HSB: Business Strategies - Level 5

Students earning the HSB Business Strategies badge will have developed knowledge and skills in areas that include business law, channel management, economics, entrepreneurship, financial analysis, human resources management, operations, pricing, promotion, selling, and strategic management.

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Instructional Area: Business Law (BL)

Performance Element: Understand human-resources laws and regulations to facilitate business operations.

Performance Indicator:
BL:007 Explain the nature of human resources regulations (SU)

Instructional Area: Channel Management (CM)

Performance Element: Manage channel activities to minimize costs and to determine distribution strategies.

Performance Indicator:
CM:010 Select channels of distribution (MN)

Instructional Area: Economics (EC)

Performance Element: Analyze cost/profit relationships to guide business decision-making.

Performance Indicator:
EC:015 Explain the concept of organized labor and business (SP) LAP-EC-915

Instructional Area: Entrepreneurship (EN)

Performance Element: Select harvesting strategies to identify entrepreneur's role in the business venture.

Performance Indicator:
EN:037 Develop exit strategies (ON)

Instructional Area: Financial Analysis (FI)

Performance Element: Manage financial resources to ensure solvency.

Performance Indicators:
FI:099 Develop company's/department's budget (MN) LAP-FI-099
FI:096 Forecast sales (MN)

Performance Element: Classify, record, and summarize data to produce needed financial information.

Performance Indicator:
FI:089 Maintain record of daily financial transactions (MN)

Instructional Area: Human Resources Management (HR)

Performance Element: Staff a business unit to satisfy work demands while adhering to budget constraints.

Performance Indicators:
HR:497 Schedule employees (SU)
HR:354 Screen job applications/resumes (SU)
HR:355 Interview job applicants (SU)
HR:356 Select and hire new employees (SU)

Performance Element: Manage staff growth and development to increase productivity and employee satisfaction.

Performance Indicators:
HR:362 Explain the role of training and human resources development (SU)
HR:392 Train staff (SU)
HR:368 Assess employee performance (SU)
HR:367 Ensure equitable opportunities for employees (SU)

Performance Element: Implement organizational skills to facilitate others' work efforts.

Performance Indicator:
HR:386 Delegate work to others (SU)

Performance Element: Implement talent-acquisition activities to obtain qualified staff.

Performance Indicator:
HR:498 Recruit new employees (SU)

Performance Element: Understand staff issues/problems to enhance productivity and improve employee relationships.

Performance Indicator:
HR:515 Discuss issues associated with workplace diversity (e.g., ethnic, generational, religious, gender) (SP)

Performance Element: Resolve staff issues/problems to enhance productivity and improve employee relationships.

Performance Indicator:
HR:366 Handle employee complaints and grievances (SU)

Instructional Area: Operations (OP)

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

Performance Indicator:
OP:676 Purchase inventory/supplies (SP)

Instructional Area: Pricing (PI)

Performance Element: Employ pricing strategies to determine optimal pricing.

Performance Indicator:
PI:007 Set prices (MN)

Instructional Area: Promotion (PR)

Performance Element: Implement and monitor promotional activities to maximize return on promotional efforts.

Performance Indicator:
PR:461 Promote good/service/idea (MN)

Instructional Area: Selling (SE)

Performance Element: Employ sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales.

Performance Indicator:
SE:046 Sell good/service/idea to individuals (SP)

Instructional Area: Strategic Management (SM)

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

Performance Indicator:
SM:080 Explain motivation theories and their applications (MN)

Performance Element: Utilize planning tools to guide organization's/department's activities.

Performance Indicator:
SM:013 Develop business plan (ON) LAP-SM-013

Performance Element: Control an organization's/department's activities to encourage growth and development.

Performance Indicator:
SM:006 Track performance of business plan (MN)

Performance Element: Adapt to and manage change within an organization to accomplish organizational objectives.

Performance Indicators:
SM:094 Describe relationship among innovation, learning, and change (CS)
SM:095 Explain the nature of change management (SP)

Performance Element: Identify potential business threats and opportunities to protect a business's financial well-being.

Performance Indicator:
SM:075 Explain the nature of risk management (SP) LAP-SM-075