Earning the American Business merit badge can help Scouts learn practical business matters that will be useful throughout life. Learning how businesses function will help you understand society and uncover a number of career options.
American Business Merit Badge
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B) Patrol Leader Plan & Setup Aids Prepare Your Patrol Plan - FUN Starts Here:
9. Announce Event - Prepare Event Flyer (See Example Here) (Scribe)
Each Participant to be notified that he needs:
- Event Dates / Places / Dress Code / Etc.
- Printed copy of worksheet
- Blue Card
- 3 ideas for a personal business opportunity.
- 3 ideas for ficticious corporate stock purchases.
10. Patrol Activity For 3 months scouts working this merit badge will be operating a business activity. You may want to schedule one or more meetings to work on this together or to check your progress.
10. Patrol History Your Patrol Historian should be ready to take pictures on this activity to report back on the next troop blog, newsletter or court of honor.
C) Program Launch
The first patrol meeting allows for the patrol to introduce the topic. Also start the 3-month tracking sheet for 3) Stock Purchase, and 5) Running a Business.
Req #3: Stock Purchase Req #3: Pretend to have bought $1,000 worth of the stocks from the company you researched. Keep a weekly record for three months of the market value of your stocks.
Pick two or more stocks from the financial pages of a newspaper.
Request the annual report or prospectus from one of the companies by writing, or visit its Web site (with your parent’s permission) to view the annual report online.
Explain how a company’s annual report and prospectus can be used to help you manage your investments.
Pretend to have bought $1,000 worth of the stocks from the company you wrote to in requirement 3a.
Explain how you "bought" the stocks.
Tell why you decided to "buy" stock in this company.
Keep a weekly record for three months of the market value of your stocks.
Show any dividends declared.
Req #5: Start A Scout Business Req #5: Run a small business Involving a product or service for at least three months. Comparable 4-H, FFA, or Junior Achievement projects may be used for requirement 5.
Some examples: a newspaper route, lawn mowing or yard care, painting house numbers on street curbs, sales of things you have made (decorative candle holders or knotted key rings or bracelets) or grown (garden patch).
First find out the need for it.
Keep records showing the costs, income, and profit or loss.
Report: How service, friendliness, hard work, and salesmanship helped build your business.
Report:. The benefits you and others received because you were in business.
Req #1: Basics of Free Enterprize:
Explain four features of the free enterprise system in the United States.
Describe the Industrial Revolution.
The five primary areas of business.
Req #4: Basics of Labor Relations:
Do ONE of the following:
Draw an organizational chart of a typical central labor council.
Describe automation, union shop, open shop, collective-bargaining agreements, shop steward, business agent, and union counselor.
Explain the part played by four federal or state agencies in labor relations.
F) Field Trip
Req #2: Banking & Finance Req #2a is a tour of a bank. While there you can discuss other principles of banking and finance listed in this requirement.
a. Visit a bank or credit union. Talk with one of the officers or staff. Chart the organization of the financial institution. Show its relationship with other banks, business and industry.
b. Explain how changes in interest rates, taxes, and government spending affect the flow of money into or out of business and industry.
c. Describe to your counselor green marketing and sustainable business practices.
d. Explain how a proprietorship or partnership gets its capital. Discuss and explain four ways a corporation gets its capital.
e. Explain the place of profit in business.
f. Name five kinds of insurance useful to business. Describe their purposes.
H) Program Conclusion
After completion of all activities there should be a final session with the merit badge counselor. In this meeting each scout has the opportunity to discuss and reflect with him on what they learned and future educational and work opportunities that exist in this field.
Req #3: Stock Purchase: Review and report on the 90 day results of your ficticious stock purchases.
Req #5: Scout Business: Review and report on the 90 day results of your small business operation.
Req #6: Presentation Prepare a presentation about either a) e-commerce company, b) local grocery store product marketing or c) Current business leader.
I) American Business Famous Quotes:
Funny Management Quote - Run your idea up the flagpole and see if anyone salutes it.
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