Criteria For:

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

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

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:
Discuss consumer rights (CS)
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:
Identify sources that provide relevant, valid written material (CO:054) (PQ)
Extract relevant information from written materials (CO:055) (PQ)
Apply written directions to achieve tasks (CO:056) (PQ)
Follow directions (CO:119, QS LAP 24) (PQ)
Demonstrate active listening skills (CO:017, QS LAP 1) (PQ)
Explain the nature of effective verbal communications (CO:147) (PQ)
Ask relevant questions (CO:058) (PQ)
Interpret others’ nonverbal cues (CO:059) (PQ)
Provide legitimate responses to inquiries (CO:060) (PQ)
Give verbal directions (CO:083) (PQ)
Make oral presentations (CO:025, QS LAP 9) (SP)
Employ communication styles appropriate to target audience (CO:084) (CS)
Defend ideas objectively (CO:061) (CS)
Handle telephone calls in a businesslike manner (CO:114) (CS)
Participate in group discussions (CO:053, QS LAP 29) (CS)
Utilize note-taking strategies (CO:085) (CS)
Organize information (CO:086) (CS)
Select and use appropriate graphic aids (CO:087) (CS)
Explain the nature of effective written communications (CO:016) (CS)
Select and utilize appropriate formats for professional writing (CO:088) (CS)
Edit and revise written work consistent with professional standards (CO:089) (CS)
Write professional e-mails (CO:090) (CS)
Write business letters (CO:133) (CS)
Write informational messages (CO:039) (CS)
Write inquiries (CO:040) (CS)
Explain the nature of staff communication (CO:014) (CS)
Choose appropriate channel for workplace communication (CO:092) (CS)
Participate in a staff meeting (CO:063) (CS)
Analyze company resources to ascertain policies and procedures (CO:057) (CS)
Write persuasive messages (CO:031) (SP)
Write executive summaries (CO:091) (SP)
Prepare simple written reports (CO:094) (SP)
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) (CS)
Interpret business policies to customers/clients (CR:007) (CS)
Prepare complex written reports (CO:009) (MN)
Display data in charts/graphs or in tables (IM:347) (SP)
Prepare and use presentation software to support reports (IM:386) (SP)
Prepare written reports for decision-making (IM:390) (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)
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)

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)
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 culture and social issues 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:
Describe the nature of emotional intelligence (EI:001; QS LAP 14, EI LAP 6) (PQ)
Explain the concept of self-esteem (EI:016) (PQ)
Assess personal strengths and weaknesses (EI:002; QS LAP 16, EI LAP 17) (PQ)
Recognize personal biases and stereotypes (EI:017) (PQ)
Identify desirable personality traits important to business (EI:018, EI LAP 9) (PQ)
Exhibit self-confidence (EI:023) (PQ)
Demonstrate interest and enthusiasm (EI:020) (PQ)
Demonstrate initiative (EI:024, EI LAP 2) (PQ)
Demonstrate responsible behavior (EI:021, PD LAP 7) (PQ)
Demonstrate honesty and integrity (EI:022) (PQ)
Demonstrate ethical work habits (EI:004; QS LAP 8, EI LAP 4) (PQ)
Exhibit positive attitude (EI:019, EI LAP 3) (PQ)
Demonstrate self-control (EI:025, EI LAP 14) (PQ)
Explain the use of feedback for personal growth (EI:003; QS LAP 20, EI LAP 15) (PQ)
Adjust to change (EI:026) (PQ)
Respect the privacy of others (EI:029) (PQ)
Show empathy for others (EI:030, EI LAP 12) (PQ)
Exhibit cultural sensitivity (EI:033, EI LAP 11) (CS)
Use appropriate assertiveness (EI:008; QS LAP 4, EI LAP 18) (PQ)
Use conflict-resolution skills (EI:015; QS LAP 12, EI LAP 7) (CS)
Explain the nature of effective communications (EI:007, QS LAP 25) (PQ)
Participate as a team member (EI:045, QS LAP 6) (CS)
Explain the concept of leadership (EI:009; QS LAP 27, EI LAP 16) (CS)
Determine personal vision (EI:063, QS LAP 11) (CS)
Demonstrate adaptability (EI:006, QS LAP 15) (CS)
Develop an achievement orientation (EI:027, EI LAP 10) (CS)
Lead change (EI:005, QS LAP 23) (CS)
Enlist others in working toward a shared vision (EI:060, EI LAP 13) (CS)
Coach others (EI:041, QS LAP 7) (CS)
Treat others fairly at work (EI:036, EI LAP 20) (PQ)
Foster positive working relationships (EI:037, EI LAP 5) (CS)
Explain ethical considerations in providing information (EI:038) (SP)
Persuade others (EI:012) (SP)
Demonstrate negotiation skills (EI:062, EI LAP 8) (SP)
Explain the nature of stress management (EI:028) (SP)
Use consensus-building skills (EI:011, EI LAP 19) (SP)
Motivate team members (EI:059) (SP)
Maintain collaborative partnerships with colleagues (EI:061) (SP)
Explain the impact of political relationships within an organization (EI:034) (SP)
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:
Explain forms of financial exchange (e.g., cash, credit, debit, electronic funds transfer, etc.) (FI:058) (PQ)
Identify types of currency (e.g., coins, paper money, banknotes, etc.) (FI:059) (PQ)
Describe the functions of money (e.g., medium of exchange, unit of measure, store of value, incentive) (FI:060) (PQ)
Explain the time value of money (FI:062) (CS)
Explain the purposes and importance of credit (FI:002, FI LAP 2) (CS)
Explain legal responsibilities associated with financial exchanges (FI:063) (CS)
Explain the need to save and invest (FI:270, QS LAP 30) (CS)
Determine personal net worth (FI:562) (CS)
Set financial goals (FI:065, QS LAP 31) (CS)
Develop personal budget (FI:066) (CS)
Describe sources of income (e.g., wages/salaries, interest, rent, dividends, transfer payments, gift funds, inheritances, etc.) (FI:061) (PQ)
Discuss types of loans (e.g., mortgages, auto loans, college loans, etc.) (FI:563) (CS)
Complete loan applications (FI:033) (SP)
Explain the nature of tax liabilities (FI:067) (PQ)
Interpret a pay stub (FI:068) (PQ)
Prepare bank account documents (e.g., checks, deposit/withdrawal slips, endorsements, etc.) ( FI:560) (PQ)
Maintain financial records (FI:069) (PQ)
Reconcile bank statements (FI:070) (PQ)
Pay bills (FI:565) (PQ)
Contest incorrect bills (FI:566) (CS)
Demonstrate the wise use of credit (FI:071) (CS)
Validate credit history (FI:072) (CS)
Protect against identity theft (FI:073) (CS)
Control debt (FI:568) (CS)
Prepare personal income tax forms (FI:074) (CS)
Describe types of financial-services providers (FI:075) (CS)
Discuss considerations in selecting a financial-services provider (FI:076) (CS)
Explain types of investments (FI:077, QS LAP 32) (CS)
Discuss the nature of retirement planning (FI:569) (CS)
Describe sources of securities information (FI:274, QS LAP 36) (CS)
Read/Interpret securities tables (FI:275, QS LAP 37) (SP)
Describe the concept of insurance (FI:081) (CS)
Explain the nature of estate planning (FI:572) (CS)
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)
Describe the nature of cash flow statements (FI:091, FI LAP 6) (SP)
Explain the nature of balance sheets (FI:093) (SP)
Describe the nature of income statements (FI:094, FI LAP 4) (SP)
Describe the nature of budgets (FI:106, FI LAP 3) (SP)
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 purpose of internal accounting controls (FI:343) (SP)
Prepare cash flow statements (FI:092) (MN)
Explain methods used to account for inventory (e.g., FIFO, LIFO, average cost, etc.) (SP)
Discuss the role of ethics in finance (FI:355) (SP)
Explain legal considerations for finance (FI:356) (SP)
Explain the nature of sales forecasts (MP:013) (SP)
Calculate the time value of money (SP)
Discuss the nature of pro forma statements (FI:509) (SP)
Discuss the nature of working capital/cash flow management (FI:513) (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)
Analyze cash-flow patterns (MN)
Manage cash flow (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)
Discuss the use of benchmarks when analyzing ratios (FI:556) (MN)
Conduct cost-volume-profit analysis (FI:454) (MN)
Determine actual product costs (MN)
Develop standard product costs (FI:455) (MN)
Conduct marginal analysis (MN)
Conduct variance analysis (FI:458) (MN)
Allocate budget (FI:320) (MN)
Calculate return on investment (ROI) (FI:321) (MN)
Measure cost-effectiveness of expenditures (FI:325) (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)
Orient new employees (HR:360) (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)

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)

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)
Describe marketing functions and related activities (MK:002, MK LAP 1) (CS)
Explain factors that influence customer/client/business buying behavior (MK:014) (SP)
Discuss actions employees can take to achieve the company’s desired results (MK:015, MK LAP 2) (SP)
Demonstrate connections between company actions and results (e.g., influencing consumer buying behavior, gaining market share, etc.) (MK:019, MK LAP 3) (SP)

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)
Explain the nature and scope of purchasing (OP:015, OP LAP 2) (CS)
Explain the concept of production (OP:017,OP LAP 4) (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)
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, OP LAP 6) (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 measures/techniques (OP:163) (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)
Discuss the nature of business analysis (OP:327) (SP)
Explain the nature of overhead/operating costs (OP:024) (SP)
Explain employee’s role in expense control (OP:025, OP LAP 5) (SP)
Conduct breakeven analysis (OP:192) (MN)
Develop expense control plans (OP:029) (MN)
Use budgets to control operations (OP:030) (MN)
Track budgets (OP:185) (MN)

Professional Development (PD)

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

Performance Indicators:
Maintain appropriate personal appearance (PD:002, PD LAP 5) (PQ)
Demonstrate systematic behavior (PD:009) (PQ)
Make responsible financial decisions (PD:271) (CS)
Explain the nature of bonds (SE:428, QS LAP 33) (SP)
Explain the nature of stocks (SE:421, QS LAP 34) (SP)
Describe the nature of mutual funds (SE:429, QS LAP 35) (SP)
Set personal goals (PD:018; QS LAP 22, PD LAP 16) (CS)
Explain the need for innovation skills (PD:126) (CS)
Make decisions (PD:017; QS LAP 2, PD LAP 10) (CS)
Demonstrate problem-solving skills (PD:077; QS LAP 26, PD LAP 17) (CS)
Use time-management skills (PD:019, OP LAP 1) (SP)
Demonstrate appropriate creativity (PD:012) (SP)
Identify sources of career information (PD:022) (CS)
Identify tentative occupational interest (PD:023) (CS)
Explain employment opportunities in business (PD:025, PD LAP 15) (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)
Describe techniques for obtaining work experience (e.g., volunteer activities, internships, etc.) (PD:032) (PQ)
Explain the need for ongoing education as a worker (PD:033) (PQ)
Explain possible advancement patterns for jobs (PD:034) (PQ)
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)
Describe the scope of costs in managerial accounting (e.g., direct cost, indirect cost, sunk cost, differential cost, etc.) (PD:275) (SP)
Discuss the use of cost-volume-profit analysis (PD:169) (SP)
Discuss cost accounting systems (e.g., job order costing, process costing, etc.) (PD:170) (SP)
Explain methods used to allocate overhead costs in a cost accounting system (e.g., activity-based costing [ABC], traditional costing, etc.) (PD:276) (SP)
Discuss the role of standard costing in managerial accounting (PD:172) (SP)
Discuss the use of variance analysis in managerial accounting (PD:173) (SP)
Describe marginal analysis techniques and applications (PD:277) (MN)
Discuss the nature of balanced scorecards (PD:278) (MN)

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)

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, 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)
Identify and benchmark key performance indicators (e.g., dashboards, scorecards, etc.) (SM:027) (MN)
Analyze operating results in relation to budget/industry (SM:005) (MN)
Track performance of business plan (SM:006) (MN)
Select metrics for measuring success (SM:024) (MN)
Explain the role of managerial accounting techniques in business management (PD:171) (SP)