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Business Fundamentals
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Determining how an economy functions as a whole. Money is allocated and spent to get the work done, and accounting for these expenditures
- Economic/Business/Financial Principles
- Economic Terminology
- Supply/Demand
- Characteristics of markets
- Cost and pricing of products
- Profit and loss
- Fundamentals of Accounting
- Economic System as a Framework for Decision-making
- Understand how one's performance can impact the success of the organization
- Consider the relative costs and benefits of potential actions to choose the most appropriate one
- Business Ethics - Act in the best interests of the company, your co-workers, your community, and the environment
- Legal/financial
- Compliance with the spirit of applicable laws as well as the letter
- Proper use of company property, minimizing loss and waste; report loss, waste or theft of company property to appropriate personnel
- Maintain privacy and confidentiality of company information, as well as that of customers and co-workers
- Environmental/health/safety
- Maintain a healthful and safe environment and report any violations/discrepancies
- Ensure proper handling and disposal of toxic or hazardous materials
- Social
- Treat co-workers fairly and with respect
- Emphasize quality, customer satisfaction and fair pricing
- Deal with customers in good faith, no bribes, kickbacks, or excessive hospitality
- Marketing
- Demonstrate an understanding of market trends, company's position in the market place, defined market segments
- Understand position of product/service in relation to market demand
- Uphold the company and product brand through building and maintaining customer relations
- Integrate internal and external customer demands and needs into manufacturing product and process development
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