Identify the types of compensatory damages resulting from product liability.
Describe how employing a risk management consultant can benefit a business.
Investigate, interpret, and share information on the benefits of protection for a company’s principals.
Discuss and explore key person life insurance and the difficulty involved in replacement of key persons.
Gather and share information on succession planning, including how it can benefit a company.
Build a commercial insurance plan for a selected business.
Determine the insurance needs of the commercial customer.
Identify risks present and the insurance coverage needed to protect the commercial business from these risks.
Skills Application
Research and share information on procedures an insurance agent follows to file a commercial property claim.
Ethics
Discuss the implications of unethical insurance practices in risk management and commercial insurance.
Career Opportunities
Investigate credentialing opportunities and requirements related to risk management and commercial insurance.
Economics and Financial Services
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.
Economic Systems
Describe different types of business organization.
Compare the features of sole proprietorship, partnership, and corporation.
List and explain the advantages and disadvantages of forming a corporation.
Investigate and share reasons for corporate acquisitions and mergers, giving examples of actual events.
Summarize how economic stability impacts growth of the economy.
Explain the concept of economic growth, including how it fits into the business cycle and why it is considered desirable.
Explain the four stages of the business cycle, citing examples for each stage from United States and world history.
Market Systems
Compare and contrast major features of a variety of economic systems.
Describe major economic philosophies, utilizing the terms profit, market, and market system .
Explain concepts associated with trade among nations.
Describe the four basic levels of international business activities: domestic, international, multinational and global.
