CTE EXAM REVIEW NOCTI BUSINESS MANAGEMENT CTE EXAM

CTE EXAM REVIEW NOCTI - BUSINESS MANAGEMENT

CTE EXAM REVIEW • Also use your notes from Management Class – • Specifically: • What is Management (Levels of Management, Org Charts) • Entrepreneurship (Levels of Ownership, Business Plans) • Strategic Management & SWOT

CTE EXAM REVIEW • Leadership • A process of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task • Management • Coordinating the efforts of people to accomplish goals and objectives using available resources efficiently and effectively

CTE EXAM REVIEW • Business Structure: • CEO – Chief Executive Officer • responsible for the corporation's entire operations and reports directly to the chairman and board of directors • CFO – Chief Financial Officer • responsible for analyzing and reviewing financial data, reporting financial performance, preparing budgets and monitoring expenditures and costs • COO – Chief Operations Officer • looks after issues related to marketing, sales, production and personnel.

CTE EXAM REVIEW • Role of Government in Business • FTC: Federal Trade Commission • Promotes consumer protection and eliminates harm and anticompetitive business practices • NAFTA – North American Free Trade Agreement • Created Free Trade area for Mexico, US, and Canada • WTO - World Trade Organization • The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.

CTE EXAM REVIEW • Fair Labor Standards Act: • Regulates the Federal minimum wage for interstate commerce. • Americans with Disabilities Act: • wide-ranging civil rights law that prohibits, under certain circumstances, discrimination based on disability • National Labor Relations Act: • Governs workers rights in private sector to form labor unions, and engage in collective bargaining. • Revenue Act: • Increased individual income taxes and corporate tax rates • Equal Pay Act: • Abolished wage differences based on gender.

CTE EXAM REVIEW • Database – electronically tracks information, such as client names & dates • Charts/Diagrams • Pareto – graphically show frequencies of problems or occurrences in descending order of frequency. • Fishbone – determines root causes of problems. • Gant – Shows tasks and timelines of a project in graphical manner • Pie – Displays data in circular format with different categories as pieces of “pie”

CTE EXAM REVIEW • Classes of Fire Extinguishers • Class A: cloth • Class B: gas • Class C: • Class D: fires. used with ordinary combustibles such as wood, paper, used with flammable substances such as grease, oil, used with fires involving electrical equipment used with fires involving metals such as magnesium • Point Fire Extinguishers at the base of fires

CTE EXAM REVIEW • OSHA: Occupational Safety and Health Administration. • Government Organization that sets and enforces workforce safety and health standards • Ergonomics: Study of implementing safety and comfort in the computer user’s workplace

CTE EXAM REVIEW • A business owes Bob’s Office Supply $2500 a the beginning of September. On 9/15, the business buys an additional $400 worth of merchandise on the credit card. On 9/21, the firm returns $275 worth of the merchandise. How much is owed on 9/30. • 2500 + 400 – 275 = $2625

CTE EXAM REVIEW One major difference between strategic and tactical planning is that tactical planning tends to be A. shorter term and more narrowly defined B. longer term and more broadly defined C. targeted towards middle management D. targeted towards new employees What’s on the test?

BUSINESS MANAGEMENT - CTE General Management Technical Skills • Define and differentiate among various types of businesses (e. g. , corporation, limited liability, partnership) • Use planning tools to guide and manage an organization’s business activities • Apply marketing techniques to foster business growth • Plan and evaluate the use of financial resources to effectively manage a business • Demonstrate understanding of doing business in a global environment

BUSINESS MANAGEMENT - CTE Business Management Technical Skills • Supervise, direct, motivate, and evaluate employees • Develop, implement, and monitor tactical and strategic plans to manage growth and meet goals and organizational needs • Facilitate change and implement improvement processes to optimize organizational effectiveness

BUSINESS MANAGEMENT - CTE Academic Foundations • Apply reading skills in a business environment • Apply writing skills in a business environment • Apply mathematical skills in a business environment • Apply economic skills in a business environment Systems • Demonstrate understanding of the role of government and other regulatory bodies in business • Demonstrate understanding of company hierarchies and roles within company structures

BUSINESS MANAGEMENT - CTE Ethics and Legal Responsibilities • Apply business laws and regulations to business situations • Exhibit ethical standards in conducting business negotiations and making business decisions Communications • Locate, organize, and reference written information from reliable sources to communicate with coworkers and clients • Develop and deliver formal and informal presentations using appropriate media to engage and inform audiences • Apply listening skills and interpret verbal and nonverbal behaviors to enhance communication with coworkers and clients • Interpret and use tables, charts, and figures

BUSINESS MANAGEMENT - CTE Information Technology Applications • Use software such as word processors and spreadsheets to perform common business applications • Use software such as databases to track and maintain business information Problem Solving, Critical Thinking, and Decision Making • Use problem solving and critical thinking skills to locate good sources of information about problems and determine appropriate methods for investigating causes • Use problem solving and critical thinking skills to determine root causes of problems and suggest solutions

BUSINESS MANAGEMENT - CTE Leadership and Teamwork • Exhibit leadership practices to improve productivity and quality of the working environment • Work effectively in a team environment to accomplish company goals and improve quality of the working environment Safety, Health, and Environmental • Identify and practice appropriate health and safety procedures for business occupations • Apply appropriate emergency procedures for business occupations

BUSINESS MANAGEMENT - CTE Employability and Career Development • Demonstrate employability skills related to a career in business • Pursue career development skills to advance in business careers