FTDM(Based off the kallavi masterfile)

FTDM PERFORMANCE INDICATORS 

Instructional Area: Business Law (BL) 2

Instructional Area: Communication Skills (CO) 4

Instructional Area: Customer Relations (CR) 7

Instructional Area: Economics (EC) 8

Instructional Area: Emotional Intelligence (EI) 10

Instructional Area: Entrepreneurship (EN) 14

Instructional Area: Financial Analysis (FI) 14

Instructional Area: Human Resources Management (HR) 17

Instructional Area: Marketing (MK) 18

Instructional Area: Information Management (NF) 19

Instructional Area: Operations (OP) 28

Instructional Area: Professional Development (PD) 32

Instructional Area: Strategic Management (SM) 35

Instructional Area: Business Law (BL) 37

Instructional Area: Customer Relations (CR) 38

Instructional Area: Financial Analysis (FI) 39

Instructional Area: Information Management (NF) 41

Instructional Area: Professional Development (PD) 42

Instructional Area: Financial-Information Management (FM) 43

Instructional Area: Risk Management (RM) 44

Instructional Area: Business Law (BL) 45

Instructional Area: Financial Analysis (FI) 45

Instructional Area: Business Law (BL)

Standard: Understands business's responsibility to know, abide by, and enforce laws and  regulations that affect business operations and transactions 

Performance Element: Acquire foundational knowledge of business laws and regulations to  understand their nature and scope. 

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

• Discuss the nature of law and sources of law in the United States (BL:067) (SP)

• Describe the United States' judicial system (BL:068) (SP) 

  • Federal

    • Supreme court- highest court of the land → determines constitutionality of federal and state laws 

      • Made up of 9 justices who are appointed by president and confirmed by senate  

    • Court of appeals- can appeal certain cases from district level 

      • Federal crimes

  • State

    • Headed by state “supreme courts” → have the power of judicial review over state laws 

    • Intermediate court of appeals

      • Jurisdiction over most cases (criminal and civil law, family law, etc.)

• Describe methods used to protect intellectual property (BL:051) (SP) 

  • Trademarks- symbol, word, or phrase that is used to identify a company's product or service from those of competitors → registered with government to provide legal protection against unauthorized users

  • Copyrights- legal rights that protect original works (literature, music, arts, etc.) →  registered with government to provide legal protection against unauthorized users

  • Patents- legal right granted to an innovator for a limited period of time in exchange for disclosing details of an invention 

  • Trade secrets- any information that is not generally known and has economic value → protected through confidentiality agreements 

  • Licensing- way to legally use another company’s intellectual property in exchange for a fee 

  • Cybersecurity measures- encryption that helps protect against unauthorized access to any electronically stored intellectual property 

• Describe legal issues affecting businesses (BL:001) (SP)

  • Businesses must comply with a wide range of laws and regulations 

    • Intellectual property- businesses must protect all intellectual property to prevent others from using their ideas without permission

    • Employment laws- Businesses must comply with employment laws → hiring, firing, discrimination, etc.

    • Taxation- Comply with tax laws and pay appropriate taxes on profits 

    • Consumer protection- Businesses must comply with consumer protection laws → laws related to product safety and advertising 

    • Contract law- Businesses must be familiar to laws surrounding contracts in order to properly enter into and engage in contracts 

    • Environmental law- Businesses must comply with laws related to pollution and waste management 

    • Securities law- Businesses that issue securities (ex. Stocks and bonds) must disclose information about their financial performance and risks 

Performance Element: Understand the civil foundations of the legal environment of business to  demonstrate knowledge of contracts. 

• Identify the basic torts relating to business enterprises (BL:069) (SP) 

  • Torts are intentionally or unintentionally committed wrongful acts that result in the injury of anothe party 

    • Business Torts: refer to civil wrongs committed by or against an organization → breach of intellectual property, unethical behavior towards clients, and more 

  • Types of Torts

    • Tortious Interference: Third-party causes a contracted party to intentionally breach an agreement 

    • Restraint of trade: Refers to the meddling with a business ability to freely run operations and make sales 

    • Injurious falsehoods: Deliberately false statements made with the intention to damage another businesses’s reputations 

    • Unfair competition: two businesses have unequal terms of either favourable or unfavourable conditions in the same market. These conditions apply to some competitors, but not all making it unfair

• Describe the nature of legally binding contracts (BL:002) (SP) 

  • An agreement made between two or more parties → enforceable by law 

  • If there is a dispute about the fundamentals of a contract a judgement will need to be made 

    • A court will decide if there has been a “Breach of Contract 

  • Parts of the Contract 

    • Offer - In the contract, there must be a definitive and clearly stated offer to do something 

    • Acceptance - Only what is offered in the contract can be accepted. Acceptance may be given in writing, verbally or inferred by action which clearly indicates agreement to carry through with the contract 

    • Intention of Legal Consequence - A contract necessitates that the parties involved are intending to enter into a legally binding agreement. All parties must acknowledge that they are obliged by law to adhere to the contract and the agreement can be enforced by law

    • Consideration -  In order for a contract to be binding, it must be reinforced by a valuable consideration. This means one party promises to do something in return for a promise from the other party to provide a benefit of value. 

Performance Element: Explore the regulatory environment of United States' businesses to  understand the diversity of regulations. 

• Describe the nature of legal procedure (BL:070) (SP) 

  • Legal procedure refers to the steps that are followed in the administration of justice in a court of law, such as how evidence is gathered and presented. They can very depending on the type of case (civil, criminal, administrative) and the jurisdiction in which the case is being heard

• Discuss the nature of debtor-creditor relationships (BL:071) (SP) 

  • Involves a legal relationship a debtor owes money to a creditor 

  • Governed by contractual agreements, including loan terms, repayment schedules, and interest rates 

  • Regulated by laws like the Fair Debt Collection Practices Act (FDCPA) to protect debtors from unethical practices 

  • Includes secured and unsecured debts → (impacting creditors ability to claim collateral) 

• Explain the nature of agency relationships (BL:072) (SP) 

  • Created when a principal authorizes an agent to act on their behalf 

  • The agent owes fiduciary duties to the principal, including loyalty, care and obedience 

  • Can be established formally (written contracts) or informally (verbal agreements) 

  • Examples include employer – employee, real estate agents, or business partnerships 

• Discuss the nature of environmental law (BL:073) (SP) 

  • Regulates business activities to protect natural resources and public health 

  • Includes laws like the Clean Air Act, Clean Water Act, and Inflation Reduction Act 

  • Imposes penalties for violations such as pollution or improper waste disposal 

  • Encourage sustainable practices through compliance incentives and environmental permits 

• Discuss the role of administrative law (BL:074) (SP) 

  • Govern the operations of administrative agencies at local, state, and federal levels 

  • Ensures businesses comply with regulations such as licensing, labor standards, and tax requirements 

  • Provides a framework for business to challenge unfair regulatory decisions 

  • Examples include OSHA for workplace safety and the SEC for securities regulations 

Performance Element: Apply knowledge of business ownership to establish and continue  business operations. 

• Explain types of business ownership (BL:003) (CS) 

  • Sole Proprietorship: Owned by one person, simple to start, full control, unlimited liability 

  • Partnership: Two or more owners, shared profits and responsibilities, unlimited liability for general partners 

  • Corporation: Separate legal entity, limited liability for shareholders, complex structure, double taxation 

  • LLC (Limited Liability Company): Combines benefits of corporations (limited liability) and partnership (flexibility) 

  • Franchise: License to operate under an established brand, requires adherence to franchisor guidelines

Performance Element: Acquire knowledge of commerce laws and regulations to continue  business operations. 

• Explain the nature of import/export law (BL:145) (SP) 

  • Governs international trade to ensure compliance with tariffs, quotas, and trade agreements 

  • Requires businesses to follow regulations outlined in trade agreements like USMCA

  • Promotes fair trade practices while protecting domestic industries 

• Describe the nature of customs regulations (BL:126) (SP)

  • Control the import and export of goods across the border 

  • Require businesses to declare shipments, pay duties, and comply with product standards 

  • Enforced by agencies like the US Customs and Border Protection 

Instructional Area: Communication Skills (CO)

Standard: Understands the concepts, strategies, and systems used to obtain and convey ideas  and information 

Performance Element: Read to Acquire Meaning from Written Material and Apply the Information to a Task

• Identify sources that provide relevant, valid written material (CO:054) (PQ)

  • Identify reliable sources such as academic journals, government reports, industry publications, or reputable news outlets that provide relevant and factual written material.

• Extract relevant information from written materials (CO:055) (PQ)

  • Review written materials and highlight key information, focusing on data, facts, or concepts directly relevant to the task at hand.

• Apply written directions to achieve tasks (CO:056) (PQ)

  • Follow clear, detailed instructions from written materials to complete tasks, ensuring accuracy in execution.

• Analyze company resources to ascertain policies and procedures (CO:057) (CS)

  • Review internal documents, employee handbooks, and company guidelines to understand policies, procedures, and operational protocols within an organization.

Performance Element: Apply Active Listening Skills to Demonstrate Understanding of What Is Being Said

Explain communication techniques that support and encourage a speaker (CO:082) (PQ):

• Use positive body language, feedback, and paraphrasing to encourage a speaker, showing active engagement and understanding.

Follow oral directions (CO:119) (PQ):

• Listen carefully and follow verbal instructions, ensuring that all tasks are carried out as directed.

Demonstrate active listening skills (CO:017) (PQ):

• Pay close attention to the speaker, avoid interruptions, and provide feedback to show understanding, such as nodding or asking clarifying questions.

Performance Element: Apply Verbal Skills to Obtain and Convey Information

Explain the nature of effective verbal communications (CO:147) (PQ):

• Effective verbal communication involves clarity, conciseness, appropriate tone, and active listening to ensure the message is understood.

Ask relevant questions (CO:058) (PQ):

• Ask open-ended questions that encourage detailed responses and help obtain the information needed to make decisions.

Interpret others' nonverbal cues (CO:059) (PQ):

• Pay attention to body language, facial expressions, and tone to gauge feelings or intentions beyond spoken words.

Provide legitimate responses to inquiries (CO:060) (PQ):

• Respond to questions with accurate, relevant, and clear information, demonstrating knowledge and competence.

Give verbal directions (CO:083) (PQ):

• Provide clear, concise, and actionable instructions to ensure tasks are understood and executed correctly.

Employ communication styles appropriate to target audience (CO:084) (CS):

• Adapt language, tone, and delivery based on the audience's knowledge, preferences, and expectations, ensuring effective communication.

Defend ideas objectively (CO:061) (CS):

• Present facts and logical reasoning to defend ideas or positions, avoiding emotional bias or unnecessary conflict.

Handle telephone calls in a businesslike manner (CO:114) (CS):

• Answer calls professionally, with a clear, polite tone, and convey necessary information accurately and efficiently.

Participate in group discussions (CO:053) (CS):

• Actively contribute to group discussions, offering ideas, asking questions, and providing constructive feedback.

Facilitate (lead) group discussions (CO:201) (SP):

• Take charge of discussions, guiding conversations, ensuring participation, and keeping the group focused on the topic.

Make oral presentations (CO:025) (SP):

• Prepare and deliver clear, persuasive, and well-structured presentations that engage the audience and effectively convey the message.

Performance Element: Record Information to Maintain and Present a Report of Business Activity

•  Utilize note-taking strategies (CO:085) (CS)

  • Use effective note-taking techniques like outlining, summarizing, or using abbreviations to capture key points from meetings, lectures, or discussions.

• Organize information (CO:086) (CS)

  • Group related information logically to make it easier to understand, analyze, and reference.

• Select and use appropriate graphic aids (CO:087) (CS)

  • Choose suitable charts, graphs, or visual aids to represent data and make complex information easier to digest.

Performance Element: Write Internal and External Business Correspondence to Convey and Obtain Information Effectively

• Explain the nature of effective written communications (CO:016) (CS)

  • Effective written communication is clear, concise, well-structured, and free from errors, ensuring the reader understands the message.

• Select and utilize appropriate formats for professional writing (CO:088) (CS)

  • Choose the correct format for letters, reports, emails, or memos based on the purpose and audience of the communication.

• Edit and revise written work consistent with professional standards (CO:089) (CS)

  • Review written materials for clarity, grammar, and formatting, making revisions to ensure the message is clear and professional.

• Write professional emails (CO:090) (CS)

  • Draft concise, respectful, and clear emails that maintain a professional tone and convey the necessary information.

• Write business letters (CO:133) (CS)

  • Create formal letters following proper etiquette, including salutation, body, and closing, and adapting the tone to the purpose of the letter.

• Write informational messages (CO:039) (CS)

  • Compose clear and factual messages that provide necessary information without unnecessary detail.

• Write inquiries (CO:040) (CS)

  • Write clear and direct inquiries when seeking information or clarification from others.

• Write persuasive messages (CO:031) (SP)

  • Develop messages that aim to persuade or motivate the audience to take action, backed by logical arguments and evidence.

• Write executive summaries (CO:091) (SP)

  • Summarize key findings or recommendations from detailed reports in a brief, clear, and accessible format.

• Prepare simple written reports (CO:094) (SP)

  • Write concise reports that outline key information, findings, and conclusions, focusing on clarity and brevity.

• Explain how digital communications (e.g., email, text messages, chats) exposes business to risk (CO:202) (SP)

  • Digital communication can expose businesses to risks such as data breaches, miscommunication, or security threats.

• Adapt written correspondence to targeted audiences (CO:203) (SP)

  • Tailor the tone, language, and complexity of written messages based on the recipient’s role, understanding, and needs.

• Use data visualization techniques (e.g., infographics, heat maps, dynamic model outputs) (CO:204) (SP)

  • Implement data visualization tools to present complex data in a visually engaging and easily understandable format.

Performance Element: Use Social Media to Communicate with a Business's Stakeholders

• Describe the impact of a person's social media brand on the achievement of organizational objectives (CO:205) (CS)

  • A strong, professional social media presence can positively impact brand image, customer trust, and organizational success.

• Distinguish between using social media for business and personal purposes (CO:206) (CS)

  • Business social media is used for professional communication, marketing, and customer engagement, while personal social media is for individual expression and communication.

Performance Element: Communicate with Staff to Clarify Workplace Objectives

• Explain the nature of staff communication (CO:014) (CS)

  • Staff communication involves the exchange of information between management and employees to ensure clarity of goals, tasks, and expectations.

• Choose and use appropriate channel for workplace communication (CO:092) (CS):

  • Select the right communication method (email, meetings, instant messaging, etc.) based on urgency, complexity, and audience.

• Participate in a staff meeting (CO:063) (CS):

  • Actively engage in staff meetings by contributing ideas, asking relevant questions, and listening to feedback.

• Participate in problem-solving groups (CO:067) (CS):

  • Collaborate with team members to find solutions to challenges, offering creative ideas and supporting collective decision-making.

Instructional Area: Customer Relations (CR)

Performance Element: Foster Positive Relationships with Customers to Enhance Company Image

• Explain the nature of positive customer relations (CR:003) (CS):

  • Building trust-based, long-term relationships

  • Exceeding customer expectations consistently

  • Providing personalized experiences

  • Handling complaints gracefully and respectfully

• Demonstrate a customer service mindset (CR:004) (CS):

  • Adopting a customer-centric approach

  • Anticipating and resolving issues proactively

  • Showing empathy, patience, and understanding

  • Making customers feel heard and valued

• Develop rapport with customers (CR:029) (CS):

  • Building personal connections beyond transactions

  • Engaging in genuine conversation and active listening

  • Remembering personal details to personalize service

  • Maintaining professionalism while being friendly

• Reinforce service orientation through communication (CR:005) (CS):

  • Using positive language and active listening

  • Providing clear, concise, and helpful responses

  • Demonstrating care and commitment to customer satisfaction

  • Aligning communication with company’s service goals

• Respond to customer inquiries (CR:006) (CS):

  • Providing timely and accurate information

  • Ensuring clarity in responses

  • Offering additional support or resources when needed

• Adapt communication to the cultural and social differences among clients (CR:019) (CS):

  • Understanding and respecting cultural and social backgrounds

  • Adjusting communication style to ensure inclusivity

  • Ensuring messages are clear and respectful across diverse audiences

• Interpret business policies to customers/clients (CR:007) (CS):

  • Explaining company policies in simple, understandable terms

  • Ensuring transparency while maintaining a positive tone

  • Addressing concerns and clarifying ambiguities as needed

• Build and maintain relationships with customers (CR:030) (SP):

  • Developing ongoing relationships through consistent engagement

  • Offering personalized service to show customers they are valued

  • Demonstrating reliability and commitment to customer satisfaction

Performance Element: Resolve Conflicts with/for Customers to Encourage Repeat Business

• Handle difficult customers (CR:009) (CS):

  • Remaining calm and composed during stressful interactions

  • Actively listening to concerns and empathizing with frustrations

  • Seeking win-win solutions and offering alternatives

• Handle customer/client complaints (CR:010) (CS):

  • Addressing complaints promptly and with empathy

  • Investigating the issue thoroughly and offering solutions

  • Maintaining a positive tone even when dealing with difficult situations

Performance Element: Reinforce Company’s Image to Exhibit the Company’s Brand Promise

• Identify company’s brand promise (CR:001) (CS):

  • Understanding and articulating the company’s core mission, values, and commitments

  • Recognizing how the brand promise aligns with customer expectations

• Determine ways of reinforcing the company’s image through employee performance (CR:002) (CS):

  • Ensuring employees align their actions with the company’s brand values

  • Providing consistent service that upholds the company’s reputation

Performance Element: Understand the Nature of Customer Relationship Management to Show Its Contributions to a Company

• Discuss the nature of customer relationship management (CR:016) (SP):

  • CRM involves using strategies, practices, and technologies to manage and analyze customer interactions

  • CRM helps improve customer satisfaction, loyalty, and retention

• Explain the role of ethics in customer relationship management (CR:017) (SP):

  • Ethical practices in CRM involve transparency, honesty, and respect for customer privacy

  • Building long-term trust through ethical behavior in all customer interactions

• Describe the use of technology in customer relationship management (CR:018) (SP):

  • Using CRM software to track customer interactions, preferences, and purchasing behaviors

  • Leveraging technology to provide personalized experiences and efficient customer service

Instructional Area: Economics (EC)

Standard: Understands the economic principles and concepts fundamental to business  operations 

Performance Element: Understand Fundamental Economic Concepts to Obtain a Foundation for Employment in Business

• Distinguish between economic goods and services (EC:002) (CS):

  • Economic goods are tangible items that satisfy needs or wants.

  • Services are intangible actions or performances that meet the needs of consumers.

• Explain the concept of economic resources (EC:003) (CS):

  • Economic resources include land, labor, capital, and entrepreneurship that are used to produce goods and services.

• Describe the concepts of economics and economic activities (EC:001) (CS):

  • Economics studies how resources are allocated to satisfy needs and wants.

  • Economic activities involve production, distribution, and consumption of goods and services.

• Determine economic utilities created by business activities (EC:004) (CS):

  • Economic utilities include form, time, place, and possession utility, created by business activities to add value to products for consumers.

• Explain the principles of supply and demand (EC:005) (CS):

  • Supply and demand determine market prices and quantities of goods and services.

  • An increase in demand, with constant supply, leads to higher prices; an increase in supply, with constant demand, leads to lower prices.

• Describe the functions of prices in markets (EC:006) (CS):

  • Prices act as signals to allocate resources, balancing supply and demand.

  • Prices help businesses make decisions about what and how much to produce.

Performance Element: Understand the Nature of Business to Show Its Contributions to Society

• Explain the role of business in society (EC:070) (CS):

  • Businesses provide goods, services, and jobs that meet the needs of society.

  • They contribute to economic development, innovation, and social welfare.

• Describe types of business activities (EC:071) (CS):

  • Types of business activities include production, marketing, finance, and human resources.

• Describe types of business models (EC:138) (SP):

  • Business models can include direct sales, subscription-based, franchising, and e-commerce.

• Explain the organizational design of businesses (EC:103) (SP):

  • Organizational design includes structures like hierarchical, flat, and matrix to define roles, responsibilities, and workflows.

• Discuss the global environment in which businesses operate (EC:104) (SP):

  • Businesses operate in a global market influenced by international trade, cultural differences, and global competition.

• Describe factors that affect the business environment (EC:105) (SP):

  • Factors include economic conditions, technology, competition, regulations, and consumer behavior.

• Explain the nature of business ethics (EC:106) (SP):

  • Business ethics refer to moral principles guiding business operations, including honesty, fairness, and respect.

• Explain how organizations adapt to today's markets (EC:107) (SP):

  • Organizations adapt by embracing innovation, diversifying products, and responding to consumer demands.

Performance Element: Understand Economic Systems to Recognize the Environments in Which Businesses Function

• Explain the types of economic systems (EC:007) (CS):

  • Economic systems include market economies, command economies, and mixed economies, each with different levels of government control and market freedom.

• Identify the impact of small business/entrepreneurship on market economies (EC:065) (CS):

  • Small businesses and entrepreneurs stimulate innovation, create jobs, and drive economic growth.

• Explain the concept of private enterprise (EC:009) (CS):

  • Private enterprise refers to businesses owned and operated by private individuals or groups, focusing on profit-making.

• Identify factors affecting a business's profit (EC:010) (CS):

  • Factors include revenue generation, cost management, market competition, and economic conditions.

• Determine factors affecting business risk (EC:011) (CS):

  • Factors include market volatility, competition, regulations, and technological changes.

• Explain the concept of competition (EC:012) (CS):

  • Competition refers to the rivalry between businesses to offer better products, services, or prices to attract consumers.

Performance Element: Acquire Knowledge of the Impact of Government on Business Activities to Make Informed Economic Decisions

• Determine the relationship between government and business (EC:008) (CS):

  • Government influences business through regulations, taxation, subsidies, and monetary policy.

• Describe the nature of taxes (EC:072) (SP):

  • Taxes are levies imposed by governments on businesses to fund public services and infrastructure.

Performance Element: Analyze Cost/Profit Relationships to Guide Business Decision-Making

• Explain the concept of productivity (EC:013) (CS):

  • Productivity measures the efficiency of production, calculated as output per unit of input.

• Analyze impact of specialization/division of labor on productivity (EC:014) (SP):

  • Specialization and division of labor increase productivity by allowing workers to focus on specific tasks, reducing time and effort.

• Explain the concept of organized labor and business (EC:015) (SP):

  • Organized labor involves workers joining unions to negotiate collectively for better wages, benefits, and working conditions.

• Explain the impact of the law of diminishing returns (EC:023) (SP):

  • The law of diminishing returns states that, after a certain point, adding more of one factor of production while holding others constant will result in smaller increases in output.

Performance Element: Understand Economic Indicators to Recognize Economic Trends and Conditions

• Discuss the measure of consumer spending as an economic indicator (EC:081) (SP):

  • Consumer spending reflects economic health, with increased spending indicating strong economic activity.

• Describe the economic impact of inflation on business (EC:083) (SP):

  • Inflation erodes purchasing power and may increase production costs, impacting profit margins.

• Explain the concept of Gross Domestic Product (GDP) (EC:017) (SP):

  • GDP is the total market value of all goods and services produced in a country over a period, used to measure economic health.

• Discuss the impact of a nation's unemployment rates (EC:082) (SP):

  • High unemployment may indicate economic downturns, reducing consumer spending and productivity.

• Explain the economic impact of interest-rate fluctuations (EC:084) (SP):

  • Rising interest rates increase borrowing costs, reducing business investments and consumer spending.

• Determine the impact of business cycles on business activities (EC:018) (SP):

  • Business cycles, including expansion, peak, contraction, and trough, affect business operations, profitability, and market conditions.

Performance Element: Understand Global Trade's Impact to Aid Business Decision-Making

• Explain the nature of global trade (EC:016) (SP):

  • Global trade involves the exchange of goods and services across international borders, contributing to economic growth.

• Discuss the impact of globalization on business (EC:109) (SP):

  • Globalization increases market access, competition, and innovation, but also presents challenges related to cultural differences and market saturation.

• Describe the determinants of exchange rates and their effects on the domestic economy (EC:100) (SP):

  • Exchange rates are influenced by interest rates, inflation, and market speculation, impacting international trade and business costs.

• Explain cultural considerations that impact global business relations (EC:110) (SP):

  • Cultural differences affect communication, negotiation, and business strategies in international markets.

• Discuss the impact of cultural and social environments on global trade (EC:045) (SP):

  • Cultural and social factors influence consumer preferences, demand, and international trade policies.

• Describe the impact of electronic communication tools (e.g., Internet, video- and computer conferencing, webcasts, email) on global business activities (EC:111) (SP):

  • Electronic communication tools enable businesses to collaborate globally, reducing costs and enhancing efficiency.

• Explain the impact of major trade alliances on business activities (EC:112) (SP):

  • Trade alliances, such as the EU or NAFTA, promote free trade, reducing barriers and expanding market opportunities.

• Describe the impact of the political environment on world trade (EC:113) (SP):

  • Political stability, policies, and regulations affect trade relationships and business operations globally.

• Explain the impact of geography on world trade (EC:114) (SP):

  • Geographic factors, such as location and access to resources, influence trade patterns and business operations.

• Describe the impact of a country's history on world trade (EC:115) (SP):

  • Historical events, such as colonization and trade agreements, shape a country's trade relations and policies.

• Explain the impact of a country's economic development on world trade (EC:116) (SP):

  • A country's level of economic development affects its trade capacity, industrialization, and consumer markets.

• Discuss the impact of bribery and foreign monetary payments on business (EC:140) (SP):

  • Bribery and improper payments can lead to legal issues, tarnish reputations, and disrupt trade relations.

• Identify requirements for international business travel (e.g., passport, visa, proof of citizenship, immunizations, and sponsorship letters) (EC:141) (SP):

  • International business travel requires documentation and compliance with country-specific regulations for entry and stay.

Instructional Area: Emotional Intelligence (EI)

Standard: Understands techniques, strategies, and systems used to foster self-understanding and  enhance relationships with others 

Performance Element: Foster self-understanding to recognize the impact of personal feelings on  others. 

• Describe the nature of emotional intelligence (EI:001) (PQ) 

  • Ability to recognize and understand emotions in oneself and others 

  • Self awareness, self-regulation, empathy, motivation, social skills 

  • Essential for effective communication and relationship building in business settings 

• Explain the concept of self-esteem (EI:016) (PQ) 

  • Refers to an individual’s overall sense of self-worth or value 

  • High self-esteem contributes to confidence and resilience in the workplace 

  • Important for maintaining a positive attitude and productive behavior 

• Recognize and overcome personal biases and stereotypes (EI:017) (PQ) 

  • Personali biases are unconscious preferences (implicit bias) that can affect decision-making 

  • Overcoming this behavior involves self-awareness, and conscious efforts to treat others fairly 

• Assess personal strengths and weaknesses (EI:002) (PQ) 

  • Identify, skills, knowledge, and traits that contribute to success

  • Recognize areas for improvement to foster personal and professional growth 

  • Use tools like SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to evaluate yourself objectively

• Assess personal behavior and values (EI:126) (PQ) 

  • Reflect on actions and decisions to determine if they align with core values

  • Consistency in behavior builds trust and credibility 

  • Helps identify areas for ethical and emotional improvement 

Performance Element: Develop personal traits to foster career advancement. 

• Identify desirable personality traits important to business (EI:018) (PQ) 

  • Traits include reliability, adaptability, empathy, initiative, and perseverance

• Exhibit self-confidence (EI:023) (PQ) 

  • Positive traits foster teamwork, leadership, and customer relationships 

• Demonstrate interest and enthusiasm (EI:020) (PQ) 

  • Confidence involves trusting your abilities and judgement 

• Demonstrate initiative (EI:024) (PQ)

  • Displaying genuine interest motivates others and fosters engagement → boost team morale 

  • Enthusiasm shows commitment to goals and creates a positive workplace environment 

Performance Element: Apply ethics to demonstrate trustworthiness. 

• Demonstrate honesty and integrity (EI:022) (PQ) 

  • Always be truthful and act with strong moral principles (even when no one is looking) 

  • Builds trust with colleagues and clients

• Demonstrate responsible behavior (EI:021) (PQ) 

  • Meet obligations, respect deadlines, and maintain accountability for your actions 

• Demonstrate fairness (EI:127) (PQ) 

  • Treat others equally and impartially, especially in decision–making and conflict resolution 

• Assess risks of personal decisions (EI:091) (PQ) 

  • Consider the potential outcomes of actions and their impact on others

• Demonstrate ethical work habits (EI:004) (PQ) 

  • Consistently follow workplace policies and maintain professionalism

• Take responsibility for decisions and actions (EI:075) (PQ) 

  • Acknowledge mistakes and learn from them to build credibility

• Build trust in relationships (EI:128) (CS) 

  • Show reliability, openness, and consistency in interactions with others 

• Describe the nature of ethics (EI:123) (CS) 

  • Ethics are the principles that guide moral behavior and decision-making 

• Explain reasons for ethical dilemmas (EI:124) (CS) 

  • Ethical dilemmas arise when conflicting values or interests require a difficult chouce

• Recognize and respond to ethical dilemmas (EI:125) (CS) 

  • Analyze the situation, consider alternatives, and chose=ose the most ethical course of actions

• Manage commitments in a timely manner (EI:077) (CS) 

  • Ensure tasks and responsibilities are completed as promised 

• Develop tolerance for ambiguity (EI:092) (CS) 

  • Adapt to uncertainty and handle complex and unclear situations calmly and effectively 

Performance Element: Exhibit techniques to manage emotional reactions to people and  situations. 

• Exhibit a positive attitude (EI:019) (PQ) 

  • Focus on solutions, remain optimistic, and inspire confidence in others

• Demonstrate self-control (EI:025) (PQ) 

• Explain the use of feedback for personal growth (EI:003) (PQ) 

  • Constructive feedback helps identify areas for improvement and set development goals 

• Adjust to change (EI:026) (PQ) 

  • Stay flexible and open-minded when adapting to new circumstances

Performance Element: Identify with others' feelings, needs, and concerns to enhance  interpersonal relations. 

• Respect the privacy of others (EI:029) (PQ) 

  • Avoid sharing personal or confidential information without consent

  • Creates a sense of trust and respect in personal and professional relationships

• Show empathy for others (EI:030) (PQ) 

  • Understand and share the feelings of others to build rapport

  • Actively listen and validate their experience to foster mutual respect

• Maintain the confidentiality of others (EI:103) (CS) 

  • Keep sensitive information secure and limit access to those who need it 

  • Demonstrates professionalism and ethical responsibility 

• Exhibit cultural sensitivity (EI:033) (CS) 

  • Respect and acknowledge the diverse backgrounds of others 

  • Adapt communication and behavior to avoid offending or alienating individuals 

• Leverage personality types in business situations (EI:104) (SP) 

  • Understand different personality traits to improve collaboration and team dynamics 

Performance Element: Use communication skills to foster open, honest communications. 

• Explain the nature of effective communications (EI:007) (PQ) 

  • Effective communication is clear, concise, and adapted to the audience 

  • Includes verbal, non-verbal, and written communication skills

• Explain ethical considerations in providing information (EI:038) (SP) 

  • Ensure accuracy and transparency when sharing information 

  • Avoid withholding or distorting information to maintain integrity

• Foster open, honest communication (EI:129) (SP) 

  • Create an environment where people feel safe sharing ideas and concerns 

  • Encourage transparency and active listening 

• Collaborate with others (EI:130) (SP) 

  • Work jointly with team members toward share goals 

  • Use constructive feedback and compromise to enhance teamwork

• Solicit feedback (EI:106) (SP) 

  • Actively seek input from others to improves processes and personal performance

  • Shows openness to growth and adaptability 

• Use social media to solicit new ideas and solutions (EI:107) (SP)

  • Leverage platforms to engage with diverse audiences and crowdsourcing insights 

  • Use ethical guidelines to avoid misrepresentation or misuse of data 

Performance Element: Use communication skills to influence others. 

• "Sell" ideas to others (EI:108) (SP) 

  • Present ideas persuasively by highlighting benefits and addressing potential concerns 

  • Tailor your pitch to the audience’s needs and interests (customer segmentation) 

• Persuade others (EI:012) (SP) 

  • Use logical reasoning, evidence and emotional appeal to influence decisions 

  • Build credibility through knowledge and confidence

• Demonstrate negotiation skills (EI:062) (SP) 

  • Resolve differences by finding mutually beneficial solutions 

  • Focus on listening, compromise, and clear communication 

Performance Element: Manage stressful situations to minimize potential negative impact. 

• Use appropriate assertiveness (EI:008) (PQ) 

  • Stand up for your rights or opinions respectfully without aggression 

  • Helps in setting boundaries and resolving conflicts effectively 

• Use conflict-resolution skills (EI:015) (CS) 

  • Identify the root cause of conflicts and work collaboratively to resolve them 

  • Focus on active listening and finding common ground 

• Explain the nature of office politics (EI:109) (CS) 

  • Office politics involve the informal, behind-the-scenes dynamics in workplace relationships 

  • Navigating politics requires tact, networking, and ethical behavior 

• Overcome problems and difficulties associated with office politics/turf wars (EI:095) (CS) 

  • Focus on collaboration and transparency to reduce competition and friction 

  • Priortizie organizational goals over personal interests 

• Explain the nature of stress management (EI:028) (SP) 

  • Techniques include time management, relaxation, and seeking support 

  • Managing stress improves productivity and mental well being 

Performance Element: Implement teamwork techniques to accomplish goals. 

• Participate as a team member (EI:045) (CS) 

  • Contribute actively to group tasks and share responsibilities 

  • Respect diverse perspectives to foster collaboration 

• Use consensus-building skills (EI:011) (SP)

  • Facilitate agreement among team members by addressing differences constructively

  • Ensure that decisions reflect collective input and buy in 

• Motivate team members (EI:059) (SP) 

  • Encourage and support colleagues to achieve their best performance 

  • Recognize and reward efforts to maintain morale and productivity 

Performance Element: Employ leadership skills to achieve workplace objectives. 

• Explain the concept of leadership (EI:009) (CS) 

  • Leadership involves guiding and inspiring others toward achieving shared goals 

  • Effective leaders balance authority, empathy, and vision 

• Explain the nature of ethical leadership (EI:131) (CS) 

  • Ethical leeaders model integrity and fairness in their actions and decisions 

  • They prioritize the well-being of their team and adhere to moral principles 

• Model ethical behavior (EI:132) (CS) 

  • Demonstrate honesty, responsibility, and fairness to set a standard for others

• Determine personal vision (EI:063) (CS) 

  • Define clear goals and aspirations that align with personal and organizational values

• Inspire others (EI:133) (CS) 

  • Communicate a compelling cision and motivate others to contribute to its success

• Demonstrate adaptability (EI:006) (CS) 

  • Stay flexible and open to change in dynamic environments

• Develop an achievement orientation (EI:027) (CS) 

  • Focus on setting and achieving high standards for performance

• Challenge the status quo (EI:134) (CS) 

  • Encourage innovation by questioning traditional methods and exploring alternatives 

• Lead change (EI:005) (CS) 

  • Guide teams through transitions effectively by addressing resistance and emphasizing benefits 

• Enlist others in working toward a shared vision (EI:060) (CS) 

  • Build consensus and commitment to collective goals 

• Coach others (EI:041) (CS) 

  • Provide guidance, feedback, and support to help team members grow professionally 

• Use power appropriately (EI:135) (SP) 

  • Exercise authority responsibly to avoid misuse and maintain trust 

• Recognize/Reward others for their efforts and contributions (EI:014) (SP)

  • Acknowledge achievements to boost morale and foster a positive work environment 

Performance Element: Manage internal and external business relationships to foster positive  interactions. 

• Treat others with dignity and respect (EI:036) (PQ) 

  • Value individual differences and creat an inclusive environment

• Foster positive working relationships (EI:037) (CS) 

  • Build trust and cooperation through open communication and collaboration 

• Consider conflicting viewpoints (EI:136) (CS) 

  • Listen to diverse perspectives and integrate them into decision-making when appropriate

• Assess long-term value and impact of actions on others (EI:137) (SP) 

  • Evaluate how decisions affect relationships and organizational sustainability

• Maintain collaborative partnerships with colleagues (EI:061) (SP) 

  • Support mutual goals through shared responsibilities and respect

• Explain the impact of political relationships within an organization (EI:034) (SP) 

  • Understand how alliances and power dynamics influence workplace decision

• Explain the nature of organizational culture (EI:064) (SP) 

  • Organizational culture encompasses shared values, norms, and behaviors

• Interpret and adapt to a business's culture (EI:112) (SP) 

  • Learn and align with workplace norms to integrate successfully and contribute effectively 

Instructional Area: Entrepreneurship (EN)

Standard: Understands the concepts, processes, and skills associated with identifying new ideas,  opportunities, and methods and with creating or starting a new project or venture 

Performance Element: Understand fundamental factors about entrepreneurship to recognize its  role and importance in the economy 

• Describe the nature of entrepreneurship (EN:039) (SP) 

  • Innovation: Entrepreneurship involves identifying new ideas, products, or services that address unmet needs or improve upon existing solutions.

  • Risk-taking: Entrepreneurs assume financial and operational risks with the potential for high rewards, often in uncharted markets or sectors.

  • Problem-solving: Entrepreneurs identify challenges within society or markets and develop creative, practical solutions to address them.

  • Value creation: Entrepreneurs generate value by creating businesses that provide employment, stimulate economic growth, and contribute to social welfare.

  • Economic driver: Entrepreneurship drives economic growth by fostering competition, innovation, and the development of new industries.

• Explain the role requirements of entrepreneurs and owners (EN:040) (SP) 

  • Visionary leadership: Entrepreneurs must have a clear vision for their business, guiding its growth and adapting to challenges.

  • Resource management: Entrepreneurs need to manage financial resources, human capital, and operational processes effectively to ensure business success.

  • Decision-making: Entrepreneurs must make strategic decisions under uncertainty, balancing risks and rewards.

  • Networking and collaboration: Building strong relationships with stakeholders, investors, and partners is essential to drive business growth and secure resources.

  • Adaptability: Entrepreneurs must remain flexible and adapt to changing market conditions, customer needs, and technological advancements.

• Describe the use of business ethics in entrepreneurship (EN:044) (SP) 

  • Integrity: Entrepreneurs must conduct business with honesty, transparency, and fairness, fostering trust with customers, investors, and employees.

  • Social responsibility: Ethical entrepreneurship involves considering the social and environmental impacts of business practices, ensuring that the company contributes positively to society.

  • Compliance: Entrepreneurs must adhere to legal and regulatory requirements in all aspects of business, from taxation to employee rights.

  • Fair competition: Ethical entrepreneurs maintain fair business practices, avoiding deceptive advertising or monopolistic behavior.

  • Long-term perspective: Business ethics encourage decisions that benefit the company in the long term, even if they may require short-term sacrifices or involve higher operational costs.

• Describe small-business opportunities in international trade (EN:041) (SP)

  • Global market expansion: Small businesses can tap into international markets by exporting goods or services, broadening their customer base and revenue streams.

  • Exporting and importing: Entrepreneurs can explore opportunities in the import and export of products, taking advantage of lower production costs or unmet demand in foreign markets.

  • International partnerships: Small businesses can collaborate with international distributors, suppliers, or partners to enhance their market reach and efficiency.

  • E-commerce: The growth of online platforms enables small businesses to market and sell products globally, overcoming geographic barriers.

  • Cultural awareness: Understanding international cultures and consumer behaviors is essential for entrepreneurs to tailor products and marketing strategies to foreign markets.

  • Trade agreements and regulations: Entrepreneurs must be aware of trade agreements, tariffs, and regulations that affect international trade and ensure compliance to avoid legal complications.

Instructional Area: Financial Analysis (FI)

Understand the Fundamental Principles of Money Needed to Make Financial Exchanges

• Explain forms of financial exchange (FI:058):

  • Cash: Physical currency used for direct payments, often preferred for small or immediate transactions.

  • Credit: Borrowed funds used to make purchases, requiring repayment with interest; builds credit history.

  • Debit: Funds directly withdrawn from a linked bank account, ensuring spending is limited to available funds.

  • Electronic Funds Transfer (EFT): A digital transfer of money between bank accounts, used in online shopping, direct deposits, and bill payments.

• Identify types of currency (FI:059):

  • Paper money and coins: Physical currency issued by governments for everyday transactions.

  • Banknotes: Promissory notes issued by financial institutions that represent legal tender.

  • Government bonds and treasury notes: Debt instruments issued by governments to raise capital, offering fixed returns to investors.

• Describe functions of money (FI:060):

  • Medium of exchange: Simplifies trade by providing a universally accepted form of payment, eliminating barter systems.

  • Unit of measure: Offers a standardized way to value goods and services for comparison.

  • Store of value: Retains purchasing power over time, allowing individuals to save and plan for future expenses.

• Describe sources of income and compensation (FI:061):

  • Employment income: Salaries, wages, and bonuses for work performed.

  • Investment income: Dividends, interest, and rental income earned from assets.

  • Government programs: Social security benefits, unemployment assistance, or welfare programs.

  • Royalties: Payments received from intellectual property or creative works.

• Explain the time value of money (FI:062):

  • Concept: Money today is more valuable than the same amount in the future due to earning potential through investments or interest.

  • Applications: Encourages early saving and investing to maximize compound growth and future purchasing power.

• Explain the purposes and importance of credit (FI:002):

  • Purposes: Enables consumers to make large purchases (e.g., cars, homes) without upfront cash.

  • Importance: Builds credit history and score, essential for securing loans, mortgages, or favorable interest rates.

  • Drives economic growth by facilitating consumer spending and investment.

• Explain legal responsibilities associated with consumer financial products and services:

  • Consumers must understand contracts, repayment terms, and interest rates before using financial products.

  • Abide by laws such as the Truth in Lending Act, ensuring transparency in credit terms.

  • Protect against fraud and misuse by monitoring accounts and safeguarding personal information.

Analyze Financial Needs and Goals to Determine Financial Requirements

• Explain the need to save and invest (FI:270):

  • Saving: Ensures a financial cushion for emergencies, unexpected expenses, or short-term goals.

  • Investing: Builds long-term wealth through market gains, diversification, and compound interest.

• Set financial goals (FI:065):

  • Define short-term goals (e.g., saving for a vacation) and long-term goals (e.g., retirement planning).

  • Use the SMART framework: Specific, Measurable, Achievable, Relevant, and Time-bound objectives.

• Develop personal budget (FI:066):

  • Track income and categorize expenses (fixed, variable, and discretionary).

  • Allocate a portion of income for savings and investments while controlling unnecessary spending.

• Determine personal net worth (FI:562):

  • Calculation: Subtract total liabilities (debts, loans) from total assets (cash, investments, real estate).

  • Purpose: Provides a snapshot of financial health and aids in planning for future financial growth.

Manage Personal Finances to Achieve Financial Goals

• Explain the nature of tax liabilities (FI:067):

  • Definition: Taxes owed to local, state, or federal governments on income, property, and sales.

  • Responsibility: Accurate tax filing and timely payment to avoid penalties and interest.

• Interpret a pay stub (FI:068):

  • Understand gross pay (total earnings), deductions (taxes, benefits), and net pay (take-home income).

  • Identify contributions to retirement plans or health insurance premiums.

• Write checks (FI:560):

  • Include details such as the date, payee name, amount in words and numbers, and signature.

  • Ensure proper documentation to track payments and avoid fraud.

• Maintain financial records (FI:069):

  • Organize bank statements, tax documents, and receipts for financial tracking and audits.

  • Use digital tools or software to streamline record-keeping.

• Balance a bank account (FI:070):

  • Reconcile account statements with personal transaction records to ensure accuracy.

  • Identify and address unauthorized charges or errors.

• Explain the nature of charitable giving (FI:567):

  • Benefits society by supporting causes and offers tax deductions for qualifying donations.

• Manage online accounts (FI:830):

  • Use secure passwords and enable two-factor authentication.

  • Monitor transactions regularly to detect fraud or unauthorized activity.

• Calculate the cost of credit (FI:782):

  • Account for interest rates, fees, and repayment schedules to determine the total cost of borrowing.

• Demonstrate the wise use of credit (FI:071):

  • Make timely payments to avoid interest and late fees.

  • Use credit sparingly and maintain a low credit utilization ratio.

• Validate credit history (FI:072):

  • Review credit reports for errors or fraudulent activity.

  • Regularly monitor credit scores to identify areas for improvement.

• Make responsible financial decisions (FI:783):

  • Evaluate needs versus wants and prioritize spending accordingly.

  • Consider long-term financial goals before making significant purchases.

• Protect against identity theft (FI:073):

  • Avoid sharing personal information unnecessarily.

  • Use secure networks for online transactions and monitor accounts regularly.

• Pay bills (FI:565):

  • Automate payments to ensure timely transactions and avoid penalties.

• Apply for a consumer loan (FI:625):

  • Evaluate terms, interest rates, and repayment schedules before applying.

  • Provide accurate financial information to increase approval chances.

• Control debt (FI:568):

  • Focus on paying off high-interest debts first and avoid accumulating unnecessary liabilities.

• Prepare personal income tax forms (FI:074):

  • Accurately report income, claim applicable deductions, and ensure compliance with tax laws.

• Discuss options for financing a college education (FI:831):

  • Explore federal student loans, private loans, scholarships, grants, and work-study programs.

• Discuss the nature of retirement planning (FI:569):

  • Contribute to employer-sponsored plans (e.g., 401(k)) or IRAs.

  • Start saving early to benefit from compounding interest.

• Explain the nature of estate planning (FI:572):

  • Prepare wills, trusts, and healthcare directives to secure beneficiaries' financial future.

☑Instructional Area: Human Resources Management (HR)

Standard: Understands the tools, techniques, and systems that businesses use to plan, staff, lead,  and organize its human resources 

Performance Element: Understand the role and function of human resources management to  obtain a foundational knowledge of its nature and scope. 

• Discuss the nature of human resources management (HR:410) (CS) 

  • Goal is to attract, retain, and develop a talented, motivated, and productive workforce 

    • Recruitment staffing- HRM identifies and attracts candidates to fill positions within the organization 

    • Employee development- HRM provides training and growth opportunities to improve employee skills and performance 

    • Compensation and benefits- HRM designs and manages employee compensation and benefit packages 

    • Employee relations- HRM manages employee relations through communication and conflict resolution 

    • Compliance to legal issues- HRM ensures compliance with labor laws and regulations 

• Explain the role of ethics in human resources management (HR:411) (SP) 

  • HRM must ensure that the organization and its employees are treated fairly and with respect 

    • Fair recruitment and selection- hiring processes are unbiased and based on merit 

    • Employee rights and welfare- make sure employees have a safe and healthy work environments

    • Confidentiality- maintaining confidentiality of employee personal information and using the information appropriately 

  • HRM must be ethical to ensure an environment where every employee feels valued, respected, and motivated 

• Describe the use of technology in human resources management (HR:412) (SP)

  • Training information technology- makes it possible for HRM to train employees and new staff members in a more efficient way 

    • Virtual classrooms make it possible to train larger number of employees at once 

  • Data Storage- HRM is able to store all necessary employee information, process paperwork faster, and safely store paperwork for an extended period of time 

  • HRM can use technology to access employee performance and get employee feedback for the betterment of organization 

Performance Element: Manage staff growth and development to increase productivity and  employee satisfaction. 

• Orient new employees (HR:360) (CS) 

  • Orientations are important to introduce employees to the business culture and ways of working and businesses should communicate its expectations and train employees on how to do their new job 

    • Provide employees with a shadowing experience 

    • Provide employees with training on how to use any equipment 

    • Training the employee in any company practices and making them familiar with rules and regulations 

    • Mentors should be assigned to the new employee for 2-4 weeks until they are familiar with their new job 

    • Tour of company along with description of company’s mission 

☑Instructional Area: Marketing (MK)

Standard: Understands the tools, techniques, and systems that businesses use to create  exchanges and satisfy organizational objectives 

Performance Element: Understand marketing's role and function in business to facilitate  economic exchanges with customers. 

• Explain marketing and its importance in a global economy (MK:001) (CS) 

  • Marketing: activities a company undertakes in order to promote the buying/selling of a good/service

    • Thought out marketing strategies are key to reaching a businesses full customer potential 

      • In a global scope businesses must take into consideration factors such as language differences and socio-cultural environments

      • Without global strategies potential customers from other countries may not be aware of your business

• Describe marketing functions and related activities (MK:002) (CS) 

  • 7 functions of marketing:

    • Marketing information management- acquiring the needed marketing information to make business decisions 

    • Financing- Securing money to finance the operation of a business 

    • Product planning- The decisions a business makes during the production and sale of a good/service 

    • Pricing- deciding the price of good/service

      • Based on competition and how much consumer is willing to pay 

    • Promotion- forms of communication to inform/persuade people about products and improving company’s personal image 

    • Selling- Breaking into the market and making product available for consumer 

    • Distribution- Deciding where product will be sold, storage of stock, and method of transport 

Performance Element: Acquire foundational knowledge of customer/client/business behavior to understand what motivates decision-making. 

• Explain factors that influence customer/client/business buying behavior (MK:014) (SP)

  • Cultural factors- Social class, religion ethnicity/race

  • Personal factors- Age, gender, lifestyle, economic stability  

  • Economic factors- Disposable income, inflation, interest rates

• Discuss actions employees can take to achieve the company's desired results (MK:015) (SP)

• Employees must align their individuals goals to the company’s best interests to ensure success 

  • Taking responsibility and ownership of their role 

  • Seeking out opportunities → willing to take risks 

  • Being open to suggestions and feedback → continuously develop knowledge 

  • Effective communication with customers, clients, etc.

  •  Take actions to ensure positive work environment 

• Demonstrate connections between company actions and results (e.g., influencing consumer buying  behavior, gaining market share, etc.) (MK:019) (SP) 

• Any action taken by a company will have a cause/effect relationship 

  • Unethical actions change customers perception of company 

  • Well thought out actions/decisions are important → improve perception 

    • Increase revenue 

    • Bring in new customers 

Instructional Area: Information Management (NF) 

Standard: Understands tools, strategies, and systems needed to access, process, maintain,  evaluate, and disseminate information to assist business decision-making 

Performance Element: Use information literacy skills to increase workplace efficiency and  effectiveness. 

• Assess information needs (NF:077) (CS) 

  • Information needs assessment → determines information needs of each customer group 

    • Creates the ability to plan the types of information products and services that will be useful 

  • Helps choose marketing techniques that are convincing to your customers 

• Obtain needed information efficiently (NF:078) (CS) 

  • Use different types of data collection methods

    • Surveys and Questionnaires 

    • Interviews 

    • Experiments 

  • Streamline Data 

    • Use Microsoft Access to store data in a database 

• Evaluate quality and source of information (NF:079) (CS) 

  • Credibility of Source

    • Verify the author’s credentials and expertise 

    • Assess the reputation of the publication or platform

  • Accuracy and Reliability 

    • Cross-check facts with multiple reliable sources 

    • Look for evidence-based data and avoid making generalizations 

  • Relevance + Timeliness

    • Ensure the information is up to date 

  • Bias 

    • Identify potential biases in the sources’s perspective 

    • Prefer sources that provide balanced and objective viewpoints 

• Draw conclusions based on information analysis (NF:278) (CS) 

  • Summarize Key Findings

    • Highlight the most relevant trends, patterns, or insights from the data 

    • Focus on information that aligns with the original objectives 

  • Establish Relationships 

    • Identify cause-and-effect relationships or correlations between variables 

    • Look for connections that inform decisions or explain outcomes 

  • Ensure logical Reasoning

    • Base conclusions on facts and evidence rather than opinions or biases 

    • Avoid overgeneralization 

  • Make Recommendations 

    • Provide actionable insights or solutions based on the conclusions 

    • Tailor recommendations to address the objectives effectively 

• Apply information to accomplish a task (NF:080) (CS) 

  • Understand Task Requirements 

    • Clearly define the objective and identify what needs to be accomplished 

    • Break down the task into manageable steps 

  • Select Relevant Information 

    • Filter data to include only the most pertinent insights for the task 

    • Ensure the chosen information is accurate and actionable 

  • Develop a Plan 

    • Create a structured approach or strategy based on the gathered information 

    • Assignm resources or tools needed to implement the plan 

  • Implement Solutions 

    • Use the information to guide decision-making and execute actions 

    • Monitor progress to ensure the task is on track 

• Store information for future use (NF:081) (CS) 

  • Organize, secure, and maintain data to ensure it is accessible and reliable for future needs

  • Identify essential information and use appropriate storage methods (physical or digital) 

  • Regular backups, retention policies, and periodic audits help maintain system’s efficiency and compliance

Performance Element: Acquire a foundational knowledge of information management to  understand its nature and scope. 

• Discuss the nature of information management (NF:110) (CS) 

  • Information Management → encompasses the practices and tools to handle information throughout its lifecycle, ensuring it is accessible, accurate, and secure 

  • Purpose

    • Support Decision-Making: Provides accurate and timely data to inform business strategies 

    • Enhance Efficiency by simplifying access to information 

    • Maintain compliance through adherence to legal, regulator, and ethical standards → corporate governance 

  • Core Components 

    • Data Collection: Gathering information from reliable sources 

    • Storage: Using physical or digital systems to secure information 

    • Distribution: Sharing information with the right stakeholders promptly

    • Maintenance: Regularly updating and auditing data to ensure relevance and accuracy

  • Key Characteristics 

    • Accessibility: Ensuring authorized users can retrieve information efficiently 

    • Security: Protecting data against unauthorized access, breaches, or loss

    • Accuracy: Maintaining data integrity to avoid errors or misinformation 

    • Scalability: Allowing systems to grow with the organization’s needs 

  • Tools and Technologies 

    • Software, databases, and cloud storage solutions can streamline information management 

• Explain the role of ethics in information management (NF:111) (SP) 

  • Privacy: Safeguards sensitive information against misuse or unauthorized access 

  • Transparency: Clearly communicates how information is collected, stored, and shared 

  • Fairness: Prevents biased or unethical use of data in decision-making 

  • Compliance: Adheres to legal standards 

  • Accountability: Holds organizations responsible for ethical breaches or misuse

• Explain legal issues associated with information management (NF:076) (SP)

Performance Element: Utilize information-technology tools to manage and perform work  responsibilities. 

• Identify ways that technology impacts business (NF:003) (PQ) 

  • Enhances communication and collaboration 

  • Improves efficiency and productivity 

  • Allows for data analysis and decision-making 

  • Facilitates global reach through e-commerce 

  • Impacts customer service and personalization 

• Explain the role of information systems (NF:083) (PQ) 

  • Supports business operations and management 

  • Manage and process data to aid decision-making 

  • Enhance communication and coordination within organizations 

  • Provide strategic advantages through the integration of processes and technologies 

• Discuss principles of computer systems (NF:084) (PQ) 

  • Fundamental components include hardware, software, and networks 

  • Focuses on processing, storage, and transmission of data 

  • Involves system architecture, algorithms, and protocols 

  • Ensures performance, reliability, and security 

• Use basic operating systems (NF:085) (PQ) 

  • Controls computer hardware and software

  • Manages resources like CPU, memory, and storage

  • Provides a user interface for interaction 

  • Ensures system stability and security 

  • Examples include: macOS, windows, and Linux 

• Describe the scope of the Internet (NF:086) (PQ) 

  • A global network connecting millions of devices 

  • Facilitates communication, information sharing, and commerce 

  • Supports websites, social media, and e-commerce platforms 

  • Encompasses a broad array of data and services 

• Demonstrate basic email functions (NF:004) (PQ) 

  • Send, receive, reply, and forward emails 

  • Manage contacts and organize messages 

  • Attach files and use CC

  • Ensure security with encryption and password protection 

• Demonstrate personal information management/productivity applications (NF:005) (PQ) 

  • Use application for calendars, task lists, and reminders 

  • Manage documents and files 

  • Synchronize data across devices 

  • Enhance productivity with collaboration tools 

• Demonstrate basic web-search skills (NF:006) (PQ) 

  • Use search engines effectively → Google, Yahoo, Edge, etc 

  • Apply keywords and filters to find relevant information 

  • Evaluate sources for credibility 

  • Cite information correctly 

• Demonstrate basic word processing skills (NF:007) (PQ) 

  • Design slides with text, images, and multimedia

  • Using transitions, animations, and themes 

  • Practice effective delivery and timing 

  • Export presentations for different formats 

• Demonstrate basic presentation applications (NF:008) (PQ) 

  • Design slides with text, images, and multimedia

  • Use transitions, animations, and themes 

  • Practice effective delivery and timing 

  • Export presentations for different formats 

• Demonstrate basic database applications (NF:009) (PQ) 

  • Create and manage tables, records, and queries 

  • Use filters and sort functions 

  • Perform data entry, modification, and deletion

  • Export data and run basic reports 

• Demonstrate basic spreadsheet applications (NF:010) (PQ) 

  • Create and format spreadsheets 

  • Perform calculations using formulas and functions 

  • Use charts and graphs to visualize data 

  • Manage data for analysis and reporting 

  • Excel and Google Sheets 

• Use an integrated business software application package (NF:088) (CS) 

  • Combine various business functions like Customer Relationship Management, accounting, and project management 

  • Integrate data across departments 

  • Streamline processes and improve efficiency 

  • Support decision-making with real-time data 

• Demonstrate collaborative/groupware applications (NF:011) (CS) 

  • Use tools for communication and collaboration (email, chat, video conferencing) 

  • Share documents and track changes

  • Coordinate tasks and projects 

  • Foster teamwork and interaction among team members 

• Create and post basic web page (NF:042) (CS) 

  • Use HTML and CSS to design a webpage with text, images, and links 

  • Publish and host web pages online 

  • Ensure basic functionality and aesthetics 

• Collaborate on and aggregate complex internal documents to create a common voice (NF:215) (SP) 

  • Merge information from multiple sources 

  • Standardize formats and language 

  • Ensures consistency and accuracy 

  • Facilitate clear communication across teams 

Performance Element: Maintain business records to facilitate business operations. 

• Describe the nature of business records (NF:001) (SP) 

  • Business records are documents that capture critical information about business activities 

  • Includes financial transactions, contracts, customer data, employee records, and sales data 

  • Serves as legal proof and a historical reference → FEC Governance 

  • Helps in monitoring business performance, compliance, and decision-making 

  • Must be accurate, up-to-date, and organized for easy retrieval and analysis 

• Maintain customer records (NF:002) (SP) 

  • Involves collecting, storing, and managing information about customers

  • Includes personal details, purchase history, communication preferences and feedback

  • Ensures that customer service is personalized and effective 

  • Supports targeted marketing and sales strategies → Customer Relations Management 

  • Needs regular updates to reflect changes in customer preferences and interactions 

Performance Element: Acquire information to guide business decision-making. 

• Describe current business trends (NF:013) (SP) 

  • Identifies key patterns and changes in the business environment 

  • Covers areas such as market demand, technological advancements, regulatory changes, and economic shifts

  • Helps businesses to adapt strategies and seize opportunities 

  • Involves analyzing data, conducting surveys, and staying updated with industry news 

  • Supports strategic planning and risk management 

• Monitor internal records for business information (NF:014) (SP) 

  • Regularly review records to track business performance 

  • Included financial statements, inventory reports, and performance metrics 

  • Identifies trends, anomalies, and areas for improvement 

  • Facilitates decision-making based on current data 

  • Ensures compliance with internal policies and external regulations 

• Conduct an environmental scan to obtain business information (NF:015) (SP)

  • Involves gathering data from external sources that may affect the business 

  • Includes analyzing competitors, market trends, customer needs, and regulatory changes 

  • Uses tools like SWOT analysis (Strengths, Weaknesses, Opportunities, Threats)

• Interpret statistical findings (NF:093) (SP) 

  • Data analysis → option useful and usable information 

    • Determine what data is needed so that the correct data is collected

      • Because of large amounts of data, data is grouped and statistically analyzed (using mean, median, mode, standard deviation, etc.)

    • Interpretation- attaching meaning to the collected information determining conclusions and significance of data 

      • Stakeholders interpret data from various perspectives 

      • Often focus on outlying data → lead to useful insights 

• Translate research findings into actionable business recommendations (NF:216) (SP)

Performance Element: Create and access databases to acquire information for business decision making. 

• Explain the principles of data analysis (NF:139) (SP) 

• Explain the nature of tools that can be used to access information in the database system (NF:140)  (SP) 

• Access information in the database system (NF:141) (SP)

Performance Element: Apply data mining methods to acquire pertinent information for business  decision-making. 

• Discuss the nature of data mining (NF:148) (CS) 

• Describe data mining tools and techniques (NF:149) (SP) 

• Discuss the importance of ethics in data mining (NF:150) (SP) 

• Demonstrate basic data mining techniques (NF:151) (SP) 

• Interpret data mining findings (NF:152) (SP) 

Instructional Area: Operations (OP)

Standard: Understands the processes and systems implemented to monitor, plan, and control the  day-to-day activities required for continued business functioning 

Performance Element: Understand operation's role and function in business to value its  contribution to a company. 

• Explain the nature of operations (OP:189) (CS) 

  • Operations involve the processes and systems that convert inputs into products or services 

  • Key functions include procurement, production, quality control, and logistics

  • Operations ensure efficient business functioning profitability and customer satisfaction

• Discuss the role of ethics in operations (OP:190) (SP) 

  • Ethics guide decision-making, ensuring fairness, honesty, and integrity

  • Responsible operations improve reputation, reduce legal risks, and promote long-term success

  • Focuses on environmental sustainability, fair labor practices, and transparency

• Describe the use of technology in operations (OP:191) (SP) 

  • Technology streamlines operations through automation, data analytics, and inventory management systems

  • Enhances productivity, reduces errors, and enables real-time decision-making

  • Technologies such as ERP systems, AI, and IoT improve process control and resource optimization

Performance Element: Adhere to health and safety regulations to support a safe work  environment. 

• Describe health and safety regulations in business (OP:004) (PQ) 

  • Regulations include OSHA standards, worker's compensation, and environmental health laws

  • Businesses must provide safe working conditions, proper training, and health insurance

  • Violations can result in fines, accidents, and legal liability

• Report noncompliance with business health and safety regulations (OP:005) (PQ) 

  • Noncompliance should be immediately reported to management or regulatory bodies

  • Ensures corrective actions are taken to protect workers and avoid legal issues

Performance Element: Implement safety procedures to minimize loss. 

• Follow instructions for use of equipment, tools, and machinery (OP:006) (PQ) 

  • Ensures correct and safe operation, minimizing accidents and damages

  • Provides necessary training to employees for proper tool and machinery use

• Follow safety precautions (OP:007) (PQ) 

  • Includes using protective equipment (PPE), adhering to safety signs, and reporting hazards

  • Reduces risks of injury and promotes a culture of safety within the organization

• Maintain a safe work environment (OP:008) (CS) 

  • Regular inspections and hazard assessments help identify and eliminate potential risks

  • Ensures all employees are trained on emergency procedures and safe work practices

• Explain procedures for handling accidents (OP:009) (CS) 

  • Involves immediate response (e.g., first aid, notifying emergency services)

  • Documents incidents to improve future safety measures and comply with reporting regulations

• Handle and report emergency situations (OP:010) (CS) 

  • Employees should know evacuation plans, emergency contacts, and first aid protocols

  • Prompt reporting ensures timely responses from emergency services and internal teams

Performance Element: Implement security policies/procedures to minimize chance for loss. 

• Explain routine security precautions (OP:013) (CS) 

  • Includes password policies, surveillance systems, access control, and employee training on security risks

  • Ensures protection against theft, data breaches, and physical damage

• Follow established security procedures/policies (OP:152) (CS) 

  • Involves adhering to company guidelines on data protection, employee screening, and physical access

  • Protects company assets and confidential information from unauthorized access

• Protect company information and intangibles (OP:153) (CS)

  • Safeguards intellectual property, trade secrets, and customer data through encryption and secure storage

  • Regular audits and training on cyber threats help prevent leaks and theft

Performance Element: Comply with security rules, regulations, and codes (e.g., property, privacy,  access, confidentiality) to protect customer and company information, reputation, and image. 

• Explain information privacy, security, and confidentiality considerations in business (OP:441) (CS) 

  • Businesses must ensure personal data is collected, stored, and used in compliance with laws (e.g., GDPR)

  • Confidential information must be restricted to authorized personnel only

• Maintain data security (OP:064) (CS) 

  • Involves encryption, regular backups, and multi-factor authentication to protect against cyber threats

  • Keeps business and customer data safe from potential breaches or theft

Performance Element: Acquire a foundational knowledge of project management to understand  its nature and scope. 

• Explain the nature of project management (OP:158) (SP) 

  • Project management involves planning, organizing, and overseeing a project from start to finish

  • Ensures projects are completed on time, within scope, and within budget

• Describe the role of ethics in project management (OP:675) (SP) 

  • Ethics ensures honesty, transparency, and fairness during all project phases

  • Helps in dealing with stakeholders, avoiding conflicts of interest, and maintaining integrity

Performance Element: Utilize project management skills to improve workflow and minimize  costs. 

• Plan project (OP:519) (CS) 

  • Define project scope, objectives, timeline, and resource needs to ensure a successful outcome

  • Involves setting realistic goals and expectations for all stakeholders

• Monitor projects and take corrective actions (OP:520) (CS) 

  • Regularly track progress, identify deviations from the plan, and implement corrective actions as needed

• Evaluate project success (OP:521) (CS) 

  • Assess the final outcome against initial objectives (cost, quality, timeline) to determine success

  • Identify areas for improvement for future projects

• Identify resources needed for project (OP:003) (SP) 

  • Determine the personnel, materials, equipment, and budget required for project execution

• Develop project plan (OP:001) (SP) 

  • Create a comprehensive roadmap that includes schedules, task assignments, and milestones

• Apply project-management tools to monitor and communicate project progress (OP:002) (SP) 

  • Use software tools like Gantt charts, Kanban boards, or project management platforms (e.g., Asana, Trello)

• Evaluate project results (OP:159) (SP) 

  • Review outcomes to determine if project goals were achieved and where improvements can be made

Performance Element: Implement purchasing activities to obtain business supplies, equipment,  resources, and services. 

• Explain the nature and scope of purchasing (OP:015) (CS) 

  • Purchasing involves acquiring goods and services to support business operations

  • Ensures timely, cost-effective procurement while maintaining quality

• Place orders/reorders (OP:016) (CS) 

  • Monitors inventory levels and places orders to replenish stock as needed

  • Manages vendor relationships to ensure timely delivery

• Maintain inventory of supplies (OP:031) (CS) 

  • Tracks inventory levels to prevent shortages or overstocking

  • Implements inventory management systems for accuracy

• Discuss the importance of utilizing ethical purchasing methods (OP:246) (SP) Explain the impact of the purchasing process on productivity (OP:247) (SP) 

  • Ethical purchasing ensures vendors adhere to fair labor practices and environmental standards

  • Promotes sustainability and corporate social responsibility

• Manage the bid process in purchasing (OP:160) (SP) 

  • Involves soliciting multiple bids, evaluating them, and selecting the best vendor based on cost, quality, and delivery

• Select vendors (OP:161) (SP) 

  • Choose vendors based on reliability, cost-effectiveness, and alignment with business values

• Evaluate vendor performance (OP:162) (SP) 

  • Assess vendors on quality, timeliness, and customer service to ensure ongoing business success

Performance Element: Understand production's role and function in business to recognize its  need in an organization. 

• Explain the concept of production (OP:017) (CS)

  • Assess vendors on quality, timeliness, and customer service to ensure ongoing business success

Performance Element: Implement quality-control processes to minimize errors and to expedite  workflow. 

• Identify quality-control measures (OP:163) (SP) 

  • Involves inspection, testing, and standardization to ensure products meet specifications

  • Includes process control, audits, and continuous improvement programs

• Utilize quality control methods at work (OP:164) (SP) 

  • Techniques like Six Sigma, Lean, or Total Quality Management (TQM) to enhance product quality and reduce defects

• Describe crucial elements of a quality culture (OP:019) (SP) 

  • Quality culture focuses on commitment to continuous improvement, customer satisfaction, and employee involvement

• Resolve problems with suppliers' quality issues (OP:652) (SP)

  •  Identifying root causes and working with suppliers to resolve quality issues quickly to maintain production schedules

Performance Element: Implement expense-control strategies to enhance a business's financial  wellbeing. 

• Explain the nature of overhead/operating costs (OP:024) (SP) 

  • Overhead includes indirect costs like utilities, rent, and administrative expenses that support business operations

• Explain employee's role in expense control (OP:025) (SP) 

  • Employees contribute to cost control by minimizing waste, using resources efficiently, and adhering to budget constraints

Performance Element: Implement organizational skills to improve efficiency and work flow. 

• Organize and prioritize work (OP:228) (CS) 

  • Effective organization involves setting priorities, managing workloads, and allocating resources efficiently

• Coordinate work with that of team members (OP:230) (CS) 

  • Ensures collaboration and avoids overlap or missed tasks by maintaining clear communication and shared goals

• Coordinate activities with those of other departments (OP:196) (SP) 

  • This involves aligning and collaborating with different departments to ensure that workflows are synchronized and organizational objectives are met efficiently.

Performance Element: Maintain work flow to enhance productivity. 

• Monitor and ensure completion of delegated tasks (OP:354) (SP) 

  • Ensures that tasks assigned to team members are completed on time and according to the requirements.

• Streamline work processes (OP:355) (SP) 

  • Involves optimizing work processes to eliminate inefficiencies, improve speed, and enhance productivity.

Performance Element: Maintain property and equipment to facilitate ongoing business activities. 

• Comply with policies and procedures for use of property and equipment (OP:442) (CS) 

  • Ensures that employees use company resources responsibly, adhering to established guidelines and protocols for maintenance and care.

Performance Element: Understand supply chain management's role in business to appreciate its  contributions to efficiency and profitability. 

• Explain the concept of supply chain (OP:443) (CS) 

  • Supply chain refers to the network of organizations involved in the production, handling, and distribution of goods and services. Understanding this concept is key to improving overall business efficiency.

• Explain the benefits of supply chain collaboration (OP:444) (SP)

  • Effective collaboration across the supply chain helps reduce costs, improve quality, and ensure timely delivery, contributing to greater profitability and business success.

Instructional Area: Professional Development (PD)

Standard: Understands concepts, tools, and strategies used to explore, obtain, and develop in a  business career 

Performance Element: Acquire self-development skills to enhance relationships and improve  efficiency in the work environment. 

• Maintain appropriate personal appearance (PD:002) (PQ)

  • Maintaining proper hygiene, grooming, and attire that comply with company’s standards  

• Demonstrate systematic behavior (PD:009) (PQ) 

  • Systematic behavior- ability to approach tasks and problems in a structured, methodical way 

    • Developing plans

    • Being organized

    • Being consistent when addressing a problem 

    • Having logical reasoning (ensures no steps are skipped)

    • Being goal-oriented and having efficiency 

    • Having accountability 

• Set personal goals (PD:018) (CS) 

  • Personal goals- powerful tool for self improvement 

    • Be specific 

    • Set measurable goals 

    •  Ensure that goals are realistic and achievable 

• Balance personal and professional responsibilities (PD:179) (SP) 

  • Set boundaries- have designated times for work and avoid bringing work home

  • Prioritize tasks- make todo lists in order of priority

  • Take breaks- taking breaks and giving yourself time can help prevent burnouts

  • Seek support- ask people for help or if you are no able to complete work delegate tasks to others

  • Self Care time- prioritize your own wellbeing → gives balance and equips you for any challenges in personal/professional lives 

Performance Element: Understand and follow company rules and regulations to maintain  employment. 

• Adhere to company protocols and policies (PD:250) (CS) 

  • Everyone in a company must follow all policies and protocols 

    • Ensures that all employees are compliant with all rules 

    • Mandatory trainings and communication should be held between employees 

• Follow rules of conduct (PD:251) (CS) 

  • Adhere to companies conduct 

    • Ex. following company policies such as dress code 

• Follow chain of command (PD:252) (CS) 

  • Reporting and being accountable to next-level authority 

Performance Element: Achieve organizational goals to contribute to company growth. 

• Determine the nature of organizational goals (PD:254) (SP) 

  • Specific- goals should be specific and clearly defined → allows organization to know what they are specifically working for 

  • Measurable- allows tracking of progress and determine success 

  • Achievable- goals should be realistic and achievable based on the organizations resources and capabilities 

  • Relevant- goals should be relevant with organizations mission and vision → align with overall company strategy 

  • Time Bound- time frame or deadline for when goals are achieved 

  • Aligned- goals should be aligned between every department of the organization and the organization's overall strategy 

  • Collaborative- goals should be set and worked on with collaboration between management and employees → helps build commitment and ownership of the goal 

  • Challenging but realistic- goals should be challenging enough to push the organization but also achievable 

• Ascertain employee's role in meeting organizational goals (PD:255) (SP) 

  • Understanding the specific responsibilities and contributions an employee is expected to make towards the organization's overall goals 

    • Review the goals- review goals established for an organization 

      • Helps understand overall priorities that a company is working towards 

    • Review employees job description- 

Performance Element: Utilize critical-thinking skills to determine best options/outcomes. 

• Explain the need for innovation skills (PD:126) (CS) 

  • Innovation skills are essential for adapting to changing business environments, creating new products or services, improving processes, and solving complex problems. These skills contribute to staying competitive, identifying market trends, and fostering creativity within teams.

• Make decisions (PD:017) (CS) 

  • Effective decision-making involves gathering relevant information, weighing the pros and cons of options, analyzing risks, and considering both short-term and long-term impacts. Critical thinking is essential in making decisions that align with business goals and values, ensuring sustainability and profitability.

• Demonstrate problem-solving skills (PD:077) (CS) 

  • Problem-solving skills involve recognizing the root causes of issues, developing potential solutions, and choosing the most effective approach. This process requires creativity, analytical thinking, and an understanding of both business objectives and stakeholder needs to implement practical solutions that improve operations.

• Demonstrate appropriate creativity (PD:012) (SP) 

  • Creativity in business involves thinking outside the box to develop novel approaches to challenges, offering unique solutions to clients, or enhancing internal processes. It’s about leveraging different perspectives and resources to drive innovation and achieve business objectives.

• Use time-management skills (PD:019) (SP) 

  • Time management involves prioritizing tasks, setting clear goals, and using tools like calendars and task lists to stay on track. It ensures efficiency in meeting deadlines, reducing stress, and enhancing productivity. Effective time management allows for balancing multiple responsibilities and managing workload expectations.

Performance Element: Participate in career planning to enhance job-success potential. 

• Assess personal interests and skills needed for success in business (PD:013) (PQ) 

  • Identifying personal interests and strengths helps align career goals with job roles that match individual capabilities. This self-awareness enables individuals to pursue a career path where they are motivated and excel, ensuring long-term job satisfaction and success.

• Analyze employer expectations in the business environment (PD:020) (PQ)

  • Employers expect certain technical skills, soft skills, and professional behaviors, such as punctuality, teamwork, and adaptability. Understanding these expectations helps job seekers tailor their resumes, interviews, and workplace behaviors to meet the demands of the business environment, making them more competitive candidates.

• Explain the rights of workers (PD:021) (PQ) 

  • Workers have fundamental rights, including fair pay, a safe work environment, protection from discrimination, and the right to unionize. Understanding these rights is crucial for ensuring fair treatment and a healthy work-life balance, as well as for navigating labor laws and workplace policies.

• Identify sources of career information (PD:022) (CS) 

  • Career information can be obtained from various sources, such as online job boards, professional associations, career coaches, and networking events. These sources help individuals understand current job market trends, industry demands, and specific employer requirements, allowing for better career decision-making.

• Identify tentative occupational interest (PD:023) (CS)

  • Exploring various occupations through internships, informational interviews, or research allows individuals to gauge their interests and strengths. This exploration helps identify potential career paths and narrow down options to pursue further education or training in a specific field.

• Explain employment opportunities in business (PD:025) (CS) 

  • Business offers diverse opportunities across functions like management, finance, marketing, operations, and human resources. Employment opportunities are not only found in large corporations but also in startups and small businesses, providing a variety of roles suited to different skill sets and career aspirations.

• Explain career opportunities in entrepreneurship (PD:066) (CS)

  • Entrepreneurship presents opportunities to start and grow businesses, create jobs, and innovate in various sectors. It requires skills in risk management, finance, marketing, and leadership, offering the chance to directly influence business outcomes and economic development.

Performance Element: Implement job-seeking skills to obtain employment. 

• Utilize job-search strategies (PD:026) (PQ) 

  • Includes researching companies, networking, attending career fairs, and using job boards

  • Increases chances of finding suitable roles through various channels

• Complete a job application (PD:027) (PQ) 

  • Requires accurate, up-to-date information tailored to the job role

  • Ensures all required fields are filled out and relevant skills are highlighted

• Interview for a job (PD:028) (PQ)

  •  Preparation includes researching the company, practicing interview questions, and showcasing key skills

  • Effective communication and professionalism are essential during the interview

• Write a follow-up letter after job interviews (PD:029) (CS) 

  • Expresses appreciation, reinforces interest, and highlights key discussion points

  • Strengthens candidacy by demonstrating professionalism and enthusiasm

• Write a letter of application (PD:030) (CS) 

  • Personalized to each employer, demonstrating understanding of the company and role

  • Highlights relevant qualifications and enthusiasm for the position

• Prepare a resume (PD:031) (CS) 

  • Organizes skills, experience, and achievements in a professional format

  • Tailors content for each job application, focusing on the most relevant qualifications

• Use networking techniques to identify employment opportunities (PD:037) (SP) 

  • Involves connecting with professionals through LinkedIn, industry events, and associations

  • Builds relationships that may lead to unadvertised job openings

Performance Element: Utilize career-advancement activities to enhance professional  development. 

• Describe techniques for obtaining work experience (e.g., volunteer activities, internships) (PD:032)  (PQ) 

  • Internships and volunteer work offer hands-on experience, helping to develop skills

  • Provides networking opportunities and insights into specific industries

• Explain the need for ongoing education as a worker (PD:033) (PQ) 

  • Continuous learning through courses, certifications, or self-study is crucial to stay competitive

  • Helps workers adapt to industry changes and advancements

• Explain possible advancement patterns for jobs (PD:034) (PQ) 

  • Advancement can involve promotions, lateral moves to broaden experience, or new ventures

  • Depends on performance, learning, and networking

• Identify skills needed to enhance career progression (PD:035) (SP) 

  • Skills such as leadership, communication, critical thinking, and technical expertise

  • Ensures readiness for higher-level responsibilities and career growth

• Utilize resources that can contribute to professional development (e.g., trade journals/periodicals,  professional/trade associations, classes/seminars, trade shows, and mentors) (PD:036) (SP)  

  • Resources include industry publications, professional groups, seminars, and mentors

  • Helps individuals stay updated on trends, improve expertise, and expand their networkx

☑Instructional Area: Strategic Management (SM)

Standard: Understands tools, techniques, and systems that affect a business's ability to plan,  control, and organize an organization/department 

Performance Element: Recognize management's role to understand its contribution to business  success. 

• Explain the concept of management (SM:001) (CS) 

  • Management- coordinating tasks and resources to smoothly operate business 

    • Sets objectives/goals, works on organization, motivating the team, makes performance measurable 

• Explain factors that affect management (SM:100) (SP) 

  • Organizational culture- Culture of organization

    • Values, beliefs, norms

      • Management must comply to these

  • Strategy- Organizations overall structure and goals

    • Managers must implement tactics and approaches to achieve organization’s goals

  • Resources- resources available to business 

    • Financial, human, physical resources can impact management practices and decision making 

Performance Element: Identify potential business threats and opportunities to protect a  business’s financial well-being. 

• Explain the nature of risk management (SM:075) (SP) 

  • Risk management- strategies used by businesses to mitigate impact of business failure and to eliminate any possible risks leading to business failure 

    • Risk transfer- moving risk to another party 

    • Risk avoidance- elimination possible risk factors 

    • Risk insurance- purchasing insurance to cover cost associated with realized risks 

    • Risk retention- accepting possibility of risk but no action against it  

• Conduct a risk assessment of an event (SM:076) (SP)

  • Risk assessment- process of identifying, analyzing, and evaluating risks associated with an event 

    • Identify hazards- consider what could possibly go wrong

    • Determine harmed- consider who might be affected by the risks 

    • Evaluate the risks- consider the likelihood and potential impacts of each hazard  

    • Implement control measures- determine what measures can be put into place to reduce risks to an acceptable level 

    • Review and update the risk assessment- reevaluate risk assessment to make sure no new risks or hazards have been identified 

      • It's important to keep involved stakeholder, management, and professionals informed so that the risk is proactively addressed 

☑Instructional Area: Business Law (BL)

Standard: Understands business's responsibility to know, abide by, and enforce laws and  regulations that affect business operations and transactions 

Performance Element: Understand government regulations pertaining to the finance industry to  protect the company wellbeing. 

• Discuss legal considerations in the finance industry (BL:133) (SP) 

  • Businesses must follow all laws that are applicable by conducting a business 

  • Understanding these laws is vital for financial institutions to build trust and avoid legal liabilities  

• Discuss the effect of tax laws and regulations on financial transactions (BL:134) (SP) 

  • Financial institutions are required to comply with various tax laws and regulations

    • file public reports and keep record of financial transactions → noncompliance leads to penalties 

  • Tax

    • Capital gains tax- tax on the profit made from sale of an asset 

    • Sales tax- tax on the sale of goods and services 

    • Withholding tax- tax that is withheld from certain types of income (ex. Dividends and income)

    • Corporate income tax- tax on the profits of corporations

    • Transfer tax- taxes on the transfer of assets (ex. Estate and gift tax)

    • International tax- determining taxes based on international law

      • Laws and agreements that govern taxes across international borders 

Performance Element: Acquire a foundational knowledge of compliance to understand its nature  and scope. 

• Discuss the nature and scope of compliance in the finance industry (BL:148) (SP) 

  • Framework for laws and regulations that govern financial institutions to ensure ethical operations 

    • Aims to protect consumers, maintain financial market stability, and promote transparency

    • Failure to comply can lead to fines/penalties

• Describe the use of technology in compliance (BL:149) (SP) 

  • Technology helps organizations meet legal and regulatory requirements

    • Data management- Data encryption and prevents loss of data 

      • Protects data to make sure it is handled in compliance to regulations  

    • Automation- Compliance tasks such as risk assessment and compliance monitoring can be automated using technology 

      • Helps organizations identify potential compliance issues faster 

    • Monitoring and automation- security information and event management tools can be used to monitor and audit compliance 

    • Reporting and analytics- data visualization and business intelligence tools can be used to analyze compliance data → trends can be found that indicate compliance issues 

☑Instructional Area: Customer Relations (CR)

Standard: Understands the techniques and strategies used to foster positive, ongoing  relationships with customers 

Performance Element: Understand characteristics, motivations, and behaviors of clients in  finance to facilitate client interaction. 

• Explain the responsibilities of finance professionals in providing client services (CR:012) (CS) 

  • Financial professionals- help customers create personal budgets, control expenditures, secure and manage debt, set savings and investment goals, implement strategies to accumulate wealth 

    • Professionals should stay updated on current developments in the finance industry (financial products, tax law, investment strategies)

    • Should be trained with good customer service (good listening skills, patience, friendliness) 

Performance Element: Utilize technology to facilitate customer relationship management. 

• Use Customer Relationship Management (CRM) technology (CR:024) (SP)

  • Improves how businesses help customers 

    • Use CRM platforms to store all customer data (contact details, purchase history, etc.)

    • Manages all interactions with customers → ensures good relations 

    • Streamlines sales, marketing, and customer service 

    • Provides analytics on customer base allowing company to take data driven approaches 

Instructional Area: Financial Analysis (FI) 

Standard: Understands tools, strategies, and systems used to maintain, monitor, control, and  plan the use of financial resources 

Performance Element: Understand financial markets to recognize their importance in business. 

• Describe the role of financial institutions (FI:336) (CS) 

  • Help you make profit on your own money, explain risk and return relationships, and review investment portfolio 

  • Commercial banks, brokerages, investment companies, etc.

    • Banks and Credit Unions- make profits by using (while also safeguarding) your money 

      • Make money by charging interests or charging money on transactions 

    • Brokerage- middle man between buyers and sellers → executes trade on behalf of clients 

    • Investment companies- pools money from investors → investors share profits 

• Explain types of financial markets (e.g., money market, capital market, insurance market,  commodities markets, etc.) (FI:337) (SP) 

  • Money Market: A market for short-term borrowing and lending, typically with maturities of one year or less. It includes instruments like Treasury bills, commercial paper, and certificates of deposit. The money market is used by governments, financial institutions, and corporations to manage their short-term liquidity needs.

  • Capital Market: A market for long-term financial instruments such as stocks and bonds, used by companies and governments to raise capital for expansion, projects, or operations. It includes both primary markets (where securities are issued) and secondary markets (where securities are traded after issuance).

  • Insurance Market: A market where individuals or businesses purchase insurance products to protect against risks such as property damage, health issues, and liabilities. Insurers assess risk and pool premiums to provide financial coverage to policyholders.

  • Commodities Market: A market where raw materials or primary agricultural products (e.g., oil, gold, wheat) are traded. This market is essential for pricing and trading goods that are the building blocks of the global economy.

  • Derivatives Market: A market for financial instruments whose value is derived from the value of underlying assets such as stocks, bonds, commodities, or interest rates. Derivatives can be used for hedging or speculative purposes.

  • Forex (Foreign Exchange) Market: A global decentralized market for trading currencies. It is the largest and most liquid financial market, where participants exchange currencies at current or determined prices.

• Discuss the nature of convergence/consolidation in the finance industry (FI:573) (SP) 

  • Convergence: Refers to the merging of different types of financial institutions or services. This could involve banks offering investment and insurance products, or investment firms integrating with trading platforms. The goal is to provide comprehensive financial services under one roof, benefiting from economies of scale and cross-selling opportunities.

  • Consolidation: The process of companies in the finance industry merging or acquiring one another to increase market share, reduce competition, and achieve cost efficiencies. This often occurs as a response to economic pressures, technological advancements, and regulatory changes.

  • Technological Impact: Advances in technology and digitalization have accelerated convergence and consolidation by enabling financial institutions to diversify their offerings and streamline operations.

  • Regulatory Changes: Financial regulations may prompt firms to merge or form alliances to comply with regulatory requirements, such as capital adequacy or risk management standards.

  • Industry Efficiency: Consolidation can lead to improved financial stability and reduced risks by pooling resources, reducing duplication of services, and streamlining operations across the sector.

• Describe the relationship between economic conditions and financial markets (FI:574) (SP) 

  • Economic Growth and Financial Markets: A strong economy typically leads to higher corporate profits, increased consumer spending, and improved investor sentiment, driving up the value of financial assets. In contrast, an economic slowdown or recession can result in falling stock prices, higher bond yields, and reduced investment activity.

  • Interest Rates and Financial Markets: Central banks adjust interest rates to control inflation and stimulate or cool down economic activity. Rising interest rates can make borrowing more expensive, potentially slowing down investments and reducing the stock market's performance. Lower rates can encourage borrowing and investment, supporting growth in financial markets.

  • Inflation and Financial Markets: Inflation impacts the purchasing power of money, affecting both consumers and businesses. High inflation can erode the value of investments, especially bonds, while leading to higher commodity prices. Conversely, low inflation tends to support economic stability and growth, benefiting financial markets.

  • Geopolitical Events: Political instability, wars, or major international events can create uncertainty in financial markets, leading to volatile price movements as investors react to potential risks to the global economy.

  • Market Sentiment: Economic indicators such as unemployment rates, GDP growth, and consumer confidence can influence market sentiment, affecting investor behavior and market volatility.

• Explain the nature and scope of financial globalization (FI:575) (SP)

  • Global Capital Flows: Financial globalization has increased the flow of capital across borders, allowing investors to access global markets and diversify portfolios. It has also enabled companies to raise capital through international stock and bond markets.

  • Market Integration: Financial globalization has led to greater integration of financial markets, with stock exchanges, bond markets, and financial institutions operating across national boundaries. This integration allows for more efficient allocation of capital and liquidity.

  • Increased Access to Investment: Investors have access to a broader range of investment opportunities, including foreign stocks, bonds, and alternative assets. Likewise, businesses can access a global pool of investors to fund their operations and expansion.

  • Technological Advancements: Technology has played a significant role in financial globalization by enabling real-time trading, cross-border electronic payments, and the use of global financial instruments such as derivatives and ETFs (Exchange-Traded Funds).

  • Regulatory Challenges: Financial globalization poses challenges for regulation, as markets become interconnected across jurisdictions. Regulatory bodies must address issues such as risk management, financial stability, and compliance with international standards.

  • Impact of Financial Crises: Financial globalization can exacerbate the spread of financial crises. A downturn in one major economy or financial market can quickly have a ripple effect across the globe, as evidenced by the 2008 global financial crisis.

  • Opportunities and Risks: While globalization offers the opportunity for increased investment and growth, it also introduces risks such as currency fluctuations, geopolitical risks, and increased exposure to systemic market shocks.

Performance Element: Utilize sources of securities information to make informed financial  decisions. 

• Describe sources of securities information (FI:274) (CS) 

  • Financial News and Media: Major financial news outlets such as Bloomberg, CNBC, and Reuters provide up-to-date information on stock prices, bond yields, and market trends. These sources offer daily reports, analyses, and live updates that are essential for investors.

  • Stock Exchanges: Securities information is directly available from the stock exchanges like the NYSE, NASDAQ, and international exchanges. These platforms provide data on real-time stock prices, trading volumes, and historical performance.

  • Securities Filings (SEC): Public companies in the U.S. are required to file documents with the Securities and Exchange Commission (SEC), such as 10-K (annual reports), 10-Q (quarterly reports), and 8-K (current reports). These filings contain detailed financial and operational data on companies, helping investors make informed decisions.

  • Financial Data Providers: Companies like Morningstar, FactSet, and S&P Capital IQ provide comprehensive databases and tools for analyzing securities. These platforms aggregate data from various sources, including stock exchanges and company filings.

  • Brokerage Firms: Brokerages like Fidelity, Charles Schwab, and TD Ameritrade offer clients access to securities information through trading platforms, research reports, and market analysis tools.

  • Investment Research Reports: Reports from analysts and rating agencies (such as Moody’s, Standard & Poor’s, and Fitch) provide in-depth research, ratings, and predictions on securities, including stocks, bonds, and mutual funds.

• Interpret securities table (FI:275) (SP) 

Stock Symbols and Tickers: A securities table typically lists stock symbols (or ticker symbols), which are unique identifiers for securities. For example, “AAPL” represents Apple Inc. on the NYSE.

Last Price: The most recent trading price of a security. This is crucial for determining the current market value of a stock or bond.

Open, High, Low, Close: These represent the price range of the security over the trading day.

• Open: The price at which the security opened for trading.

• High: The highest price reached during the trading day.

• Low: The lowest price reached during the trading day.

• Close: The price at which the security closed at the end of the trading session.

Volume: The number of shares or contracts traded during a given time period. Higher volume generally indicates increased investor interest and market activity.

Market Capitalization: The total value of a company's outstanding shares of stock, calculated by multiplying the stock price by the number of shares in circulation. It provides an indication of the company's size.

P/E Ratio (Price-to-Earnings Ratio): A valuation ratio, calculated by dividing the stock’s current price by its earnings per share. It shows how much investors are willing to pay for a company's earnings.

Dividend Yield: The annual dividend payment divided by the stock’s current price. It helps investors assess the income potential of a stock.

52-Week High/Low: The highest and lowest prices at which a security has traded during the past year. It provides context for evaluating the current price.

Beta: A measure of the security's volatility in relation to the broader market (typically the S&P 500). A beta higher than 1 indicates higher volatility, while a beta lower than 1 indicates lower volatility.

EPS (Earnings Per Share): A company’s net income divided by the number of outstanding shares. It indicates a company’s profitability on a per-share basis.

• Explain the nature of statements of changes in equity (FI:630) (SP) 

  • Definition: The statement of changes in equity, also known as the statement of retained earnings, shows how a company’s equity (net assets) has changed during a specific period, such as a quarter or year. It provides details about movements in shareholders' equity accounts, such as retained earnings, issued share capital, and other reserves.

  • Components of the Statement:

    • Opening Equity: The equity balance at the start of the period.

    • Comprehensive Income: The total of net income (from the income statement) and other comprehensive income, such as unrealized gains or losses on securities or foreign currency translation adjustments.

    • Dividends Paid: The amount of money distributed to shareholders, which reduces retained earnings.

    • Issuance or Repurchase of Shares: Changes in the share capital through issuance of new shares or the repurchase of shares from the market.

    • Other Adjustments: Adjustments due to changes in accounting policies, corrections of errors, or revaluation of assets.

  • Purpose: The statement of changes in equity is useful for investors and stakeholders to understand the company’s financial decisions and how its equity has evolved. It provides insight into the company’s profit retention, dividend policy, and overall financial health.

  • Reconciliation: The statement reconciles the opening and closing balances of equity, showing all changes during the period. It provides a more complete picture than the balance sheet alone by focusing on equity fluctuations rather than just the overall financial position.

  • Impact on Financial Analysis: Analysts use this statement to assess how well a company is managing its earnings, capital structure, and shareholder distribution. It helps in evaluating long-term value creation or destruction for shareholders.

Performance Element: Manage financial resources to ensure solvency. 

• Calculate the time value of money (FI:238) (SP) 

  • Time value of money- money has different values at different points of time due to the opportunity cost of holding or using the money 

    • To calculate you have to consider the present value, future value, and the interest rate

    • PV= FV/(1+i)^n

      • PV → present value 

      • FV → future value 

      • i → interest   

      • N → number of periods 

Performance Element: Understand the fundamentals of managerial accounting to aid in financial  decision-making. 

• Describe types of costs used in managerial accounting (e.g., direct cost, indirect cost, sunk cost,  differential cost, etc.) (FI:658) (SP) 

  • Direct Costs: Costs that can be directly attributed to a specific product, department, or project, such as raw materials, labor costs, or production supplies.

  • Indirect Costs: Costs that cannot be traced directly to a specific product or service, including utilities, rent, and administrative salaries.

  • Fixed Costs: Costs that remain constant regardless of the level of production or business activity. Examples include rent, salaries, and insurance.

  • Variable Costs: Costs that change in direct proportion to the level of production or sales. Examples include raw materials, commission-based wages, and shipping costs.

  • Sunk Costs: Costs that have already been incurred and cannot be recovered. These costs should not influence future decision-making as they are irrelevant to future choices.

  • Differential Costs: The difference in cost between two alternative decisions. This is used to evaluate the financial impact of choosing one alternative over another.

  • Opportunity Costs: The potential benefits lost when one alternative is chosen over another, representing the trade-off between two options.

  • Controllable Costs: Costs that can be influenced or managed by a specific department or individual, such as labor and supplies.

  • Uncontrollable Costs: Costs that cannot be influenced by a manager’s decisions, like fixed overhead costs and certain regulatory compliance costs.

• Describe marginal analysis techniques and applications (FI:659) (SP) 

  • Definition of Marginal Analysis: Marginal analysis involves examining the additional benefits and costs of a decision to evaluate its impact on overall business performance. It focuses on the change in total cost or revenue from producing one more unit of output.

  • Marginal Cost: The additional cost incurred when producing one more unit of output. This is used to assess whether increasing production will lead to increased profitability.

  • Marginal Revenue: The additional revenue generated from selling one more unit of output. It helps businesses understand the impact of increasing sales on overall revenue.

  • Optimal Output Decision: Businesses use marginal analysis to determine the optimal level of production where marginal cost equals marginal revenue, maximizing profits.

  • Application in Pricing: Companies use marginal analysis to decide whether to accept special pricing deals, evaluating if the additional revenue covers the additional costs of production.

  • Application in Investment: Marginal analysis helps businesses assess whether an investment is worthwhile by comparing the marginal return on investment to the cost of capital.

• Explain the nature of managerial accounting (FI:660) (SP) 

Definition: Managerial accounting focuses on providing financial and non-financial information to managers within an organization to assist in decision-making, planning, and controlling business operations.

Purpose: It supports internal decision-making processes related to budgeting, forecasting, cost control, and performance evaluation. Unlike financial accounting, which is primarily concerned with external reporting, managerial accounting is tailored to meet the specific needs of managers.

Key Functions:

• Planning and Forecasting: Helps managers forecast future financial outcomes and plan budgets to achieve organizational goals.

• Cost Control: Tracks and manages costs to ensure operations are efficient and within budget.

• Performance Evaluation: Assesses the performance of different departments or business units by comparing actual results to budgeted figures.

• Decision Support: Provides analysis to guide decisions related to pricing, production levels, investments, and cost management.

• Discuss the use of variance analysis in managerial accounting (FI:661) (SP) 

  • Definition of Variance Analysis: Variance analysis is the process of comparing budgeted or planned financial outcomes to actual results to understand the reasons for differences (variances) and guide future decisions.

  • Types of Variances:

    • Price Variance: The difference between the actual price paid for inputs (e.g., materials, labor) and the standard or expected price.

    • Quantity Variance: The difference between the actual quantity of inputs used and the standard quantity expected for production.

    • Labor Rate Variance: The difference between the actual wage rate and the budgeted wage rate for labor.

    • Labor Efficiency Variance: The difference between the actual hours worked and the standard hours expected to complete a given level of production.

  • Applications: Variance analysis is used to identify areas where a company is overspending or underperforming, allowing managers to take corrective actions. For example, if material costs are higher than expected, the company may investigate whether waste is occurring or whether supplier prices have increased.

  • Benefits: It provides insights into the efficiency of operations, helps with cost control, and enables managers to adjust strategies to stay on track with financial goals.

• Discuss the nature of cost accounting budgets (FI:662) (SP) 

  • Definition of Cost Accounting Budgets: Cost accounting budgets are detailed financial plans that outline the expected costs for different aspects of a business, including materials, labor, overhead, and production.

  • Purpose: The primary goal of cost accounting budgets is to set expectations for costs and revenues, provide a basis for performance evaluation, and assist with planning and decision-making.

  • Types of Budgets:

    • Static Budget: A fixed budget based on a specific level of production or sales, typically used in stable environments.

    • Flexible Budget: A budget that adjusts for changes in the volume of activity, providing more accuracy for performance evaluation in dynamic environments.

    • Zero-Based Budget: A budgeting method where each expense must be justified for each new period, rather than relying on past budgets as a baseline.

  • Process: The cost budgeting process involves forecasting costs, setting financial targets, allocating resources, and determining the cost of goods sold and overhead costs.

  • Importance: Cost accounting budgets are crucial for controlling costs, setting performance targets, and ensuring financial stability. They provide managers with a roadmap for resource allocation and help track financial performance against expectations.

• Discuss the nature of cost allocation (FI:663) (SP) 

Definition of Cost Allocation: Cost allocation refers to the process of assigning indirect costs (such as overhead) to specific cost objects (e.g., products, departments, or projects) based on certain allocation bases.

Methods of Cost Allocation:

• Activity-Based Costing (ABC): A method that assigns overhead costs based on the activities that drive those costs, such as machine hours or labor hours.

• Direct Allocation: Allocating overhead costs based on a single cost driver, like the number of units produced or direct labor hours.

• Proportional Allocation: Allocating costs based on a proportionate share of costs or revenue generated by each department or product line.

• Step-Down Allocation: A method where costs are allocated in a sequential manner from one department to another, based on inter-departmental services.

Purpose: The main goal of cost allocation is to ensure that costs are appropriately distributed across different departments or products to reflect the true cost of production or service delivery.

Importance: Effective cost allocation helps businesses understand product profitability, control overhead expenses, and make informed pricing, production, and investment decisions. It also supports more accurate financial reporting and performance measurement.

☑Instructional Area: Information Management (NF)

Standard: Understands tools, strategies, and systems needed to access, process, maintain,  evaluate, and disseminate information to assist business decision-making 

Performance Element: Utilize information-technology tools to manage and perform work  responsibilities. 

• Demonstrate advanced database applications (NF:124) (SP) 

  • Advanced database applications are used to manage, analyze, and extract insights from large amounts of data 

    • Data warehousing- Process of collecting, storing, and managing large amounts of data 

      • Data comes from various sources but stored in one central location 

    • Business intelligence- BI applications used to provide real-time reporting, data visualizations,and data analytics capabilities → allows users to make data-based decisions 

    • Data mining- process of discovering patterns and insights in large data sets 

      • Used to identify trends, predict future events, and making data driven decisions 

    • Real-Time databases- process and analyze data in real time allowing for immediate decision making and action 

    • NaSQL- designed to handle large amounts of unstructured data

    • Cloud- hosted on cloud platforms (accessible anywhere) → makes easily accessible for large corporations 

    • Graph- used to store and manage query graph data → analyzes complex relations 

    • Time-series database- stores and manages time-stamped data such as sensor data, financial data, and other data that changes overtime 

    • Spatial data- stores and manages data that has a geographic component 

Instructional Area: Professional Development (PD)

Standard: Understands concepts, tools, and strategies used to explore, obtain, and develop in a  business career 

Performance Element: Participate in career planning to enhance job-success potential. 

• Discuss employment opportunities in the finance industry (PD:152) (CS)

  • Professionals in finance industry can work in areas such as corporate finance, investment banking, risk management, and financial planning 

  • Insurance industry, accounting and audit, and real estate industries

  • Roles include financial analysts, investment bankers, financial managers, and financial advisors 

Performance Element: Utilize career-advancement activities to enhance professional  development. 

• Discuss opportunities for building professional relationships in finance (PD:153) (SP) 

  • Networking events- Large finance conferences and workshops allow for collaboration and connections with other professionals 

  • Social media

  • Internal- Cross department collaboration → allows networking within different teams in a company 

Performance Element: Acquire knowledge of corporate governance to be aware of the restraints  imposed upon finance functions. 

• Discuss the importance of corporate governance in business (PD:213) (CS) 

  • Builds trust

    • Fosters transparency encouraging investors to trust company leadership 

    • Ethical business practices allow good reputation and build customer relations and trust 

• Ascertain employee's role in achieving governance objectives (PD:301) (CS) 

  • Understand company policies and align actions with governance goals

  • Act with transparency, integrity, and accountability

  • Follow legal, regulatory, and internal compliance standards

  • Report unethical or non-compliant behavior 

  • Provide accurate data to support informed decision-making 

• Identify the factors that impact governance structures (PD:302) (SP) 

  • Legal and regulatory requirements:

    • Governance is shaped by laws and regulations like corporate governance codes.

  • Organization size and complexity:

    • Larger, more complex businesses need detailed governance frameworks.

  • Stakeholder expectations:

    • Governance adapts to the needs of shareholders, employees, and customers.

  • Corporate culture:

    • A company’s values and practices influence governance structures.

  • Market environment:

    • Economic and industry conditions impact governance needs.

• Describe the components of a well-governed company (e.g., board of directors, reporting,  transparency, internal and external audit functions) (PD:214) (SP) 

  • Board of directors:

    • Provides leadership and oversees management.

  • Reporting systems:

    • Ensures transparency through accurate financial and operational reporting.

  • Internal and external audits:

    • Regular reviews to maintain accountability and detect risks.

  • Clear policies:

    • Governance policies guide ethical and strategic decisions.

  • Transparency:

    • Open communication with stakeholders builds trust and credibility.

• Describe the impact of governance processes on decision-making and management functions  (PD:303) (SP) 

  • Improved decision-making:

    • Governance ensures decisions align with ethical and strategic goals.

  • Risk management:

    • Governance helps identify and mitigate risks effectively.

  • Accountability:

    • Clear governance structures hold employees and leaders responsible.

  • Operational efficiency:

    • Strong governance processes streamline workflows and communication.

  • Stakeholder trust:

    • Transparent governance builds confidence among investors and customers.

Instructional Area: Financial-Information Management (FM)

Standard: Understands tools, strategies, and systems needed to access, process, maintain,  evaluate, and disseminate financial information to assist business decision-making 

Performance Element: Acquire foundational knowledge of financial-information management to  understand its scope and nature. 

• Explain the nature and scope of the financial-information management function (FM:002) (SP) 

  • Nature of financial-information management:

    • Involves collecting, storing, and analyzing financial data for decision-making.

    • Ensures compliance with legal and regulatory standards.

    • Aims to maintain accuracy and accessibility of financial information.

  • Scope of financial-information management:

    • Budgeting, forecasting, and reporting financial performance.

    • Analyzing data to guide business strategies.

    • Monitoring cash flow, investments, and risk management.

• Explain the role of ethics in financial-information management (FM:003) (SP) 

  • Upholds accuracy and transparency in financial reporting.

  • Prevents fraud and manipulation of financial data.

  • Builds trust with stakeholders through honest communication.

  • Ensures compliance with regulations like GAAP or IFRS.

  • Encourages accountability for errors or discrepancies.

Performance Element: Utilize financial information technology tools to manage financial  information and perform work responsibilities. 

• Describe the use of technology in the financial-information management function (FM:011) (SP) 

Software applications:

• Use tools like QuickBooks, SAP, or Oracle for financial tracking and reporting.

Data storage and security:

• Employ cloud solutions for secure and scalable storage of financial data.

Automation:

• Automate repetitive tasks like payroll or invoicing to increase efficiency.

Analytics tools:

• Use AI and machine learning to predict trends and identify risks.

• Demonstrate budgeting applications (FM:013) (SP) 

  • Use tools like Excel or specialized software (e.g., Mint, YNAB) to create budgets.

  • Forecast future expenses and revenue based on historical data.

  • Monitor budget adherence by tracking variances.

  • Adjust budgets dynamically in response to changes in financial performance.

• Demonstrate financial analysis applications (FM:014) (SP) 

  • Analyze financial statements (income, balance sheet, and cash flow).

  • Calculate key metrics like ROI, net profit margin, or debt-to-equity ratio.

  • Use tools like Power BI or Tableau for visualizing financial trends.

  • Assess the financial health of a company for strategic planning.

Performance Element: Acquire foundational knowledge of financial information analysis to aid in financial decision-making. 

• Describe techniques used to analyze customer financial information (FM:009) (SP) 

  • Review credit scores and payment histories for lending decisions.

  • Use ratio analysis to evaluate a customer’s financial stability.

  • Apply trend analysis to predict future financial behavior.

  • Assess cash flow to determine the ability to meet financial obligations.

• Discuss non-traditional uses for financial information (e.g., lean, sustainability reporting, activity based costing [ABC], six sigma) (FM:016) (SP)

Lean accounting:

• Reduces waste by focusing only on relevant financial data.

Sustainability reporting:

• Measures financial impact of environmental and social initiatives.

Activity-Based Costing (ABC):

• Allocates costs to products or services based on activities performed.

Six Sigma:

• Uses financial data to identify inefficiencies and reduce costs.

Instructional Area: Risk Management (RM)

Standard: Understands risk-management strategies and techniques used to minimize business  loss 

Performance Element: Acquire a foundational understanding of risk management to  demonstrate knowledge of its nature and scope. 

• Explain the role of ethics in risk management (RM:041) (SP) 

  • Transparency: Ensure risks are reported honestly to stakeholders.

  • Compliance: Follow legal and regulatory frameworks to mitigate unethical practices.

  • Accountability: Take responsibility for risk-related decisions and their consequences.

  • Fairness: Avoid practices that disproportionately transfer risk to vulnerable parties (e.g., customers or employees).

  • Proactive behavior: Foster a culture of integrity to prevent unethical risk-taking

• Describe the use of technology in risk management (RM:042) (SP) 

  • Risk assessment tools: Use software like RiskWatch or Resolver to identify and evaluate potential risks.

  • Predictive analytics: Leverage AI and machine learning to predict future risks based on historical data.

  • Cybersecurity measures: Implement firewalls, encryption, and intrusion detection systems to mitigate digital risks.

  • Risk monitoring: Use real-time dashboards for tracking emerging threats.

  • Data management: Ensure proper storage and analysis of risk-related data for better decision-making.

• Discuss legal considerations affecting risk management (RM:043) (SP) 

  • Compliance laws: Adhere to standards like OSHA for workplace safety or GDPR for data protection.

  • Contractual obligations: Understand liability and indemnity clauses in business contracts.

  • Insurance regulations: Comply with laws governing the purchase and use of insurance policies.

  • Intellectual property (IP): Protect against risks of IP theft or infringement lawsuits.

  • Consumer protection laws: Address risks related to product safety and ethical advertising practices.

Performance Element: Explore risk control to understand its relationship to risk management. 

• Discuss the nature of risk control (i.e., internal and external) (RM:058) (SP)

Internal risk control:

• Develop policies, procedures, and training to prevent employee-related risks.

• Implement internal audits to identify and address risks proactively.

• Use risk registers to document and monitor organizational risks.

External risk control:

• Purchase insurance to mitigate financial loss from unforeseen events.

• Form partnerships to share risks with external entities.

• Monitor external factors like market trends or regulatory changes that could affect operations.

Performance Element: Manage risk to protect a business's well-being. 

• Discuss the nature of enterprise risk management (ERM) (RM:062) (SP)

Definition: ERM is a comprehensive approach to identifying, assessing, and managing risks across an organization.

Key aspects:

• Integrates risk management into strategic decision-making.

• Considers all types of risk (e.g., financial, operational, reputational).

• Engages all departments to ensure a unified risk-management approach.

Benefits:

• Reduces uncertainty in achieving business goals.

• Enhances organizational resilience to disruptions.

• Builds stakeholder confidence through proactive risk handling.

Instructional Area: Business Law (BL)

Standard: Understands business's responsibility to know, abide by, and enforce laws and  regulations that affect business operations and transactions 

Performance Element: Implement compliance measures in accounting to adhere to regulatory  requirements. 

• Explain financial disclosure regulations and policies (BL:153) (SP) 

  • Transparency: Financial disclosures must provide clear, accurate, and timely information to stakeholders, including investors, regulators, and the public.

  • Sarbanes-Oxley Act: Companies must comply with regulations ensuring the accuracy of financial reporting and internal controls.

  • GAAP/IFRS: Ensure financial reports align with Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) for consistency and comparability.

  • SEC Regulations: Public companies must disclose financial data to the U.S. Securities and Exchange Commission (SEC) to protect investors and maintain market integrity.

  • Audit Requirements: Public companies are required to have annual audits by independent auditors to ensure the financial disclosures are accurate and compliant with the law.

• Comply with financial reporting and internal control regulations in accounting (BL:088) (SP) 

  • Internal controls: Implement procedures to safeguard assets, ensure accuracy in financial reporting, and prevent fraud.

  • Financial reporting standards: Follow applicable financial reporting standards like GAAP (U.S.) or IFRS (International) to ensure transparency and accountability in financial statements.

  • Sarbanes-Oxley (SOX) Compliance: Ensure the establishment of internal controls over financial reporting (ICFR) to prevent errors or misstatements in financial reports.

  • Internal audits: Conduct regular internal audits to ensure adherence to policies, identify discrepancies, and maintain control over financial processes.

  • Whistleblower protections: Implement systems for employees to report financial misconduct without fear of retaliation, in line with SOX regulations.

• Discuss state regulation of the accounting industry (BL:090) (SP) 

  • State licensing: Accountants must be licensed by the state in which they practice, with requirements varying by jurisdiction.

  • CPA qualifications: Certified Public Accountants (CPAs) must meet state-specific education, experience, and examination requirements.

  • State-specific regulations: Each state may have different laws and standards for accounting practices, such as tax laws, financial reporting standards, and professional conduct guidelines.

  • State boards of accountancy: These boards enforce rules governing the profession, investigate complaints, and ensure that CPAs adhere to ethical and professional standards.

  • Continuing education: Accountants are often required by states to complete continuing professional education (CPE) to maintain their licensure and stay current with regulations.

• Comply with state regulations (BL:154) (SP) 

  • Local laws: Comply with state-specific tax codes, labor laws, and environmental regulations that impact accounting practices.

  • State taxes: Accountants must ensure businesses comply with state-level taxation requirements, including sales tax, income tax, and business taxes.

  • State-specific reporting: Businesses may need to submit financial reports and disclosures to state authorities, in addition to federal filings.

  • State audits and examinations: Businesses may be subject to audits by state tax authorities, requiring accountants to ensure records are accurate and compliant.

  • Licensing and permits: Ensure businesses hold the appropriate state licenses or permits for operations, including those that may affect accounting or financial operations.

Instructional Area: Financial Analysis (FI)

Performance Element: Classify, Record, and Summarize Data to Produce Needed Financial Information

1. Discuss the Nature of the Accounting Cycle (FI:342) (CS):
   The accounting cycle is a series of steps used to record and manage financial transactions of a business. It includes:

   • Identifying and analyzing transactions.

   • Recording journal entries.

   • Posting to the general ledger.

   • Preparing an unadjusted trial balance.

   • Adjusting entries.

   • Preparing financial statements.

   • Closing the books for the period.
     This systematic process ensures accurate financial reporting.

2. Distinguish Among Types of Business Transactions (FI:673) (CS):
   Business transactions are categorized into:

   • Operating Transactions: Regular activities like sales, purchases, and payments.

   • Investing Transactions: Buying or selling long-term assets.

   • Financing Transactions: Related to borrowing or equity, like issuing shares or loans.

3. Distinguish Among Types of Business Documentation (FI:674) (CS):
   Business documentation includes:

   • Invoices: Bills issued for sales or services.

   • Receipts: Proof of payment.

   • Purchase Orders: Requests to a supplier for goods or services.

   • Vouchers: Internal documents for payment approval.

4. Demonstrate the Effects of Transactions on the Accounting Equation (FI:378) (CS):
   The accounting equation, Assets = Liabilities + Equity, reflects a company’s financial position. Transactions like sales increase assets and equity, while expenses decrease equity. Borrowing increases assets and liabilities simultaneously.

5. Prepare a Chart of Accounts (FI:379) (CS):
   A chart of accounts lists all accounts a business uses, grouped into categories like assets, liabilities, equity, revenue, and expenses. Each account is assigned a unique number for easy reference.

6. Explain the Nature of Special Journals (FI:407) (CS):
   Special journals are used to streamline repetitive transactions, such as:

   • Sales Journal: For credit sales.

   • Cash Receipts Journal: For incoming cash.

   • Purchases Journal: For credit purchases.

   • Cash Payments Journal: For outgoing cash.

7. Journalize Business Transactions (FI:381) (CS):
   This involves recording transactions in the journal by entering:

   • Date of the transaction.

   • Account titles affected.

   • Debit and credit amounts.

   • Brief description.

8. Post Journal Entries to General Ledger Accounts (FI:382) (CS):
   Journal entries are transferred to individual accounts in the general ledger, summarizing all transactions under each account.

9. Prepare a Trial Balance (FI:383) (CS):
   A trial balance lists all accounts and their balances to ensure debits equal credits. Discrepancies indicate errors requiring correction.

10. Journalize and Post Adjusting Entries (FI:384) (CS):
    Adjusting entries ensure revenues and expenses are recorded in the correct period, such as accruals and deferrals.

11. Journalize and Post Closing Entries (FI:385) (CS):
    Closing entries transfer temporary account balances (revenues, expenses, dividends) to permanent accounts (retained earnings) to reset for the next period.

12. Prepare a Post-Closing Trial Balance (FI:386) (CS):
    This ensures all accounts are balanced after closing, containing only permanent accounts like assets, liabilities, and equity.

13. Identify and Correct Accounting Errors (FI:675) (SP):
    Errors can be corrected through reversal and adjusting entries. Methods include trial balance checks, reconciliation, and reviewing transaction documentation.

14. Prepare Worksheets (FI:387) (SP):
    Worksheets summarize financial data to prepare for adjustments and financial statements. They typically include trial balances, adjustments, and updated balances.

Performance Element: Maintain Cash Controls to Track Cash Flow

1. Explain Cash Control Procedures (FI:113) (CS):
   Cash control procedures include:

   • Signature cards for authorization.

   • Deposit slips for recording deposits.

   • Internal/external audits.

   • Regular cash clearing to prevent discrepancies.

2. Reconcile Cash (FI:396) (CS):
   Comparing the company’s records with bank statements to identify and correct discrepancies, ensuring accurate cash balances.

3. Account for Petty Cash (FI:676) (CS):
   Petty cash is a small fund for minor expenses. Records must track withdrawals and replenishments to ensure accountability.

4. Account for Cash Receipts (FI:677) (CS):
   Recording incoming cash involves issuing receipts, depositing funds, and updating accounts receivable or sales accounts.

5. Account for Cash Payments (FI:678) (CS):
   Recording outgoing cash includes updating accounts payable and expense accounts, supported by vouchers or checks.

Performance Element: Perform Accounts Payable Functions

1. Explain the Nature of Accounts Payable (FI:409) (CS):
   Accounts payable represents amounts owed to suppliers for goods or services. It is a liability recorded on the balance sheet.

2. Account for Purchases (FI:679) (CS):
   Recording purchases involves documents like purchase orders, invoices, and vouchers to ensure accuracy and prevent fraud.

3. Process Accounts Payable (FI:680) (SP):
   This includes maintaining vendor records, verifying invoices, posting entries to the ledger, and issuing payments.

Performance Element: Perform Accounts Receivable Functions

1. Explain the Nature of Accounts Receivable (FI:424) (CS):
   Accounts receivable are amounts owed by customers for credit sales, recorded as an asset.

2. Account for Sales (FI:682) (CS):
   Recording sales includes issuing invoices and updating sales and accounts receivable accounts.

3. Process Accounts Receivable (FI:683) (SP):
   This involves posting payments, managing uncollectible accounts, and reconciling records.

Performance Element: Maintain Inventory Records

1. Record Inventory Transactions (FI:432) (CS):
   Tracking purchases, sales, and returns in inventory accounts ensures accurate stock levels.

2. Process Inventory Adjustments (FI:435) (CS):
   Adjustments account for shrinkage, obsolescence, and returns, impacting inventory valuation.

3. Explain Methods Used to Value Inventory (FI:586) (CS):

   • FIFO (First-In, First-Out): Oldest inventory sold first.

   • LIFO (Last-In, First-Out): Newest inventory sold first.

   • Average Cost: Weighted average cost for all inventory.

4. Determine the Cost/Value of Inventory (FI:436) (SP):
   Includes purchase price, transportation costs, and adjustments for obsolescence or damage.

Performance Element: Implement suitable internal accounting controls

1. Explain the purpose of internal accounting controls (FI:343)

Internal controls prevent fraud, ensure accurate financial reporting, and safeguard assets.

2. Assess financial accounting fraud risk (FI:706)

Fraud risks are identified by:

• Monitoring unusual transactions.

• Regular audits and segregation of duties.

3. Determine components of internal accounting control procedures (FI:479)

Key components include:

• Segregation of duties.

• Authorization protocols.

• Physical controls (e.g., locks, passwords).

4. Maintain internal accounting controls (FI:480)

Ensure ongoing effectiveness through audits, reviews, and employee training.

Performance Element: Conduct an audit to verify financial reporting

1. Explain the nature of audits (FI:344)

Audits review financial records to ensure accuracy and compliance. Assurance engagements evaluate processes to provide confidence in reporting.

2. Distinguish between internal and external audits (FI:713)

• Internal audits: Conducted by employees to assess operations and controls.

• External audits: Performed by third parties for financial accuracy and regulatory compliance.

3. Describe auditing techniques/procedures (FI:714)

• Sampling transactions.

• Reconciling accounts.

• Reviewing internal controls.

4. Conduct audit engagements (FI:482)

Plan, execute, and document findings to present to stakeholders.

Performance Element: Utilize managerial accounting methods to track, record, and analyze costs

1. Maintain job order cost sheets (FI:450)

Track direct labor, materials, and overhead costs for individual jobs.

2. Calculate the cost of goods sold (FI:451)

COGS = Beginning Inventory + Purchases - Ending Inventory.

3. Apply cost accounting techniques (FI:726)

Use techniques like job costing, process costing, and ABC to allocate costs accurately.

Performance Element: Prepare budget reports

1. Explain types of budgeting systems (FI:728)

• Top-down: Senior management sets the budget.

• Bottom-up: Input comes from lower-level managers.

• Incremental: Adjusts prior budgets.

2. Project future revenues and expenses (FI:394)

Use historical data, trends, and market research to forecast financial performance.

3. Process preliminary budget detail (FI:460)

Organize projected revenues and expenses to create an initial draft for review.