• Explain free market capitalism
• Describe and explain home-based entrepreneurial endeavors
• Explain how intermediaries perform the six marketing utilities
• Compare the business-to-business market and the consumer market
• Identify the new and traditional tools that make up the promotion mix
• Define and apply common economic indicators
• Define and discuss the ethical and social responsibilities of business
• Describe managements role in setting ethical standards
• Describe and apply a business code of ethics
• Describe and explain the role of U.S. businesses in influencing ethical behavior and social responsibility in global markets
• Describe and explain sales law under the Uniform Commercial Code
• Define the elements of a contract
• Summarize several laws that regulate competition and protect consumers in the US
• Describe and explain the role of deregulation in the economy
• Discuss the changing landscape of the global market and the issue of offshore outsourcing
• Explain why nations trade
• Describe and explain the forces that affect trading in global markets
• Explain the advantages and disadvantages of trade protectionism
• Describe the role entrepreneurs play in the creation of jobs
• Explain why people take the risks of entrepreneurship, list the attributes of successful
• Analyze what it takes to start and run a small business
• Show how marketers use environmental scanning to learn about the changing marketing environment
• Explain how marketers apply the tools of market segmentation, relationship marketing, and the study of consumer behavior
• Discuss the four Ps of marketing
• Define marketing and apply the marketing concept to both for-profit and nonprofit organizations
• Show how word of mouth, e-mail marketing, viral marketing, blogging, podcasting, and mobile marketing work
• Contrast the advantages and disadvantages of various advertising media, including the Internet and social media
• Understand channel systems, and explain the various ways to build cooperation in them
• Describe and explain the four functions of management
• Relate the planning process and decision making to the accomplishment of company goals
• Describe the current state of U.S. manufacturing and what manufacturers have done to become more competitive
• Describe and explain planning issues as they relate to a firms operations, including its employees
• Show how managers put motivation theories into action through such strategies as job enrichment, open communication, and job recognition
• Show how managers personalize motivation strategies to appeal to employees across the globe and across generations
• Describe the various production processes, and describe techniques that improve productivity
• Describe and explain how to use a PERT chart and a Gantt chart
• Explain how flexible manufacturing is used
• Describe and explain when to use lean manufacturing
• Explain how mass customization can be used
• What are ERP and MRP?
• How does vision apply to business?
• Explain and apply facility location and layout to business
• Describe the four eras in the evolution of marketing
• Describe and explain the role of marketing managers and the marketing mix
• Describe the marketing research process
• Describe logistics and outline how intermediaries manage the transportation and storage of goods
• Describe business-to-business marketing (B2B) and the business-to-consumer sales process
• Describe and explain how social media complements other promotions, including promotional strategies
• Describe and explain social media and Web 2.0
• Describe and explain privacy issues and stability issues as they apply to information networks
• Describe some of the common types of information used by business
• Describe and explain how information is managed
• Explain knowledge management and how it can be applied in a business setting
• Describe the types of computer software most frequently used in business
• Describe and explain business intelligence and how it is changing business
• Describe and explain virtualization and cloud computing
• Explain the different accounting disciplines
• List, describe, and apply business financial statements (income statement, balance sheet, statement of cash flows)
• Describe the roles and responsibilities of financial managers
• What are the finance concerns for small businesses
• List the types of financial budgets