# CTE Resource Center - Verso - Principles of Business and Marketing Related National MBAResearch Standards-Business Administration

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Related National MBAResearch Standards-Business Administration

National MBAResearch Standards-Business Administration

For a complete list of performance indicators for each of the performance elements with the Business Administration and Marketing Core Standards, go to http://www.mbaresearch.org/2.0/Joomla/images/PDFs/FinalMarketingClusterReport11-19-2007.pdf (pages 9-38).

Acquire a foundational knowledge of accounting to understand its nature and scope.

 

Acquire a foundational knowledge of finance to understand its nature and scope.

 

Acquire a foundational knowledge of product/service management to understand its nature and scope.

 

Acquire a foundational knowledge of promotion to understand its nature and scope.

 

Acquire a foundational knowledge of selling to understand its nature and scope.

 

Acquire foundational knowledge of business laws and regulations to understand their nature and scope.

 

Acquire foundational knowledge of channel management to understand its role in marketing.

 

Acquire foundational knowledge of marketing-information management to understand its nature and scope.

 

Acquire product knowledge to communicate product benefits and to ensure appropriateness of product for the customer.

 

Acquire self-development skills to enhance relationships and improve efficiency in the work environment.

 

Adhere to health and safety regulations to support a safe work environment.

 

Analyze cost/profit relationships to guide business decision making.

 

Analyze financial needs and goals to determine financial requirements.

 

Apply active listening skills to demonstrate understanding of what is being said.

 

Apply knowledge of business ownership to establish and continue business operations.

 

Apply verbal skills to obtain and convey information.

 

Communicate with staff to clarify workplace objectives.

 

Control an organization's/department's activities to encourage growth and development.

 

Determine global trade's impact on business decision making.

 

Determine needed safety policies/procedures to protect employees.

 

Develop a foundational knowledge of pricing to understand its role in marketing.

 

Exhibit techniques to manage emotional reactions to people and situations.

 

Foster self-understanding to recognize the impact of personal feelings on others.

 

Identify potential business threats and opportunities to protect a business's financial wellbeing.

 

Identify with others' feelings, needs, and concerns to enhance interpersonal relations.

 

Implement accounting procedures to track money flow and to determine financial status.

 

Implement financial skills to obtain business credit and to control its use.

 

Implement job-seeking skills to obtain employment.

 

Implement organizational skills to facilitate others' work efforts.

 

Implement purchasing activities to obtain business supplies, equipment, and services.

 

Maintain business records to facilitate business operations.

 

Manage financial resources to ensure solvency.

 

Manage internal and external business relationships to foster positive interactions.

 

Manage personal finances to achieve financial goals.

 

Manage staff growth and development to increase productivity and employee satisfaction.

 

Participate in career planning to enhance job-success potential.

 

Read to acquire meaning from written material and to apply the information to a task.

 

Recognize management's role to understand its contribution to business success.

 

Understand data-collection methods to evaluate their appropriateness for the research problem/issue.

 

Understand economic indicators to recognize economic trends and conditions.

 

Understand economic systems to be able to recognize the environments in which businesses function.

 

Understand fundamental economic concepts to obtain a foundation for employment in business.

 

Understand human-resource laws and regulations to facilitate business operations.

 

Understand marketing's role and function in business to facilitate economic exchanges with customers.

 

Understand production's role and function in business to recognize its need in an organization.

 

Understand sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales.

 

Understand tax laws and regulations to adhere to government requirements.

 

Understand the fundamental principles of money needed to make financial exchanges.

 

Understand the nature of business to show its contributions to society.

 

Understand the use of an advertisement's components to communicate with targeted audiences.

 

Understand the use of financial-services providers to aid in financial-goal achievement.

 

Use investment strategies to ensure financial wellbeing.

 

Utilize career-advancement activities to enhance professional development.

 

Utilize information-technology tools to manage and perform work responsibilities.

 

Write internal and external business correspondence to convey and obtain information effectively.