Business Essentials (2022)

Other Mississippi CTE sets

• Cyber Foundations 1 (2020)
• Information and Communication Technology I (2014): Grades 6, 7, 8
• Information and Communication Technology II (2014): Grades 6, 7, 8
• Cyber Foundations 2 (2020)
• Advanced Technical Mathematics (2021): Grades 9, 10, 11, 12
• Carpentry (2025)
• Cyber Foundations II (2025)
• Early Childhood Education (2022)
• Exploring Computer Science (2025)
• Graphic Design I (2023)
• Graphic Design II (2023)
• Business, Marketing, and Finance: Units 10-20 Only (2020)
• Educator Preparation I & II (2022)
• Broadcast Journalism: Publications & Productions
• Business, Marketing, and Finance (2025)
• Culinary Arts I (2025)
• Culinary Arts II (2025)

Define and provide examples of the basic forms of business ownership (e.g., sole proprietorship, partnership, and corporation).2.1.a

Identify variations of basic forms of business ownership (e.g., franchise, limited partnership, limited liability company, and S corporation).2.1.b

Compare and contrast the basic forms of business ownership.2.1.c

Identify the appropriate forms of business ownership in the evolution of a business organization.2.1.d

Identify sources of capital for business ventures (e.g., venture capitalists, debt, stock sale/initial public offering, “bootstrapping,” crowdfunding, etc.).2.1.e

Define and understand concepts and terminology related to public corporations (e.g., initial public offering [IPO], shares of stock, stockholders/shareholders, common stock, preferred stock, board of directors, dividends, stock split, etc.).2.2.a

Explain organizational structure changes resulting from “going public.”2.2.b

Compare and contrast the benefits and drawbacks of transitioning a business to a publicly traded model.2.2.c

Analyze the implications of favoring one group of stakeholders at the expense of another.2.2.d

Define entrepreneurship and entrepreneur.2.3.a

Describe the differences between being an entrepreneur and an employee.2.3.b

Identify and appraise the unique contributions of entrepreneurs to an economy on the local, state, and national level.2.3.c

Identify the characteristics and skills of a successful entrepreneur.2.3.d

Compare and contrast one’s personal characteristics and skills with those of an entrepreneur.2.3.e

Evaluate the risks and benefits of choosing to become an entrepreneur.2.3.f

Describe opportunities/problems that led to the development of successful entrepreneurial endeavors.2.3.g

Identify products that emerged from changing trends.2.3.h

Identify levels of management.3.1.a

Describe the interaction between and among management levels.3.1.b

Differentiate between tall and flat organizational structures.3.1.c

Identify and analyze emerging trends in organizational structure (e.g., preCOVID/post-COVID, self-managed work teams, remote collaboration, etc.).3.1.d

Identify the factors that influence an organization’s structure (e.g., size, environment, human resources, technology, and strategy).3.1.e

Identify and understand planning as a function of management in the business setting.3.2.a

Explain the management function of planning and describe the decision-making process.3.2.b

Apply the decision-making process to scenarios in a business setting.3.2.c

Understand the existence of bias in decision-making.3.2.d

Discuss the importance of vision, mission, goals, and objective-setting within the context of the business environment.3.2.e

Explain the purpose, formation, and application of a business plan as a responsibility of management.3.2.f

Identify and understand organizing as a function of management in the business setting.3.3.a

Explain how management identifies and uses various resources in the organizing process to accomplish goals.3.3.b

Design an organizational chart.3.3.c

Analyze emerging trends in organizational structure (e.g., the gig economy, remote work, digital transformation).3.3.d

Identify and understand leading as a function of management in the business setting.3.4.a

Define leadership and discuss characteristics of effective leaders.3.4.b

Differentiate between leading and managing.3.4.c

Identify the leadership style most appropriate for a given situation.3.4.d

Identify the leadership skills most appropriate at various levels of management.3.4.e

Explain situational variables that affect leader and follower behavior.3.4.f

Identify and understand controlling as a function of management in the business setting.3.5.a

Identify aspects in a business setting that benefit from managerial control (e.g., quality control, performance efficiency, inventory, etc.).3.5.b

Explain the importance of time management and delegation.3.6.a

Identify stressors in personal and professional life and determine appropriate reactions to those stressors.3.6.b

Identify characteristics of healthy professional relationships.3.6.c

Define motivation, explain how individual needs motivate behavior, and identify ways managers can motivate employees.3.6.d

Explain the relationship between motivation and performance.3.6.e

Identify different types of conflict that commonly occur in the workplace and demonstrate how to manage conflict.3.6.f

Define human resources.4.1.a

Identify the functions of human resource management including planning, recruiting, employee development, performance assessment, compensation, termination/transition, and labor relations.4.1.b

Understand how human resource activities and policies relate to operational and strategic planning.4.1.c

Explain the recruitment function and identify selection tools and explain how they are used (e.g., interviews, tests, reference checks, background checks, including social media).4.1.d

Explain the purpose of orientation and training in successful employee performance.4.1.e

Explain the purpose of employee performance assessments and explain how an employee’s performance is evaluated.4.1.f

Identify different components of employee compensation including salary, benefit packages, and incentive programs.4.1.g

Describe legal reasons for terminating employees and the documentation process involved in ensuring legality of employee termination or transition.4.1.h

Explain human resource managers’ roles in individual labor contracts and collective bargaining with organized labor.4.1.i

Identify U.S. laws and agencies related to employment law, including Title VII of the Civil Rights Act, Equal Employment Opportunity Act, Americans with Disabilities Act, Age Discrimination in Employment Act, Occupational Safety and Health Administration, and so forth.4.2.a

Describe how employment law has impacted the workplace (e.g., sexual harassment [quid pro quo & hostile work environment], protected classes, workers’ compensation claims, hazardous work environments, etc.).4.2.b

Identify groups who are considered protected classes under employment law.4.2.c

Define marketing and Marketing Concept.5.1.a

Understand how the ability to identify and satisfy customer needs drives decisionmaking and business activities.5.1.b

Explain ways companies show concern for customers.5.1.c

Describe the factors that influence customer-business relationships (e.g., return policies, pricing, distribution, and advertising).5.1.d

Describe the role of marketing in building customer demand for goods and services.5.1.e

Describe characteristics of the changing domestic and global populations (e.g., demographics, psychographics, and geography).5.2.a

Describe the impact of consumer differences (e.g., life stages, benefits sought, usage rate, brand loyalty, and socioeconomic characteristics) on buying decisions.5.2.b

Describe how customer perceptions and impressions of a physical or virtual business impact purchase behavior.5.2.c

Define market segmentation and how companies can group consumers using characteristics, motivations, and behaviors to identify target markets.5.2.d

Identify concepts related to product as a part of the marketing mix (e.g., product classification, new product development, branding, packaging, product life cycle).5.3.a

Identify concepts related to place as a part of the marketing mix (e.g., distribution channels, wholesale/retail, brick-and-mortar vs. e-commerce, etc.).5.3.b

Identify concepts related to price as a part of the marketing mix (cost, quality, brand loyalty, pricing strategies, normal vs. luxury goods, etc.).5.3.c

Identify concepts related to promotion as a part of the marketing mix (advertising, sales promotion, public relations, and personal selling).5.3.d

Determine the importance of customers as an asset for a business.5.4.a

Identify concepts related to the importance of community relations (i.e., local school support, sponsorships of sports teams, etc.).5.4.b

Intellectual property5.5.a

Consumer protection5.5.b

Environmental regulation5.5.c

Discuss the purpose of keeping records and why financial records are necessary for future business decisions.6.1.a

Define terms associated with keeping financial records.6.1.b

Differentiate between accounting and bookkeeping.6.1.c

Describe the accounting cycle (i.e., calendar and fiscal year).6.1.d

Describe the uses of an inventory.6.2.a

Distinguish between liquid assets, consumable supplies, capital, and noncapital assets.6.2.b

Determine when to inventory (i.e., calendar or fiscal year).6.2.c

Define depreciation on capital goods.6.2.d

Define terms associated with depreciation, including write-off, capital goods, salvage value, and useful life.6.2.e

Identify the purpose of a balance sheet and determine how it is used.6.3.a

Identify assets, liabilities, and equity.6.3.b

Calculate the net worth of a business using a balance sheet.6.3.c

Differentiate between operating expenses, operating income, and revenue.6.4.a

Calculate profit or loss using an income statement.6.4.b

Identify the three categories found on a statement of cash flow (i.e., operating, investing, and financing).6.5.a

Interpret a statement of cash flow.6.5.b

Business courses available at school7.1.a

Clubs and organizations7.1.b

Mentors, job shadowing, and so forth7.1.c

Informal, online educational instruction for self-teaching (e.g., YouTube, Pinterest, etc.)7.1.d

Describe the benefits of lifelong learning.7.2.a

Identify avenues for continuing education for professionals in various fields.7.2.b

Employment-related communication skills (e.g., résumé, cover letter, thank-you letter, resignation letter, interview [as interviewee and interviewer], etc.).7.3.a

Workplace-related communication skills (email and telephone etiquette, interoffice memos, interpersonal communication, non-verbal communication, cell phone use/etiquette, active listening skills, etc.).7.3.b

Evaluate inappropriate communications related to various workplace scenarios (e.g., social media, free speech, etc.).7.3.c