DECA: Principles of Business Management and Administration Exam solution guide.

DECA: Principles of Business Management and Administration Exam solution guide. Discuss the nature of law and sources of law in the United States. Describe the United States' judicial system Describe legal issue ...

DECA: Principles of Business Management and Administration Exam solution guide. Discuss the nature of law and sources of law in the United States. Describe the United States' judicial system Describe legal issues affecting businesses (SP) Identify the basic torts relating to business enterprises (SP) Describe the nature of legally binding contracts (SP) - Describe the nature of legal procedure (SP) - Discuss the nature of debtor-creditor relationships (SP). Explain the nature of agency relationships (SP) Discuss the nature of environmental law (SP) Discuss the role of administrative law (SP) - Explain what it means to have sole proprietorship (CS) Explain what it means to have General Partnership (CS) Explain what it means to have Limited Partnership (CS) Explain what it means to have Limited Liability Partnership (LLP) (CS) Explain what it means to have Limited Liability Limited Partnership (LLLP) (CS) Explain what it means to have Corporation (CS) Explain what it means to have Limited Liability Company (LLC) (CS) Explain what it means to have Trust (CS) Explain what it means to have Joint Venture (CS) Identify sources that provide relevant, valid written material (PQ) Extract relevant information from written materials (PQ) Apply written directions to achieve tasks (PQ) Analyze company resources to ascertain policies and procedures (CS) Explain communication techniques that support and encourage a speaker (PQ) Follow oral directions (PQ) Demonstrate active listening skills (PQ) Explain the nature of effective verbal communications (PQ) Ask relevant questions (PQ) Interpret others' nonverbal cues (PQ) Provide legitimate responses to inquiries (PQ) Give verbal directions (PQ). Employ communication styles appropriate to target audience (CS) Defend ideas objectively (CS) Handle telephone calls in a businesslike manner (CS) Participate in group discussions (CS) Make oral presentations (SP) Utilize note-taking strategies (CS) Organize information (CS) Select and use appropriate graphic aids (CS) Explain the nature of effective written communications (CS) - Select and utilize appropriate formats for professional writing (CS) Fields: Date: Use month, day, year format, e.g., March 3, 2012 or 3 March 2012 2. Sender's Address: Inside Address: Use full name. Mr./Ms. is optional 3. Salutation: 4. Body Text: 5. Closing "Call to Action": 6. Signature Block: 7. Enclosures: 8. Carbon Copy: 9. Use a professional tone. Save casual, chatty language for email - your printed business letter should be friendly but more professional. overall tone that is confident, courteous, and sincere; 10. Write clearly. 11.Organize your information logically: 12.Use Color To Emphasize Words In Text 13. Be persuasive. 14. Proofread your letter! Edit and revise written work consistent with professional standards (CS) - Check for spelling errors and typos as well as check for professional language and tone. Write professional e-mails (CS) - An email to communicate from one professional to another. Write business letters (CS) - A business letter is usually a letter from one company to another, or between such organizations and their customers, clients and other external parties. Write informational messages (CS) - A message that provides information about the system and is not the result of an error condition. This message does not require a response. Write inquiries (CS) - Write persuasive messages (SP) Write executive summaries (SP) - Prepare simple written reports (SP) - Explain the nature of staff communication (CS) - Choose appropriate channel for workplace communication (CS) - Participate in a staff meeting (CS) - Explain the nature of positive customer relations (CS) - Demonstrate a customer-service mindset (CS) – Reinforce service orientation through communication (CS) - Respond to customer inquiries (CS) - Adapt communication to the cultural and social differences among clients (CS) - Interpret business policies to customers/clients (CS) - Handle difficult customers (CS) - levels Handle customer/client complaints (CS) - Identify company's brand promise (CS) -. Determine ways of reinforcing the company's image through employee performance (CS) - Explain the role of ethics in customer relationship management (SP) - Describe the use of technology in customer relationship management (SP) Discuss the nature of customer relationship management (SP) - Distinguish between economic goods and services (CS) - Explain the concept of economic resources (CS) - Describe the concepts of economics and economic activities (CS) - Determine economic utilities created by business activities (CS) Explain the principles of supply and demand (CS) - Describe the functions of prices in markets (CS) Explain the role of business in society (CS) Describe types of business activities (CS) Explain the organizational design of businesses (SP) - Unit Discuss the global environment in which businesses operate (SP) -. Describe factors that affect the business environment (SP) - Explain the nature of business ethics (SP) - Explain how organizations adapt to today's markets (SP) - Explain the types of economic systems (CS) - Explain the concept of private enterprise (CS) - Identify factors affecting a business's profit (CS) - - Determine factors affecting business risk (CS) - Explain the concept of competition (CS) - Determine the relationship between government and business (CS) - Describe the nature of taxes (SP) - Explain the concept of productivity (CS) - Analyze impact of specialization/division of labor on productivity (SP) - Explain the concept of organized labor and business (SP) - Explain the impact of the law of diminishing returns (SP) - Discuss the measure of consumer spending as an economic indicator (SP) - Explain the concept of Gross Domestic Product (GDP) (SP) - Discuss the impact of a nation's unemployment rates (SP) - Describe the economic impact of inflation on business (SP) - Explain the economic impact of interest-rate fluctuations (SP) - Determine the impact of business cycles on business activities (SP) - Explain the nature of global trade (SP) - Describe the determinants of exchange rates and their effects on the domestic economy (SP) - Discuss the impact of cultural and social environments on global trade (SP) - Describe the nature of emotional intelligence (PQ) - Explain the concept of self esteem (PQ) - Recognize personal biases and stereotypes (PQ) - Identify desirable personality traits important to business (PQ) - Exhibit self-confidence (PQ) - Demonstrate interest and enthusiasm (PQ) - Demonstrate initiative (PQ) - Demonstrate honesty and integrity (PQ) - Demonstrate ethical work habits (PQ) - Exhibit a positive attitude (PQ) - Demonstrate self control (PQ) - Explain the use of feedback for personal growth (PQ) - Respect the privacy of others (PQ) - Show empathy for others (PQ) - Exhibit cultural sensitivity (CS) - Explain ethical considerations in providing information (SP) - Persuade others (SP) - Demonstrate negotiation skills (SP) - Use appropriate assertiveness (PQ) - Use conflict-resolution skills (CS) - Explain the nature of stress management (SP) Participate as a team member (CS) - Use consensus-building skills (SP) - Motivate team members (SP) - Explain the concept of leadership (CS) - Determine personal vision (CS) - Demonstrate adaptability (CS) - Develop an achievement orientation (CS) - Lead change (CS) - Enlist others in working toward a shared vision (CS) - Coach others (CS) - Treat others fairly at work (PQ) - Foster positive working relationships (CS) - Maintain collaborative partnerships with colleagues (SP) - Explain the impact of political relationships within an organization (SP) - Explain forms of financial exchange (cash, credit, debit, electronic funds transfer, etc.) (PQ) - Identify types of currency (paper money, coins, banknotes, government bonds, treasury notes, etc.) - Describe sources of income (wages/salaries, interest, rent, dividends, transfer payments, etc.) (PQ) - Explain the time value of money (CS) - Explain the purposes and importance of credit (CS) - Explain legal responsibilities associated with financial exchanges (CS) - Explain the nature of financial needs (e.g., college, retirement, wills, insurance, etc.) (CS) - Set financial goals (CS) - Develop personal budget (CS) - Explain the nature of tax liabilities (PQ) - Interpret a pay stub (PQ) - Prepare bank account documents (e.g., checks, deposit/withdrawal slips, endorsements, etc.) (PQ) - Read and reconcile bank statements (PQ) - Demonstrate the wise use of credit (CS) - Validate credit history (CS) - Protect against identity theft (CS) - Describe types of financial-services providers (CS) - Explain types of investments (CS) - Describe the concept of insurance (CS) - Explain the nature of risk management (SP) - Explain the concept of accounting (CS) - Explain the need for accounting standards (GAAP) (CS) - Discuss the role of ethics in accounting (SP) - Explain the use of technology in accounting (SP) - Explain legal considerations for accounting (SP) - Describe the nature of cash flow statements (SP) - Explain the nature of balance sheets (SP) - Describe the nature of income statements (SP) - Explain the role of finance in business (CS) - Discuss the role of ethics in finance (SP) - Explain legal considerations for finance (SP) - Describe the nature of budgets (SP) - Discuss the nature of human resources management (CS) - Explain the role of ethics in human resources management (SP) - Describe the use of technology in human resources management (SP) - Orient new employees (CS) - Assess information needs (CS) - Evaluate quality and source of information (CS) - Store information for future use (CS) - Discuss the nature of information management (CS) - Explain legal issues associated with information management (SP) - Identify ways that technology impacts business (PQ) - Explain the role of information systems (PQ) - Describe the scope of the Internet (PQ) - Demonstrate basic e-mail functions (PQ) - - Demonstrate basic word processing skills (PQ) - Demonstrate basic presentation applications (PQ) - Demonstrate basic database applications (PQ) - Demonstrate basic spreadsheet applications (PQ) - Use an integrated business software application package (CS) - Demonstrate collaborative/groupware applications (CS) - Create and post basic web page (SP) - Describe current business trends (SP) - Monitor internal records for business information (SP) - Conduct an environmental scan to obtain business information (SP) Interpret statistical findings (SP) - Explain marketing and its importance in a global economy (CS) - Describe marketing functions and related activities (CS) - Explain customer/client/business buying behavior (SP) - Discuss actions employees can take to achieve the company's desired results (SP) - Demonstrate connections between company actions and results (e.g., influencing consumer buying behavior, gaining market share, etc.) (SP) - Explain the nature of operations (CS) - Describe the use of technology in operations (SP) - Describe health and safety regulations in business (PQ) - Report noncompliance with business health and safety regulations (PQ) - Maintain a safe work environment (CS) - Handle and report emergency situations (CS) - Explain routine security precautions (CS) - Protect company information and intangibles (CS) - Explain the nature of project management (SP) - Identify resources needed for project (SP) - Develop project plan (SP) - Apply project-management tools to monitor project progress (SP) - Evaluate project results (SP) - Explain the nature and scope of purchasing (CS) - Maintain inventory of supplies (CS) - Manage the bid process in purchasing (SP) - Select vendors (SP) - Evaluate vendor performance (SP) - Explain the concept of production (CS) - Identify quality-control measures (SP) - Utilize quality control methods at work (SP) - Describe crucial elements of a quality culture (SP) - Explain the nature of overhead/operating costs (SP) - Explain employee's role in expense control (SP) Identify routine activities for maintaining business facilities and equipment (SP) Maintain appropriate personal appearance (PQ) Demonstrate systematic behavior (PQ) Set personal goals (CS) Explain the need for innovation skills (CS) Make decisions (CS) Demonstrate problem-solving skills (CS) Demonstrate appropriate creativity (SP) Assess personal interests and skills needed for success in business (PQ) - Analyze employer expectations in the business environment (PQ) - Explain the rights of workers (PQ) - Identify sources of career information (CS) - Explain career opportunities in entrepreneurship (CS) - Complete a job application (PQ) - Write a letter of application (CS) Use networking techniques to identify employment opportunities (SP) Describe techniques for obtaining work experience (e.g., volunteer activities, internships) (PQ) - Explain the need for ongoing education as a worker (PQ) Explain possible advancement patterns for jobs (PQ) Identify skills needed to enhance career progression (SP) Utilize resources that can contribute to professional development (e.g., trade journals/periodicals, professional/trade associations, classes/seminars, trade shows, and mentors) (SP) Explain the concept of management (CS)