Ohio CTE Standard Alignment –Ohio STEP

Business Management and Administrative Services	Finance	Marketing
X	X	X

Outcome 1.2. Leadership and Communications Process, maintain, evaluate and disseminate information in a business. Develop leadership and team building to promote collaboration.

Competencies:

1.2.5. Communicate information for an intended audience and purpose.

1.2.6. Use proper grammar and expression in all aspects of communication.

1.2.7. Use problem-solving and consensus-building techniques to draw conclusions and determine next steps.

1.2.10. Use interpersonal skills to provide group leadership, promote collaboration and work in a team.

1.2.12. Use technical writing skills to complete forms and create reports. 

1.2.13. Identify stakeholders and solicit their opinions. 

1.2.14. Use motivational strategies to accomplish goals.

Outcome 1.3. Business Ethics and Law Analyze how professional, ethical and legal behavior contributes to continuous improvement in organizational performance and regulatory compliance.

Competencies:

1.3.8. Verify compliance with computer and intellectual property laws and regulations.

Outcome 1.4. Knowledge Management and Information Technology Demonstrate current and emerging strategies and technologies used to collect, analyze, record and share information in business operations.

Competencies:

1.4.2. Select and use software applications to locate, record, analyze and present information (e.g., word processing, e-mail, spreadsheet, databases, presentation, Internet search engines).

Outcome 1.5. Global Environment Evaluate how beliefs, values, attitudes and behaviors influence organizational strategies and goals.

Competencies:

1.5.8. Identify how multicultural teaming and globalization can foster development of new and improved products and services and recognition of new opportunities.

Outcome 1.6. Business Literacy Develop foundational skills and knowledge in entrepreneurship, financial literacy and business operations.

Competencies:

1.6.1. Identify business opportunities. 

1.6.2. Assess the reality of becoming an entrepreneur, including advantages and disadvantages (e.g., risk versus reward, reasons for success and failure). 

1.6.3. Explain the importance of planning your business. 

1.6.4. Identify types of businesses, ownership and entities (i.e., individual proprietorships, partnerships, corporations, cooperatives, public, private, profit, not-for-profit).

1.6.6. Identify the target market served by the organization, the niche that the organization fills and an outlook of the industry. 

1.6.7. Identify the effect of supply and demand on products and services. 

1.6.8. Identify the features and benefits that make an organization’s product or service competitive.

1.6.11. Describe how all business activities of an organization work within the parameters of a budget. 

Outcome 1.7. Entrepreneurship/Entrepreneurs Analyze the environment in which a business operates and the economic factors and opportunities associated with self-employment.

Competencies:

1.7.2. Explain the role of profit as the incentive to entrepreneurs in a market economy. 

1.7.3. Identify the factors that contribute to the success and failure of entrepreneurial ventures. 1.7.4. Assess the roles of nonprofit and for-profit businesses. 

1.7.5. Develop a business plan. 

1.7.6. Describe life cycles of an entrepreneurial business and an entrepreneur. 

1.7.7. Create a list of personal strengths, weaknesses, skills and abilities needed to be successful as an entrepreneur. 

1.7.12. Identify resources available to entrepreneurs (e.g., Small Business Administration, mentors, information resources, educational opportunities). 

1.7.13. Protect intellectual property and knowledge (e.g., copyright, patent, trademark, trade secrets, processes).

Outcome 1.8. Operations Management Plan, organize and monitor an organization or department to maximize contribution to organizational goals and objectives.

Competencies:

1.8.1. Forecast future resources and budgetary needs using financial documents (e.g., balance sheet, demand forecasting, financial ratios). 

1.8.2. Select and organize resources to develop a product or a service.

1.8.9. Develop a budget that reflects the strategies and goals of the organization.

Outcome 1.9. Financial Management Use financial tools, strategies and systems to develop, monitor and control the use of financial resources to ensure personal and business financial well-being.

Competencies:

1.9.1. Create, analyze and interpret financial documents (e.g., budgets, income statements).

1.9.7. Review and summarize categories (types) of insurance and identify how insurances can reduce financial risk. 

1.9.8. Identify income sources and expenditures. 

Outcome 1.10. Sales and Marketing Manage pricing, place, promotion, packaging, positioning and public relations to improve quality customer service.

Competencies:

1.10.1. Identify how the roles of sales, advertising and public relations contribute to a company’s brand. 

1.10.2. Determine the customer's/client’s needs and identify solutions and potential community resources. 

1.10.3. Communicate features, benefits and warranties of a product or service to the customer/client.

1.10.5. Monitor customer/client expectations and determine product/service satisfaction by using measurement tools. 

1.10.6. Discuss the importance of correct pricing to support a product’s or service’s positioning in the marketing mix. 

1.10.7. Describe the importance and diversity of distribution channels (i.e., direct, indirect) to sell a product. 

1.10.8. Use promotional techniques to maximize sales revenues (e.g., advertising, sales promotions, publicity, public relations). 

Outcome 1.11. Principles of Business Economics Examine and employ economic principles, concepts and policies to accomplish organizational goals and objectives.

Competencies:

1.11.1. Identify the economic principles that guide geographic location of an industry's facilities (e.g., relative scarcity, price, quantity of products and services). 

1.11.2. Identify the difference between monetary and nonmonetary incentives and explain how changes in incentives cause changes in behavior.

1.11.4. Determine how the quality, quantity and pricing of goods and services are affected by domestic and international competition in a market economy.

Outcome 2.1. Business Activities Relate business functions to business models, business strategies and organizational goal achievement.

Competencies:

2.1.1 Explain the reasons that businesses and organizations exist and their role in society, and describe types of business models.

2.1.5 Describe the need for and role of accounting and finance (e.g., understanding accounting treatment, verifying information, analyzing variances, guiding decision-making), and explain how they interact with and impact other business activities or functions. 

2.1.7 Explain the nature and scope of information management and its contributions to business operations.

2.1.8 Describe marketing’s role and function in business and its contributions to overall business strategy. 

2.1.10 Describe connections between company actions and results (e.g., influencing consumer behavior, gaining market share). 

2.1.13 Identify ways that technology impacts business activities. 

2.1.14 Describe the evolution of business.

Outcome 2.2. Economic Principles Relate principles and concepts of applied economics to business models, business activities and organizational goal achievement.

Competencies:

2.2.1 Describe the concepts of economic goods and services, economics and economic activities (i.e., production, distribution, exchange, consumption and circular flow of income model). 

2.2.2 Explain types of economic resources, competition and economic systems (e.g., traditional, command, market); and describe the systems’ characteristics, their advantages and disadvantages and impact on business. 

2.2.3 Identify the impact of small business and entrepreneurship on market economies.

2.2.5 Determine types of business risks (e.g., pure, speculative, natural, human, economic).

2.2.6 Distinguish between gross and net profit, identify factors affecting a business’s profit (e.g., demand, chance, pricing, expenses, costs, the economy), and recognize controllable and noncontrollable expenses. 

2.2.7 Determine the relationship between government and business, identify government agencies that facilitate trade, and describe the impact of government regulations on business activities.

Outcome 2.4. Business Processes Relate business-process design to organizational structure and organizational goal achievement.

Competencies:

2.4.2 Identify types of business processes, their purposes (e.g., added customer value, increased efficiencies), their characteristics, their components (e.g., events, activities, decision points, metrics) and their interrelationships. 

2.4.3 Describe the importance of outcomes and value in business processes and the business problems created by inefficient business processes (e.g., unhappy customers, increased costs, missed deadlines, frustrated coworkers). 

2.4.4 Describe the relationship among policies, processes and procedures.

2.4.6 Identify reasons that business processes change. 

2.4.7 Describe business-process management, the role of IT and the integration of social networking into business-process performance.

Outcome 3.1. Customer Relations Apply techniques, strategies and tools to develop, maintain and grow positive internal and external customer, or client, relationships. 

Competencies:

3.1.1 Explain the nature of positive customer, or client, relations and their role in keeping customers; and describe the importance of meeting and exceeding customer expectations.

3.1.3 Apply a customer-service mindset in a culturally appropriate manner (e.g., respond to customer inquiries; reinforce service through effective, ongoing communication).

3.1.8 Build, maintain and improve relationships with customers, or clients; and promote brand and solicit new ideas and solutions using social media. 

3.1.9 Identify opportunities to use crowdsourcing to engage customers or clients, to improve customer or client relationships, to promote brand and to solicit new ideas and solutions.

Outcome 3.3. Business Communications Management Apply strategies and procedures to plan, create, implement and evaluate internal and external company communications.

Competencies:

3.3.4 Implement strategies to solicit feedback. 

3.3.5 “Sell” ideas to internal and external audiences. 

3.3.6 Communicate the business’s plans, strategies and procedures; and verify the understanding of recipients.

3.3.11 Develop an integrated approach for social media content creation that provides for consistent branding and messaging across channels for original and repurposed content. 

3.3.13 Interpret research data into information for decision-making (e.g., interpret descriptive statistics, correlations), and translate findings into actionable business recommendations. 

3.3.14 Communicate research information to others (e.g., display data in charts or graphs, prepare presentations, prepare written reports).

Outcome 4.1. Enterprise Risk Management Fundamentals Apply foundational business skills and tools to identify risks and seize opportunities related to the achievement of business objectives.

Competencies:

4.1.4 Identify events (e.g., disasters, cyber-attacks, product launch) and stakeholder activities (e.g., supplier bankruptcy, rogue employee, compromised personal information, competitor exit) that could facilitate or prevent an organization from achieving its objectives; i.e., risk at the organizational level. 

Outcome 4.3. Compliance Develop compliance systems, processes and procedures used to manage compliance risk across an organization. 

Competencies:

4.3.1 Compare and contrast internal and external authoritative sources of compliances standards (e.g., legal code, government agencies and self-regulatory organizations), the types of institutions governed and the penalties associated with noncompliance. 

4.3.2 Explain the impact of compliance requirements on business structure, functions (e.g., marketing, information technology, human resources), products and services and pricing. 

Outcome 5.1. Marketing Fundamentals Describe principles of marketing, marketing functions and the factors influencing their effectiveness.

Competencies:

5.1.1 Identify marketing functions, their interrelatedness, their overall contributions to business strategy and the metrics used to measure success.

5.1.5 Describe the function of pricing to understand its role in marketing. 

5.1.6 Explain factors affecting pricing decisions (e.g., customer value perception, brand, negotiating power, corporate policies, competitive strategy, stage of customer life cycle).

5.1.11 Describe sales processes and techniques that can be used to facilitate selling. 

5.1.12 Explain the impact of technology on marketing costs, marketing strategy and marketing return on investment.

Outcome 5.2. Channel Management Apply the concepts and processes needed to identify, select, monitor and evaluate distribution channels that support achievement of organizational goals and objectives.

Competencies:

5.2.1 Distinguish among distribution channels for consumer goods, industrial goods and services.

5.2.6 Select channels of distribution.

Outcome 5.3. Marketing Information Management Apply the concepts, systems and tools needed to gather, synthesize, evaluate and disseminate marketing information for use in making business decisions that achieve organizational goals and objectives.

Competencies:

5.3.3 Describe data and reports that are monitored for marketing decision-making.

5.3.5 Track business information to stay abreast of trends and changes that could impact marketing (e.g., customer databases, partners’ and competitors’ activities, sales and operational data, environmental changes).

Outcome 5.4. Marketing Research Apply qualitative and quantitative research methods, techniques and tools to gather, synthesize, evaluate and disseminate information about a specified problem, issue or opportunity for use in making business decisions that achieve organizational goals and objectives.

Competencies:

5.4.2 Determine the need for and value of marketing research, describe its impact on business strategies, and set research objectives.

5.4.7 Determine how to obtain needed marketing-research data.

Outcome 5.5. Market Planning Utilize principles and tools to select an audience and to identify and select marketing strategies to reach targeted audiences. 

Competencies:

5.5.3 Describe the concepts of market and market identification. 

5.5.4 Identify market segments and select target market(s). 

5.5.5 Profile target customer to determine market needs and customer demand for products and services.

5.5.7 Conduct a market analysis (e.g., market size, area, potential).

5.5.15 Assess marketing strategies to improve return on marketing investment (ROMI).

Outcome 5.6. Pricing Apply the concepts and strategies needed to determine and adjust prices to maximize return and meet customers’ or clients’ perception of value.

Competencies:

5.6.3 Select approach for setting a base price (e.g., cost, demand, competition). 

5.6.4 Determine product’s cost (e.g., breakeven, ROI, markup).

5.6.9 Compare and contrast the pricing of goods and services in business-to-business (B2B) and business-to-consumer (B2C) environments.

Outcome 5.7. Product and Service Management Apply the concepts and processes needed to obtain, develop, maintain and improve a product or service mix in response to market opportunities

Competencies:

5.7.3 Nurture product ideas through to fruition. 

5.7.4 Determine opportunities to improve products and services (e.g., extend product lines, create niche markets, increase differentiation, close a gap in service) using marketing-research insights. 

5.7.11 Implement techniques to increase customer exposure to products.

Outcome 5.8. Branding Apply branding techniques and methods to acquire position in the minds of internal and external customers that is consistent with organizational goals and objectives.

Competencies:

5.8.4 Determine company’s unique selling proposition.

5.8.9 Determine and communicate brand values to customers and employees. 

5.8.10 Assess customer experiences, and evaluate consistency in delivering on brand values.

Outcome 5.9. Marketing Communications Apply the concepts and determine the strategies needed to communicate information about products, services, images or ideas to achieve desired outcomes that support organizational goals and objectives.

Competencies:

5.9.1 Describe types of promotional channels used to communicate with targeted audiences (e.g., word-of-mouth, direct, advertising, social) and the use of public-relations activities and trade shows or expositions. 

5.9.2 Explain types of media used in advertising (e.g., print, broadcast, digital, out-of-home, specialty, direct mail, product placement) and the types of advertisements used by those media.

5.9.3 Explain the use of an advertisement’s components to communicate with targeted audiences.

5.9.8 Execute direct-marketing strategies to attract attention and to build brand (e.g., direct mail, online advertising, email marketing, websites, social media, podcasts and webcasts, videos and images, mobile, search-engine optimization, crowdsourcing).

Outcome 7.2. Sourcing and Procurement Implement sourcing and procurement activities to obtain resources that enable achievement of organizational goals and objectives and to enhance the organization’s financial wellbeing.

Competencies:

7.2.2 Identify potential sources of materials or services locally, nationally and globally; and make purchases.

Outcome 7.6. Distribution and Logistics Management Coordinate the movement of materials and information into an organization and the movement of finished products and services out of an organization efficiently and effectively to achieve organizational goals.

Competencies:

7.6.3 Analyze the cost structure and advantages and disadvantages of different transportation modes. 

7.6.4 Analyze the impact of warehouse size and space layout on inventory management options, materials handling and logistical requirements.

7.6.7 Develop and manage transportation plans or networks to meet customer requirements and to comply with domestic and international regulations.

Outcome 8.1. Business Process Analysis Conduct business process analysis to identify, analyze, and solve business problems and improve process performance.

Competencies:

8.1.2 Document the process activities, records or information and systems involved in business activities (e.g., developing new products, acquiring new customers, producing inventory for sale, selling goods and services, managing people).

Outcome 9.1. Financial Principles Apply tools, strategies and systems to plan and monitor the use of financial resources. 

Competencies:

9.1.1 Compare and contrast types of business, types of business ownership and the role of profit and taxes in influencing business structure.

9.1.6 Distinguish among profit, cash flows and return-on-investment (ROI) measures; and identify factors that could cause different outcomes within these three measures of business performance. 

9.1.7 Interpret cost-benefit analysis and revenue analysis (e.g., total revenue, marginal revenue, output, profit).

9.1.9 Calculate sales and financial ratios. 

9.1.10 Forecast sales and interpret financial ratios. 

9.1.14 Monitor and calculate profitability and return on investment (ROI). 

Outcome 9.2. Corporate Investments Implement tools and strategies to evaluate business performance for investment purposes. 

Competencies:

9.2.6 Describe how a business’s financial needs at different stages of development may impact performance and company value.

Outcome 9.3. Financial Risk Management Implement tools and strategies to evaluate business performance for investment purposes. 

Competencies:

9.3.2 Calculate internal performance measures (e.g., product-line profitability, business unit profitability, return on investments, working capital). 

Outcome 9.5. Financial Accounting Track, record, and summarize financial transactions to enable accurate reporting of financial activity to external parties.

Competencies:

9.5.10 Summarize accounting data in trial balances, worksheets and financial statements.

Outcome 9.7. Managerial Accounting Track, report and analyze a company’s financial information to enable decision-making by internal parties.

Competencies:

9.7.3 Apply cost accounting techniques to challenge prices and to calculate cost of goods sold (e.g., job and process costing, activity-based costing).

9.7.6 Apply cost and revenue data for short-term and long-term decision-making, strategic planning and forecasting. 

9.7.7 Project future revenues and expenses for budgeting and forecasting purposes.

9.7.10 Prepare budget and forecast reports (e.g., overhead, production, operating, capital expenditure) and budgeted operating statements using preliminary budget detail.

Outcome 10.1. Strategic Planning Implement planning tools to guide organization’s or department’s activities. 

Competencies:

10.1.7 Develop strategic action plans at the departmental level to achieve goals and objectives (e.g., marketing, research and development, procurement, production, human resources, information technology).

10.1.10 Describe the process and structure of business planning.

Outcome 10.6. Product Development Generate, screen and develop ideas into new products and services that can be commercialized.

Competencies:

10.6.1 Generate ideas for new products and services using innovation skills, creative-thinking techniques and crowdsourcing. 

10.6.2 Develop decision-making criteria, and define the decision-making process that will be used to screen ideas for feasibility. 

10.6.3 Research the potential costs, revenues and profits and marketing strategy of the new product or service (i.e., conduct feasibility study). 

10.6.5 Determine and solicit the involvement of other business functions and resources to test product ideas, and evaluate product ideas against existing portfolios and strategies. 

10.6.6 Coordinate development of prototype or proof-of-concept. 

10.6.8 Determine resources available to advance ideas to the commercialization stage in either an intrapreneurship or entrepreneurship capacity (e.g., grants, business-development agencies and incubators, partnerships, joint ventures). 

10.6.9 Create a business plan. 

10.6.10 Implement the initial steps to establish a business (e.g., select business structure, complete legal and regulatory filings, establish financial and tax accounts). 

10.6.11 Identify the purposes and the components of a business plan.