Business Technology Standards and Skills

Skills:

1. Evaluate the evolution of business technology from manual processes to modern-day digital solutions, and explain how these technological advances have shaped industries, businesses, and societies over time.
2. Investigate how business technology professionals contribute to business operations, decision-making, and innovation, and assess their impact on organizational productivity, efficiency, and competitiveness.
3. Assess the impact of emerging technologies, e.g., AI, cloud computing, data analytics, on business processes, ethical considerations, and societal change, and explain how business technology professionals must adapt to these shifts.
4. Identify and explain relevant legal and regulatory standards, e.g., GDPR, data protection laws, intellectual property rights, and their implications for business technology professionals, emphasizing ethical, legal, and security responsibilities.

Skills:

1. Evaluate the role of businesses in economic systems, analyzing how businesses create value through the production and delivery of goods and services.
2. Examine the contributions of various types of businesses, e.g., product-based, service-oriented, non-profit, in meeting societal needs.
3. Distinguish between economic wants and needs and explain how businesses identify and prioritize these to meet consumer demand and guide product/service offerings.
4. Assess how the goals of businesses align with economic factors, such as supply and demand, market competition, and resource allocation.
5. Explain the concept of supply and demand and analyze how changes in supply and demand affect pricing, availability, and consumer behavior in the marketplace.
6. Compare and contrast the characteristics of different business organizations (sole proprietorship, partnerships, corporations, cooperatives), evaluating the advantages and disadvantages of each structure.
7. Analyze how the legal, financial, and operational aspects of each business structure impact decision-making and long-term sustainability.
8. Determine the most appropriate business structure for specific business goals, considering factors such as ownership, liability, and financial requirements.
9. Explain the interconnectedness and integration of core business functions (marketing, management, finance, operations, human resources), and how they work together to achieve strategic objectives and maintain operational efficiency.
10. Understand basic financial concepts, such as revenue, costs, and profitability.
11. Examine the use of Excel to create a basic revenue model by inputting variables like unit price and units sold, and calculating total revenue using simple multiplication.
12. Evaluate how digital tools, such as project management software, customer relationship management (CRM) tools, and financial analysis platforms, enhance decision-making and efficiency.
13. Analyze the role of businesses in addressing social, environmental, and ethical issues through corporate social responsibility (CSR) initiatives, considering legal and ethical frameworks.
14. Explain the legal frameworks that guide business operations, including laws related to business, consumer protection, intellectual property, and employment.

Skills:

1. Analyze market trends and consumer behavior data to identify customer needs and create value propositions.
2. Examine the role of market research in strategic business planning and how it influences product development and marketing strategies.
3. Utilize digital tools e.g., data analytics, CRM systems, social media platforms, to analyze consumer data and predict market trends.
4. Develop ethical marketing campaigns that prioritize transparency, fairness, and responsibility, avoiding deceptive practices.
5. Develop a basic marketing strategy for a product or service, applying the 4P’s (Product, Price, Place, Promotion) and defining the brand’s identity, target audience, and promotional message.
6. Utilize marketing software and design tools, e.g., Adobe Creative Suite, Canva, Google Analytics, social media scheduling tools, to create engaging content, manage campaigns, and analyze performance data.
7. Examine the role of digital marketing strategies, such as SEO, content marketing, and influencer marketing, in building brand awareness and driving sales.
8. Evaluate the effectiveness of various advertising methods, e.g., digital, print, social media, in promoting brand awareness and consumer engagement.
9. Design a brand promotion strategy, justifying the choice of advertising channels and messaging for a specific market segment.
10. Compare and contrast global and local marketing strategies, identifying the key differences in consumer behavior, cultural influences, and market conditions.
11. Demonstrate essential customer service skills, such as active listening, problem resolution, and maintaining professionalism in challenging situations.
12. Assess the impact of high-quality customer service on brand reputation, customer loyalty, and long-term consumer engagement.
13. Assess the importance of customer experience (CX) in building long-term loyalty and how businesses use customer feedback to improve products and services.
14. Develop and implement key performance indicators (KPIs) to assess the effectiveness of marketing campaigns.

Skills:

1. Define business management and explain basic management theories, such as Maslow’s Hierarchy of Needs, Scientific Management, and Human Relations Theory, using examples of how businesses apply these ideas today to motivate employees and improve efficiency.
2. Explain how Maslow’s Hierarchy of Needs influenced the shift from traditional management theories (like Scientific Management) to modern ones that focus more on employee motivation and well-being.
3. Explain the functions of management, e.g., planning, organizing, leading, and controlling, and how they contribute to effective business operations.
4. Identify and explain different leadership styles, e.g., transformational, transactional, servant leadership, and how they impact business operations and employee motivation.
5. Analyze the role of management in business success by evaluating real-world case studies of organizations that have succeeded, identifying successful components of their management practices.
6. Explain the concept of change management and how companies like Netflix and Amazon successfully manage change using leadership, communication strategies, and technology to stay competitive in evolving markets.
7. Compare how specific leadership styles, such as transformational leadership at Apple, contrast with transactional leadership at Amazon, assessing their impact on organizational culture, employee motivation, and business outcomes.
8. Introduce and explain key decision-making models, such as SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) and cost-benefit analysis, and explain how and when to use them to make business decisions or solve problems.
9. Analyze how tools like Google Analytics are used by businesses to collect, interpret, and apply data to improve decision-making, customer engagement, and marketing strategies, enabling businesses to make data-driven decisions for operational improvements and strategic planning.

1. Demonstrate proficiency in Microsoft Office tools (Excel, Word, PowerPoint, and Outlook), understanding their features, functions, and applications in business settings.
2. Explain how each tool supports specific business functions, e.g., Excel for data analysis, PowerPoint for marketing, Teams for project management, in terms of improving efficiency and decision-making.
3. Create and manage spreadsheets in Excel, including using formulas, pivot tables, and data visualization tools to analyze financial data, track performance, and support business decision-making.
4. Generate professional documents in Word, e.g., reports, proposals, memos, apply formatting tools, templates, and styles to create well-organized and business-ready materials.
5. Develop and deliver presentations using PowerPoint, incorporating text, visuals, charts, and multimedia to effectively communicate business ideas and strategic plans.
6. Use Microsoft Outlook for business communication, including email management, calendar scheduling, task tracking, and collaborating through shared resources.
7. Apply data modeling techniques in Excel, such as linear regression and simple forecasting tools, to analyze business trends, predict future financial outcomes, and support decision-making processes in business settings.
8. Demonstrate the ability to apply Excel functions like SUMIF, VLOOKUP, and data validation in practical business scenarios to analyze data.
9. Design and implement simple databases in Microsoft Access, such as customer relationship management (CRM) databases or inventory tracking systems, to manage and organize business operations.
10. Apply relational database principles to link tables and generate useful reports that inform business decisions, e.g., customer insights or inventory restocking.
11. Utilize collaboration tools in Microsoft Teams to enhance business communication, streamline project management, and facilitate team collaboration in a virtual environment.
12. Create and manage a collaborative project in Microsoft Teams, assigning tasks, setting deadlines, and tracking progress using built-in tools, e.g., Planner or To-Do.
13. Demonstrate the use of cloud-based business tools, e.g., OneDrive, SharePoint, for file sharing, document collaboration, and version control to enhance organizational efficiency.
14. Use OneDrive to store, share, and collaborate on documents in real time with team members, maintaining version control.
15. Implement cybersecurity best practices in business technology applications, including creating secure passwords, understanding data protection protocols, and recognizing potential security risks.
16. Identify common cybersecurity threats, e.g., phishing, malware, and demonstrate steps to mitigate risks in digital business tools.
17. Apply data protection protocols in cloud-based tools, e.g., OneDrive, SharePoint, by setting permissions and ensuring secure document sharing practices.
18. Apply knowledge of e-commerce platforms and digital tools to support online sales, including website design, digital payment systems, and customer engagement through CRM tools.
19. Create a comprehensive business report or presentation by integrating data from multiple Microsoft Office applications (Excel, Word, PowerPoint) to provide actionable business insights, recommendations, and strategies.

Skills:

1. Identify and explain the role of financial institutions, e.g., banks, investment firms, insurance companies. and the services they provide for businesses.
2. Differentiate between types of financial accounts, e.g., business checking, savings, credit accounts, and explain the process of acquiring, managing, and extending credit, including business credit ratings.
3. Describe strategies businesses use to assess and manage financial risk, including debt management and insurance to ensure financial stability.
4. Analyze how businesses evaluate debt vs. equity financing and assess the risks and benefits of each in relation to business growth and stability.
5. Explain how businesses manage short-term assets and liabilities, e.g., inventory, accounts receivable/payable, to ensure liquidity.
6. Define the purpose of a budget as a tool for planning and controlling organizational finances and demonstrate the ability to create and manage different types of budgets, e.g., operational, capital, cash flow, to support strategic decision-making, forecasting, and tactical planning.
7. Create and manage department-specific business budgets using spreadsheet software, focusing on optimizing financial resources and aligning with organizational goals.
8. Analyze and interpret financial reports, e.g., balance sheet, income statement, cash flow statement, using key financial ratios (liquidity, profitability, solvency) and trends to assess business performance, inform decision-making, and guide budgeting and forecasting processes.
9. Leverage digital tools for business forecasting to predict financial outcomes based on historical data, trends, and market research.
10. Analyze financial performance measures, e.g., cost-benefit analysis, marginal analysis, ROI, to evaluate decision-making effectiveness and business outcomes.
11. Perform a cost-benefit analysis of a given business to evaluate the financial viability of a business decision using Google Sheets or Excel to input potential costs, e.g., production costs, labor, materials, and benefits, e.g., projected revenue, customer retention, and calculate the net benefit.
12. Evaluate credit terms, liabilities, and payment schedules to optimize financial health and operations.
13. Identify and explain financial strategies for business expansion, focusing on the implications of scaling operations and diversifying investments.
14. Describe how the stock market works and its role in helping businesses raise capital.
15. Examine methods of raising capital through debt (loans, bonds) and equity financing (stocks, venture capital).
16. Analyze the importance of financial accuracy and transparency in maintaining ethical business practices and preventing fraud.
17. Explain the regulatory requirements that govern business finances, e.g., tax regulations, financial reporting standards.
18. Understand the different types of taxes businesses face, e.g., payroll, income, business taxes, and explain their financial implications on overall business operations, financial planning, and decision-making.
19. Analyze international finance issues, including currency exchange and foreign investments, and evaluate their effect on global business operations.

Skills:

1. Define and explain basic accounting terms, e.g., assets, liabilities, equity, revenues, expenses.
2. Identify and explain the purpose of financial statements, the balance sheet, income statement, and cash flow statement, and how they interconnect.
3. Apply basic accounting principles (debits and credits) and use spreadsheet software, e.g., Google Sheets or Excel) to record business transactions and prepare financial statements, leveraging templates for balance sheets and income statements.
4. Explain the role of accounting in managing business resources, tracking performance, ensuring legal compliance, and supporting decision-making.
5. Perform account maintenance for charts of accounts, vendors, and customers as part of the accounting cycle, using automated accounting systems, e.g., QuickBooks, to complete the process.
6. Describe methods for creating purchase orders and processing payments to vendors.
7. Identify and explain ways to create invoices and post payments from customers.
8. Demonstrate how to create customer statements and manage accounts receivable and payable.
9. Demonstrate an understanding of payroll concepts and applications, including distinguishing between gross and net pay.
10. Identify and explain the various types of payroll withholdings, including federal, state, and other applicable deductions.
11. Explain and prepare employment forms for payroll withholding, e.g., W-4, I-9.
12. Distinguish between various types of tax liabilities, e.g., payroll taxes, income taxes, business taxes, and analyze how they are calculated, recorded, and reported in financial statements, as well as their impact on employee compensation and business compliance.
13. Use accounting data to create business budgets and financial forecasts and analyze projections for operational decisions.
14. Explain how to calculate and record depreciation and amortization for business assets, including how to input these figures into Excel or QuickBooks for financial reporting.
15. Explain the role of internal controls in accounting, how to set up checks and balances in accounting systems and identify common fraud prevention practices.

Skills:

1. Analyze operation workflows to identify inefficiencies and recommend improvements using process mapping or Lean principles.
2. Evaluate supply chain management strategies to determine their impact on cost, efficiency, and customer satisfaction.
3. Apply inventory management techniques to track stock levels and optimize order processes using real-world scenarios.
4. Develop a production or service delivery plan that ensures quality, efficiency, and cost-effectiveness.
5. Interpret financial and operational data to assess business performance and make strategic recommendations.
6. Implement quality control methods to maintain consistency and improve business processes.
7. Identify and assess operational risks within a business context, e.g., supply chain disruptions, equipment failures, labor shortages, proposing specific risk mitigation strategies to reduce disruptions and maintain operational efficiency.
8. Use data and strategic planning to make decisions and solve real-world business challenges, such as improving inventory management or optimizing employee scheduling.
9. Present an operations improvement proposal that integrates process efficiency, cost management, and resource optimization to drive business performance.

Skills:

1. Define workforce planning and explain its importance in ensuring that the business has the right number of employees with the right skills to meet its goals.
2. Describe the process of talent acquisition, including identifying workforce needs, developing job descriptions, and sourcing candidates to align with the company’s strategic objectives.
3. Examine the recruitment process, covering methods of attracting applicants, e.g., job postings, social media, recruitment agencies, evaluating candidates, and managing an applicant pool.
4. Analyze the hiring process, including how to conduct interviews, assess cultural fit, and make final hiring decisions based on skills, experience, and business needs.
5. Apply strategies to improve talent acquisition by using recruitment tools, such as applicant tracking systems (ATS), and social media platforms to find top talent.
6. Identify the legal and ethical considerations in recruitment and hiring, including non-discriminatory practices, equal employment opportunities, and compliance with labor laws.
7. Evaluate employee onboarding programs, understanding how successful onboarding helps integrate new hires into the company culture and improve long-term retention.
8. Assess workforce diversity and inclusion strategies that contribute to building a more innovative and collaborative workplace.
9. Evaluate the role of employee training and development in enhancing skills and ensuring that employees meet organizational goals and adapt to changes in the workplace.
10. Examine the use of Human Resource Management Systems (HRMS) to track employee data, manage compliance with labor laws, monitor training and development, and ensure adherence to company policies and ethical standards in business operations.
11. Examine employment laws that influence HR practices, including anti-discrimination laws, family and medical leave, equal pay, and the rights of employees in various sectors.

Skills:

1. Define the key concepts in project management, including project scope, goals, timelines, stakeholders, and resource allocation.
2. Examine the phases of the project lifecycle (initiation, planning, execution, monitoring and controlling, closing).
3. Apply the steps of the project lifecycle to a given business case study, identifying how the lifecycle helps to guide projects from start to finish.
4. Use digital project management tools like Trello, Microsoft Project, or Asana to plan a project, create timelines, and assign tasks.
5. Demonstrate how to use Gantt charts or Kanban boards to visualize project tasks, milestones, and deadlines.
6. Develop a project timeline, define deliverables, and set deadlines for project completion.
7. Utilize project management techniques like risk management, critical path method (CPM), and resource leveling to ensure successful project execution.
8. Perform a risk analysis and develop a risk management plan for a given project scenario.
9. Practice team collaboration and communication to ensure project stakeholders are aligned throughout the project lifecycle.
10. Assess emerging business technologies, such as AI, automation, and machine learning, and evaluate their impact on innovation.
11. Analyze the use of big data and cloud computing to improve business processes and customer experience.
12. Examine how AI tools, like chatbots or predictive analytics, can streamline business processes.
13. Identify opportunities for automation in a given business scenario, e.g., automating customer service processes, inventory management, or data analysis.
14. Examine the use of Robotic Process Automation (RPA) tools, like UiPath or Automation Anywhere, to automate business processes.
15. Demonstrate the ability to think creatively and implement innovative solutions to common business challenges.
16. Assess business models like design thinking and Lean startup to create and evaluate innovative ideas.
17. Use tools like Business Model Canvas or SWOT analysis to evaluate business ideas and identify opportunities for innovation and growth.