Tabulate costs associated with inventory to support business productivity.
Explain effective management of inventory.
Calculate the cost and value of inventory.
Analyze the rate of inventory turnover.
Determine the value of ending inventory using average cost (weighted average), first in first out (FIFO), and last in first out (LIFO) and present scenarios in which each method is preferred.
Calculate and assess future costs of operation.
Estimate transportation costs.
Estimate equipment maintenance costs.
Calculate future equipment costs including taxes and transfer costs.
Analyze and track business income.
Analyze business income statements.
Analyze staffing costs and prepare staffing cost estimates, including recruitment, training, and hiring.
Explain the history and principles of lean manufacturing.
Find the inventory break-even point in a given scenario.
Incorporate safety procedures in handling, operating, and maintaining tools and machinery; handling materials; utilizing personal protective equipment; maintaining a safe work area; and handling hazardous materials and forces.
Demonstrate effective workplace and employability skills, including communication, awareness of diversity, positive work ethic, problem-solving, time management, and teamwork.
Explore the range of careers available in the field and investigate their educational requirements, and demonstrate job-seeking skills including resume-writing and interviewing.
Advocate and practice safe, legal, responsible, and ethical use of information and technology tools specific to the industry pathway.
Participate in a Career and Technical Student Organization (CTSO) to increase knowledge and skills and to enhance leadership and teamwork.
Discuss and demonstrate ways to value diversity.
Summarize ethical responsibilities of business owners toward employees and consumers
Research and share information on social responsibility of business owners to the community
Distinguish between ethical and unethical business practices
Explain rationales and options for resolving disputes
Examples: mediation, arbitration, legal action
Relate ethical, moral, and legal considerations to the decision-making process in business situations
Research and share information on legislation involving ethical issues
Examples: Fair Labor Standards Act, equal employment opportunity statutes, Employment Retirement Income Security Act, Family and Medical Leave Act
Gather and share information pertaining to regulation of interactions between businesses and office-holders, including campaign finance, government purchasing, conflicts of interest, and lobbying after leaving office
Research and share examples of unethical behaviors that have led to increased regulation of business and industry
Explain the role of insurance in risk management and mitigation
Explain the principles of insurance
Research and share information on types of insurance needed by businesses and the purpose of each type
Identify types of crimes businesses may commit
Examples: copyright and patent infringement, fraud, insider trading, tax evasion, bribery
List legal responsibilities of business owners to their customers, employees, and stakeholders
Identify legal responsibilities of businesses regarding e-business and e-marketing
Describe types of crimes directed toward businesses
Examples: vandalism, shoplifting, embezzlement, piracy, cybercrime, counterfeiting of products, copyright and trademark infringement
