Business Management Course Description

COURSE DESCRIPTION

This Business Management course seeks to develop sound management concepts within students, as management plays a role in any future employment opportunity. Students are able to analyze, synthesize, and evaluate data from the other functional areas of business (e.g., marketing, finance, and production). Effective management requires decision-making abilities, long-range planning knowledge, human relations expertise, and motivational skills. Students learn the four basic functions of management.

CORE STANDARDS, OBJECTIVES, AND INDICATORS

STANDARD 1

Students will identify and describe the planning function of management.

Objective 1: Explain what planning is and the importance of planning.

Objective 2: Explain the business decision-making process.

Objective 3: Distinguish between strategic (long-term) and operational (short-term) plans.

Objective 4: Identify planning tools used in project planning (budgets, schedules, policies, etc.).

STANDARD 2

Students will identify and describe the organizing function of management.

Objective 1: Identify and provide examples of basic ownership forms: sole proprietorship, partnership, corporations, franchises, cooperatives, S-corporations and evaluate the advantages and disadvantages of each form of ownership.

Objective 2: Evaluate the advantages and disadvantages of each form of ownership.

Objective 3: Identify types of organization structure: line, line and staff, matrix, team, committee, and grapevine (optional); centralized vs. decentralized; understand organization charts.

STANDARD 3

Students will identify and describe the directing (leadership) function of management.

Objective 1: Identify leaders and effective leadership qualities.

Objective 2: Compare and contrast leadership styles: autocratic, democratic, laissez-faire.

Objective 3: Describe techniques managers use to motivate individual employees (e.g., goal setting, management, cross-training, empowerment, and self-direction).

Objective 4: Understand professionalism and why participation in professional associations is important.

Business Management Page 2 of 4

Revised: February 2008

STANDARD 4

Students will identify and describe the controlling and evaluating functions of management.

Objective 1: Describe the importance of business mission statement, vision statements, goals (long-term) and objectives (short-term).

Objective 2: Understand need to measure performance against established expectations (e.g. Performance gaps).

Objective 3: Evaluate and determine alternative actions when goals are not being met in a specific situation (e.g., changing goals, changing strategies).

STANDARD 5

Students will analyze and understand the importance of financial information.

Objective 1: Know basic financial terms (e.g. assets, liabilities, owner's equity, revenue, expenses).

Objective 2: Understand the purpose of various financial statements.(e.g. Income Statement & Balance Sheet).

Objective 3: Analyze and interpret the data that appears on financial statements, for managerial decisions making.

Objective 4: Identify sources for securing financing to start and operate a business (e.g. personal savings, bank financing, SBA loans, and venture capital).

STANDARD 6

Students will understand basic economics concepts.

Objective 1: Understand economic terms (e.g. recession, depression,