Recognize the legal issues related to managing a business in the global environment Examine and determine the impact of laws and regulations governing global business Recognize the economic impact of laws and regulations governing global business Identify global economic factors that impact business Identify approaches used by global business firms Analyze the impact of the Read More…

Define inventory control Identify methods of inventory control Identify inventory control concerns Evaluate a system for maintaining inventory control Explain the concept of quality management and its evolution Explain why high quality and efficiency standards are necessary to compete in the global marketplace

Identify methods and tools to design or redesign products Evaluate a product design process Identify factors used in scheduling and the tools that assist in the process Evaluate the effectiveness and efficiency of a production schedule Explain the benefits of establishing and maintaining close working relationships with suppliers Identify the factors considered when selecting suppliers Read More…

Identify risks to business Identify ways to minimize and manage risk

Describe the purpose of financial statements Interpret the data shown on financial statements (e.g., income statement, balance sheet, cash flow statement, and statement of net worth) Distinguish between internal and external financial statements Benchmark a firm’s position against industry standards Analyze statistical tools useful in making financial decisions

Identify internal and external data sources and explain how businesses use them Analyze various sources of industry information Evaluate the reliability of internal and external data sources Describe how ongoing industry analysis is used to maintain competitive advantage

Describe ways to increase market share Compare various forms of competition (pure competition, monopolistic competition, oligopoly, and monopoly) Describe how various laws (e.g., Sherman Antitrust Act and Robinson-Patman Act) impact competition Describe the process of conducting an industry analysis Define benchmarking Discuss the importance of benchmarking Research and apply best practices, through benchmarking, for specific Read More…

Use appropriate technology tools for business applications Select the appropriate technology tools for conveying information, solving problems, and expediting business processes Define knowledge management Interpret, analyze, and synthesize information for use in decision making Recognize and demonstrate the knowledge management skills needed to make decisions Discuss the advantages and disadvantages of e-business Evaluate an e-business Read More…

Describe the history of the labor movement and why unions were organized Describe the collective-bargaining process Explain the role of labor unions and the process of collective bargaining Describe the process involved in forming, operating, and disbanding labor unions Explain the changing roles of labor unions Describe legal strategies used by labor and management (e.g., Read More…

Describe an employment contract Describe the common elements of a labor contract Outline the procedures involved in the grievance process Discuss the role of human resource personnel in the collective-bargaining process

Define and discuss the concept of rightsizing Describe legal reasons for terminating employees Discuss how internal and external factors affect rightsizing (e.g., economy, competition, and government regulations) Discuss an organization’s responsibility to provide retraining programs and severance packages for displaced or transitioning employees Describe criteria used to make termination and transition decisions Describe programs available Read More…

Identify compensation plans, benefit packages, and incentive programs available to employees Identify advancement opportunities within an organization Identify issues encountered when determining levels of compensation Discuss policies and procedures used to determine compensation (e.g., company performance, benchmarking, profit sharing, and gain sharing) Establish criteria for promotion decisions Describe the merits of reassignment and promotion versus Read More…

Explain why employees are evaluated Explain how employees are evaluated Identify the impact of performance appraisals on employees and the organization Assess the procedures used in the evaluation process Analyze the evaluation process based on existing legislation Analyze the impact of performance appraisals on motivation and job performance

Explain why orientation and training are necessary for successful employee performance Discuss why professional development is a shared responsibility between a business and an employee Identify appropriate orientation activities and training programs Recognize the value of cross training Describe the relationship between lifelong learning and professional development Identify the benefits of employee development (e.g., workshops, Read More…

Identify recruitment sources Identify selection tools and determine why they are used (e.g., interviews, tests, and reference checks) Identify legislation affecting the recruitment and selection process (e.g., affirmative action, right to privacy, and Americans with Disabilities act) Evaluate selection tools based on existing legislation Evaluate recruitment sources based on existing legislation Analyze recruitment and selection Read More…

Recognize the need for lifelong learning Identify avenues for professional growth (e.g., seminars, professional associations, and journals) Describe key components of a professional development plan Identify effective communication skills for the business environment Identify major problems that prevent effective communication in business Analyze types of communication that are appropriate for specific situations Evaluate communications for Read More…

Design and implement a time management schedule as a result of a time management analysis Evaluate and modify a time management plan as appropriate Analyze the value of time for managers at various levels of responsibilities within an organization Identify stressors in the business environment Determine appropriate reactions to stressors in the business environment Recognize Read More…

Identify the factors that influence an organization’s structure Discuss the interrelationships of a variety of organizational structures (e.g., line, line and staff, and functional) Describe line versus staff departments and the authority relationship between them Describe the effects of group dynamics on group decision making and consensus building Analyze organizational structures Compare divisional and departmental Read More…

Describe the interaction between and among management levels Differentiate between tall and flat organizational structures Analyze emerging trends in organizational structuring Describe how the strategic management process impacts various levels of management

Discuss the importance of the evaluating/ controlling function in the business environment Determine alternative actions (e.g., changing goals and changing strategies) when goals are not being met in a specific situation Determine the evaluating/controlling strategy for a given business situation Measure financial and non-financial performance and compare it with estab-lished standards Compare and contrast the Read More…