Business, Marketing, and Finance: Units 10-20 Only (2020)

Unit 10: Review of Workplace Safety and Security

Unit 11: International Economics

Unit 12: Personal Finance—Purchasing and Financial Institutions

Unit 13: Applied Human Resource Management

Unit 14: Strategic and Operations Management

Unit 15: Macroeconomics

Unit 16: Personal Finance—Credit and Personal Risk Management

Unit 17: Financial Accounting

Unit 18: Budgets and Forecasting in Finance

Unit 19: Managerial Accounting

Unit 20: Employment Opportunities in Business

Maintain a healthy workplace environment. DOK2

Examine the design of workplace spaces that allow each employee to work comfortably without needing to overreach, sit or stand too long, or use awkward postures. DOK1

Analyze the role of government in economic systems, especially the role of government in the U.S. economy. DOK3

Examine the role of trade, protectionism, and monetary markets in the global economy. DOK3

Evaluate how growing international economic interdependence causes economic conditions and policies in one nation to be increasingly affected by economic conditions and policies in another nation. DOK3

Recognize that voluntary exchange occurs only when all participating parties expect to gain. DOK3

Evaluate how and why both production and consumption increase when individuals, regions, and nations specialize in what they can produce at the lowest cost and then trade with others. DOK3

Explain how investment in factories, machinery, new technology, and in the health, education, and training of people stimulates economic growth and can raise future standards of living. DOK2

Apply a decision-making model to maximize consumer satisfaction when buying goods and services. DOK2

Differentiate between the advantages and disadvantages of renting, leasing, and owning. DOK 3

Interpret the differences in payment types, including debit cards, credit cards, prepaid cards, cash advances, and payday loans. DOK2

Evaluate services provided by financial deposit institutions to transfer funds. DOK2

Analyze management functions and their implementation and integration within the business environment. DOK1

Develop personal management skills to function effectively and efficiently in a business environment. DOK2

Examine the role of ethics and social responsibility in decision making. DOK3

Describe human resource functions and their importance to an organization’s successful operation. DOK1

Describe the role of organized labor and its influence on government and business.DOK2

Analyze the organization of a business. DOK1

Examine intellectual property issues of copyrights, patents, and trademarks. DOK2

Apply operations management principles and procedures to the design of an operation plan. DOK1

Examine the issue of corporate culture and managing in the global environment. DOK1

Examine factors that lead to long-term sustainability within a business. DOK2

Compare and contrast fiscal and monetary policy. DOK2

Explain the importance of productivity and analyze how specialization, division of labor, investment in physical and human capital, and technological change affect productivity and global trade. DOK3

Analyze factors that affect the choice of credit, the cost of credit, and the legal aspects of using credit. DOK2

Analyze choices available to consumers for protection against risk and financial loss.DOK1

Describe how people make choices to protect themselves from the financial risk of lost income, assets, health, or identity. DOK1

Insurance allows people to transfer risk by paying a fee now to avoid the possibility of a larger loss later. DOK2

Understand the role accountants play in business and society. DOK1

Identify and describe generally accepted accounting principles (GAAP), explain how the application of GAAP impacts the recording of financial transactions, and the preparation of financial statements. DOK3

Develop an understanding and working knowledge of an annual report and financial statements. DOK4

Complete the steps in the accounting cycle to prepare the financial statements. DOK1

Recognize that businesses must establish, maintain, and analyze appropriate records to make business decisions. DOK2

Analyze a business organization’s competitive position within the industry. DOK2

Analyze financial data influenced by internal and external factors to make short-term and long-term decisions. DOK3

Assess the financial condition and operating results of a company, and analyze and interpret financial statements. DOK3

Use planning and control principles to evaluate the performance of an organization and apply differential analysis and present-value concepts to make decisions. DOK2

Develop a working knowledge of individual and business income tax procedures and requirements to comply with tax laws and regulations. DOK1

Research available jobs across business sectors to develop a chart that compares the following elements: DOK1

Analyze differences in online application requirements from a real job search. DOK1

Research and select a real job advertisement, then complete the following: DOK2

Demonstrate real world interview skills led by the instructor and/or advisory/craft committee members to include the following: DOK2

Hand write customized thank you letters to each member of the interview committee.DOK1

Document project or activity artifacts in the ePortfolio according to the teacher-generated rubric. DOK1

Explore online safety resources and/or trainings (e.g., Youth at Work by Occupational Safety and Health Administration and produce a report of a real-world setting thatcontains the following elements:

Research ergonomic workspace design and identify ergonomic issues from pictures that are presented to students.

Research government’s role in the economy to discuss circular flow and how government is one of the three sectors, along with households and businesses, to include:

Based on research/evidence, engage in a structured debate concerning the government’s role in raising the minimum wage while focusing on intended and unintended consequences.

Based on research/evidence, develop a report analyzing a country that exports products to the US. Use data and statistics to justify an import policy dealing with that particular country.

Research protectionism and create a multimedia presentation discussing the pros and cons to include barriers to trade (tariffs, quotas, sanctions, and embargoes).

Research a country that the US trades (imports/exports) with and prepare a multimedia presentation that shows why there is an economic interdependence among nations in the global economy.

Construct explanations of observed trade relationships among individuals or organizations within a nation and among individuals or organizations in different nations.

Based on a class trading game or activity, analyze and interpret data to explain benefits and impacts of domestic and international trade.

Develop a widget-based activity or game that functions to reveal well-known benefits of specialization of labor principles.

Write a report on the pros and cons of specialization/division of labor and craftsmanship/individual labor.

Using web-based research (i.e. Central Intelligence Agency World Factbook, Heritage Foundation, etc.), populate a detailed online database comparing and contrasting GDPs.

Research a product and apply the following decision-making model to that product to maximize consumer satisfaction:

Develop, revise, or populate a graphical chart comparing and contrasting the advantages and disadvantages of the following:

Using information from the graphical chart (2.a. above), create a video and/or multimedia presentation explaining your future plans of renting, leasing, or owning and explain why

Research the various payment types and create a multimedia presentation explaining the pros and cons of each of the following types:

Identify and discuss the following services:

Research the differences between different types of financial institutions to develop a multimedia presentation comparing various services provided by three local institutions (at least one bank and one credit union) explaining which you would choose.

Discuss the various responsibilities and steps involved in opening and using a checking account.

In student groups, research the functions of management and communicate findings in multiple formats (verbally, graphically, textually, and/or mathematically). Include the following elements:

Determine how personal management skills affect employability and create a new employee training video that models proper practices of the following:

Research case studies analyzing unethical business behaviors to generate and compare multiple solutions; engage in a class debate regarding the optimal solution.

Classify and explain observed relationships between the following elements:

Research recent collective bargaining, mediation, and binding arbitration cases among well-known parties, such as major league sports, United Auto Workers, or others.

In an industry-simulated scenario, engage in negotiations between an employer, labor union, and mediator (teacher) in which the labor union has 12 demands.

Evaluate the basic forms of ownership to create a graphic organizer to include the advantages and disadvantages for each of following:

Research well-known cases of copyright infringement to determine if a student-generated creative work does or does not violate copyright law.

Analyze a modern manufacturing industry simulation to properly apply operations management principles and procedures to include:

Research modern businesses’ cultures and evaluate the attributes of their corporate culture in the context of the global environment.

Determine how financial health, social engagement, and corporate citizenship affect the long-term success of a business in terms of the triple bottom line, which includes:

Contact a local business and evaluate its business practices. Research and discuss how that business could make decisions to ensure the sustainability of the business, and create a report making recommendations to the business on how it can implement some of the solutions.

Evaluate the impact each of the tools the Federal Reserve uses to achieve nation’s monetary policy goals and how it relates to the economic health of the US.

Explore how Congress and the president work together to create fiscal policy through the implementation of a national budget.

Distinguish the costs imposed by unemployment through unemployment’s effect on individuals and the overall economy.

Define unemployment rate and determine how the number of people without gainful employment differs from the number of working-age people who are actively seeking employment.

Evaluate how prosperity impacts and influences the unemployment rate. (The unemployment rate increases during recessions and decreases during periods of recovery.)

Produce a simple product through a group activity to investigate the characteristics of productivity and determine how the rate of output correlates to the degree of productivity. Compare and contrast the results after incorporating the following changes:

Explore the concept of business cycles as it relates to fluctuations in the national economy from times of expansion through times of contraction. DOK3

Based on research, create a storyboard, graphic novel, comic strip, mind map, time line or related visual representation that depicts the following elements:

Through a teacher-led discussion, identify and apply the following acts to various scenarios:

Use free online modules from third-party, personal financial literacy courses to define, investigate, and determine how risk affects the potential for financial loss. Generate scores or certificates of completion if possible.

Define risk as the potential for loss and explore various consumer behaviors that would be considered no risk, moderate risk, and high risk.

Explore how consumers can choose to accept risk, reduce risk, or transfer the risk to others.

Explore how individuals and businesses use various insurance products to protect themselves from potential financial risk. Create a graphic organizer to compare each.

Research roles accountants play in different businesses to generate a report that includes:

Using GAAP accountability principles below, develop simple marketing scenarios (e.g.,cartoons or 20 second commercials) to be used by a federal regulatory agency (e.g., the U.S. Securities and Exchange Commission) to discourage unethical practices. Include the following principles:

Conduct a case study involving fraud, compliance, or regulatory issues to explain how penalties and other outcomes could have been avoided if GAAP principles were followed.

Create a presentation (multimedia, poster, song, report, video, role play, etc.) based on research that explains in detail the following three main financial statements in accounting:

Apply each step of the basic accounting cycle to an existing account provided by the teacher or a local business to include:

Construct a forecast of observed relationships between the different types of accounting records shown below.

Create tables, graphs, and/or infographics comparing and/or contrasting market share between two rival companies (e.g., Apple and Samsung; Pepsi and Coca Cola; Toyota and Ford; etc.).

Acting as consultants for a local business, research and analyze internal and external factors (listed below) to recommend short- and long-term strategic decisions that maximize profit.

Establish a class business or fundraiser to determine financial conditions and create statements of the operation to include:

Using a teacher-generated or online business simulation (e.g., online coffee stand), apply differential analysis to evaluate the business’s performance.

Using a free, online resource (e.g., IRS.gov’s “Understanding Taxes” Modules 1-13 for individual, FedReserve’s “Inside the Vault”, or EverFi), classify and connect types of taxes, laws, and regulations (listed below) to include completion of a Schedule C and 1040.

Minimum education

Certifications

Minimum experience

Job description/responsibilities

Salary

Develop a cover letter to fit the job advertisement using terminology that reflects the culture and values specific to that company.

Create a resume with fabricated elements to fit the real job advertisement.

Aligned to a specific industry/job advertisement

Professional attire

Cover letter

Application and/or resume

Equipment

Workstation design

Physical environment (i.e., temperature, humidity, light, task design)

Psychological factors (i.e., personal interactions, work pace, job control)

Workplace hazards

Taxes

Regulations (laws)

Public services (parks, schools, government employees such as teachers, police, fire, roads, welfare, Medicaid, etc.)

Monetary and nonmonetary incentives

Recognize the problem (e.g., I need a new television.)

Information searching (e.g., What televisions are available?)

Evaluation of alternatives (e.g. Do I really need the television, and, if so, which one?)

Purchase (e.g., Buy the television.)

Post-purchase satisfaction or dissatisfaction (e.g., Did the television deliver on what was promised in the marketing/advertising campaign?)

Share the decision-making model on the product you picked on a discussion board (real or virtual) and respond to a minimum of two of your classmates’ posts.

Renting

Leasing

Owning

Debit cards

Cash advances

Credit cards

Payday loans

Prepaid cards

Checking accounts

Savings accounts

Credit cards

Mortgages

Student loans

Auto loans

Debit cards

Online banking

Signature loan

ATMs

Money market account

High-interest money market account (HIMMA)

Planning

Organizing

Staffing

Directing

Controlling

Time management skills

Emotional intelligence

Imagination and innovation

Critical-thinking skills

Acquiring: recruiting, interviewing and hiring

Developing (e.g., on-boarding, in-service, and off-boarding): formal training (aside from formal work environment, and informal [within work environment])

Compensating: payroll, salary, wages, commission, and fringe benefits

Sole proprietorship

Partnership

Corporation and LLCs (S corporation, C corporation and LLCs)

Alternative forms of ownership (franchise, cooperative and nonprofit)

Benchmarking

Continuous improvement (Six Sigma, Lean Production, Total Quality Management [TQM] and Kaizen)

Beliefs and assumptions: things we hear, observe, and learn, and things we try, fail at, then retry

Perceptions: mission and vision, adaptability, consistency and involvement

Thoughts and feelings

People: the impact of business decisions have on the people employed by the business and the consumers of the business

Planet: the environmental impact the business has on its ecological surroundings

Profit: the economic impact of the company (profit = revenue - costs)

Tools: discount rate, open-market operations, reserve requirements, and interest on reserves

Identify methods the government uses to collect tax revenue to fund the national budget.

Distinguish between a budget deficit, budget surplus, and a balanced budget and debate the advantages and disadvantages of adopting a balanced budget amendment.

Specificity of task

Process

Technological advancements

Construct explanations of observed relationships between phases of the business cycle (contraction, expansion, peak, and recession) using examples of past technological successes (e.g., compact discs, videocassette recorder, pagers/beepers, etc.)

How credit cards work

Risks of using credit

How to build a high credit score

Truth in Lending Act

Fair Credit Billing Act

Fair Credit Reporting Act

Fair Debt Collection Practices Act

The Credit CARD Act

Education/training requirements

Certifications

Average salary

Job description

Job outlook

Recognition: What items should be recognized in the financial statements (for example as assets, liabilities, revenues, and expenses)?

Measurement: What amounts should be reported for each of the elements included in financial statements

Presentation: What line items, subtotals, and totals should be displayed in the financial statements, and how might items be aggregated within the financial statements?

Disclosure: What specific information is most important to the users of the financial statements? Disclosures both supplement and explain amounts in the statements.

Balance sheet

Income statement

Cash flow statement

Analyzing the transactions as they occur

Recording transactions in the journals

Posting debits and credits from journal entries to the general ledger

Adjusting the assets with a trial balance

Preparing financial statements (balance sheet, income statement, cash flow statement)

Closing the temporary accounts

Accounting records (e.g. income statement, balance sheet, cash flow statement) record income, expenses, and equity and are needed to file tax returns.

Bank statements help keep track of the business’s progress and are needed to file tax returns

Internal factors: business structure (human capital, infrastructure), size of corporation, and perception of value

External factors: economic conditions, competitors, and social and political change

Conditions: profitability, cash flow, liquidity, and leverage

Statements: balance sheet, income statement, and cash flow statement

Types of taxes: proportional, progressive, and regressive taxes

Tax laws and regulations: filing quarterly versus annually and exemptions