DECA Business Law & Ethics Performance Indicators

Effectiveness of written communications

Effective written communications require some basic considerations: knowing your audience, knowing your purpose, and knowing your subject.

Participate in Group Discussions

-maintain eye contact-friendly-let other finish what they are saying-take care of body language and cues-exchange your views confidently when an opportunity comes to you-disagree politely-use simple vocab, no jargon, short and concise1. PrepareIf you know what the topic of the discussion will be, there is a lot you can do to prepare in advance. You can read round the topic to make sure you are aware of the main issues and arguments, and spend some time deciding what your own position is. If you can find any English-language audio or TV materials about the topic, make sure you watch it! You can also do some vocabulary research around the topic so that you can talk about it confidently. Make a list of the nouns, verbs and adjectives that you think will be useful and practise their pronunciation. A lot of online dictionaries have pronunciation help.2. ListenAn effective discussion is one in which people listen to each other. Listening is a very important discussion skill: make sure you listen and respond to what other people have to say. A good discussion is one in which people share and talk about different opinions and viewpoints. It's not a competition!3. Don't dominateMany people make the mistake of thinking that in order to be effective in a discussion, they have to speak a lot. In fact, this isn't the case. In discussions, quality is more important than quantity: in other words, what you say is often much more important than how much you say. If you give other people a chance to say what they think, and then respond with a polite, intelligent comment which you are able to back up, you will gain the respect of your colleagues.4. Back up your pointsIf you make a point in a discussion, you may be asked to explain or support it. You can do this in a number of ways: by providing facts or statistics to support your idea; by quoting expert opinion; by referring to your own experience or simply by explaining why you said what you said. But make sure you are prepared to support what you say, and try to avoid making 'empty' points.5. Learn some useful phrasesThere are lots of useful phrases that you can use in discussions. Here are just a few of them:o Agreeing: You're absolutely right about that.o Disagreeing: I'm sorry, I don't see it that way at all.o Interrupting: Sorry, do you mind if I say something here?o Dealing with interruptions: Could I just finish what I'm saying?o Asking for an explanation: Would you mind telling us what exactly you mean by that?o Asking for more information: Would you mind saying a little bit more about that?o Adding more information: Another point I'd like to make is... There are many more phrases you can learn and use to help you feel more confident in discussions.6. Be politeThe words argue and discuss in English have different meanings. People may get angry and behave rudely or shout or get aggressive in an argument. In a discussion, especially one with colleagues, it's important to stay calm and be polite, even if you feel strongly about the topic under discussion. Using words like please, thank you, I'd like to... May I...? Would you mind...? Could you...? Make you sound polite and respectful.7. Take / make notesIt's a good idea to have a pen and paper handy. You can jot down any useful or important words or ideas that might come in handy later in the discussion - or afterwards.8. Speak clearlyMost people are happy to forgive a few grammar mistakes when they are talking to a foreigner. However, they have much less patience when they can't understand someone because they are talking far too quickly, or much too slowly, or when they have poor pronunciation. So, practise your pronunciation and speak clearly and confidently. If you need time to collect your thoughts, you could say something like Hmmm... just let me have a minute to think about this. Or you could say Could you just repeat that please? to get a bit more time to think.9. Relax!Remember, a discussion is not a competition: it's an opportunity to share ideas in a positive environment. If you are relaxed, you will be more likely to feel confident and enjoy the discussion - and the best way to make sure you are relaxed in a discussion is to prepare for it! Preparing for a discussion can make the discussion a lot easier. You'll be able to spend less time trying to think of vocabulary and ideas, and more time listening to others and participating in the discussion. Speak slowly and clearly, don't worry too much about little grammar mistakes, and remember to listen and respond to other people.

Identify the basic torts relating to business enterprises

Business torts: civil wrongs committed by or against an organization - involve harm done to the organization's intangible assets (business relationships with clients, intellectual property) Tort of misrepresentation: one party intentionally falsifies a material fact to induce another party to perform/refrain from performing in a certain manner- Embezzling company assets, falsifying financial statements, forging work hours Fiduciary: party charged with acting in another party's best interests If an officer engages in insider trading - guilty of breaching fiduciary duties to the corporation's shareholders.

Determine ways of reinforcing the company's image through employee performance.

Employees should know their company's mission and vision an work in a way that demonstrates these.

Explain the concept of Gross Domestic Product (GDP).

GDP is a measure of the total dollar value of all of the goods and services provided by a country over a year It is important because it shows if the economy is relatively bad or good. http://www.investopedia.com/ask/answers/199.asp

Explain the concept of competition.

It makes customer service better It gives businesses and individuals a reason to be innovative It identifies the strengths and weaknesses of companies It gives consumers the best good/service for the lowest price http://businessgross.com/2013/01/21/business-competition/

Comply with the spirit and intent of laws and regulations (BL:163) (CS)

Law is a body of rules prescribed by a controlling authority (government) with binding legal force. The law consists of rules that regulate the conduct of individuals, businesses, and other organizations within societies. The law is intended to protect people against unwanted interference from others. In the United States, there are 8 main sources of law and regulations.

Describe the nature of cash flow statements.

Measure how much money is coming into and going out of a business Shows the business how much profit they are making and shows them where they may need to cut spending to make a higher profit http://www.investopedia.com/articles/04/033104.asp

Describe methods used to protect intellectual property

Patents, trademarks, trade secrets, and copyrights

Discuss the measure of consumer spending as an economic indicator.

People decide to spend money, usually, when the economy is good (they have money to spend), and they save money when the economy is bad. http://www.defuncteconomist.com/?p=340

Explain the concept of economic resources.

Resources are finite things that companies need to run their business. They incude: Natural resources (land, water, oil, etc.) Human resources (workers) Capital (money, machines, and goods) http://www.tutor2u.net/economics/revision-notes/as-markets-economic-resources.html

Effectiveness of verbal communications

Showing respect, knowing the purpose of why you are speaking, using your voice effectively, using enumeration where appropriate, and providing examples.

Identify a company's brand promise.

Statement made to customers to identify what they should expect out of a product/service Also called a slogan (Save Money. Live Better. Walmart) http://www.brandingstrategyinsider.com/brand-promise

Explain the nature of balance sheets.

Summarizes a company's assets, liabilities, and shareholders' equity at a certain point in time Allow investors to see what the business owns, what it owes, and how much was invested in the company by shareholders http://www.investopedia.com/terms/b/balancesheet.asp

Customer-service mindset

The belief that providing customers with excellent service should be a business's top priority

Explain the impact of the law of diminishing returns.

The law of diminishing returns states that no matter how much time, human, and capital resources are put into machine for example, there is only a certain amount more of money that the machine will make the company. Businesses should keep the law of diminishing returns in mind so that they do not waste resources on something with a low return rate http://www.thefreedictionary.com/law+of+diminishing+returns

Nature of Agency Relationships

The legal relationship between two or more persons, where Person 1 (the principal) provides Person 2 (the agent) with the authority to act on Person 1's behalf and in a manner that promotes Person 1's best interests (known as fiduciary duties). The relationship between a client and an agent usually arises by an express agreeement, wherein the client conferes authority upon the agent to act for him or her in dealing with third parties in exchange for a fee.

Explain marketing and its importance in a global economy.

To remain competitive, companies must often market their product to the entire world, instead of just a small group The product, price, placement, or promotion of a product or service will vary across the world By marketing globally, companies like Coca-Cola and Starbucks are known and trusted worldwide https://www.boundless.com/marketing/an-overview-of-marketing/importance-of-marketing/the-global-economy/

develop rapport with customers

mutual friendliness,trust,interest in well being,customer preferences

Handle difficult customers, and customer complaints.

Be patient and put the customer first. Listen first to the customer and empathize with their position/complaint, restate their problem and go about solving the issue or providing the customer with someone who can solve the issue. https://www.helpscout.net/blog/customer-complaints/

Explain types of investments.

Bonds: by purchasing a bond, you are lending money to a company or business—in return the company or government will eventually pay you back Stocks: by purchasing stock, you are essentially buying a piece of the company, so you can vote as a shareholder and say what the company can or cannot do Mutual funds: a collection of stocks and bonds that is held by a group of people. By investing in a mutual fund you are sharing in your part of the risk and your part of the reward http://www.investopedia.com/university/beginner/beginner5.asp

Discuss the nature of law and sources of law in the United States.

CONSTITUTIONS (A charter that establishes the government and the rules under which the government must run. Everything in the constitution must be followed), STATUES (Federal acts or laws enacted in all 50 states), REGULATIONS (Provides the rules for how a law will be applied and enforced), and CASES (Legislatures may write broad statutes and allow judges to interpret the meanings of the laws).

Identify desirable personality traits that are important to business.

Creative—you have to think outside of the box so that you're ahead of what everyone else is doing Dependable—do what you say you will do so that others will respect your word Compassionate—in business, you have to deal with a lot of people, and they will respect you more if you are compassionate Enthusiastic—having the right attitude will help you to be the best Motivated—being self-motivated makes you more effective Curious—curiosity may lead to great innovations Resilient—you have to accept that you will fail, and you can let those failures make you better Confident—do not be obnoxious or arrogant but believe in what you are saying http://www.businessinsurance.org/8-personality-traits-of-effective-business-people/

Nature of customer relationship management

Customer relationship management involves finding customers and keeping them satisfied through a variety of means. Customer relationship software is often used to record all contacts (verbal & written) made with the customer, attempted & successful contacts, and notes/follow-up, etc. so that all salespeople can keep with all customers and their relationship/history with the company.

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

Data visualization is the easiest way to understand data. Instead of looking at data on a report, it is much easier to look at data on an infographic, chart, or table that is easy to read. For example, you can use a graph for profit, a pie chart for budget, etc.

Explain the employee's role in expense control.

Employees have a big impact on how much money their business spends. They should: Help the company save when travelling (if applicable) Control the energy costs by turning of lights and putting their computers to sleep Not waste office supplies Take care of what they use (desks, break room, etc.) Keep their printing to a minimum Accept temporary reduced work hours http://smallbusiness.chron.com/can-staff-decrease-expenses-company-15414.html

Explain the principles of supply and demand.

If there is a large quantity of an item and a low demand for the item, prices will be lower. (Think pencils) If there is a low quantity of an item and high demand for the item, prices will be high. (Think diamonds) http://www.ehow.com/how_8185693_explain-law-supply-demand-kids.html

Describe health and safety regulations in business.

OHSA (The Occupational Safety and Health Administration) is a government agency that tries to make sure that workplaces in America are safe Businesses are required to provide their employees with consistent protection from harm http://smallbusiness.chron.com/osha-employee-health-safety-regulations-2646.html

Describe the marketing functions.

The 7 marketing functions are: Distribution Financing Marketing Information Management Pricing Product and Service Management Promotion Selling

Explain the nature of overhead costs.

The term for all of the expenses for which a business must pay on an on-going basis to keep their business running, not including the cost of materials, labor, or third-party expenses. Ex. Rent, utilities, insurance. http://www.investopedia.com/terms/o/overhead.asp

Nature of staff communications

exchanging information for your company's success allowing you to communicate with employees and customers

Employ communication styles appropriate to target audience

- if youth internet, social media, -older- literary materials newspaper etc- 1 identify target audience 2 analyze message you want to communicate 3 calculate the cost 4 choose interactive channels if you want to monitor feedback

Provide legitimate responses to inquiries

-answer in a professional, friendly voice and state your role and companyListen carefully to what they have to sayUse your knowledge, if unknown know when to escalateThank them for their time-gently take control of the conversation, keeping answers concise and focused on your product/service

Edit and revise written work consistent with professional standards

-consider after reading: is my purpose clear? Have I considered the questions and concerns of my audience? Have I written in a appropriate format? Have I included sufficient examples and supporting details?-examine as a writer: that your intro and conclusion are appropriate, that your paragraphs flow and are organized-after, check for run on sentences, overused words, spelling and typos

Utilize note-taking strategies

-don't record everything, listen for key points-ask instructor to slow down if necessary-seek further resources later on, as you cannot take notes on everything, or speak with instructor laterAsk yourself= what are the main points? What is informative? What is analytical? What is the lecturer's opinion

Write business letters

-font such as arial or times new roman,, block paragraphing, -include company info such as name and address -date -add the recipients info= full name, title, company name, address -salutation -tone should be brief and professional-dive straight into business, simple and short-be courteous-formal closing, "sincerely", signature, name, title, contact info-enclosures if necessary Write informational messages (CS)-know your topic well, consider your audience and your format-keep it short and simple-provide detail on topic-be open to questions-avoid errors

Choose appropriate channel for workplace communication

-formal communication channel= transmits organizational information, such as goals or policies and procedures. Messages in a formal communication channel follow a chain of command. This means that information flows from a manager to an employee. Examples of formal communication channels are newsletters, business plans, annual reports and employer manuals. Informal=fall outside of the formal chain of command structure. Examples of informal communication channels are quality circles, teamwork and lunchtime in the cafeteria of an organization. Employees can still receive important organizational information but in a relaxed, informal atmosphere Also, channels could be talked about as: Upwards, Downwards, Lateral, Horizontal Up=bottom level staff up to management

Make Oral Presentations

-make sure you are well prepared, know your content-watch language, keep it simple, emphasizing the key points by repeating them with different phrasing-voice clear, words pronounced clearly-don't rush, speak slowly an dloudly-good body language, stand up straight-interact with audience, have questions and points for discussion ready for them-open to questions, check if they are with you "Does that maek sense"

Select and utilize appropriate formats for professional writing

-many types of business writing formats, advertisements, emails, snail mail, manual writing, recommendations, proposals, papers, summaries, memo, business letters FORMAL OR INFORMAL? Memo: short documents that normally communicate basic info, such as deadlines within an individual office or company, can be informal Business Letters: formal documents, can be used to apply for jobs or deliver information, should be constructed in standard letter format : date, address, salutation, body paragraphs and closing, communicate the bottom line in a concise manner Business plan: Define the work of an individual business or how it will operate, can also be a tool to request funding Business proposal: documents that present an idea or service as a solution for an identified problem, first define the problem and then explain your proposed solution

Give verbal directions

-tell them what you want them to do-watch them do it-correct them if they did something wrong-give further instructions

Write inquiries

1. Address 2. Date 3. Opening greeting 4. Reason for writing 5. Questions asking for specific info 6. Request for extra info 7. Closing: request for a quick answer 8. Closing: greeting and signature

Active Listening

1. Face the speaker. Sit up straight or lean forward slightly to show your attentiveness through body language.2. Maintain eye contact.3. Minimize external distractions.4. Respond appropriately to show that you understand. Murmur ("uh-huh" and "um-hmm") and nod. Raise your eyebrows. Say words such as "Really," "Interesting," as well as more direct prompts: "What did you do then?" and "What did she say?"5. Focus solely on what the speaker is saying.6. Minimize internal distractions.7. Keep an open mind.8. Avoid letting the speaker know how you handled a similar situation.9. Even if the speaker is launching a complaint against you, wait until they finish to defend yourself. The speaker will feel as though their point had been made. They won't feel the need to repeat it, and you'll know the whole argument before you respond. Research shows that, on average, we can hear four times faster than we can talk, so we have the ability to sort ideas as they come in...and be ready for more.10. Engage yourself. Ask questions for clarification, but, once again, wait until the speaker has finished. That way, you won't interrupt their train of thought. After you ask questions, paraphrase their point to make sure you didn't misunderstand. Start with: "So you're saying..."

Organize information

1. Inventory of current content 2. Establish a hierarchical outline of your content 3. Divided the content into their respective units Various online programs for transactions, payroll, accounting and bookkeeping, contracts, corporate records, correspondence, employee records

Determine the impact of business cycles on business activities.

A business cycle is a series of recurring changes in economic activity. Four phases make up a business cycle: expansion, recession, trough, and recovery. During expansion, the economy is flourishing. It is a good time for businesses to start up or expand due to the increased output of goods and services. Recession is a time of economic slowdown lasting at least two quarters. Companies reduce their output during a recession, and consumers have less money to spend on goods and services. A prolonged recession is called a depression.A trough is the low point in a business cycle. It marks the beginning of the transition from recession/depression to recovery when signs of economic growth are near. In the recovery phase, demand increases and businesses respond by hiring more workers and supplying more goods.

Write business letters.

A business letter must include: Sender's address Date (21 August 2013) Inside Address Salutation Body (written in block format) Closing Signature http://owl.english.purdue.edu/owl/resource/653/01/

Describe the nature of legally binding contracts

A contract is an agreement between 2 or more parties to do, or refrain from doing, some action. A contract must have 3 things: an offer, acceptance, and consideration. One party must make a clearly stated offer to another party. The offer must be accepted. Something of value must be promised in exchange for a specific action or non-action.

Explain the impact of a country's economic development on world trade.

A country's economic development impacts both their ability to export and their desire to import. In general, the more advanced an economy is, the more it will be able to export; for example, the U.S. exports more than Sudan (though geography plays a role). However, the more interesting impact is on a country's imports. In general, a good can be normal or inferior. Demand for a normal good increases with income. As you get richer, you want more of a normal good. However, demand for an inferior good decreases with income. As you get richer, you want less of an inferior good.As a country's income grows, they'll want to import more normal goods (e.g. European chocolate). By contrast, developing countries will demand comparatively more inferior goods (e.g. many poorer countries have a high demand for coal instead of cleaner, yet more expensive, sources of energy). Obviously, more advanced economies will demand more goods, but keep in mind the types of goods they demand.

Describe the impact of a country's history on world trade.

A country's history can play a notable role in either encouraging or restraining trade.For example, countries with historically closed, or partially closed, economies might find it difficult to garner support for trade. More prominently, industries that have been historically powerful may exert influence on policymakers to negotiate favorable trade deals. For example, in the United States, the coal industry gains significant attention, though the industry only employs 75K people, much less than theme parks or museums. However, the coal industry's long-held power allows it to exert disproportionate impact in politics and on lobbying.Likewise, such powerful industries can influence politicians to restrict imports, which will benefit their industry domestically.

Explain the concept of organized labor and business.

A labor union is a group of workers who have joined together for the common purpose of improving the terms and conditions under which they work. Unions are formed to obtain higher wages, better benefits, and improved working conditions. When laborers organize, they are able to increase their bargaining power with business management. Two main types of unions exist today—industrial unions, made up of workers employed in the same industry, and craft/trade unions, which are groups of workers with similar skills. The AFL-CIO is the federation for nearly all labor unions, although some very large unions are independent of the federation. Labor union contracts are created through a negotiation process called collective bargaining, involving union officials and company representatives. If an agreement cannot be reached, pressure strategies may be imposed by either side, including strikes, picketing, and boycotts by union members or lockouts, injunctions, and strikebreakers by management.Several advantages and disadvantages exist for both sides in organized labor. Workers gain individual dignity, fair treatment, protection, and fringe benefits. However, they must pay union dues, support union decisions, and face hardships during strikes. Businesses benefit by having security regarding wages, benefits, and working conditions as well as having the union assist in recruiting and training employees. Businesses, though, face increased costs in wages and benefits, have limited control in personnel matters, and loss of production in the event of a strike.

Describe factors that affect the business environment

A number of factors affect the business environment, therefore it is important to research the industry and understand the surrounding economy. Industry trends and patterns of change in areas such as sales growth and government regulation should be considered.Understanding the competition will help you plan a strategy of success. Barriers to entry in an industry may exist, such as a dominant competitor, economies of scale, and customer brand loyalty. Other industry factors include threats from substitute products, supply sources, and technology. A critical area to analyze is the demographics of your business environment, including number of companies, annual revenues, and average number of workers employed. Assessing the competition includes looking at market share and analyzing the position of your company relative to others in the marketplace.

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

A person's social media brand can market the company, allow you to connect with customers, and give the company an image.

Participate in problem-solving groups

A problem solving group is where you get together to solve problems within a group so that you can hear the opinions of other people as well as your own views.

Write research reports.

A research report is a collection of data that does not include recommendation, but it can be used to make one.One must define the topic, research the scenario, make a thesis, and support the claim with evidence.

Describe factors affecting the settlement of legal matters.

A settlement is a set of terms that the parties agree to fulfill within a certain timeframe after conclusion of the trial. Some factors are: Extent of Injury - how bad the damages are Potential Damages Caused by Trial - legal costs, etc. Publicity Concerns - unwanted media coverage, etc. Arbitration/Mediation - cheaper than formal litigation

Describe the nature of income statements.

A statement that shows how much a business has made in a certain accounting period Shows the net profit or net loss incurred during a time period http://www.investopedia.com/terms/i/incomestatement.asp

Nature of import/export law

A tax collected on imports and some exports by the customs authorities of a country. This tax is used to raise state revenue. It is based on the value of goods called ad valorem duty or the weight, dimensions, or other criteria of the item such as its size.

Demonstrate active listening skills (how to be a good listener).

Active listening includes listening, clarifying, and giving feedback Make eye contact Lean forward and demonstrate appropriate body language (nodding, not crossing arms, smiling) Be able to paraphrase what the speaker has said, and repeat their biggest points back to them Ask questions of clarification to show that you are listening Be empathetic, open, and aware Get rid of distractions http://www.twu.edu/downloads/counseling/E- 8_How_to_be_a_good_listener.pdf

Explain communication techniques that support and encourage a speaker.

Active listening, taking notes, and nonverbal cues such as eye contact.

Explain the nature of global trade.

Also called international trade, it is the exchange of goods and services across international borders Effected by industrialization, globalization and outsourcing Causes new competition to arise and innovations to be made http://en.wikipedia.org/wiki/International_trade

Write analytical reports (i.e., reports that examine a problem/issue and recommend an action).

An analytical report is a thorough analysis of a business situation, as well as a recommendation of action. One must analyze the situation by stating the problem and purpose of analysis, gather/organize information, and convey the report through an appropriate medium.

Describe the determinants of exchange rates and their effects on the domestic economy.

An exchange rate is the value of one currency in terms of another, and they are established on the foreign exchange market. This is a series of interconnected entities that exchange currencies, including businesses, banks, and governments. The exchange rate for a country's currency is determined by the supply and demand for that currency. This is impacted by foreign trade. The difference in the value of a country's imports and exports affects supply and demand, which affects exchange rates.For instance, if the U.S. is importing more goods than it is exporting, it will need to convert more U.S. dollars to other currencies. By doing so, the demand for other currencies increases and the exchange rate for U.S. dollars increases.

Analyze company resources to ascertain policies and procedures.

Analyze company resources to ascertain policies and procedures. Review the policies and procedures related to the information system to see how well they are working. Identify any weaknesses. As technology changes so quickly, it is important to have the policies and procedures reflect that. If, for example, the policy and procedures manual states "All employees will back-up their files on Friday before they leave work," you may want to delete it in view of the automatic back. Solicit opinions from the information system stakeholders as to whether the policies and procedures work. Determine how they see the juxtaposition of the policies and procedures in relation to the information system. This data can be collected by sending an email survey or asking people is they think the system is working well. Schedule a general staff meeting to review the policies and procedures if employees don't think the existing ones are working properly. The more input you have for revisions to the policy and procedures for the information system, the more people will feel "ownership" about the process and adhere to the manual. Follow up on any changes or revisions to the policies and procedures for the information system with an email to all staff. This will make ensure everyone is aware of exactly what changes have been made, and how they can work with the alterations that will affect them.

Identify sources that provide relevant, valid written material.

Apply the REVIEW concept to sources. R: Relevance, E: Expertise of Author, V: Viewpoint of Author/Organization, I: Intended Audience, E: Evidence, W: When Published.

Discuss the arbitration/mediation process.

Arbitration is when a plaintiff "sues" a defendant out of court with a middleman (known as the arbitrator) presiding over the "lawsuit." Mediation is similar, except the two parties attempt to reach a mutual settlement with a middleman (known as the mediator) facilitating negotiations.

Establish an ethical workplace as an entrepreneur

As the entrepreneur, hold yourself to high ethical standards. Serve as a role model to others. Always treat employees fairly and honestly. Employees tend to emulate the behavior of the business owner. Ethical behavior in the business gains the trust and respect of customers.

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

At some point, your job may require that you travel to another country. With an increase in globalization and trade, becoming a "world traveler" is becoming more necessary. Definitions Below are definitions for the key words mentioned in this KPI: Passport - A passport is an official document issued by a government which certifies the holder's identity and citizenship. This document entitles them to travel to and from foreign countries. Book - A passport book may be used for all international travel by air, sea, or land. Card - A passport card may be used to enter the United States at land border crossings and sea ports from: Canada, Mexico, the Caribbean, and Bermuda. Visa - A visa is a endorsement, or additional verification, within a person's passport indicating the holder is allowed to enter, leave, or stay for a period of time in a foreign country. Vaccination - An injection intended to produce immunity in the body against a specific organism (such as bacteria, sickness, and disease). Proof of Citizenship - When applying for a U.S.Passport (and many other travel documents) you will need to provide proof of citizenship. After that, your passport my act as one form of proof of citizenship. Proof of citizenship may include: a valid passport, U.S. birth-certificate, certificate of citizenship, etc. Sponsorship for Employment - Employment Visas allow a foreign national to work in the U.S. for a period of time. This usually involves sponsorship for employment visa status by the U.S. employer

Discuss the impact of bribery and foreign monetary payments on business.

Bribery creates winners and losers. A company that offers bribes typically receives unfair advantages (though they risk legal action and reputational backlash), such as lack of regulation or being exempt from legislation. By definition, this negatively impacts businesses not part of the bribe. Foreign bribes are oftentimes highly prevalent in countries with faulty legal systems, which don't have systems in place to monitor and detect bribery.

Explain the concept of public enterprise.

Business activities that are created and controlled by the state E.g. Colorado decides that there is a need for a DMV, so they build one and hire employees to work there; all of the DMV's activities are controlled by the state http://www.thefreedictionary.com/public+enterprise

Explain the concept of private enterprise.

Business activities that are not controlled by the state E.g. Bob decides to open up a car garage, the state does not own his garage http://www.thefreedictionary.com/private+enterprise

Explain the nature of business ethics.

Business ethics is important to making the general public happy about what happens in the business world (public relations). Business Ethics: creates a good reputation balances the needs of the stakeholders with the needs of the company helps the business thrive in the global economy helps to retain employees keeps the business from being penalized under the law http://www.slideshare.net/birubiru/meaning-and-nature-of-business-ethics (Pages 4 through 7)

Determine the relationship between government and business.

Business influences the government by: Choosing whether or not they will back certain politicians, and therefore, certain ideas Forming trade unions By making political action committees Effect government policies with their large investments Governments influence businesses by: Making laws and regulations that determine what can be sold, who can buy it, etc. Having government agencies that help workers, small businesses, and people who are trying to get jobs. http://edu-article.blogspot.com/2012/12/government-and-business-organizations.html

Interpret cash-flow statements.

Cash flow statements show inflows and outflows of currency, divided into operating, investing, and financing activities. The net income for the timeframe can be calculated by subtracting cash outflowed from cash inflowed.

Describe connections between company actions and results. (e.g., influence buying behavior, etc.)

Company actions that affect consumers include: advertising, pricing, product mix, supply of goods, sales and promotions, product development and improvement, product safety, payment options, etc. Company actions that affect the competition include: advertising, pricing, product mix, supply of goods, sales and promotions, distribution methods and locations, etc. Company actions that affect employees include: the use of technology in production and record keeping, managerial ethics, human resources management, production planning and scheduling, risk management, investing, etc. Other actions to be considered include company actions that affect things like the environment, the global economy, etc.

Explain factors that influence customer/client/business buying behavior.

Cultural factors-Social factors: family, role and status-Personal factors: age, income, occupation-Psychological factors: motivation, perception, learnings, beliefs and attitudes-Economical factors: personal income, family income, income expectations, liquid assets, government policy

Explain cultural considerations that impact global business relations

Cultural sensitivity is"the knowledge and interpersonal skills that allow providers to understand, appreciate, and work with individuals from cultures other than their own.

Debtor-Creditor Relationship

Debtor-borrows/owes money Creditor-loans/Is Owed Money Debtor-creditor relationships are created in one of two ways: voluntarily or involuntarily. Voluntarily. Most of our debtor-creditor relationships arise from voluntary interactions. ... If the payments aren't made, the creditor can often force the sale of the house to satisfy the mortgage debt. Involuntarily. An involuntary debt arises by operation of law or judicial proceedings. For example, if the employee of a small business is at fault in a traffic accident and injures someone, the business can be required to compensate the injured person.

Describe the United States' judicial system.

Depends on adversarial system of justice in which two different litigants present their case before a neutral party, allowing the judge or the jury to determine the truth. http://people.howstuffworks.com/judicial-system.htm

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

Digital communication is not as safe since it has a tendency of being hacked. If your digital communication is not safe and encrypted, then someone could be able to hack into your messaging server and see all of your confidential business information that has been sent over digital communication.

Describe types of business models

Direct Sales Franchise Model Freemium Model Subscription Model.

Describe the concepts of economics and economic activities

Economics deals with the production, distribution and consumption of goods and services. Specifically, economic systems deal with the way a country provides for the needs and wants of its citizens. Economic systems help countries to make decisions about how to use its resources. Economic activities include: manufacturing, buying, selling, transporting and investing. The resources of a nation will help determine which economic activities should be pursued.

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

Electronic communication tools have completely altered how business is conducted.For one, such tools have enabled telecommuting, allowing people to work from different parts of the country or world. This flexibility can help attract and retain talent.Additionally, advances in communication have facilitated more effective and varied B2B and B2C communications, resulting in more collaboration among business partners and marketing opportunities.In both contexts, companies use a variety of digital and social media properties to communicate with customers for both attraction (advertising and PR) and retention purposes (training).

Orient new employees

Employees Oriented Experience Success Go over company policies Take a tour of the workplace Training sessions Mentoring program(Employees who have been properly oriented to their work environment experience greater satisfaction and success. Increasing one's familiarity with new surroundings and expectations provides a welcoming impression and leads to greater productivity sooner.)

Explain the rights of workers.

Employees have the right not to be discriminated on because of age, disabilities, gender, genetic predispositions, race, religion, sexual orientation, etc. They should be able to support unions, take medical leaves, file complaints and report unsafe conditions without retaliation. http://www.aflcio.org/Issues/Civil-and-Workplace-Rights/Your-Rights-at-Work

Explain the role requirements of entrepreneurs and owners

Entrepreneurs and owners should be good leaders and well-versed in business.

Explain the nature of business ethics

Ethics are guidelines for good behavior, based on knowing the difference between right and wrong. Behaving ethically means being truthful, fair, open, and mindful of the law. In marketing, business ethics involves a company's efforts to protect individual consumers and society as a whole. Businesses must keep consumers informed and protected against fraud and deceit, and they must not produce unsafe goods. Another ethical consideration for marketers is price gouging, or pricing products unreasonably high. In sales, ethical issues to be aware of concern bribes, kickbacks, and high pressure tactics.Businesses must behave ethically in management, as well, including personnel and accounting issues. The standards of ethics within a business are in large part determined by the owner's principles and values. Remember, people do not all share the same ethical values. As a result, businesses should create a clear policy on ethics standards.

Ask relevant questions.

Explain your misunderstanding. State what you know. State what you don't know. Sound confident. Speak as well as you can. Always research first. Keep calm. Use the best spelling and grammar possible. Think about what they said. Ask for clarification when you need it.

Extract relevant information from written materials.

Extracting information while reading is a process that consists of three main activities: pre-reading,reading and review. Before you begin to read, determine what you need to know as a result of your reading. Scan the titles, headings, sub-headings, topic sentences and graphics to more efficiently gather and prioritize the information. Always pay close attention to introductions and summaries, as they will keep the information in context. During the pre-reading process, you may want to create your own table of contents based upon the information you are seeking. You can use this as a guide later as you read, and when you review, it can be used as a checklist so you can rest assured that you have covered everything. It helps if you know the terminology involved in the material before you actually start.

Defend ideas objectively

Getting behind an idea means imbuing it with conviction and passion. This commitment is vital when pushing for an initiative or suggestion that you think is important to implement, and helps bring others to your cause. But when faced with criticism, our instinct is to protect it as you might a child, putting yourself on the defensive. Defending yourself without being defensive is important, as without it you will be opened to additional criticism such as lashing out or shutting down. Maintaining an even keel in the face of skepticism or even hostility is a vital attribute to leadership presence, the kind of aura that you need to radiate if you ever hope to instill followership Be prepared. Whenever you propose an idea there are certain to be people who do not understand the idea, do not like the idea, or simply don't like you. So prepare yourself for objections. Consider who will say what and why. For example, one colleague may say your initiative is cost prohibitive, another might question its efficacy, and another might wonder about its timing. Develop comeback arguments to address concerns. Use such arguments either preemptively (before the criticism is raised) or after the objection is voiced. Be generous. Compliment others for the constructive feedback they are offering. You can do this even when the criticism is more critical than helpful because it shows that you are someone who is above pettiness. Others might be petty, but you are one who takes the high road. That demonstrates strength of character. Be patient. Few, if any, will embrace your idea as much as you have. After all, we all have our own agendas. So be realistic with your timeframe. Know that it will take time and effort to persuade others to adopt your idea. You will hear similar counter-arguments voiced multiple times; expect it. Refine your ideas to reflect that you are listening to others. And remember that patience also requires that you keep your cool.When you encounter criticism, counter with an argument that positions your idea as doing what is best for the organization — not simply yourself.

Discuss the impact of globalization on business

Globalization impacts businesses buy providing new ideas that come from around the world.

Explain the concept of leadership.

Good leaders are: Ethical Respectful Objective Open-minded Skilled in the field that they lead Good communicators (both talking and listening) http://www.mas.org.uk/management-advisory-service/what-makes-a-good-leader.html

Describe the impact of the political environment on world trade.

Governments are responsible for negotiating and agreeing to free trade agreements. Therefore, the political climate can have a vast impact on a country's trade policy .In general, trade agreements seek to reduce or remove barriers to trade across borders, often through reducing tariffs (taxes on imports). Comparative Advantage Proponents of trade point to the concept of comparative advantage, the idea that a country can produce particular products more efficiently than another country. For example, Saudi Arabia is really good at producing oil. It makes perfect sense for Saudi Arabia to produce more oil than what it needs and to export the rest to other countries. Likewise, Chile is really good at producing copper, but not oil. Chile would be best served by playing to their strengths, producing lots of copper to use and export, and simply buying oil from Saudi Arabia. If they aren't suited to produce oil, why make the effort when Saudi Arabia is willing to sell their extra oil? This is the beauty of free trade - countries can allocate their resources more efficiently by specializing and trading for what they lack. Opponents of trade often argue the following: "Our country can produce cars, so why should we import them from other countries? By producing more cars in our country, we can support more jobs, even if it raises prices, right?" Job creation is always a major focus of political campaigns, and some politicians might promise to implement trade policies that reduce exports in favor of producing more goods domestically. Conversely, trade-friendly politicians who embrace globalization might seek to expand trade. Summary As you can see, politics can heavily impact a country's trade alliances, imports, and exports. This is an important factor to consider when discussing global economics and world trade!

Write professional emails.

Have a clear subject ine the identifies the purpose of the email, great the person by name (avoid "to whom it may concern"), keep the email short and to the point, and close appropriately. https://www.training.nih.gov/writing_professional_e-mail

Explain the purposes and importance of credit.

Having good or bad credit determines whether or not people can be approved to get credit cards, take out loans, buy cars, start businesses etc. Credit shows how financially responsible a person is based on how they pay their bills and what debt they are in. http://credit.about.com/od/credit101/a/creditmatters.htm

Explain the role of ethics in human resource management.

Human resource departments must work ethically, especially when making decisions about the hiring and treatment of employees. They are responsible for making sure that the company has workplace safety as well as a zero tolerance for discrimination. Ethics in human resource management help the company work better and improve the perception of the company by the public http://en.wikipedia.org/wiki/Business_ethics#Human_resource_management

Explain the impact of major trade alliances on business activities.

In general, trade alliances set the terms of trade between two countries.As a simple example, the United States might sign a trade agreement with Mexico that allows the U.S. to export airplane parts with low tariffs and enables Mexico to export computers with low tariffs.To note, a tariff is a tax on an import.Trade alliances have a major impact on businesses, as they are the ones actually producing and selling products. They are the ones who stand to make a profit or a loss. The structure of trade deals can majorly impact business.Considering the above example, that trade agreement would be good for US manufacturers of airplane parts but maybe not so great for manufacturers of computers. On the whole, this agreement may be good for the U.S. if they have several airplane part manufacturers but few computer makers.Because of the major impact of trade alliances, many companies hire lobbyists to influence trade legislation that will benefit their industry

Describe the economic impact of inflation on business.

Inflation causes businesses to: Increase their costs in order to still make a profit Lose a lot of customers because the customers do not want to pay the higher price http://premium.docstoc.com/article/89448302/Causes-and-Effects-of-Inflation-on-Your-Business

Explain the economic impact of interest-rate fluctuations.

Interest rates are determined by supply and demand. As saving and investing increase the money supply, interest rates tend to decrease. Likewise, more borrowing is likely to raise interest rates. Interest rate fluctuations can have an impact on stock purchases because as the cost of money changes, company profits can increase or decrease.

Explain the concept of accounting.

Keeping financial records so that an individual or business can see where their money is coming from, what it is going to, and how they can spend their money more efficiently. http://www.investopedia.com/terms/a/accounting.asp

Handle telephone calls in a businesslike manner.

Know what you're going to talk about so that you don't waste theirs r your time, tell them who you are, talk clearly and confidently, and end the call strong. Thank them for their time http://www.levoleague.com/articles/career-advice/telephone-etiquette-tips

Describe the nature of environmental law

Law for the regulations of the environment. These laws are used to safeguard the environment from human activity. http://en.wikipedia.org/wiki/Environmental_law

Follow oral directions.

Maintain eye contact with the speaker. To follow oral directions you must carefully listen as the directions are presented. Look the speaker directly in the eye to keep yourself focused and listening throughout the time you are receiving the directions. Repeat the words the speaker is saying in your head. Listen actively with internal monologue. As you hear the directions, take them into your head and silently repeat them to yourself. By doing this, you internalize the directions you are receiving. Paraphrase any difficult to understand sections. If the direction giver uses language structures or vocabulary that confuse you, reword the complex sections in your head. By translating the directions into more comfortable language silently you can increase your likelihood of retaining the information. ng process, mentally review all of the steps given to ensure that you remember all of the orally presented directions. Review the mental list you created at the conclusion of the direction giving. Ask yourself if the steps seem logical. If not, you have likely skipped a step. Ask for clarification. If you don't understand something or you feel that you have forgotten part of the instructions, ask questions of the direction giver. By doing so before you begin the task you can avoid potential missteps or mistakes. Complete the described task. Move through your mentally prepared list of steps to complete the process as outlined in the orally presented directions.

Explain the nature of positive customer relations.

Maintaining frequent contact with customer base. Allow easy communication with the customer by being honest, and upcoming. Use rewards systems as well as exceed customer's expectations. http://www.coursepark.com/blog/2012/07/4-reasons-why-customer-service-is-important-for-your-business/

Discuss the global environment in which businesses operate

Many businesses must rely on resources beyond the borders of the U.S. to remain competitive. The overall economy is also reliant on a global marketplace. Foreign trade provides many goods that would otherwise be unavailable or too costly. Likewise, foreign consumers help support businesses in the U.S. by buying goods made here.Several factors affect the environment of the global marketplace including geography, culture, economic development, and political or legal concerns. Trade barriers, such as quotas, tariffs, and embargoes, are formal political actions that can affect international trade. Informal trade barriers can also be found due to cultural differences among nations.

Discuss the impact of cultural and social environments on global trade.

Multinational business is not without difficulties to overcome. Businesses must consider language and cultural differences. Also, there are differences in the stability of the government that might result in political risks. Different economic philosophies may lead to more or less government influence on business in a particular country. In addition, businesses have to deal with different monetary systems with fluctuating values among global currencies. Doing business in other countries often means taking a different approach to business relationships and management practices, and even different ethical beliefs.

Interpret other' nonverbal cues.

Notice overall signals. The way someone dresses and habits of grooming can convey clues about who they are, or how they wish to be perceived.Pay attention to posture. This means more than just whether someone sits up straight. Leaning forward expresses interest in interacting with you. Turning away could mean that they do not want to continue the conversation.Understand gestures. Some people pepper their conversation with hand motions to emphasize or enhance their verbal meaning. Gestures often convey the emotional intensity behind words.Tune in to vocal tone. When a speaker's voice becomes high-pitched, it usually indicates excitement or other emotional intensity. Lowering the voice may mean that the speaker is trying to appear more authoritative or influence you as a listener.Watch the expression. Movements of the face, especially the eyebrows, can tell you how someone is reacting to you.

Explain how organizations adapt to today's markets

Organizations adapt to today's markets by using tools like SWOT Analysis and environmental scans to identify ways the business can improve. A SWOT Analysis assesses a company's strengths and weaknesses and the opportunities and threats that surround it. An environmental scan is an analysis of outside information that may have an impact on an organization. A business is constantly engaged in the process of renewal when they choose to use this data.

Describe the functions of prices in markets

Price is the value in money placed on a good or service. One function of price is that it can affect the value that a customer places on an item. Price helps establish a company's or product's image—many customers use price as a gauge to make judgments about products and companies. Another function of price is that it can give a competitive edge. Thirdly, the price of an item is part of the business' end goal of making a profit.

Explain the concept of productivity

Productivity is defined as the output per worker hour that is measured over a set period of time, such as a week, month or year. Higher productivity increases profits. Businesses can increase their productivity by investing in new equipment, technology or facilities, providing additional training to staff or increasing the responsibilities of workers.

Distinguish between economic goods and services.

Products and services are how businesses get money Products are tangible items like food, clothing, machines, etc. Services are non-tangible things like baby-sitting, tutoring, etc. http://community.selfbookit.com/node/33

Identify factors affecting a business' profit.

Profit Margin: How much a business spends versus how much they make Costs include: Investment costs, operating costs, maintenance costs, material damages, production losses, etc. Other factors include state of the economy (bad economy, people spend less) www.exprobase.com/Default.aspx?page=25

Apply written directions to achieve tasks

Read all of the written instructions all the way through at least once.Understand the written instructions. If you have a question reread the instructions or the part you do not understand. Comprehend what the instructions tell you to do. Do not start to follow the instructions until you are completely clear with them. If necessary, call the person who wrote the instructions and ask any questions you still have. Follow the written instructions. Perform each step of the instructions in the exact order written. For example if the instruction says "take pill 'a' with a full glass of water and then take two pill 'b' with orange juice", make sure you take pill "a" first. Keep the instructions with you as you follow them. Even if you think you will remember them, find and read the instructions. Follow the written instructions at the same time.

Determine factors affecting business risk

Risk is the possibility of incurring a loss. Economic risks are those that can result in a financial loss. Pure risk is one that presents the chance of loss but no opportunity for gain. Speculative risks offer the chance to either gain or lose.Some risks are controllable, while others are not. Likewise, you can insure some risks while others cannot be insured. To manage risks, they can be avoided, transferred, insured, or assumed.

Describe small-business opportunities in international trade

Small businesses can use the globalization offered by the Internet to reach a wider audience to market and sell to.

Identify impact of small business/entrepreneurship on market economies

Small businesses contribute to local economies by bringing growth and innovation to the community in which the business is established. Small businesses also help stimulate economic growth by providing employment opportunities to people who may not be employable by larger corporations.

Distinguish between using social media for business and personal purposes

Social media for business will promote your business and should be clean, powerful, and positive. Social media for personal use can be to express yourself, in the way that you would like your followers to see.

Explain the role of business in society.

Society needs business to work, even if it is just bartering or trading. Business shapes society (the state of the economy influences the way that people live). Business bring changes and innovations to society. Society also changes business by giving rules that they have to abide by (social norms). http://www.hks.harvard.edu/m-rcbg/CSRI/publications/report_12_CGI%20Role%20of%20Business%20in%20Society%20Report%20FINAL%2010-03-06.pdf See page 7

Explain types of business ownership.

Sole Proprietorship-One individual operating the business alone General Partnership-Composed of two or more people who operate business by sharing expenses and profits Limited Partnership-One or two general partners with one or more limited partners Limited Liability Partnership-When one partner does not have liability for the other partner Limited Liability Company-Is formed by one or more individuals through a special written agreement Corporation-Business operated by a board of directors http://bls.dor.wa.gov/ownershipstructures.aspx

conduct a risk assessment of an event

Steps in a Risk Assessment: 1. Identify risks. 2. Classify risks (economic, human, natural). 3. Rank each risk by potential damage caused. 4. Choose a method of risk management. 5. Rank each risk again, following the implementation of chosen method of risk management.

Describe the nature of taxes

Taxes are payments you make to the government for services they provide. The U.S. tax system is based on the idea that everyone should contribute their fair share, that tax laws should be clear and simple, and that the tax system should be flexible. Tax dollars are spent on a number of things including public education and libraries, military defense and law enforcement, transportation costs, and fire protection to name a few.Income tax is calculated as a percentage of the taxable income you earn on the job. Social Security, or FICA, tax is used so that workers can receive benefits upon retirement. Sales tax is a percentage of the price of an item that a person pays when they buy something.Estate and inheritance taxes are taxes on wealth, which are collected after a person has died. Property tax is the main source of money for many local governments, and is based on the value of property such as land and buildings.

Describe the use of technology in human resources management

Technology is used more and more in the area of recruiting and hiring employees. ... New employee orientation also makes use of technology for job training and disseminating company policies. Payroll functions are automated in many companies.

Describe the nature of legal procedure

The accused, once indicted, is to face a fair and speedy trial with a jury present and a judge presiding. S/he has the right to an attorney and is not required to testify as per the Sixth Amendment of the U.S. Constitution and the Miranda rights.

Describe the nature of entrepreneurship

The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.

Discuss the nature of human resource management.

The department in a business that is responsible for attracting, selecting, training, hiring, and rewarding employees within the business. http://en.wikipedia.org/wiki/Human_resource_management

Write executive summaries

The executive summary component of your business plan exists to give readers an overview of the entire document, allowing them to understand what they can expect to learn. "Investors will read the executive summary to decide if they will even bother reading the rest of the business plan.

Describe the litigation process.

The litigation process describes how a civil suit proceeds. It consists of a pre-trial stage (complaint filed by the plaintiff, an answer statement provided by the defendant, investigation of information pertaining to the case, expert witness accounts, and motions to the court), followed by the trial, post-verdict, and wage garnishment.

Explain the organizational design of businesses

The manner in which a management achieves the right combination of differentiation and integration of the organization's operations, in response to the level of uncertainty in its external environment. Subdivision Functional Unit

Analyze the impact of job specialization/division of labor on productivity.

The more job specialization there is, the more productivity increases http://smallbusiness.chron.com/specialization-labor-can-lead-increased-productivity-12347.html

Discuss the role of ethics in accounting.

The nature of what accountants do requires a high level of ethics because accountants work with people's money "Knowledge of ethics can help accountants and auditors to overcome ethical dilemmas, allowing for the right choice that, although it may not benefit the company, will benefit the public..." http://en.wikipedia.org/wiki/Accounting_ethics

Explain the time value of money.

The principle that money now is better than money later http://www.investopedia.com/articles/03/082703.asp

Discuss the role of administrative law.

The procedures determined by a government agency involving operations, rules, etc. The procedures are unique to each government agency, and can only be challenged once a member of the public has gone through every administrative appeal. http://www.oal.ca.gov

concept of management

The process of coordinating resources to accomplish an organization's goals

Describe types of business activities

There are six general business activities. Generating ideas is an important activity in that businesses must remain competitive with other firms. Businesses also need to raise capital to finance their operations. Another important business activity is employing and training human resources. Businesses buy and sell goods and services. Marketing is a group of activities that provide and distribute the goods and services wanted and needed by a business' customers. Another activity is that businesses must maintain records to track performance and make decisions.

Discuss the impact of a nation's unemployment rates.

There are three main impacts of lingering unemployment on an economy: efficiency, inequality, and discouraged workers. Unemployment is inefficient in that it wastes human resources. It leads to inequality because those with the least experience tend to lose their jobs first, which are usually minorities and the young. Lastly, unemployed people tend to get discouraged about themselves and their abilities, and may give up their search for work.Unemployment is an important indicator of the overall strength of an economy. The higher the unemployment rate, the greater the chances of an economic slowdown.Likewise, the lower the unemployment rate, the greater the chances of an economic recovery. When more people are working, more people are spending money and paying taxes to help the economy grow.

Explain career opportunities in entrepreneurship.

There is opportunity to make a lot of money, be your own boss, have total authority, make an impact on the economy and on society, to leave a legacy, and to know that you have done a great accomplishment. http://www.inc.com/ilya-pozin/10-best-reasons-to-be-entrepreneur.html

Adapt written correspondence to targeted audiences

To adapt written correspondence to a target audience, you need to make sure that it appropriately written, written with just the jargon that the audience would understand, and written for the audience's reading (because why would a CEO read something that was meant for a production line supervisor).

Discuss actions employees can take to achieve the company's desired results.

To help achieve a company's desired results, employees should look at long term goals outlined in the company's strategic plan. The employee should see which activities they perform that can contribute to the achievement of the goals set forth by the organization.

Explain the types of economic systems.

Traditional: bartering and trading resources, goods, and services Command Economy: government controls the economy by how to use and distribute goods and services Market Economy: each person makes their economic decisions; government does not control who buys what; based on the laws of supply and demand Mixed Economic System: Market based economy where the government controls some aspects of what is sold, and who can buy http://www.shmoop.com/economic-systems/types.html

Determine economic utilities created by business activities

Utility refers to the added value of a product. There are five types of utility.Form Utility: This type of utility involves using raw materials to make a finished product.Place Utility: This type of utility involves having the product where the customer wishes to buy the product.Time Utility: This type of utility involves having the product available when the customer wishes to buy the product.Possession Utility: The exchange of a product for money is known as possession utility.

Describe concept of insurance.

When you buy insurance, you agree to a policy that says that if something happens to whatever you have insured, it will be fixed, replaced, or protected up to a certain amount http://www.iiminfo.org/CONSUMERS/HowInsuranceWorks/tabid/1714/Default.aspx

Prepare sample written reports.

Written reports should include: Title page Abstract (brief summary of findings) Introduction (what the problem was) Materials and Methods (what you used and what you did) Results (your findings) Discussion (what it all means) Conclusions (summary) References (cite EVERYTHING!) http://www.columbia.edu/itc/seas/E3810-lab/wreport.html

Describe legal issues affecting businesses

Wrong Termination Lawsuits - former employee sues if (s)he believes (s)he was unjustly fired Harassment/Discrimination Cases - employee/customer was harassed or treated inferiorly due to demographic differences Immigration Audits - requirement of businesses to file Form I-9 in order to verify employee eligibility Intellectual Property Issues - disputes over ownership of trademarks, copyrights, and/or patents Dissatisfied Customers - consumers feel misled and deceived

Nature of Business Ethics

a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.

Nature of customs regulation

a tariff or tax imposed on goods when transported across international borders. The purpose of Customs Duty is to protect each country's economy, residents, jobs, environment, etc., by controlling the flow of goods, especially restrictive and prohibited goods, into and out of the country.

interpret business policies to customers/clients

adapt communication to the cultural and social differences among clients overcoming language barriers,international business,neutral tone,target audience,technology(time zones),no politics interpret business policies to customers/clients employees learn how to interpret and explain corporate policy in a way that customers can appreciate and understand;use simple language, listen/sympathize,explain (health hazard,nonrefundable)

reinforce service orientation through communication

concern for customers,enthusiasim

build and maintain relationships with customers

dependable income,touch base frequently,-be prompt/ organized,respect/care -especially important with small businesses, communicate openly, honesty

Select and use appropriate graphic aids

goal is to make the data stand out on the page, and do make the data support the main purpose of the document as clearly and strongly as possible -we want the reader to grasp the speakers ideas and opinions from their words, and then turn to the graphics for support of those ideas and opinions, sending them back to the words, and so on -graphics must be visible, must not be too detailed as attention must be on text -Tables, Graphs and Charts, Photos, Drawings and diagrams

nature of risk management

holistic view to risk management (homeownership)-focuses on all risks a company may face (fire, acts of god, theft insurance) Speculative and Pure risk Chief Risk Officer

explain the role of ethics in customer relationship management

o Building trust and loyalty is keyo Customer information is personal information and must be protected o The company has a moral obligation to safeguard personal information collected from the customer o The company often is legally culpable if information is mishandled or not properly protected o Some customer information could be used to steal from the customer or impersonate him/her Children's information often has legal restrictions concerning what can be collected and stored o Security measures when handling credit card payments and information o Customer data is stored in a secured manner that monitors when and who accesses the information o There are secure levels of access so those that should not be able to see certain information can't o Data is properly deleted when a customer leaves the CRM program

describe the use of technology in customer relationship management

o By gathering and organizing customer information: determine and fulfill its customers' needs and wants; identify the most profitable, loyal customers. After identifying these customers, the business may provide higher, better service to these customers to maintain their loyalty and increase their profitability o Uses: Customer information; Employee information; Create reports on buying habits and trends; Track sales and create goals for the sales teamo Types of software: Operational CRM - provide support to front office business processes such as sales personnel, marketing and service staff Analytical CRM - Basically it evaluates the necessary customer data for a wide variety of reasons o Types of data: Contact data - ability to build stronger, longer lasting relationships with customers. Know what they "Like" on Facebook and who/what they're following on Twitter in addition to their personal data Demographic data - income, zip code, etc.Transactional data - what, when, where, and how much a customer bought Relationship data - allows customer facing employees in such areas as sales, customer support, and marketing to make quick yet informed decisions on everything from cross-selling and upselling opportunities to target marketing strategies to competitive positioning tactics. o Use for creating a view of the customer:Software can be programmed to collect and display customer information in a way the works best for the employee• A "dashboard" summarizes information so that a manager or employee can get pertinent information at a glance• Employees can be taught to read standardized summary pages that give them the information needed to best approach the customer CRM technology can present only the critical information for the particular customer and can be used to compare customers using like information

adapt communication to the cultural and social differences among clients

overcoming language barriers,international business,neutral tone,target audience,technology(time zones),no politics

respond to customer inquiries

sense of urgency,customer=own problems,consistency,loyal customers,standards reflect image, employee responsiveness

factors affecting management

social and cultural environment in which a business operates will have an important influence on human resource management (HRM). The cultural and social environment includes such things as work ethic, attitude towards work and employee motivations.