Explain the nature of effective written communications. We have done the work for you! Buying and Merchandising ICDC PIs. Explain the concept of private enterprise. Leaders should initiate positive feedback through methods such as assessing the current scenario, finding areas for improvement, brainstorming solutions, and implementing a course of action. It is usually presented in order of importance, so that the reader can clearly understand. (PQ). (CS), Functions of HRM: Determining need, determining job descriptions, recruiting, and screening and selecting applicants. Learn. Prepare bank account documents (e.g., checks, deposit/withdrawal slips, endorsements, etc.) Currencies with High Effect on Global Markets: U.S. Dollar EU Euro Chinese Yuan British Pound, Describe functions of money (medium of exchange, unit of measure, store of value) (PQ), Medium of Exchange – facilitate transactions Store of Value – changes as economy fluctuates Unit of Measure – common value of good/service, Describe sources of income (wages/salaries, interest, rent, dividends, transfer payments, etc.) deca state; deca business finance; business management and administration cluster test vocabulary; deca study cards; deca terms; performance indicators; deca study guide (2016-17 maxey) deca … Problem-solving groups allow each employee to be heard and ensure that their rights are protected. The price of a good or service is how much it costs per unit or time period. Form Utility – configuration of product; Changing raw materials or putting parts together to make them more useful Place Utility – physical location; Having a product where customers can buy it. Integrated business software application packages (such as Google Apps for Business) include word processing, presentation, and spreadsheet applications. Make sure your response is accurate and clear. This list was compiled by MBAResearch and Curriculum Center and DECA Inc. and represents eforts to support all DECA competitive events Discuss the nature of human resources management. into one industry, Explain the nature of financial needs. Presentation applications (such as Google Slides) can be used to organize information in a visually appealing format that can then be presented to an audience. This list was compiled by MBAResearch and Curriculum Center and DECA Inc. and represents eforts to support all DECA competitive events Employees should refrain from using derogatory, racist, and sexist vocabulary. PERFORMANCE INDICATORS BUSINESS ADMINISTRATION CORE THE BUSINESS ADMINISTRATION CORE PERFORMANCE INDICATORS ARE USED IN THE FOLLOWING EVENTS: PRINCIPLES OF BUSINESS MANAGEMENT AND ADMINISTRATION PBM PRINCIPLES OF FINANCE PFN PRINCIPLES OF HOSPITALITY AND TOURISM PHT PRINCIPLES OF MARKETING PMK Performance indicators … �cV�����P��)����b�~k��1����R�O��k��c�h�����/۳2��a��p��v���V��á��G��LH��Dr�̾���(����A�/H��h�h�]�k�k�$�H��u���0��� Distinguish between economic goods and services. We use cookies to give you the best experience possible. (CS), Sole Proprietorship – owned/run by one individual who receives all profits and is responsible for loss/debt; limited capital, unlimited liability Partnership – partners agree to cooperate in working toward mutual interests; combined capital, unlimited financial ability Corporation – sells shares in stock market, company is owned by multiple shareholders, allows for limited liability, greater financial power by issuing stock Monopoly – one supplier, no substitute goods or services readily available Private LLC – limited liability, no shares of stock Nonprofit – uses revenue to achieve social goals Franchise – chain of suppliers providing goods/services Cooperative/Joint Venture – run/managed by employees, Identify sources that provide relevant, valid written material. Horizontal – same hierarchical level Diagonal – subordinate manager (diff. (CS). (CS). Rules of conduct direct appropriate, professional behavior and should be meticulously read and properly understood/followed. Appropriate channels for communication in the workplace include email and in-person communication. Reputation and online reviews should be consulted when choosing a provider. Mutual Funds – multiple investors pool in money Real Estate – property ownership Stocks – shares of corporations (part ownership) Municipal Bonds – government notes sold for different value Corporate Bonds – company borrows money, Insurance is the practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium, Describe the need for financial information. Marketing is the concept of promoting a product to an audience with the goal of selling it to consumers. Critical feedback can be used for insight on personal strengths and weaknesses and how these attributes can be perfected to improve work ethic. Follow established security procedures/policies. (PQ). Technology can be used to market and sell products as well as improve a company’s brand. Inquiries should contain relevant questions about a certain good, service, or policy. Employers expect employees to be competent in accomplishing their assigned tasks. Describe health and safety regulations in business. Explain the concept of productivity. (PQ), Bias – tendency/perspective to a certain thing Stereotype – broad generalization about something, Assess personal strengths and weaknesses. Describe the impact of a person’s social media brand on the achievement of organizational objectives. DECA uses seven lists of performance indicators – business administration core, business management and administration, entrepreneurship, finance, hospitality and tourism, marketing and personal financial literacy. (CS). The Business Administration Core has twelve instructional areas with performance indicators. CIS Chapter 9 Exam 3 review Q's. Your advisor uses the performance indicators as teaching tools in the classroom, teaching both general and specific marketing skills throughout the school year. A descriptive test key, including question sources and answer rationale, has been provided the state DECA advisor. Collaborative applications (such as Google Drive) allow multiple employees to work together on business electronic deliverables. This list was compiled by MBAResearch and Curriculum Center and DECA Inc. and represents efforts to support all DECA competitive events (PQ). (PQ). DECA’s performance indicators are broken down by career cluster. Principles of Hospitality and Tourism Event 4. (PQ). (CS). Creating budgets, allocating funds throughout the company, determining investments, protecting assets, managing credit and preparing financial reports are other necessary financial activities; balance sheet (assets vs. liabilities) and income statement determine profit vs. loss, Explain the types of economic systems. Explain the nature of tax liabilities. (CS). Spell. Tend to be leaders, set high standards, constantly learning, positive attitude, always performing the correct things while not being supervised.