Accelerated Business Management and Administration - Level 4 2CR

Program-of-Study Exam: Badge holder demonstrated an understanding of strategic decision-making skills and knowledge needed to manage a business or department within an organization. Skills and concepts assessed focus on business law, communication skills, customer relations, economics, emotional intelligence, financial analysis, human-resources management, knowledge management, information management, marketing, operations, professional development, quality management, risk management, selling, and strategic management.

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Business Law (BL)

Standard: Understands business's responsibility to know, abide by, and enforce laws and regulations that affect business operations and transactions

Performance Indicators:
Explain types of business ownership (BL:003, BL LAP 1) (CS)

Customer Relations (CR)

Standard: Understands the techniques and strategies used to foster positive, ongoing relationships with customers

Performance Indicators:
Explain the nature of positive customer relations (CR:003, CR LAP 1) (CS)
Demonstrate a customer-service mindset (CR:004) (CS)
Reinforce service orientation through communication (CR:005) (CS)
Respond to customer inquiries (CR:006) (CS)
Adapt communication to the cultural and social differences among clients (CR:019)
Interpret business policies to customers/clients (CR:007) (CS)
Handle difficult customers (CR:009, CR LAP 3) (CS)
Handle customer/client complaints (CR:010) (CS)
Identify company’s brand promise (CR:001) (CS)
Determine ways of reinforcing the company’s image through employee performance (CR:002) (CS)
Discuss the nature of customer relationship management (CR:016, CR LAP 2) (SP)
Explain the role of ethics in customer relationship management (CR:017) (SP)
Describe the use of technology in customer relationship management (CR:018) (SP)

Economics (EC)

Standard: Understands the economic principles and concepts fundamental to business operations

Performance Indicators:
Distinguish between economic goods and services (EC:002, EC LAP 10) (CS)
Explain the concept of economic resources (EC:003, EC LAP 14) (CS)
Describe the concepts of economics and economic activities (EC:001, EC LAP 6) (CS)
Determine economic utilities created by business and marketing activities (EC:004, EC LAP 13) (CS)
Explain the principles of supply and demand (EC:005, EC LAP 11) (CS)
Describe the functions of prices in markets (EC:006, EC LAP 12) (CS)
Explain the types of economic systems (EC:007, EC LAP 17) (CS)
Explain the concept of private enterprise (EC:009, EC LAP 15) (CS)
Identify factors affecting a business’s profit (EC:010, EC LAP 2) (CS)
Determine factors affecting business risk (EC:011, EC LAP 3) (CS)
Explain the concept of competition (EC:012, EC LAP 8) (CS)
Explain the role of business in society (EC:070, EC LAP 20) (CS)
Describe types of business activities (EC:071, EC LAP 19) (CS)
Explain the organizational design of businesses (EC:103, EC LAP 23) (SP)
Discuss the global environment in which businesses operate (EC:104, EC LAP 22) (SP)
Describe factors that affect the business environment (EC:105, EC LAP 26) (SP)
Explain the nature of business ethics (EC:106, EC LAP 21) (SP)
Explain how organizations adapt to today’s markets (EC:107, EC LAP 25) (SP)
Determine the relationship between government and business (EC:008, EC LAP 16) (CS)
Describe the nature of taxes (EC:072) (SP)
Explain the concept of productivity (EC:013, EC LAP 18) (CS)
Analyze impact of specialization/division of labor on productivity (EC:014, EC LAP 7) (SP)
Explain the concept of organized labor and business (EC:015, EC LAP 5) (SP)
Explain the impact of the law of diminishing returns (EC:023) (SP)
Discuss the measure of consumer spending as an economic indicator (EC:081) (SP)
Describe the economic impact of inflation on business (EC:083) (SP)
Explain the concept of Gross Domestic Product (GDP) (EC:017, EC LAP 1) (SP)
Discuss the impact of a nation’s unemployment rates (EC:082) (SP)
Explain the economic impact of interest-rate fluctuations (EC:084) (SP)
Determine the impact of business cycles on business activities (EC:018, EC LAP 9) (SP)
Explain the nature of global trade (EC:016, EC LAP 4) (SP)
Describe the determinants of exchange rates and their effects on the domestic economy (EC:100) (SP)
Discuss the impact of cultural and social environments on global trade (EC:045, EC LAP 24) (SP)

Emotional Intelligence (EI)

Standard: Understands techniques, strategies, and systems used to foster self-understanding and enhance relationships with others

Performance Indicators:
Take responsibility for decisions and actions (EI:075) (PQ)
Manage commitments in a timely manner (EI:077) (CS)

Financial Analysis (FI)

Standard: Understands tools, strategies, and systems used to maintain, monitor, control, and plan the use of financial resources

Performance Indicators:
Describe the need for financial information (FI:579) (CS)
Explain the concept of accounting (FI:085, FI LAP 5) (CS)
Explain the role of finance in business (FI:354, FI LAP 7) (CS)
Explain the nature of risk management (FI:084, FI LAP 8) (SP)
Explain the use of technology in accounting (FI:352) (SP)
Explain legal and ethical considerations for accounting (SP) Combined (FI:353) and (FI:351)
Describe the nature of cash flow statements (FI:091, FI LAP 6) (SP)
Prepare cash flow statements (FI:092) (MN)
Explain the nature of balance sheets (FI:093) (SP)
Describe the nature of income statements (FI:094, FI LAP 4) (SP)
Explain legal and ethical considerations for finance (SP) Combined (FI:356) and (FI:355)
Describe the nature of budgets (FI:106, FI LAP 3) (SP)
Explain the nature of operating budgets (FI:098) (SU)
Describe the nature of cost/benefit analysis (FI:357) (MN)
Determine relationships among total revenue, marginal revenue, output, and profit (FI:358) (MN)
Develop company’s/department’s budget (FI:099) (MN)
Forecast sales (FI:096) (MN)
Describe types of financial statement analysis (e.g., ratio analysis, horizontal analysis, etc.) (FI:334) (MN)
Calculate financial ratios (FI:097) (MN)
Interpret financial statements (FI:102) (MN)

Human Resources Management (HR)

Standard: Understands the tools, techniques, and systems that businesses use to plan, staff, lead, and organize its human resources

Performance Indicators:
Discuss the nature of human resources management (HR:410, HR LAP 35) (CS)
Explain the role of ethics in human resources management (HR:411) (SP)
Describe the use of technology in human resources management (HR:412) (SP)
Assist others with prioritizing work responsibilities (HR:385) (SU)
Orient new employees (HR:360) (CS)

Information Management (NF)

Standard: Understands tools, strategies, and systems needed to access, process, maintain, evaluate, and disseminate information to assist business decision-making

Performance Indicators:
Discuss the nature of information management (NF:110, NF LAP 3) (CS)
Explain legal and ethical issues associated with information management (SP) Combined (NF:11) and (NF:076)
Utilize project-management software (NF:130) (SP)

Knowledge Management (KM)

Standard: Understands the systems, strategies, and techniques used to collect, organize, analyze, and share information known in an organization

Performance Indicators:
Explain the nature of knowledge management (KM:001) (SP)
Discuss the role of ethics in knowledge management (KM:002) (SP)
Explain the use of technology in knowledge management (KM:003) (SP)
Explain legal considerations for knowledge management (KM:004) (SP)
Identify techniques that can be used to capture and transfer knowledge in an organization (KM:005) (SP)

Marketing (MK)

Standard: Understands the tools, techniques, and systems that businesses use to create exchanges and satisfy organizational objectives

Performance Indicators:
Explain marketing and its importance in a global economy (MK:001, MK LAP 4) (CS)

Operations (OP)

Standard: Understands the processes and systems implemented to monitor, plan, and control the day-to-day activities required for continued business functioning

Performance Indicators:
Explain the nature of operations (OP:189, OP LAP 3) (CS)
Discuss the role of regulations and ethics in operations (SP) Combined (OP:190) and (OP:339)
Describe the use of technology in operations (OP:191) (SP)
Explain the nature and scope of purchasing (OP:015, OP LAP 2) (CS)
Explain the concept of production (OP:017,OP LAP 4) (CS)
Organize and prioritize work (OP:228) (CS)
Coordinate work with that of team members (OP:230) (CS)
Explain the nature of project management (OP:158) (SP)
Identify resources needed for project (OP:003) (SP)
Develop project plan (OP:001) (SP)
Apply project-management tools to monitor project progress (OP:002) (SP)
Evaluate project results (OP:159) (SP)
Describe types of purchase orders (OP:250) (CS)
Discuss types of inventory (OP:336) (CS)
Manage the bid process in purchasing (OP:160) (SP)
Maintain vendor/supplier relationships (OP:241) (SP)
Select vendors (OP:161) (SP)
Negotiate terms with vendors in business (OP:337) (SP)
Evaluate vendor performance (OP:162) (SP)
Identify quality-control measures (OP:163) (SP)
Utilize quality control methods at work (OP:164) (SP)
Describe crucial elements of a quality culture (OP:019) (SP)
Explain the nature of overhead/operating costs (OP:024) (SP)
Conduct breakeven analysis (OP:192) (MN)
Develop expense control plans (OP:029) (MN)
Use budgets to control operations (OP:030) (MN)
Discuss the nature of business analysis (OP:327) (SP)

Professional Development (PD)

Standard: Understands concepts, tools, and strategies used to explore, obtain, and develop in a business career

Performance Indicators:
Utilize job-search strategies (PD:026) (PQ)
Complete a job application (PD:027) (PQ)
Interview for a job (PD:028) (PQ)
Write a follow-up letter after job interviews (PD:029) (CS)
Write a letter of application (PD:030) (CS)
Prepare a résumé (PD:031) (CS)
Follow rules of conduct (PD:251) (CS)
Follow chain of command (PD:252) (CS)
Determine the nature of organizational goals (PD:254) (SP)
Ascertain employee’s role in meeting organizational goals (PD:255) (SP)

Project Management (PJ)

Standard: Understands tools, techniques, and systems that are used to plan, implement, monitor, and evaluate business projects

Performance Indicators:
Initiate project (PJ:005) (SP)
Prepare work breakdown structure (WBS) (PJ:006) (SP)
Execute and control projects (OP:340) (SP)
Manage project team (PJ:007) (SP)
Close project (PJ:008) (SP)

Quality Management (QM)

Standard: Understands the need for standards and the strategies and techniques used to implement, monitor, and evaluate them

Performance Indicators:
Explain the nature of quality management (QM:001, QM LAP 1) (SP)
Describe the nature of quality management frameworks (e.g., Six Sigma, ITIL, CMMI) (QM:002) (SP)
Discuss the nature of continuous improvement of the quality process (QM:003) (SP)

Risk Management (RM)

Standard: Understands risk-management strategies and techniques used to minimize business loss

Performance Indicators:
Describe the use of technology in risk management (RM:042) (SP)
Discuss legal and ethical considerations affecting risk management (SP) Combined (RM:043) and (RM:041)

Strategic Management (SM)

Standard: Understands tools, techniques, and systems that affect a business's ability to plan, control, and organize an organization/department

Performance Indicators:
Explain the concept of management (SM:001, SM LAP 3) (CS)
Discuss the nature of managerial planning (SM:063) (SP)
Explain managerial considerations in organizing (SM:064) (SP)
Describe managerial considerations in staffing (SM:065) (SP)
Discuss managerial considerations in directing (SM:066) (SP)
Describe the nature of managerial control (control process, types of control, what is controlled) (SM:004) (SP)
Explain the nature of managerial ethics (SM:002) (MN)
Explain management theories and their applications (SM:030) (MN)
Explain the nature of business plans (SM:007, SM LAP 1) (MN)
Analyze operating results in relation to budget/industry (SM:005) (MN)