Principles of Business, Marketing and Finance 1a - VLACS
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Status

Open

Estimated Completion Time

18 weeks

Overview

Provide students with fundamental knowledge that will help them pursue a career in business! Students will explore different types of businesses and ownership forms, the impact of governments on business, and the marketing of goods and services. Students will also be expected to learn about globalization, free trade, and various economic systems. Finally, the impact of technology on business, business ethics, and social responsibility are discussed, providing students with a foundational knowledge of business.

Major Topics and Concepts

What will you learn in unit 1?

Identify the role of business in society
Explain the different types of businesses
Differentiate among types of business ownership
Compare organizational and structural functions of business

What will you learn in unit 2?

Classify types of business that market goods and services
Identify types of retailers and suppliers
Explain the significance of free enterprise
Describe the role of wholesalers

What will you learn in unit 3?

Describe the concept of economies and economic systems
Differentiate among economic systems
Explain the principles of supply and demand
Identify the function of prices in the market

What will you learn in unit 4?

Discuss factors impacting business profit, revenue, and expenses
Explain elements that impact profit
Analyze the benefits of specialization of labor
Demonstrate the benefits of division of labor

What will you learn in unit 5?

Define and distinguish ethical practices in business
Recognize and respond to ethical dilemmas
Compare and contrast moral and legal issues in the workplace
Analyze the benefits of sustainable practices

What will you learn in unit 6?

Debate and evaluate the importance of international trade to the US economy
Critique the role of business in a global society
Compare domestic and world trade
Analyze the impact of imports and exports on the US economy
Critique the benefits and drawbacks of protectionism including tariffs

What will you learn in unit 7?

Determine the relationship between government and business
Differentiate among the roles of government in business
Articulate the role of organized labor
Analyze different types of risk

What will you learn in unit 8?

Evaluate and critique information literacy skills implemented to improve productivity in the workplace
Identify the ways technology impacts business
Discuss the significance of data mining for businesses
Articulate appropriate security and privacy practices in business

Credits .5

Competencies

  • Business Fundamentals & Role in Society
    Students will demonstrate an understanding of business fundamentals and business role in society by investigating the role of business in society, researching business classifications, types and organizational structures, and examining the significance of free enterprise.
  • Economics of Business
    Students will demonstrate an understanding of the economics of business by differentiating between economic systems, investigating the principles of supply and demand, and examining elements that impact business such as specialization and division of labor.
  • Business Ethics
    Students will demonstrate an understanding of business ethics by researching ethical practices in business, identifying moral and legal issues, and analyzing the benefits of sustainable practices in business.
  • Global Business and Government Impact
    Students will demonstrate an understanding of global business and the impact of government on business by evaluating the importance of international trade and its impact on the US economy and researching the relationship between government and business.
  • Business Data & Technology
    Students will demonstrate an understanding of the importance of data in business by evaluating information literacy skills, researching the impact of data mining, and investigating the importance of security and privacy practices in business

Pre-Requisites

None

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We offer regular online open house webinars where VLACS staff members provide parents and students with an overview of our programs and answer questions about online learning.