Introduction to Business High School Essential Questions:

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1 Introduction to Business High School Essential Questions: 1. How are businesses the cornerstone of our free enterprise system? 2. How can consumers and business people manage the risks associated with life and conducting business? 3. How does marketing play a role in a consumer driven economy? 4. What do businesses do to ensure they are successful when making and managing money? 5. Explain why effective leadership plays a vital role in management? I: Business Environment Standard 1 1A: Students will examine the economic principles and concepts fundamental to business A.1: Students will explore how economic principles affect the workplace. economic systems drive opportunities economic systems for prosperity. (traditional, command, market, mixed) supply demand balance of trade gross domestic product free enterprise monopoly entrepreneurship explore how the economy encourages free enterprise and entrepreneurship. explain how the economy functions by describing typical economic activities. identify the four economic systems. define supply and demand. analyze how supply and demand impact a business venture. list common indicators used to measure the strength of an economy. differentiate between economic systems used globally.

2 Standard 2: 1B: Students will analyze the organization of a business B.1: Students will define and provide examples of the basic forms of business ownership. successful businesses must be focused identify the four functions of business functions (production, on the customer. (management, marketing, production, finance, marketing, and assembling the best team and and finance). management) resources will impact the success of the list the five types of utility provided by utility (form, place, time, business venture. business. information, and possession) businesses should select the form of identify types of business ownership. producers ownership that provides the greatest classify the advantages and service business proprietorship corporation partnership limited liability company (LLC) number of benefits. disadvantages of types of business ownership. cooperatives franchises 2.2 1B.2: Students will explore the impact of globalization on a business. economies are linked and dependent globalization upon one another within a larger international global economy. domestic trade policy list products from global markets. explain how international business impacts you. name the factors that shape and impact the global business environment (political, cultural, legal, economic).

3 Standard 3: 1C: Students will analyze how business ethics and business law influence business decisions C.1: Students will identify elements of the legal obligations in the business environment. business laws serve to protect all describe the purpose of contracts. lease vested parties (i.e. consumers, explain workplace laws and regulations. contract business, employees, the environment, identify laws and regulations that breach etc.). protect consumers and employees. environmental laws consequences exist when businesses discuss the role of the legal system in workplace laws U.S. Department of Labor operate without regard for business laws. business C.2: Students will explain how businesses take action to promote ethical behavior and social good. it is a wise business practice to give discuss actions businesses take to code of ethics back to society. promote social good. integrity consequences exist when businesses explain how ethical behavior plays a social responsibility code of conduct operate without regard for business ethics. role in business.

4 II: Management Standard 1: 2: Students will analyze the management and leadership functions and their implementation within the business environment. 1.1: 2.1: Students will explore how leadership styles and theories vary within business culture. management responses help determine planning a positive or negative outcome. organizing professional behavior directly impacts leading the credibility of a business and its controlling employees. staffing chain of command organizational chart autocratic democratic theory theory Y theory Z motivating communication conflict resolution professionalism describe the levels of management in business and organizations. discuss leadership styles. describe how management theory leads to business success or failure. respond to business management scenarios. identify the five functions of management. identify the human relations skills needed by managers and leaders. 1.2: 2.2: Students will explore the role of goal setting in successful management. SMART goals time management innovative human resources creating goals has a positive impact on business outcomes. human resources is a vital component of a successful business. write specific, measurable, attainable, realistic, and timely goals. describe the role of human resources within an organization.

5 III: Marketing Standard 3: Students will recognize the customer-oriented nature of marketing and analyze the impact of marketing activities on the individual, business, and society. 3.1: Students will describe the importance of marketing in the competitive market economy. Students will know: the goal of marketing is to drive marketing mix consumer behaviors. competitive market competition drives production and target market consumption. segmentation effective advertising targets consumers consumers based on segmentation factors. describe the need for marketing and creating a competitive advantage. determine how consumer differences impact buying decisions. identify a target market for a variety of products or services. 3.2: Students will identify and analyze the 4P s (product, place, price, promotion). product price place promotion services goods advertising campaign the advertising campaign provides many ways to promote a business or its products. the right message creates a demand for products or services. identify the 4P s of marketing. list the most common advertising media (tv, newspaper, radio, magazine, mass mailings, Internet). summarize the elements of an advertising campaign. demonstrate promotion through the creation of an advertising campaign.

6 IV: Business Finance Standard 4: Students will examine and apply the principles of accounting and financial decision-making. 4.1: Students will recognize and use basic terminology, principles, and concepts in the accounting process. effective accounting principles should explain the finance functions of assets inform business decisions. business. liabilities purpose of accounting is to keep identify types of daily business owner s equity records of transactions and to create transactions. fiscal period financial statements on a regular basis. explain double-entry accounting Generally Accepted business must have accurate up-to-date procedures. Accounting Principles financial records in order to make good define basic accounting terms. (GAAP) business decisions. accounting accounts payable accounts receivable sales (revenue) expenses double entry accounting transactions source documents accounting equation

7 4.2: Students will review financial statements and budgets. balance sheet income statement owner s equity statement cash flow statement net income (loss) capital budget running an effective business requires analyzing financial statements and budgets to make business decisions. state the importance of financial statements for a business explain why financial statement analysis is performed use ratio information to determine if the business is viable. show how a financial statement is used to reduce expenses or increase profit (revenue). Review a budget and give suggestions; positive and negative. 4.4: 4.3: Students will analyze the functions of risk management. risk risk can be transferred through the insurance purchase of insurance. risk management liability insurance controllable risk uncontrollable risk Explain the role of insurance in managing risk. Name and define the different types of risk.

8 VI: V: Ethics Standard 6: 5: Students will develop and apply a code of ethics to various issues. 6.1: 5.1: Students will exhibit a personal code of ethical behavior. Acceptable Use Policy citations references footnotes Plagiarism file sharing there are impacts of ethical and unethical or illegal use of technology on individuals and society. users are responsible for activity in electronic accounts. they must take accountability for their actions. cite credible and appropriate sources. demonstrate personal responsibility by engaging in positive, respectful use of technology. comply with the District s Acceptable Use Policy related to ethical use, privacy, plagiarism, and file sharing. document properly both print and digital sources to avoid plagiarism. (Refer to District Technology Standard 1)

9 VII: VI: Career Standard 7: 6: Students will relate the importance of career readiness skills to career development. 7.1: 6.1: Students will develop strategies to effectively transition from school to career. lifelong learning impacts personal a brainstorm pathways for post-high occupation career success. school graduation options. career there are many options for career access resources to explore a career career clusters training including apprenticeships, cluster of interest. Internet research internships, and military service. identify materials needed to networking professionally apply for a job. career handbooks post-secondary education graduate post-graduate apprenticeship military service internships work study gap yea

10 VIII: VII: Technology Standard 8: 7: Students summarize human cultural and societal issues related to technology and practice legal and ethical behavior. 8.1: 7.1: Advocate and practice safe, legal, and responsible use of information and technology. employers expect appropriate use of digital citizenship the Internet in the workplace. cyber bullying it is their responsibility for safe and netiquette ethical use of technology. digital footprint social media copyright cookies phishing Malware identity theft describe the importance of digital security. discuss social concerns related to technology. (crime, employment trends, health concerns, privacy concerns) demonstrate personal responsibility by engaging in positive respectful use. 8.2: 7.2: Students demonstrate creative thinking, construct knowledge, and develop innovative products and processes using technology. specialized digital tools can be used for develop projects combining multiple graphics video problem solving, decision making, and creativity in all areas. digital tools to suit a variety of audiences and purposes. audio adapt digital tools to create products of multimedia professional quality.

11 I: VIII: Communication Standard 9: 8: Students will develop basic skills in active listening and written communication. 9.1: 8.1: Students will listen actively, use the communication process, read and research information, and integrate technology to enhance communication effectiveness. active listening resources active listening is a vital part of the communication process. the communication process involves written communication. problem solving requires researching a variety of information sources. listen for information. demonstrate courteous attention when listening to others. follow verbal and written directions. use technology to solve problems independently and effectively. listen to and read information to create professional business documents. 9.2: Students will prepare clear, complete, concise, correct, and courteous written messages for personal and professional uses. proofreading marks stet transpose caps uppercase lowercase revisions proofreading marks are used to communicate revisions needed. clear, correct, concise, complete, consistent, and courteous documents effectively communicate a message. mistakes will undermine the credibility of written communications. use correct spelling, grammar, word and number usage, punctuation and formatting. proofread and edit business documents to ensure that they are clear, correct, concise, complete, consistent, and courteous. revise document using commonly used proofreading marks.

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