# CTE Resource Center - Verso - Principles of Business and Marketing National MBAResearch Standards-Business Administration Correlation by Task

CTE Resource Center - Verso

Virginia’s CTE Resource Center

National MBAResearch Standards-Business Administration Correlation by Task

In this course, the following tasks/competencies reinforce the standards listed beside them. Teachers may identify additional reinforcements in locally developed instructional materials.

Task/Competency Number Task/Competency Statement Standards
39 Identify the difference between needs and wants. National MBAResearch Standards-Business Administration: Acquire product knowledge to communicate product benefits and to ensure appropriateness of product for the customer. ♦ Understand marketing's role and function in business to facilitate economic exchanges with customers. ♦ Understand sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales.
40 Explain the three basic economic questions answered by any economy. National MBAResearch Standards-Business Administration: Analyze cost/profit relationships to guide business decision making. ♦ Determine global trade's impact on business decision making.
41 Distinguish among the factors of production. National MBAResearch Standards-Business Administration: Determine needed safety policies/procedures to protect employees. ♦ Understand fundamental economic concepts to obtain a foundation for employment in business.
42 Explain the relevance of scarcity to economics. National MBAResearch Standards-Business Administration: Determine needed safety policies/procedures to protect employees. ♦ Understand fundamental economic concepts to obtain a foundation for employment in business.
43 Describe a decision-making process. National MBAResearch Standards-Business Administration: Understand data-collection methods to evaluate their appropriateness for the research problem/issue. ♦ Utilize information-technology tools to manage and perform work responsibilities.
44 Identify characteristics of free enterprise. National MBAResearch Standards-Business Administration: Understand economic systems to be able to recognize the environments in which businesses function. ♦ Understand the nature of business to show its contributions to society.
45 Explain supply, law of supply, demand, law of demand, and economic equilibrium. National MBAResearch Standards-Business Administration: Determine global trade's impact on business decision making. ♦ Understand fundamental economic concepts to obtain a foundation for employment in business.
46 Describe the effect of supply and demand on a free enterprise system. National MBAResearch Standards-Business Administration: Determine global trade's impact on business decision making. ♦ Understand fundamental economic concepts to obtain a foundation for employment in business.
47 Compare economic systems. National MBAResearch Standards-Business Administration: Analyze cost/profit relationships to guide business decision making. ♦ Determine global trade's impact on business decision making. ♦ Understand economic systems to be able to recognize the environments in which businesses function.
48 Explain the positive and negative effects of emerging economies on the global market. National MBAResearch Standards-Business Administration: Determine global trade's impact on business decision making. ♦ Understand the nature of business to show its contributions to society.
49 Define the phases of the business cycle. National MBAResearch Standards-Business Administration: Understand the nature of business to show its contributions to society.
50 Identify the measures or indicators of economic activity. National MBAResearch Standards-Business Administration: Understand economic indicators to recognize economic trends and conditions.
51 Describe possible outcomes and other important aspects of world trade. National MBAResearch Standards-Business Administration: Determine global trade's impact on business decision making. ♦ Understand the nature of business to show its contributions to society.
52 Identify the four types of businesses. National MBAResearch Standards-Business Administration: Understand the nature of business to show its contributions to society.
53 Compare major types of business ownership. National MBAResearch Standards-Business Administration: Understand fundamental economic concepts to obtain a foundation for employment in business.
54 Identify the functions of management. National MBAResearch Standards-Business Administration: Acquire self-development skills to enhance relationships and improve efficiency in the work environment. ♦ 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. ♦ Exhibit techniques to manage emotional reactions to people and situations. ♦ Foster self-understanding to recognize the impact of personal feelings on others. ♦ Identify with others' feelings, needs, and concerns to enhance interpersonal relations. ♦ Implement organizational skills to facilitate others' work efforts. ♦ Manage internal and external business relationships to foster positive interactions. ♦ Manage staff growth and development to increase productivity and employee satisfaction. ♦ 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. ♦ Write internal and external business correspondence to convey and obtain information effectively.
55 Compare leadership styles. National MBAResearch Standards-Business Administration: Control an organization's/department's activities to encourage growth and development.
56 Explain the marketing concept. National MBAResearch Standards-Business Administration: 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 foundational knowledge of channel management to understand its role in marketing. ♦ Develop a foundational knowledge of pricing to understand its role in marketing. ♦ Understand marketing's role and function in business to facilitate economic exchanges with customers.
57 Describe the marketing functions. National MBAResearch Standards-Business Administration: 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 channel management to understand its role in marketing. ♦ Acquire foundational knowledge of marketing-information management to understand its nature and scope. ♦ Develop a foundational knowledge of pricing to understand its role in marketing.
58 Define target market. National MBAResearch Standards-Business Administration: Acquire product knowledge to communicate product benefits and to ensure appropriateness of product for the customer. ♦ Understand marketing's role and function in business to facilitate economic exchanges with customers. ♦ Understand the use of an advertisement's components to communicate with targeted audiences.
59 Explain market segmentation. National MBAResearch Standards-Business Administration: Acquire product knowledge to communicate product benefits and to ensure appropriateness of product for the customer. ♦ Understand marketing's role and function in business to facilitate economic exchanges with customers. ♦ Understand sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales.
60 Use market segmentation to identify a target market. National MBAResearch Standards-Business Administration: Acquire product knowledge to communicate product benefits and to ensure appropriateness of product for the customer. ♦ Understand marketing's role and function in business to facilitate economic exchanges with customers. ♦ Understand sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales.
61 Describe the elements of the marketing mix. National MBAResearch Standards-Business Administration: 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 foundational knowledge of channel management to understand its role in marketing. ♦ Develop a foundational knowledge of pricing to understand its role in marketing. ♦ Understand marketing's role and function in business to facilitate economic exchanges with customers.
62 Describe the steps of the selling process. National MBAResearch Standards-Business Administration: Acquire a foundational knowledge of selling to understand its nature and scope. ♦ Acquire product knowledge to communicate product benefits and to ensure appropriateness of product for the customer. ♦ Understand sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales.
67 Explain the influence of technology on employment, business operations, and global activities. National MBAResearch Standards-Business Administration: Maintain business records to facilitate business operations. ♦ Understand the nature of business to show its contributions to society.
68 Explain the effects of electronic commerce (ecommerce) on business and marketing. National MBAResearch Standards-Business Administration: Maintain business records to facilitate business operations.
69 Describe business and marketing communication tools and ways they are used in the workplace. National MBAResearch Standards-Business Administration: Maintain business records to facilitate business operations.
70 Demonstrate professional communication skills. National MBAResearch Standards-Business Administration: Communicate with staff to clarify workplace objectives. ♦ Read to acquire meaning from written material and to apply the information to a task. ♦ Write internal and external business correspondence to convey and obtain information effectively.
72 Explain the importance of teamwork in the workplace. National MBAResearch Standards-Business Administration: Exhibit techniques to manage emotional reactions to people and situations. ♦ Foster self-understanding to recognize the impact of personal feelings on others. ♦ Implement organizational skills to facilitate others' work efforts. ♦ Manage internal and external business relationships to foster positive interactions.
73 Identify rights and responsibilities of consumers. National MBAResearch Standards-Business Administration: Apply knowledge of business ownership to establish and continue business operations.
74 Describe how purchasing motives affect consumer choices. National MBAResearch Standards-Business Administration: Acquire a foundational knowledge of selling to understand its nature and scope. ♦ Acquire product knowledge to communicate product benefits and to ensure appropriateness of product for the customer. ♦ Understand sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales.
75 Determine the best value among products and services. National MBAResearch Standards-Business Administration: Acquire product knowledge to communicate product benefits and to ensure appropriateness of product for the customer. ♦ Understand sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales. ♦ Utilize information-technology tools to manage and perform work responsibilities.
76 Identify major consumer protection agencies and their purposes. National MBAResearch Standards-Business Administration: Acquire foundational knowledge of business laws and regulations to understand their nature and scope. ♦ Apply knowledge of business ownership to establish and continue business operations. ♦ Understand tax laws and regulations to adhere to government requirements.
77 Explain the process of resolving consumer complaints. National MBAResearch Standards-Business Administration: Acquire foundational knowledge of business laws and regulations to understand their nature and scope. ♦ Communicate with staff to clarify workplace objectives. ♦ Read to acquire meaning from written material and to apply the information to a task. ♦ 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.
78 Identify the characteristics of a valid contract. National MBAResearch Standards-Business Administration: Acquire foundational knowledge of business laws and regulations to understand their nature and scope. ♦ Understand tax laws and regulations to adhere to government requirements.
79 Explain the important concepts related to product labeling. National MBAResearch Standards-Business Administration: Acquire foundational knowledge of business laws and regulations to understand their nature and scope. ♦ Apply verbal skills to obtain and convey information. ♦ Understand tax laws and regulations to adhere to government requirements.
80 Identify the major types of business taxation. National MBAResearch Standards-Business Administration: Apply knowledge of business ownership to establish and continue business operations. ♦ Understand human-resource laws and regulations to facilitate business operations. ♦ Understand tax laws and regulations to adhere to government requirements.
81 Compute gross and net pay. National MBAResearch Standards-Business Administration: Acquire a foundational knowledge of finance to understand its nature and scope. ♦ Understand human-resource laws and regulations to facilitate business operations.
82 Compare savings and investment options. National MBAResearch Standards-Business Administration: Manage financial resources to ensure solvency. ♦ Manage personal finances to achieve financial goals. ♦ Understand the fundamental principles of money needed to make financial exchanges. ♦ Use investment strategies to ensure financial wellbeing.
83 Identify the purposes and major types of insurance to protect a business. National MBAResearch Standards-Business Administration: Adhere to health and safety regulations to support a safe work environment. ♦ Implement purchasing activities to obtain business supplies, equipment, and services. ♦ Understand production's role and function in business to recognize its need in an organization.
84 Identify basic banking services. National MBAResearch Standards-Business Administration: Analyze financial needs and goals to determine financial requirements. ♦ Implement financial skills to obtain business credit and to control its use. ♦ Manage financial resources to ensure solvency. ♦ Understand the use of financial-services providers to aid in financial-goal achievement.
85 Demonstrate maintenance of checking and saving accounts. National MBAResearch Standards-Business Administration: Analyze financial needs and goals to determine financial requirements. ♦ Implement financial skills to obtain business credit and to control its use. ♦ Manage financial resources to ensure solvency. ♦ Understand the fundamental principles of money needed to make financial exchanges.
86 Manage a budget. National MBAResearch Standards-Business Administration: Acquire a foundational knowledge of accounting to understand its nature and scope. ♦ Apply verbal skills to obtain and convey information. ♦ Implement accounting procedures to track money flow and to determine financial status. ♦ Manage financial resources to ensure solvency. ♦ Manage personal finances to achieve financial goals. ♦ Understand the use of financial-services providers to aid in financial-goal achievement. ♦ Use investment strategies to ensure financial wellbeing.
87 Define the elements of creditworthiness of a business. National MBAResearch Standards-Business Administration: Analyze financial needs and goals to determine financial requirements. ♦ Identify potential business threats and opportunities to protect a business's financial wellbeing. ♦ Implement financial skills to obtain business credit and to control its use. ♦ Understand the use of financial-services providers to aid in financial-goal achievement. ♦ Use investment strategies to ensure financial wellbeing.
88 Compare the types of loans available to businesses. National MBAResearch Standards-Business Administration: Identify potential business threats and opportunities to protect a business's financial wellbeing. ♦ Implement financial skills to obtain business credit and to control its use. ♦ Utilize information-technology tools to manage and perform work responsibilities.
89 Describe the various types of payment that a business may receive or use. National MBAResearch Standards-Business Administration: Identify potential business threats and opportunities to protect a business's financial wellbeing. ♦ Use investment strategies to ensure financial wellbeing.
90 Explain the importance of a business rating. National MBAResearch Standards-Business Administration: Acquire foundational knowledge of business laws and regulations to understand their nature and scope. ♦ Apply verbal skills to obtain and convey information. ♦ Utilize information-technology tools to manage and perform work responsibilities.
95 Assess personal interests, aptitudes, and abilities. National MBAResearch Standards-Business Administration: Exhibit techniques to manage emotional reactions to people and situations. ♦ Foster self-understanding to recognize the impact of personal feelings on others. ♦ Manage internal and external business relationships to foster positive interactions.
96 Research business and marketing career opportunities. National MBAResearch Standards-Business Administration: Implement job-seeking skills to obtain employment. ♦ Participate in career planning to enhance job-success potential. ♦ Utilize career-advancement activities to enhance professional development.
97 Identify sources of employment information. National MBAResearch Standards-Business Administration: Apply verbal skills to obtain and convey information. ♦ Implement job-seeking skills to obtain employment. ♦ Maintain business records to facilitate business operations. ♦ Participate in career planning to enhance job-success potential.
98 Develop or update a résumé. National MBAResearch Standards-Business Administration: Apply verbal skills to obtain and convey information. ♦ Implement job-seeking skills to obtain employment. ♦ Participate in career planning to enhance job-success potential. ♦ Read to acquire meaning from written material and to apply the information to a task.
99 Write a letter of application. National MBAResearch Standards-Business Administration: Apply verbal skills to obtain and convey information. ♦ Implement job-seeking skills to obtain employment. ♦ Participate in career planning to enhance job-success potential. ♦ Read to acquire meaning from written material and to apply the information to a task.
100 Complete an employment application form. National MBAResearch Standards-Business Administration: Apply verbal skills to obtain and convey information. ♦ Implement job-seeking skills to obtain employment. ♦ Participate in career planning to enhance job-success potential. ♦ Read to acquire meaning from written material and to apply the information to a task.
101 Identify the steps involved in a successful job interview. National MBAResearch Standards-Business Administration: Implement job-seeking skills to obtain employment. ♦ Participate in career planning to enhance job-success potential.
102 Participate in a mock job interview. National MBAResearch Standards-Business Administration: Apply active listening skills to demonstrate understanding of what is being said. ♦ Apply verbal skills to obtain and convey information. ♦ Communicate with staff to clarify workplace objectives. ♦ Implement job-seeking skills to obtain employment. ♦ Participate in career planning to enhance job-success potential.
103 Design an employment portfolio, including a résumé in a format suitable for online posting. National MBAResearch Standards-Business Administration: Implement job-seeking skills to obtain employment. ♦ Participate in career planning to enhance job-success potential. ♦ Read to acquire meaning from written material and to apply the information to a task.
104 Complete follow-up to an employment interview. National MBAResearch Standards-Business Administration: Implement job-seeking skills to obtain employment. ♦ Participate in career planning to enhance job-success potential. ♦ Read to acquire meaning from written material and to apply the information to a task.