Criteria For:

Honors-Ready Business Management and Administration - Level 4 2CR

Honors-Ready Business Management and Administration - Level 4 2CR

Program-of-Study Exam: Badge holder demonstrated an understanding of complex 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, project management, quality management, risk management, selling, and strategic management.

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:
Describe legal issues affecting businesses (BL:001) (SP)
Explain types of business ownership (BL:003, BL LAP 1) (CS)

Communication Skills (CO)

Standard: Understands the concepts, strategies, and systems used to obtain and convey ideas and information

Performance Indicators:
Prepare simple written reports (CO:094) (SP)
Write analytical reports (i.e., reports that examine a problem/issue and recommend an action) (CO:185) (SP)
Write research reports (CO:186) (SP)

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, CR LAP 4) (CS)
Develop rapport with customers (CR:029) (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) (CS)
Interpret business policies to customers/clients (CR:007) (CS)
Build and maintain relationships with customers (CR:030) (SP)
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) (CS)
Explain the role of ethics in customer relationship management (CR:017) (SP)
Describe the use of technology in customer relationship management (CR:018) (SP)
Explain management’s role in customer relations (CR:008) (MN)

Economics (EC)

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

Performance Indicators:
Distinguish between economic goods and services (EC:002, LAP-EC-010) (CS)
Explain the concept of economic resources (EC:003, LAP-EC-014) (CS)
Describe the concepts of economics and economic activities (EC:001, LAP-EC-006) (CS)
Determine economic utilities created by business and marketing activities (EC:004, LAP-EC-013) (CS)
Explain the principles of supply and demand (EC:005, LAP-EC-011) (CS)
Describe the functions of prices in markets (EC:006, LAP-EC-012) (CS)
Explain the role of business in society (EC:070, LAP-EC-020) (CS)
Describe types of business activities (EC:071, LAP-EC-019) (CS)
Describe types of business models (EC:138) (SP)
Explain the organizational design of businesses (EC:103, LAP-EC-023) (SP)
Discuss the global environment in which businesses operate (EC:104, LAP-EC-022) (SP)
Describe factors that affect the business environment (EC:105, LAP-EC-026) (SP)
Explain the nature of business ethics (EC:106, LAP-EC-021) (SP)
Explain how organizations adapt to today’s markets (EC:107, LAP-EC-025) (SP)
Explain the types of economic systems (EC:007, LAP-EC-017) (CS)
Identify the impact of small business/entrepreneurship on market economies (EC:065) (CS)
Explain the concept of private enterprise (EC:009, LAP-EC-015) (CS)
Identify factors affecting a business’s profit (EC:010, LAP-EC-002) (CS)
Determine factors affecting business risk (EC:011, LAP-EC-003) (CS)
Explain the concept of competition (EC:012, LAP-EC-008) (CS)
Determine the relationship between government and business (EC:008, LAP-EC-016) (CS)
Describe the nature of taxes (EC:072, LAP-EC-027) (SP)
Explain the concept of productivity (EC:013, LAP-EC-018) (CS)
Analyze impact of specialization/division of labor on productivity (EC:014, LAP-EC-007) (SP)
Explain the concept of organized labor and business (EC:015, LAP-EC-005) (SP)
Explain the impact of the law of diminishing returns (EC:023, LAP-EC-031) (SP)
Discuss the measure of consumer spending as an economic indicator (EC:081) (SP)
Describe the economic impact of inflation on business (EC:083, LAP-EC-028) (SP)
Explain the concept of Gross Domestic Product (GDP) (EC:017, LAP-EC-001) (SP)
Discuss the impact of a nation’s unemployment rates (EC:082, LAP-EC-029) (SP)
Explain the economic impact of interest-rate fluctuations (EC:084) (SP)
Determine the impact of business cycles on business activities (EC:018, LAP-EC-009) (SP)
Explain the nature of global trade (EC:016, LAP-EC-004) (SP)
Discuss the impact of globalization on business (EC:109) (SP)
Describe the determinants of exchange rates and their effects on the domestic economy (EC:100, LAP-EC-030) (SP)
Explain cultural considerations that impact global business relations (EC:110) (SP)
Discuss the impact of culture and social environments on global trade (EC:045, LAP-EC-024) (SP)
Describe the impact of electronic communication tools (e.g., Internet, video- and computer-conferencing, webcasts, email) on global business activities (EC:111) (SP)

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, LAP-FI-009) (CS)
Explain the concept of accounting (FI:085, LAP-FI-005) (CS) Discuss the role of ethics in accounting (FI:351) (SP)
Explain the use of technology in accounting (FI:352) (SP)
Explain legal considerations for accounting (FI:353) (SP)
Explain the role of finance in business (FI:354, LAP-FI-007) (CS)
Discuss the role of ethics in finance (FI:355) (SP)
Explain legal considerations for finance (FI:356) (SP)
Describe the nature of cash flow statements (FI:091, LAP-FI-006) (SP)
Explain the nature of balance sheets (FI:093, LAP-FI-010) (SP)
Describe the nature of income statements (FI:094, LAP-FI-004) (SP)
Describe the nature of budgets (FI:106, LAP-FI-003) (SP)
Explain the nature of operating budgets (FI:098) (SU)
Describe the nature of cost/benefit analysis (FI:357, LAP-FI-011) (MN)
Determine relationships among total revenue, marginal revenue, output, and profit (FI:358) (MN)
Develop company’s/department’s budget (FI:099, FI-LAP-099) (MN)
Forecast sales (FI:096) (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, LAP-HR-035) (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)
Delegate work to others (HR:386) (SU)
Coordinate efforts of cross-functional teams to achieve project/company goals (HR:387) (SU)
Manage collaborative efforts (HR:388) (SU)

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 the role of ethics in information management (NF:111) (SP)
Explain legal issues associated with information management (NF:076) (SP)
Describe the nature of business records (NF:001, NF LAP 1) (SP)
Maintain customer records (NF:002) (SP)
Describe current business trends (NF:013) (SP)
Monitor internal records for business information (NF:014) (SP)
Conduct an environmental scan to obtain business information (NF:015, NF LAP 2) (SP)
Interpret statistical findings (NF:093) (SP)
Translate research findings into actionable business recommendations (NF:216) (SP)
Explain the principles of data analysis (NF:139) (SP)
Discuss the nature of data mining (NF:148) (CS)

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, KM LAP 1) (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, LAP-OP-003) (CS)
Discuss the role of ethics in operations (OP:190) (SP)
Describe the use of technology in operations (OP:191) (SP)
Discuss legal considerations in operations (OP:339) (SP)
Explain the nature and scope of purchasing (OP:015, LAP-OP-002) (CS)
Explain the concept of production (OP:017, LAP-OP-004) (CS)
Explain the nature of project management (OP:158, LAP-OP-006) (SP)
Identify resources needed for project (OP:003) (SP)
Develop project plan (OP:001, LAP-OP-007) (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)
Place orders/reorders (OP:016) (CS)
Maintain inventory of supplies (OP:031) (CS)
Discuss types of inventory (OP:336) (CS)
Discuss the importance of utilizing ethical purchasing methods (OP:246) (SP)
Explain the impact of the purchasing process on productivity (OP:247) (SP)
Manage the bid process in purchasing (OP:160) (SP)
Select vendors (OP:161) (SP)
Evaluate vendor performance (OP:162) (SP)
Identify quality-control measures (OP:163, LAP-OP-008) (SP)
Utilize quality control methods at work (OP:164) (SP)
Describe crucial elements of a quality culture (OP:019) (SP)
Describe the role of management in the achievement of quality (OP:020) (MN)
Explain the nature of overhead/operating costs (OP:024, LAP-OP-009) (SP)
Explain employee’s role in expense control (OP:025, LAP-OP-005) (SP)
Control use of supplies (OP:026) (SU)
Conduct breakeven analysis (OP:192) (MN)
Discuss the nature of business analysis (OP:327) (SP)
Explain the concept of supply chain (OP:443) (CS)
Explain the benefits of supply chain collaboration (OP:444) (SP)
Explain the impact of supply chain on business performance (e.g., value, customer satisfaction, business design, sustainability) (OP:477) (SP)
Describe the impact of technology on supply chain management (OP:478) (SP)
Discuss the nature of supply chain management (OP:303) (SP)
Organize and prioritize work (OP:228) (CS)
Coordinate work with that of team members (OP:230) (CS)
Monitor and ensure completion of delegated tasks (OP:354) (SP)
Streamline work processes (OP:355) (SP)

Professional Development (PD)

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

Performance Indicators:
Discuss employment opportunities in business management and administration (PD:297, LAP-PD-019) (CS) 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)
Use networking techniques to identify employment opportunities (PD:037) (SP)
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)
Manage project team (PJ:007) (SP)
Manage project schedule (PJ:010) (SP)
Close project (PJ:008) (SP)


Quality Management (QM)

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:
Explain the role of ethics in risk management (RM:041) (SP)
Describe the use of technology in risk management (RM:042) (SP)
Discuss legal considerations affecting risk management (RM:043) (SP)

Strategic Development

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, LAP-SM-003) (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, LAP-SM-004) (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)
Discuss the nature of balanced scorecards (SM:078) (MN)
Describe factors that influence management (SM:028) (MN)
Explain the nature of business plans (SM:007, LAP-SM-001) (MN)
Identify and benchmark key performance indicators (e.g., dashboards, scorecards, etc.) (SM:027) (MN)
Select and apply metrics for measuring organizational success (SM:074) (MN)
Analyze operating results in relation to budget/industry (SM:005) (MN)
Describe relationship among innovation, learning, and change (SM:094) (CS)
Explain the nature of change management (SM:095) (SP)
Explain the nature of risk management (SM:075, LAP-FI-008) (SP)