Knowledge of basic business principles, trends, and economics.
- 3.1.1 Economic/Business/Financial Principles
- Characteristics of markets
- Cost and pricing of products
- Economic terminology
- Fundamentals of accounting
- Profit and loss
- Supply/demand
- 3.1.2 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
- 3.1.3 Business ethics – Act in the best interests of the company, your co-workers, your community, other stakeholders, and the environment
- Legal/Financial
- Comply with the letter and spirit of applicable laws
- Use company property legitimately, 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
- Comply with intellectual property laws
- Protect trade secrets
- Environmental/Health/Safety
- Maintain a healthful and safe environment and report any violations/discrepancies
- Ensure proper handling and disposal of toxic or hazardous materials
- Ensure equipment and systems are designed to be environmentally friendly and strive to continually minimize the resulting carbon footprint
- Practice sustainability by using processes that are non-polluting, conserving of energy and natural resources, economically efficient, and safe for workers, communities, and consumers
- Safeguard the public interest
- Social
- Demonstrate respect for coworkers, colleagues, and customers
- 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, and 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
- 3.1.4 Social awareness
- Understand the mission, structure, and functions of the organization
- Grasp the potential impact of the company's well-being on employees
- 3.1.5 Market knowledge
- Know who the company's primary competitors are and stay current on organizational strategies to maintain competitiveness
- Recognize major challenges faced by the organization and industry and key strategies to address challenges