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Foundational Standards

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.

Budgeting and Finance

Create and maintain complete, accurate, and necessary financial records including cash flow statements, balance sheets, income statements, and check registers

Evaluate various types of business budgeting methods and design a plan for money management

Identify and establish financial goals for a business

Describe sources of income for a business venture

List fixed and variable expenses

Describe various types of financial statements and how they are used to make business decisions

Analyze a balance sheet to determine the financial health of a business

Differentiate among assets, liabilities, and owner’s equity on a balance sheet

Differentiate between revenue and expenses on an income statement

Examine an income statement to determine whether the business has incurred a net income or a net loss

Business Concepts

Define and describe basic business concepts and how they are applied to business activities

Explain the roles of business in society

Describe types of business activities

Gather and share information on major causes of business failure

Describe how government policies affect businesses including spending, interest rates, and regulations

Identify and describe issues and trends in business

Identify conflict management strategies to resolve workplace conflict

Compare advantages and disadvantages of different configurations of businesses, including sole proprietorships, partnerships, corporations, franchises, and cooperatives

Explain how a business’s structure affects management decisions

Classify various businesses according to whether they market goods, provide services, or a combination of the two

Explain the principles of supply and demand

Explain the importance of using different marketing strategies for goods and for services

Explain the importance of developing and organizing a successful business plan

Describe the process of developing a business plan

Identify the components and format of a business plan

Explain the advantages of a well-prepared business plan