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Topic: Long-term and short-term management plans 

Business Education

 Standard 38.  Understands a variety of strategies used to make long-term and short-term management decisions
  Level IV (Grade 9-12)
   Benchmark 1.Understands how a sales forecast can be a short-term or long-term plan
    Knowledge/skill statements
     1.Understands how a sales forecast can be a short-term plan
     2.Understands how a sales forecast can be a long-term plan
   Benchmark 3.Knows a variety of traditional and nontraditional sources used to secure financing (e.g., equity financing such as personal savings, family and friends, forming a partnership, or using venture capital; debt financing such as borrowing; short-term loans; long-term loans; government loans)
    Knowledge/skill statements
     1.Knows a variety of traditional sources used to secure financing
     2.Knows a variety of nontraditional sources used to secure financing
     3.Knows equity financing as a source to secure financing
     4.Knows equity financing such as personal savings
     5.Knows equity financing such as family and friends
     6.Knows equity financing such as forming a partnership
     7.Knows equity financing such as using venture capital
     8.Knows short-term loans as a source to secure financing
     9.Knows long-term loans as a source to secure financing
     10.Knows government loans as a source to secure financing
   Benchmark 4.Understands the importance of research to business planning and development
    Knowledge/skill statements
     1.Understands the importance of research to business planning
     2.Understands the importance of research to business development
   Benchmark 6.Knows how financial data is used to make business decisions (e.g., income statement, balance sheet, cash flow statement, statement of net worth)
    Knowledge/skill statements
     1.Knows how financial data is used to make business decisions
     2.Knows how income statements are used to make business decisions
     3.Knows how balance sheets are used to make business decisions
     4.Knows how cash flow statements are used to make business decisions
     5.Knows how statements of net worth are used to make business decisions