HSB: Principles of Business - Level 5

Students earning the HSB Principles of Business badge have demonstrated understanding and skills in areas that include business law, economics, financial analysis, human resources management, information management, marketing, operations, and strategic management.

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Instructional Area: Business Law (BL)

Performance Element: Acquire foundational knowledge of business laws and regulations to understand their nature and scope.

Performance Indicators:
BL:001 Describe legal issues affecting businesses (SP)

Performance Element: Apply knowledge of business ownership to establish and continue business operations.

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

Instructional Area: Economics (EC)

Performance Element: Understand fundamental economic concepts to obtain a foundation for employment in business.

Performance Indicators:
EC:002 Distinguish between economic goods and services (CS) LAP-EC-902
EC:003 Explain the concept of economic resources (CS) LAP-EC-903
EC:001 Describe the concepts of economics and economic activities (CS) LAP-EC-901
EC:004 Determine economic utilities created by business activities (CS) LAP-EC-013

Performance Element: Understand the nature of business to show its contributions to society.

Performance Indicators:
EC:070 Explain the role of business in society (CS) LAP-EC-070
EC:108 Discuss the evolution of business (SP)
EC:071 Describe types of business activities (CS) LAP-EC-071
EC:103 Explain the organizational design of businesses (SP) LAP-EC-103
EC:104 Discuss the global environment in which businesses operate (SP) LAP-EC-104
EC:105 Describe factors that affect the business environment (SP) LAP-EC-105
EC:106 Explain the nature of business ethics (SP) LAP-EC-106
EC:107 Explain how organizations adapt to today's markets (SP) LAP-EC-107

Performance Element: Understand economic systems to be able to recognize the environments in which businesses function.

Performance Indicators:
EC:007 Explain the types of economic systems (CS) LAP-EC-907
EC:009 Explain the concept of private enterprise (CS) LAP-EC-015
EC:010 Identify factors affecting a business's profit (CS) LAP-EC-910
EC:011 Determine factors affecting business risk (CS) LAP-EC-003
EC:012 Explain the concept of competition (CS) LAP-EC-912

Performance Element: Acquire knowledge of the impact of government on business activities to make informed economic decisions.

Performance Indicators:
EC:008 Determine the relationship between government and business (CS) LAP-EC-016

Performance Element: Understand global trade's impact to aid business decision-making.

Performance Indicator:
EC:016 Explain the nature of global trade (SP) LAP-EC-916
EC:045 Discuss the impact of cultural and social environments on global trade (SP) LAP-EC-045

Instructional Area: Financial Analysis (FI)

Performance Element: Acquire a foundational knowledge of accounting to understand its nature and scope.

Performance Indicators:
FI:085 Explain the concept of accounting (CS) LAP-FI-085

Performance Element: Acquire a foundational knowledge of finance to understand its nature and scope.

Performance Indicators:
FI:354 Explain the role of finance in business (CS) LAP-FI-354

Instructional Area: Human Resources Management (HR)

Performance Element: Understand the role and function of human resources management to obtain a foundational knowledge of its nature and scope.

Performance Indicators:
HR:410 Discuss the nature of human resources management (CS) LAP-HR-410

Instructional Area: Marketing (MK)

Performance Element: Understand marketing's role and function in business to facilitate economic exchanges with customers.

Performance Indicators:
MK:001 Explain marketing and its importance in a global economy (CS) LAP-MK-901

Instructional Area: Information Management (NF)

Performance Element: Acquire a foundational knowledge of information management to understand its nature and scope.

Performance Indicators:
NF:110 Discuss the nature of information management (CS) LAP-NF-110

Performance Element: Utilize information-technology tools to manage and perform work responsibilities.

Performance Indicators:
NF:003 Identify ways that technology impacts business (PQ) LAP-NF-003

Performance Element: Acquire information to guide business decision-making.

Performance Indicators:
NF:013 Describe current business trends (SP)
NF:015 Conduct an environmental scan to obtain business information (SP) LAP-NF-015

Instructional Area: Operations (OP)

Performance Element: Understand operation's role and function in business to value its contribution to a company.

Performance Indicators:
OP:189 Explain the nature of operations (CS) LAP-OP-189

Performance Element: Implement purchasing activities to obtain business supplies, equipment, resources, and services.

Performance Indicators:
OP:015 Explain the nature and scope of purchasing (CS) LAP-OP-015

Performance Element: Understand production's role and function in business to recognize its need in an organization.

Performance Indicators:
OP:017 Explain the concept of production (CS) LAP-OP-017

Instructional Area: Strategic Management (SM)

Performance Element: Recognize management's role to understand its contribution to business success.

Performance Indicators:
SM:001 Explain the concept of management (CS) LAP-SM-001