Organization building e. Risk and rewards 3. Important to economy: a. Create wealth, jobs, add to national income b. Create social change c. Widen market and lead innovation d. Community development, economic growth e. Strengthen small businesses 4. Examples in scenario

Conduct an environmental scan to obtain business information (SP)

1. Environmental scan: process that systematically surveys and interprets information to identify external opportunities and threats a. Invaluable to planning future course of action: develop effective response that secure or improve position in future b. Assist in important business practices including marketing, risk management, and strategic planning 2. Gather information a. Customer: habits, needs b. Competitor: motives, strengths, weaknesses, behavior, potential c. Economic: markets, capital, resources, cost, national economy, international trade d. Technological: capability to create value e. Social: patterns, values, beliefs, trends f. Political and legal g. Geophysical: natural resources and susceptibility h. SWOT analysis i. Focus groups, interviews, surveys, online data mining 3. Conduct environmental scan and give examples

Demonstrate ethical work habits (PQ)

1. Ethic: belief about what is important to that individual a. These values interrelated to work behaviors i. Examples of each b. Ethical work habits: maintaining a positive reputation, developing relationships, and conducting business i. Better performance, better satisfaction, career progression c. Reliable: punctual, positive, initiative, altruistic: keep the good of the customer and company in mind, accountable integrity, quality over quantity, commitment 2. Demonstrate them, put in scenario

Discuss the role of ethics in accounting (SP)

1. Ethics: moral principles that govern a person's or group's behavior 2. Especially important in accounting, where accountants are in a special position of trust and work with customer's money 3. Maintain confidentiality a. Honest, integrity, fair b. Objective, due care, put public interest before one's own c. Falsification of reports: Enron, leads investor to make poor choices and severely damages reputation d. Follow GAAP 4. Ensures accountability, facilitate planning, taxes, create positive image for the business 5. Examples in scenario

Describe the determinants of exchange rates and their effects on the domestic economy (SP)

1. Exchange rate: value of one currency in terms of another a. Established on foreign exchange market; supply and demand i. Imports and exports: more import, convert more US dollars to other, demand increase, exchange rate increase b. Inflation: lower rate leads to appreciation in value of currency c. Interest: high rate to lenders, more attractive to foreign capital d. Government debt, terms of trade, political stability and economy e. Speculation 2. Domestic: competition a. Trade barriers like tariffs b. International trade i. Exporting firms: appreciation of own more expensive/less demand 3. Examples in scenario

Solicit feedback (SP)

1. Feedback: response to a message or an activity a. Used as a basis for improvement and provides a different perspective 2. Solicit not just feedback, but constructive and useful feedback 3. Person: ask questions and highlight what answers you want, specific people with different perspectives, ask for specific examples 4. Business a. Customers: monitor review sites, social media, suggestion box, feedback form, invoices with comments, customer interviews i. Conducting marketing research through polls and focus groups b. Managers: request feedback, performance reviews, encourage communication c. Staff: suggestive box and survey to preserve anonymity and ensure honesty 5. After soliciting feedback, want to compile, analyze, and apply feedback a. Identify common areas of concern and work on a way to improve and change b. More competitive and provide the best goods and services 6. Examples in scenario

Evaluate project results (SP)

1. Final step, key part of closing the project 2. Understand what you are trying to achieve and be accountable and honest 3. Develop evaluation plan: did you achieve your goal? Time? Efficient use of resources? 4. Select participant/audience 5. Collect data 6. Analyze and interpret data 7. Report and use findings: presentation, report 8. Negatives and learn from them, positive and building blocks for future projects 9. Examples in scenario

Discuss the role of ethics in finance (SP)

1. Finance: management of money and assets 2. Ethics: moral principles that guide behavior a. Extremely important in an industry like finance where a large amount of trust and money are involved i. 2008 financial crisis, Enron 3. Serve as boundaries preventing professional and personal interests from conflicting a. Avoid conflict of interest and asses from a professional standpoint 4. Aware of insider trading (not reaching conclusions using inside information) 5. Whistleblowing 6. Balancing stakeholder interest (employees) - corporate social responsibility and shareholder interest 7. Embezzlement 8. Instill ethical values during training, punish, set an example, and follow all principles of corporate finance by acting with integrity 9. Examples in scenario

Explain legal considerations for finance (SP)

1. Finance: management of money and assets a. In this industry, legal considerations become extremely important as a large amount of trust and money are involved b. Ensure fair competition and to protect the financial interests of companies and individual investors 2. Antitrust law: fix prices, rig bids, anti-comp 3. Bankruptcy law 4. Securities law a. SEC and Sarbanes-Oxley b. Full disclosure and insider trading 5. Compliance and whistleblowing 6. Examples in scenario

Explain the role of finance in business (CS)

1. Finance: management, creation and study of money and other economic activities a. Facilitates financial transactions, sector crucial for any company i. Budgeting and forecasting, bookkeeping, reporting, payables and receivables, accounting, investing, obtaining capital, debt management ii. Supports decision-making and daily activities b. In order for business to function accurately and efficiently 2. Many examples of finance in scenario

Explain legal responsibilities associated with financial exchange (CS)

1. Financial exchange: transfer of goods or services for money a. Legal responsibilities to protect against financial theft as well as associated identity theft i. Securities Act 1933: investors receive financial information ii. Securities Exchange Act 1934: SEC iii. Investment Company Act 1940: disclose condition and policies for stocks iv. Sarbanes-Oxley Act 2002: Enron, fraud in accounting v. Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 2. Give examples for situations involving legal responsiblities

Set financial goals (CS)

1. Financial goal: objective based on money or financial needs a. Achieve financial independence b. Identify your needs and wants c. Identify what you have d. Identify what you need to fulfill those needs e. Prioritize to manage your time with timeframe f. Review plan i. Use SMART (Specific, Measurable, Attainable, Realistic, Time-bounded) as check 1. Actually make plan

Describe the need for financial information (CS)

1. Financial information: data related to the monetary aspect of business a. Internal and external users: many rely on accurate financial information to make decisions i. Affects flow of capital and facilitates exchange as services are bought and sold based on information about costs, returns, and risks ii. Reflect value of investments, productivity, sales, help in forecasting iii. Organize: reduce expenses and manage budget as well as control and manage risk b. Manage (manage), marketing (trends), shareholders (risk and return), investors (viability), financial institutions (loan or credit), customers (resources or not), employees (company profitability), competitors (performance with rivals), government (tax and audits) 2. How the scenario needs it

Explain the nature of financial needs (e. g. college, retirement, wills, insurance, etc.) (CS)

1. Financial need: needs something and they are unable to purchase it a. Distinguish needs from wants b. Need: important as its essential and important i. Food and water to live ii. College, retirement, wills, insurance 2. Ways to satisfy need: needs vary (assistance), different courses of action, businesses for capital a. Employment or loans 3. Examples and find needs for scenario and yourself a. How can we, how would I fulfill my business's needs

Maintain financial records (PQ)

1. Financial records: formal record of financial activities of an entity 2. Maintaining accurate set essential to record picture of your financial position to identify needs and weaknesses a. Prove creditworthiness, identify progress, cash flow b. What is effective, identify trends c. Bank statements, paystubs, tax forms, etc. in computers or file cabinets 3. Profit and loss statement, balance sheet, cash flow statement a. Make a balance sheet: total assets, total liabilities, total owners' equity (assets minus liabilities) i. Total assets, owners' equity and liabilities

Describe types of financial-services providers (CS)

1. Financial-services provider: institution that provides economic services a. Help maintain money, facilitate flow of capital, help accomplish things we can't do on our own 2. Two major types: a. Deposit-taking: accept and manage deposits i. Commercial banks: safe keeping of money, provide services from making deposits to managing accounts and making loans 1. No longer need large amounts of currency ii. Credit unions: owned and used by members; private group iii. Savings and loan association: specialize in savings accounts and mortgage b. Non-deposit taking i. Insurance company: pool risk by collecting premiums and insure against loss 1. Profit from a large number of premiums ii. Investment banks: cater to businesses, financial intermediary provide underwriting, security, IPO overseeing, and equity 1. Goldman Sachs and Morgan Stanley iii. Brokerage: facilitate securities transactions 3. Link to scenario

Identify sources of career information (CS)

1. Find new opportunities, advancement, how to improve a. Many sources to use: make sure they are accurate, right places 2. Personal contact: may not always best, know you the best and may know other people a. Also attend networking events (career fairs) and ask them i. Job shadowing or information interview 3. Libraries and career centers a. Occupational Outlook Handbook b. School Career centers with counseling, guest speakers, etc. c. Career counselors 4. Internet a. Bureau of Labor Statistics 5. Organizations a. Trade associations, labor unions, business itself 6. Examples

Write a follow-up letter after job interviews (CS)

1. Follow-up letter: letter you send after an interview to express your continued interest in the company and to reinforce your image a. Maintain image, show the company your appreciation, strengthen your impression b. Write down notes and questions when you get home i. Name: person-specific ii. Observations and questions iii. Handwritten, letter, email iv. Simple, objective, context, state purposes, subject line v. Reinforce interest, review qualifications, anything else the employer asked vi. Polite 2. Example letter

Respect the privacy of others (PQ)

1. Fundamental concept of business, constitute right to peaceful enjoyment a. Shows your respect, manages reputation, maintains trust and social boundaries i. To what degree? Consider person 1. Know their boundaries and respect them 2. Keep curiosity in check 3. Ask for permission 4. Don't snoop on other's conversation 5. Don't gossip 2. Specific examples

Explain the impact of geography on world trade (SP)

1. Geography: nature and relative arrangement of places and physical features a. Routes: costs for imports and exports i. Speed ii. Safety b. Supply and demand c. Economic development d. Resources and economic potential 2. Examples in scenario

Discuss the impact of globalization on business (SP)

1. Globalization: process of interaction and integration among the people, companies, and government of different nations a. Driven by international trade and investment, spread aided by information technology 2. Global economic growth a. More opportunities/larger market b. Acquire goods and services quickly and more efficiently c. Opportunities to outsource and offshore i. Labor d. Even out income streams e. Quick dissemination of information and innovation f. More jobs 3. Competition a. Domestic vs. global players 4. Barriers a. Adapt to different demographics b. Risks and uncertainties 5. Examples in scenario

Describe the impact of a country's history on world trade (SP)

1. History: events of the past a. Impact a country's ability to trade as well as its perception in trade relations i. Creditworthiness, political stability, significant events, changes in economy 1. Lead to speculation ii. Previous trade relations 1. New government will maintain them b. Shape cultural and social environments i. E. g. history of a authoritarian dictatorship 2. Examples in scenario

Demonstrate honesty and integrity (PQ)

1. Honest: sincere and telling the truth; integrity: quality of being honest and having strong moral principles a. Diff. integrity conduct: "doing the right thing even when no one is looking" but honesty is just telling the truth 2. Desirable qualities a. Protect reputation, relationships, and promote equity and fairness b. Honest: think before you speak, say what you mean, explain, correct misinterpretations, accept responsibilities c. Integrity: be honest, be ethical, don't claim credit for accomplishments not involved in, keeps promises, does not manipulate data or information for personal gain or protection 3. Specific examples with the scenario and world

Demonstrate problem-solving skills (CS)

1. How you work through details of a problem to reach a solution a. Analytical and critical thinking 2. IDEAL (solve sample problem along the way) a. Identify problem (what it is) b. Define (details, root to solve) i. Losing customers or high price c. Examine options i. Survey market, focus group, brainstorm, as many solutions d. Action plan i. Most advantages, least disadvantages ii. Plan out and implement with objectives e. Look at consequences i. Evaluate, benchmarks and feedback 1. Effectiveness overall and assist in future decision-making (what worked, what didn't)

Explain the role of ethics in human resources management (SP)

1. Human resources management: business function that manages an organization's workforce with the goal of maximizing employee performance 2. Ethics: moral principles that guide behavior 3. Key function in human resources management as a protector of rights and regulator 4. Promotion 5. Discipline 6. Distribution of rewards 7. Conditions of work 8. Sensitive information 9. Anonymity with problems 10. Conflicts of interest 11. Establish a code of conduct and instill ethical values during training a. Leader: set examples and stop behaviors that have gone too far b. Build ethical reputation and raise employee morale

Discuss the nature of human resources management (CS)

1. Human resources management: business function that manages an organization's workforce with the goal of maximizing employee performance a. Includes acquiring, training, motivating, managing employees i. Typically carried out by HR department 2. 3 sectors a. Personnel: hiring, training, evaluating, productivity, salary i. Empower employees and convey organizational objectives to guide their work b. Welfare: working conditions and corporate culture i. Diversity training and health and safety regulations c. Industrial: compliance, union-management relations 3. More value, satisfy employees, improve performances, sustain corporate image 4. Give examples

Lead change (CS)

1. If you're not willing to embrace change you're not ready to lead. Put simply, leadership is not a static endeavor. In fact, leadership demands fluidity, which requires the willingness to recognize the need for change, and finally, the ability to lead change. a. Change needed, no one to lead it b. Clear sense of what should be focusing on c. Empower others d. Vision, authority, ambition e. Competitive advantage 2. Identify need for change a. Lead change: initiative b. Manage change: authority, change agents, follow up 3. Lead: understand reasons to resist change so you can effectively help others adapt a. Fear b. Contentment c. Distrust d. Your reputation 4. Examples

Assess personal strengths and weaknesses (PQ)

1. Imp: developing your personal goals and finding career paths that suit you: more effective and happier when you work a. Example 2. SWOT: strengths and weaknesses internally, opportunities and threats externally a. Honest and realistic i. Consider feedback you've gotten or ask for feedback ii. Think about your fears b. Strengths to build on c. Weaknesses to fix i. Identify one strength for every weakness d. Opportunities to work towards e. Identify threats and develop a way to combat them 3. Easy to get discouraged: but, remember it's a learning process and that you will benefit from this 4. Go through a SWOT analysis with yourself

Prepare bank account documents (e. g. checks, deposit/withdrawal slips, endorsements, etc.) (PQ)

1. Important documents: track your cash flow, how much money you have, budgeting, protection against identity theft a. Check register: Check number, date, description, payment amount, reconciliation, deposit amount, new balance i. Reconcile bank statements b. Check: instruct bank to transfer funds i. Date, pay to whom, amount, written out (draw line to dollars), memo, signature c. Deposit Slip: transfer funds into your bank account i. Date, name, account number, deposits, subtotal, cash bak, grand total 2. Actually prepare some of them

Describe techniques for obtaining work experience (e.g., volunteer activities, internships) (PQ)

1. Important part of your qualifications, allows you to do your job better a. Try out work, develop good work ethics and habits, gain industry exposure b. Internship, volunteering, cooperative education, shadowing, freelancing, apprenticing i. Internship: exchange of services for experience ii. Volunteering: work for free, normally for a cause iii. Cooperative education: work while being educated, job pays for education iv. Shadowing: experience, walk through one day by following another professional v. Freelancing: work for yourself vi. Apprenticing: trade and vocational; job training while employed vii. Accept entry position and work hard to move up 2. Examples a. "Because I __, what I did was to__"

"Sell" ideas to others (SP)

1. In business, it's not enough to have your idea, you have to sell it a. Because an idea needs to be actualized 2. Gather information a. Know your market i. Use focus group, feedback, compile data on similar and competing ideas b. Look into production and viability i. What are the resources needed, costs, and projected income c. Before proceeding with the selling 3. Look for opportunities to sell a. Meet decision makers where they are: physically and psychologically i. Focus on the aspects they are most interested in 4. Professional presentation (if time) a. First, identify the problem you are solving with your idea b. Features and benefits c. Market: competition and why you are better i. Qualify targets d. Legal status: is it patented? e. Visual aids and research/statistics to back up idea 5. Make the sale a. Ask for it b. Assumptive close 6. Examples in scenario: sell something

Demonstrate connections between company actions and results (e.g., influencing consumer buying behavior, gaining market share, etc.) (SP)

1. In the world of business, one thing leads to another. The actions a company takes today will lead to results, good, or bad, that they face tomorrow. 2. Direct or indirect 3. Influence consumer buying behavior: create customer action which drivers results 4. Gain market share 5. Recognize the connection and correlation in order to appropriately design marketing promotions and create business plans 6. Examples in scenario

Describe the nature of income statements (SP)

1. Income statement or profit-and-loss statement: measures a company's financial performance over a specific accounting period through revenues and expenses 2. Revenue, costs of goods sold, gross margin, expenses, operating income (gross margin-selling, general and administrative expenses), other income and expenses, income tax expenses, net income or loss 3. Total revenue, total expense, net income 4. Profitability: determine if strategies are working, which activities generate most return 5. Examples in scenario (make income statement)

Describe sources of income (wages/salaries, interest, rent, dividends, transfer payments, etc.) (PQ)

1. Income: money received, important to facilitating cash flow and allowing people to acquire the things they need and improve their standard of living a. Wages: compensation for labor (per job or hour) b. Salary: compensation periodically (year) c. Self-employment d. Profit: owning business e. Rent f. Dividend: corporate profits g. Transfer payments: welfare and Social Security h. Sales of property 2. Give examples and identify those in scenario a. Business, employee, customers

Protect company information and intangibles (CS)

1. Information and intangible: data and nonphysical assets (digital or service) 2. Value of intangible assets more a. Pie chart (digital) b. Assets are things that are of value - wouldn't you say that brand recognition brings value? Can't be measured 3. Don't realize until 4. Data security a. Effective: what needs to be protected and who is using it b. Software updated; old accounts; shredding and destroying c. Employee: good passwords and back-ups i. Sign confidentiality agreements for trade secrets 5. Intellectual property, goodwill, brand recognition a. Patents, copyrights, maintaining customer relations, social responsibility, maintain repute 6. Connect

Explain ethical considerations in providing information (SP)

1. Information ethics: brand of ethics in relationships between creation, organization, dissemination, and use of information a. Increasingly important in the "information age" b. Need a strong ethical foundation with fair, equitable, and responsible practices in relation to ownership, access, privacy, security, and community 2. Ownership: respect copyrights, trademarks, and patents, intellectual freedom a. Access: Principle of Least Authority i. Verify identity of who we are providing information to 1. Only those who need it ii. Do not profit from sale of customer information b. Secure channel i. Guard from hackers and other external threats c. Present information in an unbiased way i. Verify that information is correct d. Internal prevention: confidentiality agreements and ethics training 3. Examples in scenario

Discuss the nature of information management (CS)

1. Information management: acquisition, management, distribution, and disposition of information a. Includes infrastructure for acquisition, storage in databases, processing to provide new data or reports, communicate information to those who need it, archiving or deletion i. Critical to success: tracking trends, supporting decision making, creating value 2. Use information systems: support securities management, operations, capital budgeting, forecasting and planning, risk management a. Organize financial reports, accident reports, surveys, industry trends 3. Pyramid model: a. Executive information system (strategic decision making), management information system (tactical decision making), transactional information system (operational decision making) 4. Example of information management in scenario

Explain legal issues associated with information management (SP)

1. Information management: definition, use, value, and distribution of all data and information within an organization whether processed by computer or not 2. Breach of contract, invasions of privacy (Title 13) and identity theft, intellectual property, trade secrets, electronic commerce, systems integrity, liability, digital 3. Deal with threats of phishing, online fraud, digital brand abuse, piracy 4. E-commerce and sourcing, social, and data privacy and security 5. Examples in scenario

Explain the role of ethics in information management (SP)

1. Information management: definition, use, value, and distribution of all data and information within an organization whether processed by computer or not 2. Ethics: moral principles that govern a person's or group's behavior a. Important as information is a powerful force b. In order to maintain integrity, we must enforce standards of acceptable behaviors 3. Obtaining information 4. Dissemination of information (unbiased, fair manner) and control of access 5. Sales activity 6. Intellectual property 7. Trade secrets 8. Examples in scenario

Explain the need for innovation skills (CS)

1. Innovation skill: something that allows individuals to develop new methods or solutions a. Creativity applied to reality b. Three skill sets i. Cognitive skills (creatively yet critically thinking) ii. Behavioral skills (solve problems, manage relationships) iii. Technical skills (research, project management, coding) c. Advance civilization, find solutions, develop competitive advantage i. In our industry d. Creativity won't get you anywhere, forever remain idea i. Innovation skill: put that to the real world and materialize your idea 1. Build off others' ideas

Apply information to accomplish a task (CS)

1. Insightful and reliable information are valuable as they guide decisions and tasks in the right direction a. Active listening and active reading; taking note of main ideas and crucial details b. Perform tasks correctly, efficiently, and effectively i. Simpler and easier ii. Sequence words: first, last 2. Give examples, actually apply information to accomplish task integrated with scenario

Describe the concept of insurance (CS)

1. Insurance: form of risk management; insured party make payments (premiums) to insurer in exchange for insurer to compensate insured party in case of loss a. Policyholder: person purchased insurance; Claim: recover payments; Deductible: how much policyholder pays b. Exist: Law of Large Numbers: for series of independent and identically distributed random variables, variance of average amount of claim decreases as number of claims increase i. Illustrate with numbers and example ii. Hurricane Katrina (Allstate) c. Captive insurance and reinsurance d. Consumer: best priced package with what you need, claim, deductible amount, replacement coverage 2. Examples

Assess personal interests and skills needed for success in business (PQ)

1. Int: what you like, skill: what you have a. Combine: desirable and successful career (happy with what you can do) 2. Int: related to business a. Passion (makes you wake up every day and want to work and continue) b. Example 3. Skill: communication, confident, motivation, ethics, creative a. Three most important i. Emotional intelligence 1. Deal with difficult scenarios effectively and objectively 2. Develop relationships and be able to network ii. Learning mindset 1. Get over losses 2. Improve each time based on what you learned iii. Leadership 1. Initiative 4. Examples with yourself

Demonstrate interest and enthusiasm (PQ)

1. Interest: state of wanting to know or learn about something, enthusiasm intense and eager interest a. Demonstrate in business environment: enthusiasm is a strong motivator and its contagious; enthusiasm makes menial tasks less boring i. Attract customers and developing relationships b. Verbal: use descriptive words, and vary your tone, employ active listening techniques that support that encourage the speaker i. Volunteer, be positive and optimistic c. Non-verbal: sit straight, smiling, nodding, maintaining eye contact, being energetic d. Be on time, take the initiative and be helpful 2. Specific examples in this scenario

Collaborate on and aggregate complex internal documents to create a common voice (SP)

1. Internal document: employee time sheets, W2, inventory receiving reports, duplicate purchase invoices, payroll, business reports and financial documents 2. Vision and mission a. Furthermore, integration allows more efficient use of documents 3. Google docs or cloud-based/web-based 4. Find common characteristics 5. Identify relevant information 6. Examples in scenario: create common voice

Monitor internal records for business information (SP)

1. Internal record: documents that documents business dealings and transaction a. Often have important information to be extracted 2. Data mining: database set of data for review and analysis a. Insights and analysts 3. Send orders, invoices, back orders, shipping and billing 4. Quick reports 5. Examples in scenario (monitor records and extract information)

Describe the scope of the Internet (PQ)

1. Internet: global communication network that allows computers to connect and exchange information a. Local to global scope linked by electronic and optical networking technologies i. Function: research, collaboration, sharing ideas, starting movements, etc. ii. Interactive and reach many people 2. Lots of examples

Interview for a job (PQ)

1. Interview: formal consultation used to evaluate qualifications of a job candidate a. Schedule interview b. Conduct research c. Be prepared d. Be punctual, clean and appropriate outfit so you're dressed for success, body language e. Be honest: fake, accepted, accepting fake version of me and I won't truly be happy i. Beneficial in long term f. Send a follow-up letter 2. Examples

Explain types of investments (CS)

1. Investment: process of putting money to use in something that offers potential profitable returns a. Maintain and develop wealth aside from just a job 2. Stock: ownership investment, own a part of the business and receive a portion of the business's profits a. Dividends, fluctuate every day b. Relatively high potential returns c. Short stocks (if stock price decrease, you earn) or use ETFs (futures) d. Initially start as Initial Public Offering (IPOs); approved by SEC and traded on over-the-counter markets or auction markets like NYSE and NASDAQ 3. Bond: lending investment, debt instrument where you loan money to corporation or government (and municipal) a. Coupon bond: periodic interest during life and get initial investment back i. Discount bond: buy $1000, pay $900 and get $1000 back b. Receive interest c. Relatively safe; less returns 4. Mutual fund: collection of stocks, bonds, and money-market assets a. Pool investors' money b. Operated and managed by managers c. Produce capital gains for fund's investors d. Specific goal or strategy: invest without time or experience i. Hedge fund: limited partnership using high risk strategies for high returns 5. FOREX: currency trading on foreign exchange, Real Estate, Commodities, money market accounts and certificates of deposit 6. Examples

Complete a job application (PQ)

1. Job application: form that an individual seeking employment must fill out to inform employer of applicant's qualifications and interests a. Convey interest, present impression, screen employees and determine who to interview, standardizes information and allows employers to gather information not on the resume b. Read through before filing c. Name, data, address, social security, telephone, age, position for, availability, education, crime, driver's license, skills, references, experience d. Complete every space with blue or black pen, or type, put N/A e. Be truthful f. Provide references g. Consistent with resume h. Proofread 2. Complete a job application

Utilize job-search strategies (PQ)

1. Job search: act of looking for employment due to unemployment, discontent, or desire for a better position a. Imp: find the best, most suitable job for you where you are happy and have the ability i. "I was searching for __ because. . . and I found out about it through" ii. Personal connections: friends, family, network iii. Web sites: internet is a powerful source 1. Linkedin, search websites, reviews, locations iv. Contact professional organizations in your field v. Job fairs, placement agency, intern, job shadowing, apprenticeship, temporary worker, career centers vi. Keep your business cards and prepare for the interview 2. Examples

Explain the concept of leadership (CS)

1. Leadership: process of how a person influences others to achieve a common goal a. Vital to any organization: clear path, make decisions, inspire action, oversee project implementation, lead project evaluation b. Without a leader, go nowhere as they have a confused vision and don't know how to coordinate their efforts. Leader, focus their work and delegate responsibilities to achieve objectives in the most effective and efficient way. 2. Possess these qualities: facilitate communication, set an example, good conduct, take initiative a. Trust and confidence 3. Give examples

Write a letter of application (CS)

1. Letter of application: sent with your resume to provide additional information on your skills and experience a. Detailed information on why you are qualified, reasons for interest and relevant skills and experience b. Position, make your point, proofread i. Subject, greeting, body (why you are writing, what you have to offer, indicate your interest for an interview) ii. Signature 2. Example after

Adhere to company protocols and policies (CS)

1. Maintain safe and stable work environment 2. Understand protocols and policies a. Employee handbook b. Many examples c. Follow and ask if you don't understand

Foster positive working relationships (CS)

1. Maintaining good work relationships vital to career success and fulfillment a. More engaged, better satisfaction, friends, happier, collaboration to teamwork to products i. Empathy: why wouldn't someone like you and work on that 1. Past feedback or ask for feedback, experiences, past evaluations ii. Trust foundation and mutual respect iii. Develop positive attitude iv. Set boundaries and respect them v. Communication vi. Emotional intelligence 2. Examples

Store information for future uses (CS)

1. Make information useful in future; accessible and safe to protect accuracy and integrity a. New tech, paperless i. Word, Excel, Access, CRM, Quickbooks, databases on computer ii. Using cloud computing: Google Drive (collaboration and groupware) and Dropbox iii. File cabinets and safe-deposit boxes iv. Consider: security, size, encryption, access, back-up, and deletion 2. Determine ways to best store information for scenario; integrate and use examples

Interpret statistical findings (SP)

1. Make sense of information in order to accurately use it and generate new information 2. Data mining 3. Charts or visual aids 4. Trends 5. Computer programs 6. Convey results in reader-friendly manner 7. Mean, median, mode, standard deviation 8. Examples in scenario (interpret statistical finding) a. This means ___

Explain the concept of management (CS)

1. Management: coordination of people's efforts and available resources to accomplish goals a. Four main functions (examples for each step) i. Planning 1. What needs to happen and generate action plan ii. Organizing 1. Optimal use of resources to carry out plans a. Range from human resources to physical resources iii. Directing 1. Finding what needs to be done and getting the right people to do it a. During the task (different than planning) iv. Controlling 1. Checking progress of work against plans and ensuring project moving in right direction a. During the task b. Take steps to ensure task is on track for successful completion b. Motivation: important for employee's to work at peak efficiency 2. Foster cooperation, increase productivity to secure maximize prosperity with minimum effort, harmonious environment for employers and employees a. End: lead to achievement of organizational objectives

Explain forms of financial exchange (cash, credit, debit, electronic funds transfer, etc.) (PQ)

1. Many forms of financial exchange broaden possession utility: convenience and ability to purchase or obtain product and service and make transactions more efficient a. Cash: bills, coins b. Check: paper document signed, cashed by bank c. EFT: electronic funds transfer like ATM or online banking d. Credit: purchase goods and services in exchange for promise to pay later e. Debit: seller to withdraw funds directly from consumer's bank account f. E-currency: bitcoin g. Bartering: traditional economic system h. Retail: layaway, on-approval (further consideration), cash-on-delivery (customer pay at delivery time) 2. Give examples pertaining to scenario and what types to use (what utility and benefits)

Discuss actions employees can take to achieve the company's desired results (SP)

1. Maximizing employee's effectiveness in the workplace can help company's achieve desired results 2. Know what needs to be done and have the desire to accomplish it 3. Know priorities: most important work 4. Cut out unnecessary processes 5. Don't put off decisions: proactive, try to take it a step further and take the initiative 6. Dependable, responsible, self-control, work hard, good reputation, good attitude 7. Like to think "action" and "learning experience" 8. Examples in scenario

Demonstrate negotiation skills (SP)

1. Negotiation: trying to reach an agreement or compromise through discussion with other involved parties 2. Preparation a. Understand purpose b. Understand the pros and cons; why people wouldn't agree i. Address opposition c. Research and statistics 3. Discussion a. Clarification of goals i. Both side understand POV b. Discussion: effective verbal communication and active listening skills i. Reduce misunderstandings ii. Build rapport iii. Problem solve and make decisions while being assertive c. Try to reach a win-win outcome i. Find commonalities ii. Compromise iii. Consider alternatives 4. Follow Up a. Implementation of a course or action b. Adjust if needed 5. Examples in scenario

Maintain appropriate personal appearance (PQ)

1. Not just what you wear: facial, clothes, grooming, body language a. Judge by cover - first impression and reflect well on your company you represent 2. Three areas a. Body i. Soft smile ii. Back straight but relaxes iii. Nod iv. Gestures v. Eye contact vi. Lean forward b. Clothes i. What appropriate for us? 1. Examples ii. Clean and pressed iii. Not too flashy in terms of accessories iv. Fit c. Grooming i. Clean hair ii. Shower every day iii. Oral hygiene: nothing stuck in teeth, mint iv. Not too much perfume 3. Go along the way and demonstrate

Use basic operating systems (PQ)

1. Operating system: software that manages computer hardware and software a. Most common: Microsoft Winders, Apple Mac OS X, Linux b. Communicate with a computer 2. Streamline processes, promoting efficiency; allowing for multiuser and multiprocessing capabilities a. Copy and delete files, save, run programs, and maintain information security 3. Examples a. "On a Mac, I can right click"

Explain the nature of operations (CS)

1. Operations: Day-to-day activities involved in a business for it to function and generate profit 2. Give examples of real world (hotel? Insurance?) a. Facility management, purchasing, logistics, security 3. Functioning a. Existential 4. Customer satisfication/retention 5. Efficiency a. Operations management and synergy b. Profit vs. Efficiency 6. Repetitive task; some employees don't think its important and say "__", however, I understand operations is key to ___, and as an intern, I would be very interested in contributing to ___'s operations.

Describe the use of technology in operations (SP)

1. Operations: activities involved in the day to day functions of a business a. Technology streamlines processes and promotes efficiency b. Design, management, improvement 2. TOM (Technology operations Management) a. Communication with vendors and in businesses b. Inventory management (auto-tracking) c. Calculating d. Manufacturing (automation) i. More value-added activities e. Facility management f. Scheduling g. Logistics 3. Operational flexibility a. Increase performance and quality 4. Examples in scenario (how technology contributes to operations)

Discuss the role of ethics in operations (SP)

1. Operations: activities involved in the day to day functions of the business conducted for the purpose of generating profits 2. Large role in operations: employees may not follow company protocol and take shortcuts a. Boring, tempted to take easy route b. Foundation of business: duties may be small, consequences large 3. Maintenance: cutting corners 4. Media and stakeholder interest, vendor, conflict of interest, scheduling, facility location, product design, security, health and safety compliance (training, updates, precautions), supply chain and distribution, manufacturing (prevent defective products that may injure consumers) 5. Examples in scenario

Explain the nature of organizational culture (SP)

1. Organizational culture: system of shared assumptions, values, and beliefs which governs how people behave in organizations a. Crucial role in shaping behavior and interactions 2. Risk Orientation: innovation 3. Precision Orientation: attention to detail - degree to which employees have to be accurate a. Fields 4. Achievement Orientation: emphasis on outcome - value process or results a. Stress 5. Collaboration Orientation: teams vs. individual achievements and work a. How are relationships built inside organization? b. Affect synergy and productivity 6. Competitive Orientation: aggressiveness, assertive or easygoing when dealing with competitors 7. Rule Orientation: stability, predictable and bureaucratic a. Large corporation vs. smaller new business 8. Examples in scenario

Ascertain employee's role in meeting organizational goals (SP)

1. Organizational goals: strategic objectives that a company's management establishes to outline expected outcomes and guide employee effort 2. Key concepts is goal alignment: integration a. Understanding leads to quicker execution of company strategy b. Reduces employee turnover: satisfied and valued c. Increase operating margins i. Understand individual goals and how they make direct contribution to achieving goals and how they relate to the company to become more engaged ii. Boost in productivity 3. Employees key part: ethics, work habits, attitudes a. They are the foundation, really make or break a company's success in reaching goals 4. Examples in scenario (how I can reach goals and how I understand them)

Determine the nature of organizational goals (SP)

1. Organizational goals: strategic objectives that a company's management establishes to outline expected outcomes and guide employee efforts 2. Official: qualitative, mission or vision statement communicating intention and general purpose 3. Operative: quantitative, steps to take to achieve official goals 4. Operational, productivity, profitability, quality, market share, social responsibility 5. Providing short term motivation and long term vision, able to direct efforts and maximize efficiency a. Source of legitimacy 6. Important to communicate goals to everyone and for employees to understand and take part in achieving goals 7. Examples in scenario (determine organizational goals and how to meet them)

Orient new employees (CS)

1. Orientation: act of familiarizing new employee with a business a. Visual: study of new employees where they rate orientation, higher score to higher performance b. Reduce anxiety and turnover rates, better integration, develop realistic job expectations i. Such, important to take time and effort 2. Walk through orientation a. Tour of business: clock in, policies and procedures, tasks and responsibilities i. Positive and assure them that they will be appreciated: encourage sense of belonging that will motivate them ii. Communication: talk to them and relieve anxiety b. End: mentor, review and follow up

Explain the nature of overhead/operating costs (SP)

1. Overhead costs: expense of operating the business not related to direct labor, materials, or third-party expenses to customers a. Critical support for business b. Important to understand them as little expenses can add up to a large sum 2. Fixed cost: does not change with sales or productivity a. Economies of scale: more fixed, more profit with more units b. Insurance, rent, depreciation, payroll 3. Variable: increase as production increases a. Advertising, supplies, utility, repairs 4. Cutting operating costs can maximize profit, or lead to decreased productivity, efficiency and profit a. Trade-off 5. Examples in scenario (overheads for company and how I reduced them or calculation)

Set personal goals (CS)

1. Personal goals: desired results that a person envisions, plans, and commits to achieve a. Provides long-term vision and short-term motivation i. Focuses your work, organize time and resources, serve as benchmarks ii. Mountains are only larger hills that can be scaled b. Three steps i. Identify large goals: vision ii. Break into smaller and smaller targets iii. Work to achieve it c. SMART goals check: Specific (you are able to reach your goal accurately), Measurable (you know if you have reached your goal and what progress you made), Attainable (can you even reach reach your goal at all), Relevant (is the goal long-lasting and helpful towards achieving your vision), Time-bound (when should I reach my goal) 2. Set a goal a. Time, and also how you have been working (related to scenario and work)

Demonstrate personal information management/productivity applications (PQ)

1. Personal information management: PIM - managing activities people perform to acquire, organize, maintain, retrieve, and use personal information a. Productivity software: category that helps users produce things like documents, databases, graphs, worksheets, presentations, and schedules 2. Demonstrate it (back up with examples) a. Personal file collecting b. Journal (OneNote) c. Lists (smartphone) d. Reminders (apple reminders) e. Email (gmail, outlook) f. Notes (Evernote, word, drive) g. Fax h. Alerts i. Spreadsheet (Excel and Numbers)

Determine personal vision (CS)

1. Personal vision: light at end of tunnel, what or where you want to be a. Busy: vision stabilizes, grounds, guides us - clear and focused; efficient in spending time and effort b. Basis of inspiration, framework for planning 2. Ways: a. Like a goal b. Timeframe, what you want, specific, work for it, accepting, personal vision statement or vision map 3. Actually create a vision a. My vision for the company

Leverage personality types in business situations (SP)

1. Personality: combination of characteristics or qualities that form an individual's distinctive character a. Change the way look at the world by changing your approach can lead to better interactions and better results 2. Generalized into types a. Driver: task based b. Analytics: introverted, task based c. Emotives: ask based and people based d. Expressives: outwards focused tellers and those who see the big picture e. Measured with extraversion or introversion, sensing or intuition, thinking or feeling, judging or perceiving 3. Scenarios: adapt yourself to the other in order to maintain relations and facilitate communications a. Other: Expressive, Driver may not work well i. Change my personality and place more emphasis on emotions and broader goal-setting 4. Examples in scenario

Identify desirable personality traits important to business (PQ)

1. Personality: complex combination of characteristics (personal traits) that distinguish you from another a. Often, these traits can be developed, are long-lasting, and reveal the type of person you are i. Also help you succeed in business b. Three main sectors i. Attitude: positive, empathetic, enthusiastic, curious, and confident ii. Ability: creative, punctual, self-aware and exhibit self-control, persevere and goal-focused, hardworking, dependable, responsible, take the initiative (imp) iii. Values: ethical, honest, loyal, open-minded 2. Identify specific traits for the scenario; integrate a. Good with numbers b. Methodical

Persuade others (SP)

1. Persuade: cause someone to act through reasoning or argument a. Key function of communication 2. Know your audience a. Persuade the persuadable b. Focus on the benefits and positive outcomes to them c. Get the audience's attention and give them a reason to pay attention 3. Know your environment a. Context and timing b. Place message in appropriate medium 4. Know your message a. Persistent b. Build credibility c. Create scarcity and urgency i. What problem will it solve? Why is it necessary? d. Images e. Prepared and confident 5. Examples in scenario

Describe the impact of the political environment on world trade (SP)

1. Political environment: state, government, and its institutions and legislations as well as the stakeholders who operate and interact with that system a. Government actions can affect the operations of a company b. Facilitate or hinder ability to conduct business activities in the foreign market i. Contribute to sovereign risk and political risk 2. Economics system 3. Political system: democratic or authoritarian 4. Political stability 5. Legal system: religious law or common law 6. Trade agreement and alliances 7. Trade barrier: tariffs, quotas, subsidies 8. Examples in scenario

Explain the impact of political relationships within an organization (SP)

1. Political relationships: social relationships in an organization made to gain authority or power 2. Can used to achieve changes that benefits the organization a. Increase efficiency, form interpersonal organizations, expedite change, promote organization and its members 3. Negative: for access to more power, status, or pseudo-authority a. Decrease in overall productivity by lowering the output of an individual b. Affects concentration c. Spoils quality environment d. Changes employee attitudes e. Demotivate, increase stress f. Damaging: prioritize own interests at the expense of others i. More politicized, lose sense of commitment ii. Must be addressed as a management concern using transparency and instilling ethical values iii. Create environment where political relationships take the back seat

Exhibit a positive attitude (PQ)

1. Positive attitude: state of mind where you are optimistic and expect favorable outcomes a. Influence others, make them feel better b. Move forward constructively and reduce stress c. Way of thinking and way of living that will improve overall well-being d. Stay optimistic: smile, be energetic and enthusiastic e. Self talk and positive affirmations: be appreciative and confident f. Visualize success and contentment 2. Demonstrate it a. Give lots of examples

Treat others fairly at work (PQ)

1. Positive internal and external relationships path to success a. Fairness: treat people in way that does not favor some over others b. Recognize reasons i. Demographics ii. Ideologies iii. Values 2. Give respect, communication and response a. Think before you speak, tactful b. Decide on solutions objectively c. Professional relationship i. Provide answers and be honest ii. Recognize and reward iii. Recognize differences iv. Encourage teamwork v. Diversity training 1. We live in a diverse world; recently started to become more open and diverse. Some still not in that mindset, important to help them transition to a tolerant view vi. No gossiping 3. Give examples

Follow instructions for use of equipment, tools, and machinery (PQ)

1. Prevent damage to yourself and business property a. 75% of workplace related injuries stem from misuse of business equipment i. Bar graph with types of workplace related injuries 2. Always make sure you understand instructions before you work 3. Upper level train lower a. List of instructions b. Pay attention during training i. Many think not important. . .but that can make a difference c. Don't be afraid to ask 4. Give examples 5. Connect back

Explain information privacy, security, and confidentiality considerations in business (CS)

1. Privacy: appropriate use of data (which data can be shared); Security: defending from unauthorized access and modification; Confidentiality: inside security, no unauthorized access a. Privacy: personal info and trade secrets b. CIA: Confidentiality, Integrity (accurate and reliable), Availability (accessed by right people) 2. Value of business concentrated in value of intangible assets a. Tec - more dependence b. Social responsibility with data c. Threats increasing 3. Data security policies and data confidentiality ensure data privacy a. Softwares, methods of comm, vendors, work, who to share, employees to share i. Daily and fundamental concern 4. Connect 5. I will do my best____, etc.

Utilize resources that can contribute to professional development (e.g., trade journals/periodicals, professional/trade associations, classes/seminars, trade shows, and mentors) (SP)

1. Professional development: facilitates learning opportunities including credentials a. Gain skills and knowledge for career success 2. Education: classes, seminars 3. New trends: trade shows, trade journals 4. Conferences: networking 5. Mentors: personal and first-hand source 6. Coaching: observation, reflection, action - reach full potential 7. Business: interning, shadowing, apprentice, residency 8. Examples in scenario: opportunities and which best/appropriate, which I have used and what I learned

Apply project-management tools to monitor and communicate project progress (SP)

1. Project-management: discipline of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria 2. Monitoring is key in the controlling process by ensuring that the project stays on the right track 3. Software: integrated a. Spreadsheet, database, project plan b. Automation to communicate results, produce graphs to show trends and progress c. Store project information in central location, it allows for more accurate and quicker access to data 4. Examples in scenario a. Create a monitoring and communicating plan

Identify resources needed for project (SP)

1. Project: temporary endeavor undertaken to create a unique service, product, or result 2. Resources for the completion of a project 3. Economic resources of land, labor, capital are now in the form of people, equipment, and materials a. People: human resources, right people right skill right time i. Motivate b. Equipment: depend on nature of project c. Material: consider budget and durability as well as quality d. Time, money, technology e. Determine resources for scenario 4. After identification, obtained and used 5. Examples in scenario (scope, time, quality, cost) a. Quality in middle with scope, time, cost

Explain the nature of project management (SP)

1. Project: temporary endeavor undertaken to create a unique service, product, or result a. Defined beginning and end with defined scope and characteristics 2. Project management: discipline of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria 3. Integration, cost, human resources, stakeholder management, scope, quality, communications, time, procurement, risk management 4. Focus and provides framework to help accomplish goals 5. Initiating 6. Planning a. Who: human resources, budget b. What: scope, goals, tasks, resources c. Where: location d. When: scheduling and timeline e. Why: rationale 7. Executing a. Procurement and communications 8. Monitoring and controlling a. Risk management b. Quality c. Stakeholder management 9. Closure a. Follow up 10. Examples in scenario (develop project plan and say how you will manage project)

Discuss the importance of utilizing ethical purchasing methods (SP)

1. Purchasing: the formal process of acquiring goods and services 2. Ethics: moral principles that guide behavior 3. Use of power 4. Conflict of interest 5. Transparency, confidentiality, fair treatment of suppliers 6. Business gifts and hospitality 7. Health and safety/child labor in relation to prices a. Cheap, but was it produced ethically - social responsibility 8. Discuss: examples in scenario with ethical conflicts and how to solve them

Explain the impact of the purchasing process on productivity (SP)

1. Purchasing: the formal process of buying goods and services 2. Productivity: the effectiveness of productive effort, especially in industry, as measured in terms of the rate of output per unit of input a. Significant impact b. Purchasing right amount of right goods at the right time i. Too much/too little ii. Quality iii. Outsourcing and technology 3. Examples in scenario (integration - supplement with well thought out examples)

Utilize quality control methods at work (SP)

1. Quality control measures ensure that a manufactured product or service adheres to a defined set of criteria and meets the requirements of the client or customer 2. Utilize to uphold reputation and quality; keep customers satisfied 3. Job management: defined processes, performance criteria, feedback by communicating with employees to improve quality control processes a. Personnel, integrity, organizational culture, motivation, team spirit, quality relationships b. Detailed and hardworking c. Product inspection and testing d. Six Sigma 4. Examples in scenario (how I implemented quality control methods)

Describe crucial elements of a quality culture (SP)

1. Quality culture: set of group values that guide how improvements are made to everyday working practices and outputs a. Essential to improving working environment and moving forward in the business world b. Quality has never mattered more as customers become more empowered and expect more c. Margin of error decreased, likelihood increased with influx of technology 2. Make quality a core value a. Peer involvement, emphasize ownership, commitment and support, communication, clear goals and standards, teamwork b. Training: ethics, integrity 3. Quality infrastructure a. Performance management system b. Quality control program i. Quality circle ii. Product inspections and monitoring 4. Examples in scenario (I help create quality culture)

Translate research findings into actionable business recommendations (SP)

1. Research can provide valuable insight and reveal important information that can help a business improve a. First, however, we need to turn data into insight in order to support decisions and drive actions 2. Define data: data analysis, context, need, vision, outlook 3. Build framework: filter, sort, grouping and segmentation 4. Visualize: trends, compare time, perspectives, relationships, synthesize 5. Apply in context and create action plan; implement and follow up 6. Examples in scenario (actually recommend actions based on research "based on __, we should___, because___"

Identify ways that technology impacts business (PQ)

1. Revolutionized how businesses operate a. Streamline the working process: location through video conferencing b. Supports advertising and marketing: utilization of social media and websites through internet which can reach wider audiences and global market i. New technology track where customers are looking and clicking to identify trends c. Increases employee productivity: e-training, process more information, reduce labor, expand operations through outsourcing i. Software systems: CRM d. Communication: orders faster and easier e. Customer: easier to comparison buy f. Potential: reach new markets and a global audience i. Generate more profit and develop a wider recognition 2. Give examples to scenario and outside world

Conduct a risk assessment of an event (SP)

1. Risk assessment: process that identifies potential hazards and analyzes what could happen if a hazard occurs a. Protect your workers and your business as well as staying in compliance 2. Identifying: hazards: something that could cause harm a. Feedback, inspections, research, experiences 3. Who might be harmed and how 4. Evaluate: categorizing 5. Managing: control measures a. Avoidance, control, financing, transference 6. Record 7. Reviewing: review assessment and follow up 8. Examples in scenario: conduct risk assessment

Explain the nature of risk management (SP)

1. Risk management: identification, assessment, and prioritization of risks followed by the coordination of resources to minimize, monitor, and control the probability and impact of unfortunate events a. Enterprise Risk Management b. Identify and characterize risks: economic, property, liability, human, digital c. Assess vulnerability of assets to threats d. Determine risk e. Identify ways to reduce risks i. Risk avoidance: not engage in activity ii. Risk retention/assumption: take on responsibility, possibility or loss small iii. Risk transference: insurance, financial burden elsewhere iv. Risk reduction f. Prioritize risk reduction measures i. Preventive measures 2. Protect assets a. 2008 financial crisis of loose credit and lending 3. Examples in scenario: manage risks in scenario

Identify requirements for international business travel (e.g., passport, visa, proof of citizenship, immunizations, and sponsorship letters) (SP)

1. Routine part of doing business a. Requirements that need to be kept in mind 2. Passport: official document issued by government certifying the holder's identity and citizenship and entitling them to travel under its protection to and from foreign countries a. Main purpose: identification i. Protects against terrorism, helps identify criminals ii. Protects you with your citizenship: utilize embassies if you need to 3. Visa: an endorsement on a passport indicating that the holder is allowed to enter, leave, or stay for a specified period of time in a country a. Different time grams and reasons for staying i. Again, security measure 4. Sponsorship letters: letters of invitation written by people a. Assist obtaining visa i. E. g. student or worker 5. Proof of citizenship: passport, birth or naturalization certificate, consular report of birth abroad 6. Immunizations: administration of vaccine to make a person resistant to an infectious disease a. Vary from region b. Protect health of traveler: bodies may not be suited to the foreign environments c. Bugs and tropical areas 7. Customs and currency restrictions 8. Examples in scenario

Follow rules of conduct (CS)

1. Rules of conduct: set of rules outlining social norms and responsibilities of an individual, party, or organization a. Ethical, honor, moral b. Maintain company image and smooth functioning 2. Might concern itself with: a. Conflicts of Interest b. Insider Training c. Competition d. Information Security e. Accounting Fraud f. Bribery g. Discrimination and Harassment h. Reporting Standards i. Appearance 3. Examples a. "For a __like us, may be"

Prepare a résumé (CS)

1. Résumé: brief account of a person's education, qualifications, and previous experience a. Sent with job application and letter of application 2. Before: brainstorm, list ideas, skills, experience, awards, education a. Tailor to your employer and job expectations: don't overwhelm i. Example 3. Professional, simple, easy to get information a. Reflect your job b. One page c. Personal information d. Summary statement e. Education (degree and date) f. Experience (jobs, internships, volunteering) g. Skills and awards h. Proofread SHARP i. Succinct ii. Honest iii. Attractive iv. Right v. Pertinent 4. Example

Exhibit self-confidence (PQ)

1. Self-confidence: belief in yourself a. Exhibiting important: allows others to perceive your self-confidence and believe in you, crucial concept in leadership b. Other people to feel your confidence: direct, dress well and have good posture i. Express conviction and commit; follow up on all your promises ii. Acknowledge your fears; do something out of your comfort zone and face them iii. Avoid striving for perfection; success isn't determined by perfection and nothing can truly be perfect unless you believe it is 2. Examples in the scenario a. When I was young, __

Demonstrate self-control (PQ)

1. Self-control: ability to control yourself and your emotions a. Crucial in maintaining good customer relations and deal with difficulties b. First step, recognize behavior learned and can be changed i. Identify what's troubling you ii. Find ways to fix it: positive, patient, enthusiastic iii. Depersonalize iv. Empathy: change the viewpoint v. View things as learning experiences 1. Helpful for me: turn every negative aspect into a positive and prevent difficult situations from happening again 2. Actually demonstrate it and give example

Explain the concept of self-esteem (PQ)

1. Self-esteem: terminology used in psychology; describe the overall sense of self-worth or personal value a. Stable and enduring personal trait b. Essential human need for mental and social development, arises automatically from a person's beliefs, and occurs in conjunction with a person's thoughts and behaviors 2. Imp: part of success a. Too much: narcissism, too little: negativity and destructive behavior b. Balanced amount: gain confidence, respect, and success i. Improve the work environment and move up the ladder 3. Give examples; interwoven a. Why should the scenario need self-esteem

Explain the concept of supply chain (CS)

1. Sequence of processes involved in the production and distribution of a commodity 2. Network a. Lead to more opportunities b. Negotiating power 3. Supply chain management 4. Important: satisfy consumers, on time and cheaply with logistics tools and databases a. Competitive Advantage without lowering prices b. Efficiency to lower costs (no redundancy) 5. Examples and connections

Handle and report emergency situations (CS)

1. Situations that pose an immediate risk to health, life, or property 2. Examples: gas leak, fire, earthquake 3. Keep workplace safe (customers too) a. Education b. Emergency action plan 4. Precautions: identify accidents 5. Handle: calm, 911, know address and directions, equipment, CPR 6. Connect a. We are in California, Earthquakes?

Describe small-business opportunities in international trade (SP)

1. Small business: independently owner and operated company limited in size a. Less than 500 people b. Often disadvantages when competing with corporate juggernauts i. International trade provides opportunities for a small business to thrive in a big world 2. Export with more opportunities a. International clientele leads to huge growth capacity b. Adjust and even out income stream 3. Import from overseas a. Cost low and quality high by reducing costs and gaining access to alternative material options and services providers 4. Help larger businesses outsource or offshore by providing services 5. Examples in scenario

Use social media to solicit new ideas and solutions (SP)

1. Social media: websites and applications that enable users to create and share content while participating in social networking 2. Powerful tool as it serves as a platform that connects minds and thought a. Creativity: as stimuli, trending topics and posts, find ideas through sharing, follow trendsetters i. Pinterest, Instagram, Reddit, Twitter questions ii. Used to monitor competitor activity iii. Create competitions with incentives 1. E. g. Lays flavor contest 3. Allow for quicker connection with customers a. Simple polls, monitor review and social media sites (comments), interact with customers to solicit feedback b. Market research can also be conducted 4. Examples in scenario

Explain the role of information systems (PQ)

1. Software that helps organize and analyze data a. Collect, process, store, and disseminate data to support decision making, coordinating, controlling, and analyzing 2. Pyramid: executive, management, transactional 3. Three fundamental roles a. Storage and analysis: inquiries and macros, integrating data, efficiency and effectiveness (cloud sharing) b. Decision making: evaluate information, assess trends i. Barbie c. Business processing: aid businesses in developing larger number of value-added systems in the company i. Simplify processes ii. Eliminate repetition and increase accuracy, allowing employees to concentrate on higher level functions iii. Project planning and implementation through monitoring and benchmarking 4. Examples

Demonstrate basic spreadsheet applications (PQ)

1. Spreadsheet: electronic document where data arranged in rows and columns of grid a. Manage data and provide ability to transform and view data in different formats 2. Simpler, carry out mass calculations, productivity (speeds up accounting), portability, flexibility, low cost 3. Wide scope a. Calculating i. Input data ii. Calculations: functions and formulas 1. =something iii. Statistics: AVERAGE and MEDIAN b. Generating Graphs i. Bar, line, pie, area, etc. to analyze and present data ii. Presentation 4. Examples

Recognize personal biases and stereotypes (PQ)

1. Stereotype: oversimplified and preconceived belief about a group; bias is a personal preference a. Recognize: correct them, become more tolerant and understanding 1. Also, pre-judgment in hiring screens out many competent applicants ii. Recognition in written: allow you to assess the validity of that source iii. Others: more objective and not get influenced yourself 2. Four steps a. Mindful of biases i. Empathy in communication ii. Help you identify them so you can work on them b. Identify benefits: what gives you that illusion of control and predictability? i. Has to be a reason that you believe what you believe 1. False sense of security or a superior attitude c. Dissect the bias i. Weaken the foundation; hardest 1. When do you first remember having that stereotype? 2. Examples ii. Preconceived: subconsciously passed on d. Find a common denominator i. Identify with that person or group 3. Examples, identify bias that may occur

Explain the nature of stress management (SP)

1. Stress: state of mental or emotional strain resulting from adverse or demanding circumstances a. Reduce and prevent stress to stay healthy and continue working 2. Identify source of stress and work to avoid it 3. Exercise, alter situation (express), adapt to stressor (big picture and learning experience), accept, fun and relaxation, healthy lifestyle a. Yoga and stress relieving activities (ASMR) b. Ask for help 4. Examples in scenario

Explain the benefits of supply chain collaboration (SP)

1. Supply chain: the sequence of processes involved in the production and distribution of a commodity a. Joint initiatives that go beyond the normal scope 2. Share best practice 3. Fewer defects 4. Improved communications 5. Empower suppliers 6. Stability and flexibility a. Continuity of supply 7. Lower costs: routinized 8. Word of mouth: referrals 9. Mutually beneficial relationship 10. Examples in scenario

Demonstrate systematic behavior (PQ)

1. Systematic behavior: characterized by order and planning a. Consistent performance and maintain efficiency b. Policies and procedures i. Increase predictability and efficiency ii. Expectations eliminate concerns that interfere with productivity and create guidelines 1. Who does what 2. Mail c. Personal life as well i. Utilize goal-setting, budgeting, scheduling 2. Examples for both

Prepare personal income tax forms (i. e. 1040 EZ form) (CS)

1. Tax form: used to file income taxes with Internal Revenue Service (IRS) a. Eligible for return of taxes b. Fill out the simplest form i. 1040: itemized deductions, income more than $100,000; 1040A taxable less than $100,000, 1040EZ no itemized deductions with income less than $100,000 and no dependents 2. Make tax return form? a. Name, joint, address, SS, W2 salary, taxable interest, adjusted income, dependent, income tax withheld, total payment, tax, refund, amount you owe, signature, date, occupation, phone i. 50 cents or more to whole dollar

Explain the nature of tax liabilities (PQ)

1. Tax: payments you make to the government for services they provide a. Tax liability: total amount of tax you owe i. Imp: support society and avoid penalties b. Planning reduce liability and take advantage of benefits i. Income, Social Security, sales, wealth, property taxes ii. Tax laws and tax records 2. Integrate into example

Participate as a team member (CS)

1. Teamwork is vital to success; produce greater value and make more efficient and effective a. Be prepared: be prompt and ready to perform b. Respect: each person has value c. Be aware of body language - stay focused on mission d. Conflict managed well e. Communicate f. Initiative and proactive g. Give credit h. Follow up 2. Give examples

Explain the nature and scope of purchasing (CS)

1. The activity of acquiring goods or services to accomplish the goals of an enterprise 2. Maintain quality and value 3. Competitive Position a. From 2 4. Minimize cash tie-ups 5. Maintain flow of inputs to facilitate outputs 6. Scope: maintain inventory, manage bidding, negotiations, inspect a. Too much burden, too little (loss of money) i. Stats? b. Reorder 7. Connect and use visuals

Describe the use of technology in human resources management (SP)

1. The influx of technology has affected that area of human resources management as well 2. Human resources management: business function designed to maximize employee performance in service of an employer's strategic objectives 3. Streamline processes and promote efficiency 4. Recruiting: Internet and networking, profile and social media monitoring 5. Training 6. Human Resources Information Systems (HRIS): payroll - earnings, taxes, deductions; benefits; personal data; performance - assess and store performance reports and feedback a. Retrieve data and automate functions 7. Examples in scenario

Use time-management skills (SP)

1. Time management: the processes and tools that increase efficiency and productivity for a specific period of time 2. Identifying activities and goal-setting a. SMART goals 3. Planning: thinking and organizing activities a. Prioritizing: importance and order b. Schedule, to-do list, technology c. Set deadlines, allocate enough time, be realistic d. Schedule for interruptions, block off distractions like social media 4. Group: decisions and delegating 5. More efficient and productive 6. Examples in scenario: manage time

Explain the time value of money (CS)

1. Time value of money: concept that money available at present time is worth more than it will in the future because of its potential earning capacity a. Interest i. Invest; compounding b. Inflation i. General increase in prices and fall in the purchasing amount of money ii. Less buying power for the same amount 1. Give examples for this: milk $5 now, milk $6 later so $5 later cannot buy milk 2. Integral to business: compare investments like $5000 now or $600 every year for 10 years a. Although $600 better, think about what you can do with that $5000 now and you can reinvest it into the market b. Helpful for investors determining present and future value and if it is a worthy investment

Explain the impact of major trade alliances on business activities (SP)

1. Trade alliance: treaty governing commerce between two or more nations a. North American Free Trade Area and the European Union 2. Major impact on trade and investment worldwide: shapes business relations across the globe a. Eliminate or substantially reduces trade barriers i. Customs union: common external tariff ii. Common market: no restrictions on labor and capital b. Opens up market and leads to new opportunities c. Increase in efficiency and competitiveness d. Create jobs and increase incomes i. Reduce costs of imported while providing opportunities for exporters 3. Examples in scenario

Overcome problems and difficulties associated with office politics/turf wars (CS)

1. Turf Wars: limited resources, rewards a. Limits creativity, cooperation, detrimental to company as it creates personal strife b. Resolve: increase understanding, group cohesion, self-knowledge 2. Interpersonal conflict, structural conflict: role dissatisfaction a. Communication i. Don't let emotions drive decisions ii. Define acceptable behavior; don't assume 1. Seek out areas of potential conflict 3. Give examples

Explain procedures for handling accidents (CS)

1. Unexpected events that occur suddenly and cause injury or increased liabilities 2. Give examples of accidents (slipping wet floor!) 3. Prevented by following health and safety regulations 4. Happens: lives take priority a. File accident reports as quickly as possible b. Take legitimately 5. Connect to world and to us

Select vendors (SP)

1. Vendor: person or company offering item needed/wanted by purchaser a. Healthy relationship between buyer and seller provide competitive advantage b. Ability to consistently supply materials of time and flexibility in providing rush or extra deliveries 2. Analyze the business requirements a. Define good, define technical and business, vendor, request for proposal (fair and same) 3. Vendor search and evaluation a. Pricing, discounts, reputation 4. Examples in scenario (select and identify possible vendors)

Evaluate vendor performance (SP)

1. Vendor: person or company offering something desired by purchaser 2. Establish standards and be fair a. Evaluation method 3. Price, available discounts, reliability, timeliness a. On time, responsive, willing to build long-term relationship b. Cut loose weak links c. Results d. Innovation: new features and approaches to problems, creative responses 4. Examples in scenario (evaluate vendors)

Enlist others in working toward a shared vision (CS)

1. Vision: what you want to create or accomplish as part of organization a. Doesn't just involve you, more efficient and effective, we cannot accomplish everything on our own b. Define vision: realistic? Something you would want to invest in? c. Who you want: similar, benefits d. Seek e. Sell the idea and inspire them f. Follow up 2. Example

Evaluate quality and source of information (CS)

1. Walk through process with information 2. Acronym a. REVIEW i. Relevance 1. Do you need this source or not? Before you proceed ii. Expertise of Author 1. Credentials? What makes their opinion worth listening to? iii. Viewpoint of Author/Organization 1. Determine bias, which can alter the purpose of a piece of information drastically a. Generally, objective and helpful b. No crazy theorists or "anyone can publish" type iv. Intended Audience 1. Children or academia? Too elementary or advanced? a. Trying to persuade or provide information i. Facts or opinions ii. Grammar and spelling as well as writing style v. Evidence 1. How do they back it up? a. Use reliable sources vi. When Published 1. Date a. Ever-changing, something relevant a year ago won't be relevant now b. Consider context

Create and post basic web page (CS)

1. Web page: hypertext document connected to internet a. HTML, hyperlinked to web pages i. Form website 2. Convey message to wide audience, give information, useful in marketing a. Web page software, HTML code, save to hard drive, web host, upload, domain, test, promote, build more b. Professional web designer or templates like google sites, wix, blogger 3. Purpose and be simple; avoid too flashy or too text, attractive and interesting

Demonstrate basic web-search skills (PQ)

1. Web-search: find information quickly and accurately a. From variety of sources and many shortcuts can simplify the process 2. Conduct web-search: search engines a. Google, bing, yahoo, aol i. Images like Mayflower 3. Commands to narrow down and make searching more productive a. Quotation market exact phrases b. Minus operator to narrow, plus to include words c. Advanced searches d. Control F e. OR operator, numeric ranges, related sites, tilde and wildcard operator f. Don't use punctuation, capitalization, or suffixes 4. Go through a web search

Demonstrate basic word processing skills (PQ)

1. Word processing: using computer to create, edit, and print documents a. Most common b. Word processor: create, store, display, modify, and print i. Save: make changes without having to start over c. Security, collaboration, portability, cost 2. Skills a. Text alignment, copy, paste, cut, fonts, margins and line spacing, insert, formatting, spell check, grammar check, punctuation, headers and footers, bullets and numbering, highlighting, bold, underline, italicize, templates 3. Examples

Explain the rights of workers (PQ)

1. Workers' right: group of legal rights and human rights having to do with labor relations between workers and their employers a. Safe and clean workplace b. Overtime c. Equal pay (Fair labor Standards Act—minimum wage) d. Family and medical leave (Family and Medical Leave Act) e. Without discrimination of age, disability, gender, race, religion, pregnancy, immigration status i. Regulated by Equal Employment Opportunity Commission f. Join or form union g. Social security, unemployment benefits 2. Examples in scenario

Describe legal issues affecting businesses (SP)

1. Accidents, customer lawsuits, being in compliance with laws 2. External a. Immigration, environmental, support groups, IRS, competition i. Anti-trust b. Copyright and patent issues i. Aggressive litigation 3. Internal a. Employees: minimum wage, OSHA b. Wrongful termination, discrimination and harassment i. Leave psychological impact c. Dissatisfied customers: class action lawsuits 4. Differ from jurisdiction and industry a. Imp: aware in order to stay in business

Identify sources that provide relevant, valid written material (PQ)

1. Accuracy, integrity, effectively, efficiently 2. Acronym a. REVIEW i. Relevance 1. Do you need this source or not? Or is it only a cat video you looked up because you were bored? ii. Expertise of Author 1. Credentials? What makes their opinion worth listening to? iii. Viewpoint of Author/Organization 1. Determine bias, which can alter the purpose of a piece of information drastically a. Generally, objective and helpful b. No crazy theorists iv. Intended Audience 1. Children or academia? Too elementary or advanced? a. Trying to persuade or provide information i. Facts or opinions v. Evidence 1. How do they back it up? a. Use reliable sources vi. When Published 1. Date a. Ever-changing, something relevant a year ago won't be relevant now b. Consider context 3. Create a written example to facilitate this along the way

Discuss the role of administrative law (SP)

1. Administrative law: the powers granted to administrative agencies, the substantive rules that such agencies make, and the legal relationships between such agencies, other government bodies, and the public at large a. Government benefits, OSHA, Department of Education, Commerce, Interior b. Agencies: established by Congress 2. Maintain order within governmental agencies a. Ensures responsibility and accountability 3. Examples in scenario

Explain the nature of agency relationships (SP)

1. Agency relationships: principal-agent relationships a. Principal grants legal authority for an agent to act on principal's behalf i. Fiduciary relationships created through agreement (implied) ii. Element: control iii. Principal liable for consequences iv. Consent of both 2. Employees, financial advice 3. Examples in scenario

Choose appropriate channel for workplace communication (CS)

1. Appropriate channel: effective and efficient, convey message accurately, clearly, and timely 2. Types of channels: emails, letters, memos, telephone call, video conferencing a. Identify audience: convenient b. Consider complexity: elucidate your ideas and support them c. Purpose and situation i. Formal or informal ii. Public or private iii. Interactive or not 3. Give examples and choose a channel

Adapt communication to the cultural and social differences among clients (CS)

1. Barriers to effective communication a. Nixon flicking "ok" symbol to Brazilians; in Brazil is considered very very obscene and offensive b. Adapting will help you overcome that barrier and be respectful and conduct business appropriately c. Begin by respecting differences i. Avoid stereotypes and keep an open mind ii. Maintain awareness of language and cultural differences 1. Customs 2. Language barriers 3. Conservatism 4. Ideologies 5. Be polite: look for non-verbal cues 2. Acquire the ability to adapt: widen your market and be able to reach out to a global audience 3. Give examples

Identify company's brand promise (CS)

1. Brand promise: statement of enduring, relevant, and distinctive benefits valued by customers a. Associated with a product, service, or brand b. Unique promise that drives every decision 2. Product recognition and identification: sets you apart from your competitors: builds customer loyalty and ensures consistency 3. Identify: based on customer, competitor, and internal insights a. Perspective through qualitative and quantitative research and honest assessment of strengths, weaknesses, and intent 4. Translated into supporting brand identity a. Logo, tag line, trademark 5. Actually identify the scenario's brand promise and integrate it: provide examples where it is used and how it drives decision making

Explain types of business ownership (CS)

1. Business - legally recognized organization designed to provide goods or services to consumers 2. Ownership - the ability to dictate it 3. Three ways to own a business a. Start, join franchise, purchase 4. Five common types of business ownership (vary by jurisdiction) a. Sole proprietorship i. Most common type of business ownership where the business is owned by one person who shares all assets of the business ii. Both sued b. Partnership (general and limited) i. Two people start business ii. General unlimited c. Corporation i. Separate entity ii. Shareholders and Board of Directors d. S Corporation i. No double taxation e. Limited Liability Company i. Corporation and partnership ii. Limited liability, personal income tax

Describe types of business activities (CS)

1. Business activities impact daily productivity and company growth a. Allow an organization to function efficiently 2. Four broad groups a. Production i. Purchasing ii. Inventory management iii. Manufacturing b. Marketing i. Developing company and brand recognition c. Management i. Organizing ii. Controlling iii. Directing iv. Ex. Customer service, hiring employees, overseeing daily activities d. Finance i. Financing: raising capital ii. Accounting: managing flow of money in and out of the company iii. Budgeting: setting goals and forecasting 3. Three main sectors of business activities a. Primary: farming and extraction b. Secondary: manufacturing and processing c. Tertiary: services and selling d. Say which one the scenario is in 4. Give examples for each step: determine

Determine the impact of business cycles on business activities (SP)

1. Business cycle: fluctuation in economic activity that an economy experiences over a period of time a. Strong impact on profit and business activities 2. Expansion: characterized by high growth, low unemployment, high consumer spending and confidence 3. Peak: turning point 4. Contraction: low growth, high unemployment, less consumer spending a. Recession if long 5. Trough: low point a. Deep: depression 6. Adjust to changes in order to stay afloat a. Benefit: fast-food, value; while others take a hit b. Changing demand and profit i. Alter production and personnel ii. Expand iii. Long-term planning 7. Examples in scenario

Describe factors that affect the business environment (SP)

1. Business environment: internal and external factors that affect how a company functions a. Act and react b. External i. Competition: success, potential ii. Social: values iii. Culture iv. Economic: demand 1. Business cycle v. Political: legal vi. Technological c. Internal i. Ethical ii. Organizational culture 2. Examples for all and analysis of scenario's business environment

Explain the nature of business ethics (SP)

1. Business ethics: examines principles of moral or ethical problems that arise in a business environment a. Applies to all aspects of business conduct; relevant to conduct of individuals and entire organization b. Product, finance, management, marketing c. Corporate governance d. Insider trading e. Bribery f. Discrimination g. Social responsibility 2. Ethical image: goodwill and loyalty among employees and customers alike 3. Examples in scenario

Write business letters (CS)

1. Business letters: type of formal correspondence to inform, educate, or persuade the recipient a. Usually external: business to another business or organization b. Often can be very powerful: important to write them correctly in order for it to be effective 2. Components a. Letterhead: sender's address b. Date c. Inside address: recipient's address d. Salutation: same name as inside address e. Body: single space, left justified i. Get to the point! Professional, well-written, clear purpose 1. Main point, importance, and provide any information f. Closing: line after paragraph i. Four lines after sender's name for signature g. Proofread 3. Write a business letter (diagram!)

Describe types of business models (SP)

1. Business model: how a company sells products to its customers a. Defines how enterprise delivers value, gets consumers to pay, converts those payments to profit 2. Manufacturer: raw materials into products or assembles premade components into products (car manufacturer) a. Sell directly or outsource 3. Distributor: purchase products directly from manufacturer for resale to retail outlets or public a. Car dealership 4. Retailer: purchase product from distributor or wholesaler to sells to public 5. Franchise: manufacturer, distributor, retailer a. Franchise business model 6. Physical and online presence, internet, direct selling, Freemium, online auctions

Identify factors affecting a business's profit (CS)

1. Business profit: financial benefits, difference between revenue and expenses a. Change in sales: most visible i. Economic health, market stability, weather disasters b. Change in expenses: raw materials can be caused by political unrest, weather, global supply issues i. Price of labor, insurance costs, or fringe benefits 1. Inventory methods: FIFO vs. LIFO c. Change in economy: business cycle, demand, and bottom line i. Government regulations and taxation 1. Economic recession d. Change in competition: same market for same customers i. Apple and Microsoft 2. Identify factors for specific scenario a. And for real world 3. Important to recognize factors in order to plan for them and maximize profit

Determine factors affecting business risk (CS)

1. Business risk: possibility that a business will experience a loss that impairs its ability to provide returns on investment a. Internal i. Human, technological, physical (equipment malfunctions and obsolescence) 1. Examples ii. Fixed Cost Structure iii. Size of business (small, high risk) iv. Growth prospect v. Product diversification vi. Sensitivity of demand b. External i. Economic, natural, political, social 1. Examples: real life ii. Intensity of competition iii. Storms and earthquakes iv. Government regulations 2. Give specific examples

Identify the basic torts relating to business enterprises (SP)

1. Business tort: civil wrong against an organization a. Intentional tort: defendant intended the injury or act b. Negligence: carelessness c. Strict liability: even though defendant not negligent i. Placing others in danger through dangerous animal, product 2. Major areas of law, more civil litigation than any other a. Harm done to intangibles: fraud, embezzlement, forging work hours b. Breach of fiduciary duty c. Conspiracy d. Breaches of contract e. In relation to trade secret and copyright laws 3. Examples in scenario

Extract relevant information from written materials (PQ)

1. Business: lot of reading and take in a lot of information a. Just as you do anything else, efficient and effective 2. Three main activities: a. Pre-reading i. Source valid ii. Determine what you want to know b. Reading i. Headings, graphics, introductions and summaries ii. Table of contents or index if included iii. Take notes c. Review i. Review notes and key concepts ii. Think of questions - do some research to find the answer 3. Make example and follow along

Explain how organizations adapt to today's markets (SP)

1. Changing at fast pace: businesses have to adapt to the changes in order to be successful and stay successful 2. SWOT analysis: in different context, strength, weakness, opportunities, threats change a. Examples 3. Environmental scan: analyze business environment a. Competition, industry leaders, technology b. Market diff culture, change selling strategy, develop or modify products 4. Plan to adapt: take advantage of new opportunities; change our game to beat the competition

Interpret others' nonverbal cues (PQ)

1. Communication: nonverbal important convey things not said in words a. Hard to control: more truthful situation b. Provide essential information c. As much power in nonverbal as verbal and written d. Understanding, reinforcement, contradiction 2. Overall signals: dress, clean convey clues of who they are and what they want to be perceived as 3. Posture: slouch vs. upright 4. Handshake: strong, firm 5. Eye contact: controlled or forced 6. Attentive: lean, listen, engage in conversation and answer questions 7. Tone: pitch or feelings 8. Gestures: used to emphasize, help you identify main points 9. Facial expression: smile, frown 10. Give examples to integrate into the situation a. Ie: I've just met a customer this morning from when I was

Determine ways of reinforcing the company's image through employee performance (CS)

1. Company image: perception people have of your company, often associated with reputation a. Many factors like history, events, advertising b. Employee performance most powerful tool in reinforcing a company's image i. As our employees develop a positive outlook and responds to the needs of the customer: company will look better and develop a better image in the business environment ii. Implement these ideas during training 2. Attitude a. Optimistic, helpful, empathetic i. Reflect well on business ii. Message that they love work and that our business is a fun and loving one 3. Dedication a. Always available, answer questions promptly, and follow up i. Imp in sales: speed and care of handling orders b. Punctual and fulfill all promises c. Accurate and truthful 4. Insightfulness a. Give customers advice that will maximize their experience i. Suggestion selling 5. Determine some specific ways for our company

Explain the concept of competition (CS)

1. Competition exists when two or more companies act to conduct business with the same consumers a. Rivalry between companies selling similar products and services with the goal of achieving profit 2. Drives innovation, identifies strengths and weaknesses, good for consumers as it improves customer service and widens the market by providing alternatives a. Greater selection and drives down prices; preventing monopolies b. Depends on number of substitutes, more substitutes, more competition 3. Three types a. Direct: same functions compete i. Diff. brands 1. Apple and Microsoft b. Indirect: close substitutes i. Mayo and mustard for sandwich c. Budget/Replacement: broad, something someone could do instead of choosing your product while using same resources 4. Identify potential competition for the scenario a. Like actual banks and stuff

Discuss the measure of consumer spending as an economic indicator (SP)

1. Consumer spending: purchases of goods and services made by individuals a. Largest part of aggregate demand at macroeconomic level, encompassing 70% of all economic activity and the GDP i. Considerations of personal income and personal outlay (personal consumption) ii. Durable and nondurables 2. Buying habits directly affect profits a. Trends b. Status of the economy c. Consumer confidence d. Affects supply and demand 3. Important consideration when performing business activities 4. Examples from scenario

Describe the nature of legally binding contracts (SP)

1. Contract: agreement between two or more parties that is intended to be enforceable by law 2. Legally binding, five major requirements a. Offer and acceptance: proposal with something in return b. Genuine asset: contract evidenced by words, written or spoken c. Legality: if the action is legal d. Consideration: both parties receiving something of legal value e. Capacity: both parties are conscious and able to understand the contract and what it will entail i. Not intoxicated 3. Analyze if I and judge's work can be legally binding contract

Facilitate (lead) group discussions (SP)

1. Group discussion: interaction oral process that allows participants to express views and opinions, build off each other's ideas a. Essential to growth and collaboration: discover new ideas and promote integration in the work environment b. Facilitator: leader that helps the group understand objectives and stay on track; through efforts, focus energy and effort, promoting maximum efficiency 2. Preparation: neutrality, ice breaker, structure 3. Guide: questions, record (visible to group) a. Include everyone; inclusive b. Aware of conflicts 4. Close: reflect and follow-up 5. Examples in scenario

Explain the nature of positive customer relations (CS)

1. Customer Relations: organization's approach to winning and retaining customers a. Stay in business: gain and maintain customer base and develop reputation i. Therefore, positive - yield benefits to business, employee, and customer 1. Business: competitive, repeat customers, greater profits a. Customer spread word and promote our image b. Conversely, aren't treated well and allowed to feel comfortable, won't consider shopping a second time 2. Employee: compliments, promotions, more enjoyable work 3. Customers: pleasant experience a. Combine to create a culture of goodwill 2. That said: demonstrated anytime a. Communication is key: informed, follow up to let them know they are appreciated i. Develop rewards, handle complaints as opportunities, be easy to contact, exceed expectations, ensure activities built around the customer's convenience 3. Give examples

Respond to customer inquiries (CS)

1. Customer inquiry: customer's request to a company that they provide a quotation or sales information a. E. g. conditions, delivery dates, materials 2. Respond expediently with helpful attitude and to respond accurately to build trust a. Creates competitive advantage and builds a positive image for the company 3. When responding: be respectful and take your time a. Customer actually contacts business: they really do want problem to be solved i. Identify problem ii. Show your understanding and ask for clarification iii. Be prompt: find information accurately and efficiently, don't waste their time and you don't want to provide wrong information 1. Give them a bad image of you and they won't trust you again 4. Demonstrate it; weave example throughout

Describe the use of technology in customer relationship management (SP)

1. Customer relationship management: practices, strategies, and technologies that companies use to manage and analyze customer interactions throughout the customer lifecycle 2. Help you give your customers what they want, when they want it a. Data management and analytics, insight-driven marketing, marketing automation, self-service optimization, workforce effectiveness b. Identify trends, store personal notes, market segmentation i. Streamline processes and focuses efforts ii. Maintain communications c. Websites, e-mail, databases (information technology), social networking 3. SalesForce, Constant Contact, InfusionSoft

Explain the role of ethics in customer relationship management (SP)

1. Customer relationship management: practices, strategies, and technologies that companies use to manage and analyze customer interactions throughout the customer lifecycle 2. Organization can influence customers with the way it conducts itself a. Develop strong reputation: ethics b. Train employees and imbue values, correct representation, ethical processes, code of conduct, fairness in customers 3. Right products, information, corporate citizenship a. Social responsibility b. Against unethical customers c. Personal information: privacy, protect data and information 4. Function, ethical successful 5. Examples in scenario

Discuss the nature of customer relationship management (SP)

1. Customer relationship management: practices, strategies, and technologies that companies use to manage and analyze customer interactions throughout the customer lifecycle a. Goals: improving business relationships, increase customer retention, drive sales growth b. Seamless, consistent, outstanding customer experience across touch points to maximize relationships 2. CRM software: automate and synchronize a. Sales force automation, contact center, marketing automation, geolocation technology b. Collect information, identify trends, track customer interaction, communicate with customers i. Combine to most valuable asset: customer data c. Follow-ups retain i. Coupons or updates; rewards 3. Examples in scenario

Build and maintain relationships with customers (SP)

1. Customer relationship: all about interactions, the way in which your company communicates and deals with existing customers a. Gain repeat customers and build trust b. Listen, genuine, create and engage, care as person, emphasis on customer success, develop reputation, follow up and keep in touch c. Customer rewards, encouraging feedback 2. Examples in scenario

Demonstrate a customer-service mindset (CS)

1. Customer-service mindset: outlook that focuses on creating customer value, loyalty, and trust a. Empathizing: be understanding of a customer's position i. Foster customer relations and help you effectively deal with customers ii. Includes being generous, thinking of every interaction as an opportunity to promote your image iii. Make your customer feel important b. Start with a vision: have a consistent goal and communicate it to our most valuable asset, our employees i. Daily interactions with customers, important for them to have this 1. Imbue mindset in them during training ii. End: follow up and gain feedback 2. Imp: keep and develop new customers to build a customer base, develop a good reputation, and growing our brand recognition 3. Demonstrate a mindset (example! Anecdote!) a. "For example, when I was interning at __, a customer came in"

Handle customer/client complaints (CS)

1. Customer/client complaints: expression of dissatisfaction on a consumer's behalf to a responsible party a. They can be intimidating and full of tension; however, in reality they are opportunities to learn and improve your service i. Use emotional intelligence: use empathy and think from their point of view: why are they complaining? Help you understand them better and alleviate some of the tension 1. Listen carefully: stay calm and don't take it personally a. Anger will only cloud your judgment 2. Stick to the facts a. Provide statistics and evidence; be soft and calm 3. Provide a solution a. Explain and implement action plan b. Don't forget to follow up i. Prove to the customer that you really care and that you helped them solve your complaint 1. Effectively solving complaints leads to long-lasting customer relations and builds more trust 4. Learn from the feedback b. Give example of complaints and solving it

Describe the nature of customs regulations (SP)

1. Customs: the official department that administers and collects the duties levied by a government on imported or exported goods 2. Enforce restrictions to maintain integrity, protect environment, ensure security 3. Aware and in compliance 4. Connect to scenario

Participate in group discussions (CS)

1. Group discussions are a routine part of business: between coworkers on project, formal meeting, skills important a. Come prepared: understand issue, bring questions b. Active listener c. Exhibit good body language d. Don't dominate: quality over quantity i. Opportunity to further your ideas and build up on them e. Speak: polite, be confident, clearly, comfortably, respond, provide good ideas, ask helpful questions, give constructive feedback f. Thank everyone and be sure to reflect and follow up 2. Participate in discussion a. Pretend or with judge

Use data visualization techniques (e.g., infographics, linked charts, etc.) (SP)

1. Data visualization: presentation of data in pictorial or graphical format a. Allow analytics to be seen visually to make it easier to grasp difficult concepts or identify new patterns b. Visually interestingly format when presenting to audience, increase levels of audience engagement c. Suit technique to data 2. Line graph: one variable to another 3. Bar chart: compare quantities of different categories or groups 4. Pie chart: parts to a whole 5. Scatter plot: pattern among variables presented as dots on a graph 6. Infographic: integrate graphs with pictures and graphic design 7. Linked chart: change across platform 8. Area charts (3D) 9. Geographical maps 10. Timeline 11. Gantt chart to visualize project 12. Mindmap 13. Tree 14. Example in scenario: for each

Discuss the nature of debtor-creditor relationships (SP)

1. Debtor: person or business that owes money, goods, or services a. Creditor: entity to whom debt is owed b. Arrangement allows debtor to receive needed goods or services c. Creditor puts available resources to work and is paid i. Essential to economic growth 1. Encouraged and protected by law 2. Creditors more secure when lending, debtors from unfair credit and collection practices d. Voluntary or involuntary 2. Examples in scenario

Handle difficult customers (CS)

1. Difficult customers are a routine part of conducting business a. Imp: be able to handle them effectively and efficiently so as to preserve customer relations and preserve corporate image i. Repeat customers: foundation of healthy business ii. Work harder to satisfy and retain these difficult customers b. Types: angry, impatient, intimidating, talkative, demanding, indecisive i. And you should employ empathy and think from their point of view: why are they angry or indecisive? Help you understand them better and alleviate some of the tension 2. Calm down: never argue with customers and listen: make sure you understand what they want and be attentive a. Take them aside: show them you care and be sincere, use soft words and voices b. Don't blame customer or company c. Try to solve problem and determine action plan: communicate the action plan to the customer d. If not, get help from coworker or manager e. Most important: stay encouraging and stay calm f. Don't forget to follow up 3. Handle a difficult customer a. "When I was interning, we had this customer who would __"

Follow oral directions (PQ)

1. Directions are important to perform tasks accurately, safely, and efficiently; sometimes, they are given orally a. Take them seriously, pay attention to remember them 2. Listening a. Active listening: eye contact, internal monologue, eliminate distractions, look out for key points with directions and sequence words (steps and what you need to do) b. Cues: tone changes, inflections, "important," nonverbal c. Don't be afraid to ask for clarification! i. Avoid mistakes 3. Remembering a. Taking notes helps b. Paraphrase: translate into your own words that help you understand better c. Review: logical, does it make sense 4. Following a. Be careful, follow them to the word b. Move through instructions in the same method, the same way, and in the same order 5. Give example as you follow along

Apply written directions to achieve tasks (PQ)

1. Do them accurately and safely: prevent going back to fix it which will waste time and resources 2. Understand first until clear a. Reread or ask b. Sequence words: signify steps c. Don't skim d. Follow written instructions exactly in exact order written i. Take your time and go step by step e. Hit a wall, review 3. Examples is key in for this PI

Write professional e-mails (CS)

1. E-mails: routine business correspondence inside and outside a business a. Professional: reflect on you and your company, creates good relationships which can lead to more opportunities b. Can be forwarded: important that the email is respectful 2. Must have an appropriate subject line: people are busy and they don't always have time 3. Consider: audience - formal or informal a. Begin with the correct greeting i. State purpose of email—straight to the point 1. Focused message a. Include what you need and only what you need 2. Proofread: grammar, spelling, conventions ii. At the end, add closing and thank the recipient 1. Include your name, department, and company b. Be respectful, try to think about how you would like it if you received an email like this 4. Write a sample e-mail (draw a picture!)

Explain the concept of economic resources (CS)

1. Economic resource: any item that can be used to produce goods and services a. Concept imp: inputs we use to product and distribute good and services are limited and scarce, so they must be used efficiently and properly 2. Many resources a. Factors of production: land (natural; fixed), labor (human including management; flexible), and capital (monetary resources, manufactured tools and equipment) i. Some also include entrepreneurship as a resources because of its potential 3. Give many examples and what they make

Explain the types of economic systems (CS)

1. Economic system: system in which a state or nation allocates its resources and produces and exchanges goods and services a. Created to address the problem of scarcity when resources are limited but our wants are unlimited b. System determinant of how successful that country will be at satisfying citizen's wants and needs c. Four main systems i. Traditional: based on tradition, produce what they need and what has always been produced 1. Characterized by bartering ii. Command: communist and socialist 1. Government has total control, regulate price, jobs, and wages a. Unrest; no shortage of jobs 2. Soviet Union, failed iii. Free Market: decisions by individuals 1. Late 19th century lassez faire 2. Only in theory iv. Mixed: government regulations with individual choices

Determine economic utilities created by business activities (CS)

1. Economic utility: value or benefit a customer receives from the exchange; determines demand a. Five main forms of utility i. Form utility: usefulness created by altering/changing shape of a good 1. Include task utility: form utility of a service 2. Leather, plastic, fabric less value individually but more as a shoe ii. Place utility: putting product in a place where consumers can purchase it 1. New location iii. Possession utility: usefulness when ownership transferred 1. Credit 2. Layaway iv. Time utility: usefulness created when products made available at time needed 1. 24 hour services v. Information utility 1. New type with the information age that we have today 2. Created through communication 2. Give examples through each step of our business's products

Explain the impact of the law of diminishing returns (SP)

1. Law of diminishing returns: decrease in marginal output of production process as amount of a single factor of production is increased a. Concept in productivity b. Employee addition and allocation of resources i. Get in each other's way, waiting ii. Take into consideration when making business decisions c. Effectively maximize impact of resources 2. Examples in scenario

Describe the concepts of economics and economic activities (CS)

1. Economics: study of how to satisfy unlimited human wants with limited economic resources a. Indispensable in utilizing resources effectively and efficiently b. In today's age of financial globalization, economics becomes very important as businesses no longer operate isolated and by themselves c. Two branches i. Microeconomics (study of decisions and interactions within markets) 1. Example of scenario: business to microeconomic impact ii. Macroeconomics (study of our domestic and global economy) 1. Example of scenario: business to macroeconomic impact 2. As a social science, deals with the economic activities of humans a. Economic activity: anything related to the production, distribution, and consumption of a commodity i. Activities provide value ii. Buying candy to starting a business 3. Integrate examples

Discuss the nature of environmental law (SP)

1. Environmental law: the body of rules, regulations, orders, and statutes with maintenance and protection of natural environment of a country a. Basis for measuring and apportioning liability in cases of environmental crime b. Clean Air Act, Clean Water Act, Environment Protection Agency 2. Affect the functioning of a business a. Increase costs b. Regulate pollution c. Mindful to remain in compliance 3. Examples from scenario

Write executive summaries (SP)

1. Executive summary: short document or section that summarizes longer report or proposal a. Most important part of report; people who may not have time to read the entire report reads the executive summary first to know the most important and relevant information b. Last: summarize key parts into one page i. Highlight strengths and provide relevance for the report 2. Annual report: mission statement, company information, growth highlights, products/services, financial information, future plans a. Write section/examples of information

Interpret business policies to customers/clients (CS)

1. Familiar with policies in order to respond effectively and accurately to customer inquiries and needs a. Interpreting: i. Knowledge 1. Learn procedures for requests, questions, complaints a. Understand the management structure: what conditions a manager should be contacted b. Understand the reasons 2. Be able to explain policies a. Return/exchange i. Customers do want explanations ii. Clear up misunderstandings: there's a reason and not just because you're lazy 3. Simple language and avoid jargon because customers need to be able to understand them ii. Attitude 1. Confident 2. Show empathy and understanding a. Be a listener: customers frustrated and they need to vent b. Explain things to suit their point and view in order to help them develop a better understanding 2. By interpreting policies effectively, develop trust, better customer relations, and create a helpful and open image 3. Actually interpret a business policy

Explain the principles of supply and demand (CS)

1. Fundamental concepts of economics and the backbone of a market economy 2. Supply: how much the market can offer 3. Demand: how much of a good or service is desired by consumers a. Connected through a supply and demand graph (visual) b. Law of Demand: all other factors constant, price increase, quantity demanded decreases c. Law of Supply: all other factors constant, price increase, quantity supplied increases i. Such, price reflection of supply and demand ii. Equilibrium: supply equal demands 1. Surplus: supply more than demand 2. Shortage: supply less than demand 4. Consider supply and demand when manufacturing and setting prices a. As a supplier, consider time, cannot react at the same time to changes in demand i. Understand the relationships in order to forecast changes and utilize resources effectively 5. Give examples a. Seasonal business decision or decision related to demand for others or events

Explain the concept of Gross Domestic Product (GDP) (SP)

1. GDP: Gross Domestic Product, broadest quantitative measure of a nation's total economic activity a. Monetary value of all goods and service produced within a nation's orders during a fixed period (quarter or year) b. Consumer spending (durable, nondurable, services) + Government Expenditures (defense, roads, schools) + Investment (nonresidential, residential, business inventories) + Net Exports 2. Important economic indicator: economic growth and inflation a. Economic condition and changes i. Negative growth may indicate recession 3. Examples

Determine the relationship between government and business (CS)

1. Government serves as protector and regulator a. Protect i. Enforcing contracts, settling disagreements, collecting taxes b. Regulate i. Laws to prohibit certain behaviors, control business activities, and require certain standards 1. Control monopolies, product safety standards, price ceilings 2. FDA and FTC 2. Intervention in business: provide public goods, improve public welfare, protect public healthy, specific businesses, environment, encourage competition a. Businesses: pay taxes, support government spending, pay government wages, and support their communities 3. Relationship important for a healthy and functioning business environment a. Ensure fairness and opportunity for consumers and businesses alike 4. Examples!

Select and use appropriate graphic aids (CS)

1. Graphic aids, if used appropriately, can be a powerful tool to help audience comprehend and visualize your points; provides strong reinforcement a. Not effectively: they can be detrimental to the presentation b. First tenets: it doesn't distract from what you are saying (it's an aid) i. Brief and simple c. Appropriate to the situation d. Explained and cited e. Don't want it to take away from your value: difference between what you show and what you say i. If you are just reading off your slides, why do people even listen to you? They can just watch the presentation 2. Visual aids: common presentation, flipchart, whiteboard and draw it a. Sketch and drawings for plans and designs b. Photos for real world examples c. Table emphasize data without comparison d. Line graphs compare data over time e. Bar graphs compare data f. Pie charts compare percentages of item to whole 3. Actually select, use, and DEVELOP visual aid (s)

Edit and revise written work consistent with professional standards (CS)

1. Imp: having written works professional - reflect on yourself and your company, builds your credibility a. Not many people get it right the first time, editing and revising to make writing as strong as possible b. Editing: conventions like grammar and spelling c. Revising: rewriting, make content more clear and concise i. SHARP 1. Succinct 2. Honest 3. Attractive 4. Right 5. Pertinent 2. First: edit, spelling, grammar, punctuation 3. Tricks: know your audience and think from their point of view a. Revise wording, sentence structure according to them i. E. g. general less jargon b. Complies with standards i. Document references 1. Do not want to plagiarize: first, unethical, second, may lead to lawsuits 4. Let's put this into action a. Actually edit and revise something

Explain the nature of import/export law (SP)

1. Import: commodity, product, service brought from abroad for sale: foreign goods to domestic market 2. Export: sale of goods to a foreign country 3. Laws to regulate and facilitate a. License, fees, security, labor b. Customs and Border Protection c. Bridge differences in culture and ethics 4. Expand market and new opportunities a. Secure market 5. Connect to scenario

Select and utilize appropriate formats for professional writing (CS)

1. In order for written communication to be effective, it must have the appropriate format a. Three things you should know i. Your audience 1. Target: tailor your form and message ii. Your purpose 1. Organize thoughts: inform, confirm, inquire, answer, or persuade iii. Your subject 1. Combine audience and purpose: knowing your subject allows you to relate what you know to your audience 2. Many types: a. Letters: formal communication outside b. E-mail: in and out, efficient way c. Memos: internal communication in a company (replaced by emails) d. Business reports: very lengthy and complex, stockholders or directors e. Company publications: internal (policies) or external (marketing) 3. Actually select and utilize one

Describe the economic impact of inflation on business (SP)

1. Inflation: general increase in prices in an economy over time a. Reflects decline in purchasing power of money i. Each unit of currency buys fewer goods or services b. While positive: economic recovery as it benefits debtors, keeps cost of borrowing low, and encourages consumption c. Negative: hyperinflation may result in excessive growth of money supply 2. Implications for business: increase prices to adjust for inflation a. Planning uncertainty and forecasting b. Change prices: lead to "menu costs" coined for restaurant printing new menus i. Squeeze profit margins c. Inflation affects business environment and economy: i. Export slump: uncompetitive on global scale ii. Inflation stable and predictable: encourage consumer to spend, invest, stimulate business revenue

Explain how digital communications (e.g., email, text messages, chats) exposes business to risk (SP)

1. Influx of digitalization, tech dependence, brings whole new set of risks and threats a. Digital communication: transfer of ideas and information electronically i. Improves efficiency, risk exposure 2. Data theft: hack or secret, e-mail compromise: Trojan horse or virus, affinity fraud easier as internet integrates, identity theft, intellectual property violations easy (downloaded image) a. Communication fast: jokes, criticism, bad image severe and long lasting impact is viral i. Connections made instantly: large damage 3. Examples; but through proper maintenance and caution, electronic communications can help our business

Write informational messages (CS)

1. Informational message provides data, statistics, or descriptions a. Helpful: provide value for consumers and decision-makers alike, promotes brand engagement 2. Center on main ideas, avoid unnecessary information (information needed, and only information needed) a. Professional: Word choice and structure b. Accurate: Researched and verified 3. Types: letters, emails, memos, even advertisements 4. Create an informational message

Provide legitimate responses to inquiries (PQ)

1. Inquiries: act of asking for information a. Legitimate: information needed, unless we provide accurate information, the information cannot be applied accurately i. Protect reputation and image ii. Strive to serve customers best 2. Do your research a. Confirm facts i. Don't make assumptions: be honest, say you'll get back to them later ii. Follow up b. Clear and concise, clearly answer with clear structure 3. Give example of providing a legitimate response in line with scenario

Write inquiries (CS)

1. Inquiries: ask for information or sales quotes, common part of business communication a. Important to obtain the information you need accurately and efficiently 2. Letter date, address, title and department, greeting 3. Concepts a. Specific i. State your request ii. Give reference b. Appropriate i. Professional and formal c. Instructions i. Let recipient know how to properly answer inquiry 4. Closing and printed signature line 5. Can be through letter or email 6. Write an inquiry

Describe methods used to protect intellectual property (SP)

1. Intellectual property: creations of the mind, inventions, literary and artistic works, designs, symbols, names a. Strong IP portfolio i. Protected to protect company's integrity ii. Patent: inventions (prevent competitors), trademarks (words, names, symbol, sounds), copyright (original works), trade secrets 1. Attacks from inside 2. NDA/confidentiality 2. Examples in scenario

Explain the economic impact of interest-rate fluctuations (SP)

1. Interest rate: amount charged by lender to borrower for use of assets a. Expressed as percentage of the principal i. As they reflect economic conditions and supply and demand, they do fluctuate 2. Affect spending a. Less interest: more money to spend, spend instead of save, consumer spending increases b. Business expansion: equipment and investments i. Output and productivity c. High: save i. Fewer loans ii. Slower productivity d. Psychological: borrowing and business 3. Federal funds rate: Federal Reserve controls interest rates in order to control inflation and growth a. Raise: lessen demand and make inflation fall 4. Capital market a. Bonds rates and stocks i. Company profits and governments 5. Examples

Describe the United States' judicial system (SP)

1. Judicial system: network of courts at all levels of government that interpret, apply, and administer laws 2. US Supreme Court: head of the judicial system and the highest court with nine justices a. Final interpretation of the US Constitutional law b. Review cases that made their way from state and federal courts 3. State courts: common law a. Cases start from trial courts of limited jurisdiction (specific cases) and general jurisdiction b. Not happy; take case to the state appellate courts c. State supreme court i. US supreme court 4. Federal courts: constitutional law a. District courts of original jurisdiction b. 13 US Circuit Courts of Appeal: handle cases in their district c. US Supreme Court 5. Judicial system diagram

Describe the nature of legal procedure (SP)

1. Legal procedure: methods and mechanics of legal proceedings a. Procedural law: set of rules governing all aspects of how a court case is conducted i. Certain that every case treated justly and consistently ii. Use due process 1. Legal rights to fair trial 2. Notification of lawsuit 3. Opportunity to defend and present evidence 4. Represented by counsel 5. Cross-examine witness iii. Protection against vague laws; protect legal rights

Explain the role of business in society (CS)

1. Major role in economic condition and advancement of country a. Strong private section key part of all developed countries and is a cornerstone for prosperity b. Generalized as three major roles i. Supporting daily life 1. Supply goods and services we cannot produce ourselves 2. Develop new services, processes 3. Pay taxes for society and government spending ii. Providing employment 1. Jobs enable people to support themselves and families a. Paying them, lead to the reintroduction of wealth into society iii. Adding value to society 1. Invest in new technologies and skills 2. Social responsibility: spread standards of environment and workplace safety 3. Lend their support to worthy causes 2. Integrate scenario and give examples

Participate in problem-solving groups (CS)

1. Many problems in businesses: problem solving important skill a. Problems can be huge: develop the best solution and solve problem effectively and efficiently 2. Solve immediate problem 3. Solve long range problem: reduce likelihood and find cause, develop solution and implement it now to prevent that problem 4. Ways a. Team i. More criteria, more analysis, and more potential options and creativity b. SWOT analysis i. Strengths to build on, weaknesses to fix, recognize opportunities for growth and expansion, identify threats and develop a way to combat them 5. IDEAL (solve sample problem along the way) a. Identify problem (what it is) b. Define (details, root to solve) i. Losing customers or high price c. Examine options i. Survey market, focus group, brainstorm, as many solutions d. Action plan i. Most advantages, least disadvantages ii. Plan out and implement with objectives e. Look at consequences i. Evaluate, benchmarks and feedback 1. Effectiveness overall and assist in future decision-making (what worked, what didn't) 6. Integrate example

Defend ideas objectively (CS)

1. Many situations where you need to defend your ideas a. Meeting, discussion, negotiation b. Objective; without being defensive i. Assertive c. Maintain good relationship d. Effective: more likely to believe you 2. Be prepared for criticism or concerns a. Use statistics and facts b. Be patient and keep your cool 3. Actually defend an idea a. Find an idea relevant to scenario and defend that i. Ask judge to respond

Demonstrate active listening skills (PQ)

1. Most fundamental component of interpersonal communication skills a. Understand others better, communicate effectively i. Retain important knowledge b. Participate i. Identify the purpose and look for structure ii. Evaluate from both points of view iii. Nonverbal 1. Smile, eye contact, posture, nod 2. Look for their nonverbal too a. May convey something they are not telling you 3. Be respectful: don't interrupt or be distracted iv. Empathetic: Evaluate message from their point of view 1. Why are they telling you this? a. Identify purpose and importance c. Remember i. Note-taking ii. Go over the details d. Clarify i. Ask questions ii. Ensure message is correct e. Reflect i. Paraphrase ii. Reinforce the message iii. Transfer information into knowledge: combine what you remember and what you feel 1. Not just take in, understand f. Demonstrate it - actually go over this as you talk i. Ask judge to say something

Employ communication styles appropriate to target audience (CS)

1. Most important considerations in communication is your target audience a. Be more effective and efficient: needs to persuade, what they want to know to inform 2. Self-aware: what is your style a. Helps you know find what you need to change 3. Identify audience a. How important is your message? b. What does your audience need? c. What obstacles to overcome? d. Benefits? e. How will your audience use your information? 4. Format, detailed, channel a. What style best responds to i. Formal, online, verbal and written, etc. b. Appropriate language and terminology 5. Actually determine an appropriate communication style

Utilize note-taking strategies (CS)

1. Note-taking powerful skill to have: helps you focus on main points, structure the information, understand the information, and allows you to review the information a. Business meetings 2. Effective note-taking: ineffective note-taking is time-consuming and may be distracting or misleading 3. Accuracy, integrity, and efficiency of this process: important to have effective note-taking strategies 4. Three steps a. Organize i. Have a place to put notes so you can find them; central depository ii. Be consistent iii. Think about what you want to know b. Record i. Active listening ii. Sequence words: points, cues iii. Minimize distractions iv. Main ideas and key concepts v. Abbreviations c. Review i. Questions: ask ii. Organize more 1. What worked, what didn't iii. Refer back for information 5. Utilize these strategies: follow along with one example

Make oral presentations (SP)

1. Oral presentation: refers to delivering an address to a public audience a. Audience major consideration: engage them in order to communicate effectively i. Content: clear structure, support visual aids 1. Humor 2. Clear and concise with points: examples, evidence, explanation or context ii. Articulation: poise, speech skills that allow you to draw the audience in and keep them engaged 1. Tone, volume, eye contact, gestures, transitional movement 2. Diction b. Empathy, take a step back to consider these points from the audience's perspective i. Diversity 2. Make presentation/scenario

Explain the organizational design of businesses (SP)

1. Organizational design: how management achieves differentiation and integration of organization's operations a. Differentiation is achieved through the subdivision of departmental units b. Untegration through linking departments to achieve unity and meet common objectives 2. Such, defines hierarchy, identifies job, function, chain of command 3. Size: large differentiation, small integration 4. Type a. Traditional: bureaucratic i. Defined, unity of command, specialization ii. Functional (business functions), product (product type, specialization, create completely unique processes), market (customer type, hospital, specializes in needs of customer, products adapted to suit), geography (regions) b. Matrix; highly specialized, human resources shared between departments i. Unity of command often not achieved ii. Effective use of resources, flexible, promotes communication and integration 5. Link to scenario

Organize information (CS)

1. Organize information: arrange information in way that it can be used more effectively a. This means arranging information in a logical, clear, and useful way 2. One way is LATCH: location (geographical map), alphabet (glossary), time (timeline), category (classifying), and hierarchy (importance) 3. After steps, choose way a. Inventory: what information do you need? What information do you have? What can you do? b. Chunk: categorize them, make sure information is retrievable c. Review: make sure logical, no fallacies, everything makes sense i. Go back and do more research or review 4. Ways: word, excel, clouds, or hard-copy in folders and binders 5. Actually organize information: find scenario information and organize it

Explain the concept of organized labor and business (SP)

1. Organized labor: unions, association of workers united as a single, representative entity for the purpose of improving workers' economic status and working conditions through collective bargaining with employers a. Craft/trade union: share common skills b. Industrial union: same industry c. AFL-CIO, National Labor Relations Board 2. Powerful force a. Collective bargaining: negotiation with employers engaged in by organized labor b. Strikes, picketing, boycotts by union members; lockout, injunctions, strikebreakers by management 3. Workers: fair treatment, protection, benefits a. Union dues, support decisions, endure during strikes 4. Business: increased cost and benefits, limited control in personnel, loss of production in strike a. Wage security, working conditions, have unions assist in recruiting and training employees

Write persuasive messages (SP)

1. Persuasive message: type of communication intended to convince the audience to take action through reasoning or argument a. Powerful campaigns sway decisions and build crucial relationships b. Sales and marketing: request for action 2. AIDA build-up a. Awareness: free samples, emails b. Interest: benefits, emphasize consumer c. Desire: strong want, focus on consumer i. Back up with data and examples d. Action: sense of urgency to take action 3. Profession with positive tone a. I'd really like to emphasize the importance of an audience: tailor our message to suit them in order for the message to be most effective

Analyze company resources to ascertain policies and procedures (CS)

1. Policies are general and simple; procedures are detailed instructions on how to perform tasks a. Policy is the rule, procedure is the action 2. Business world changes, policies and procedures reflect that 3. Make sure policies and procedures done right 4. Establish a. Employees provide insight i. Work with policies, what change what same b. Past experiences with customer complaints or comments 5. Implement a. Identify weaknesses or overlaps b. Opinions and input c. Follow up with changes and revisions d. Employee: don't understand i. Look in the employee handbook ii. Ask 6. Communication is key a. Every aware, and how to work b. Clear up misunderstandings and create harmonious work environment for everyone involved 7. Examples examples examples a. Analyze resources

Describe the functions of prices in markets (CS)

1. Price: value placed on good or service a. Both a reflection of supply and demand and a factor of supply and demand; price too high, demand decline, low, demand increase i. Factors in seeking equilibrium b. All in all, three functions i. Signaling 1. Adjust to show demand 2. Reflect scarcities and surpluses a. Rising because of demand, expand production 3. Consumers information producers about their needs and wants through the prices they set 4. High prices: provide incentive for conducting business ii. Rationing 1. Scarce resources: only those who are willing or able to pay will purchase a product 2. Understanding of price will allow us to develop a competitive edge: many customers use price as a gauge to make judgments a. Be able to set price at a level high enough to bring profit yet also low enough to attract customers 3. Give examples

Explain the concept of private enterprise (CS)

1. Private enterprise: business or industry that is managed by independent companies or individuals rather than by the state a. Also known as capitalism or free market system b. Three basic questions: what goods provided, how, and by whom i. All answered by individuals 2. Characteristics a. Freedom of choice i. Choose what to buy and produce ii. Set goals and choose work b. Competition c. Profit motive d. Prices affect demand and profit i. And companies respond to these market conditions 3. Examples; integrate scenario

Explain the concept of productivity (CS)

1. Productivity: economic measure of output per input a. Ratio of outputs to inputs b. Input: labor, land, capital; output: categories of the GDP 2. Vital to growth and success a. Because allow one to accomplish more with less; maximize impact of scarce resources i. Satisfying more human needs ii. More output and larger GDP iii. Efficiently grow the economy and raise standards of living 1. Deeper pool of tax revenue for social services and infrastructure b. Business: high productivity higher efficiency higher profits i. More working capital and competitive capacity ii. Ways: investing in new equipment and technological, managing logistics and supply chain, increase skill levels 3. Integrate into example

Ask relevant questions (PQ)

1. Questions: is a powerful tool, clear up misunderstandings, asking bad questions will instead create more misunderstanding and confusion a. Good question: relevant to topic in order to allow the speaker to elaborate and effectively answer your question 2. Explain your misunderstanding: give context a. What you know b. What you don't know i. Clear and understandable ii. Facts and figures iii. The more specific the better c. Be confident, brave, calm, and open d. If you can, research first e. Think about the answer f. Feel free to ask again

Develop rapport with customers (CS)

1. Rapport: close and harmonious relationship we have with our customers a. all about highlighting common interests and establishing a mutual feeling of friendliness and trust 2. Very important tool in developing strong customer relations and maintaining a business's reputation a. Three main areas of developing rapport: i. Value your customer 1. Demonstrate through actions a. Smile, use their name, be welcoming and open, be respectful, being punctual b. Use empathy: be adaptable and put yourself in their shoes in order to understand them and think about what they would want you to do c. Interest in their well-being ii. Develop trust 1. Be consistent in your actions a. Fulfill your promises i. Show your commitment b. Consistently valuing them iii. Practice reciprocity 1. Follow-up with your customers and end strong a. Leads to repeat customers and more business b. They will remember you and do the same thing you did for them, for you 3. Give examples

Reinforce service orientation through communication (CS)

1. Service orientation: ability and desire to anticipate, recognize, and meet others' needs a. Most powerful tool in reinforcing service orientation is communication: the way you communicate directly shows how much you care about customer service i. Basics: polite, friendly, and respectful ii. Be accurate iii. Empathy: be adaptable and put yourself in their shoes in order to understand them and think about what they would want you to do 1. Help you identify their real desires and needs a. Helps you focus on improving the level of service you provide b. To reinforce overall service orientation: communicate between employees as well to follow up and see what's effective and what's not i. May want to post basic guidelines in order to standardize the level of service you provide 1. E. g. trademark greeting, creative way of dealing with issues, unique customer rewards 2. Demonstrate it through examples

Explain communication techniques that support and encourage a speaker (PQ)

1. Show respect when others are talking and to understand the speaker also very important concepts in facilitating communication a. Hard; employ communication techniques to support and encourage them as much as possible b. Apply empathy - How would you like it if you were talking about something you feel strongly about and someone's just ignoring you? Emotional awareness 2. Verbal a. Ask questions b. Don't interrupt - let them finish their sentence c. If appropriate, give feedback and maintain a discussion d. Be enthusiastic e. Don't dominate 3. Nonverbal Actions a. Don't be distracted - put your phone away, eliminate any other distractions b. Take notes - shows that you are going to use it in the future, and that you think that information is useful c. Posture: open, inviting (straight, forward) d. Be aware of facial: smile, nod, use appropriate eye contact 4. Demonstrate!

Identify the impact of small business/entrepreneurship on market economies (CS)

1. Small business: business with 500 employees or less; huge impact on market economies a. Create jobs, growth, and innovation i. Provide employment opportunities to those that may not qualify for large companies ii. Attract talent with entrepreneurship iii. Large businesses often outsource their jobs to these small businesses b. Customer-oriented: stay afloat during hard times and strengthen the local economy 2. Entrepreneurs: create own business out of a vision a. Add to national income, create social change, and promote community development 3. More examples

Describe the impact of a person's social media brand on the achievement of organizational objectives (CS)

1. Social media brand: brand image on apps like Facebook, Instagram, or Snapchat 2. Organizational objective: overall goals, purpose, and mission of business 3. Might not seem clear, personal social media brand can have strong impact on organizational objectives a. Impact of a person: Instagram partying and drinking on the job, business negative image i. Maybe you offend someone online, but that person ends up to be your new business partner b. Valuable: promote content, how fun working is, or how new product is amazing c. Impact of a person's objectives: employers check employee's social media i. Positive light: working and volunteering 4. Social media can be a powerful tool for communication a. Personal often be internal communication within business 5. Give examples

Analyze impact of specialization/division of labor on productivity (SP)

1. Specialization of labor: concept that allows individual workers to focus on tasks a. Encourage efficiency and increase productivity b. Reduces transition time and allows higher production when employees occupy specialized roles tailored to their strengths and skills i. Highly quality products: use the best skills ii. Lower prices: simplification of employee training and simplification of job process itself 2. Examples in scenario

Explain the nature of staff communication (CS)

1. Staff communication: exchange of information between employees a. Imperative: facilitates dialogue, sharing information is essential to success and functioning of a business i. Make plans, collaborate, conduct sales, execute decisions ii. Many channels: email, chat, in-person, telephone 2. Five types of communication (draw a diagram to visualize!) a. Upward/vertical: lower level to upper level, employee give reports of progress and problems to managers who then rely on this information to create solutions b. Downward/vertical: upper level to lower level, inform, direct, coordinate, evaluate c. Horizontal/lateral: same or similar level, collaboration d. Diagonal: across work areas and organizational levels i. Essential to integration of information and the big picture 1. Marketing to logistics e. Grapevine: information, word-of-mouth and casual conversation 3. Integrate examples

Participate in a staff meeting (CS)

1. Staff meeting: meeting by staff of a company to discuss issues related to the running of the company, or department a. Can be informational, motivational, creative, or a simply a discussion 2. For employee, chance to be noticed and may lead to greater opportunities a. Further company's objectives, find new ideas and innovations, build employee morale 3. Be prepared, think before you disagree (respect), contribute with questions, comments, support, timing, don't dominate, build up a. Notes and follow-up 4. Integrate example

Describe the nature of taxes (SP)

1. Tax: payments collected by the government to fund government programs and activities a. Direct: to government i. Income tax ii. Property tax: local governments, land and buildings iii. Estate tax: inheritances b. Indirect i. Sales tax: increases price of good you pay 2. Support government spending and local community a. Initiatives like education, police and fire department to paying off national debt, supporting army 3. Examples in scenario

Discuss the global environment in which businesses operate (SP)

1. Tech advances, integration, globalization: integration, business no longer operate in local context, international a. Rely on resource beyond borders of the US to be competitive, economic integration dependence on foreign trade products 2. Outsourcing, offshoring a. Identifying opportunities: research efforts, amend domestic sales b. Comprehend business environment: political, culture, legal, geography i. Trade barriers: quotas, tariffs, embargoes ii. Laws, taxes, cultures in order to conduct business efficiently 3. Examples in scenario

Handle telephone calls in a businesslike manner (CS)

1. Telephone calls routine part of business a. Professionally: convey that you are trustworthy, project good image for company, build relationships 2. Many ways a. Cell phone vs. office phone: who? b. Prompt - answer quickly c. Customer: Answer warmly and enthusiastically, provide your name, position, and company i. How may I help you? ii. No body language on phone - tone really important iii. Active listening - build rapport than you are understanding 1. Take notes iv. Use name - make customers feel valued v. Be assertive vi. Emphasize vii. Be position viii. Don't interrupt d. Colleague: purpose, professional 3. Weave demonstration through this a. Actually call a customer/or the judge

Discuss the impact of a nation's unemployment rates (SP)

1. Unemployment rate: percentage of total labor force that are unemployed but actively seeking employment a. Key indicator of current health of economy 2. Cyclical: business cycle, frictional: transition, structural: technological, mismatch of jobs and skills 3. Financial costs: benefits and increased taxes, lost income, decreased production 4. Consumer spending a. Employed: increase taxes and insecurity about own work b. Unemployed: don't have enough resources i. Rather save than spend 5. Decrease in standard of living, poverty, indicate recession a. Ripple effect 6. Unemployment rate decreases: more opportunities, economic growth a. However, also people stop finding jobs 7. Examples

Distinguish between using social media for business and personal purposes (CS)

1. Use chart as visual aid 2. Social media powerful tool for professional development: distinguish between personal and business a. Don't want personal things public; want to tailor your image to your business and what you represent 3. Site: business shouldn't be on tinder, Facebook, LinkedIn, twitter with traffic to gain exposure 4. Pictures: smart, business profile picture is your brand image and should not change often 5. Post: keep in mind your audience, everyone can see it so be positive and accepting 6. Terminology: businesses want to be professional 7. Hashtags: help people find small businesses 8. Images: marketing, product demos 9. Analytics: not for personal, way to collect data about website or Facebook a. Pertinent for successful social media campaign i. Who, where, when, what - find target customer and what aspects to focus on ii. Facebook Insights 10. Weave in examples

Distinguish between economic goods and services (CS)

1. Use table as visual 2. Economic goods and services that can be sold and command a price 3. Economic resources of land, labor, and capital produce goods and services 4. Service a. Intangible b. Requires interaction with customer c. Heterogeneous: vary d. More perishable 5. Good a. Tangible and physical b. Produced in facility separate from customer c. Goods are more specific 6. Distinguish between goods and services: give examples (ie: toys vs. car wash)

Explain the nature of effective verbal communications (PQ)

1. Verbal communication: transfer of ideas and information through words a. Interpersonal communication i. "What we're doing right now" ii. Between people iii. Exchange taking place iv. Imp: making first impression, consider the situation and what you want to convey b. Public speaking i. Formal version, speaking to people ii. Take more care than interpersonal communication 1. Considerations: knowing your audience and purpose and visual aids c. Skills to apply to both i. Who, what, when, where, why 1. Customer vs. manager (jargon), describe favorite book vs. selling a product, five o'clock in the morning vs. after noon, business vs. family potluck, persuade vs. inform (use statistics) a. Language, tone, structure b. Integrate scenario into this part ii. Use everyday, whether we realize or not iii. Without etiquette, may be disrespectful iv. Improve effectiveness 1. Convey more efficiently, accurately 2. Develop relationships, convey feelings, become more assertive a. Important in the business world d. Integrate examples

Give verbal directions (PQ)

1. Verbal directions: instructions given through spoken words rather than through written a. Helpful: efficient, quick, allows for questions to be answered quickly and exchange of ideas to occur 2. Make you that you are clear a. Technically i. Enunciate ii. Good volume and good pace iii. Make eye contact and employ an appropriate amount of gestures iv. Tone b. Idealistically i. Structure ii. Information in chunks 1. Don't overwhelm 2. E. g. fix something, better not to tell how to fix everything iii. Positive language: "put the clock there" instead of "do not put the chair there" iv. Employ sequence words like first, second, third to help people comprehend and follow along with your instructions c. Ask questions and make sure that your audience understands you 3. Actually give directions a. Integrate into scenario b. "I used to do this at my old. . ."

Explain the nature of effective written communications (CS)

1. Written communication: most common form of business communication a. Types: reports, instructions, advertising, email used daily i. Convey message accurately and efficiently 1. Allows employees to refer back to ii. Audience, purpose, subject 2. Be professional: use proper grammar, correct spelling, appropriate adjectives and adverbs, be clear and concise a. Know your audience i. Help you use the right format 1. Think about visuals aids or audio aids 2. Memo 3. What software 3. Give examples

Adapt written correspondence to targeted audiences (SP)

1. Written correspondence: exchange of ideas and information through text a. Identify audience b. Audience: convey message clearly and effectively i. 5 Ws ii. General or specific iii. Type: persuasive, informational iv. Channel v. Content: appealing, structure, tone vi. Format c. Proofread and adapt again 2. Example from scenario through 5W analysis

Prepare simple written reports (SP)

1. Written report: informational work made with the intention of relaying information or recounting events in presentable form a. Memo, email, report i. Audience 1. Purpose, research or collect data, proofread 2. Format, visual aids or support a. Examples and statistics b. Reports: memo, title page, executive summary, table of contents, introduction, conclusion, recommendations, findings and discussion, references, appendices c. Appropriate to situation and audience: professional and easy to read through use of words and word choice