AMerican Business Merit Badge
CLASS PREPARATION PAGE
 
GENERAL INSTRUCTIONS
 
Please arrive with ample time prior to the start time of your class for registration.  Remember there will be others checking in as well and depending on the size of the class, and the event the class is being held in conjunction with, that registration may take a little time.

You should bring a blue card filled out properly for this class. - Scoutmaster Bucky Online participants - you will not be allowed to participate if you have not provided your signed blue card prior to the class - you should have forwarded your blue card to Scoutmaster Bucky prior to the class via email or postal mail:
Scoutmaster Bucky - 5724 Aldrich Avenue South  Minneapolis, Minnesota  55419.

If you are not familiar with how to fill out a blue card, you should familiarize yourself with Scoutmaster Bucky's "How To Fill Out A Blue Card" document. Click here for Scoutmaster Bucky's "How To Fill Out A Blue Card".  Remember it is a Scout's responsibility to take care of their own blue card from beginning to end.
 
 
 
Your Scout Uniform is required to be worn for attending this Merit Badge session.   If you have any additional questions, please feel free to contact Brian Reiners; Scoutmaster Bucky via email or on the phone at 612-483-0665.

Reviewing the merit badge pamphlet PRIOR to attending and doing preparation work will insure that Scouts get the most out of these class opportunities. The merit badge pamphlet is a wealth of information that can make earning a merit badge a lot easier. It contains many of the answers and solutions needed or can at least provide direction as to where one can find the answers.

It is NOT acceptable to come unprepared to a Scoutmaster Bucky event. You can (and should) use the Scoutmaster Bucky American Business Merit Badge Workbook to help get a head start and organize your preparation work. Please note that the use of any workbook is merely for note taking and reference and completion of any Merit Badge workbook does not warrant, guarantee, or confirm a Scouts completion of any merit badge requirement(s). You can download the Scoutmaster Bucky American Business Merit Badge Workbook by clicking here.

It should be noted that this merit badge class is not meant for those who just want to come and see what they can get done. It is possible to complete this merit badge by being properly prepared and having done the preparation work prior to the class. Preparation is a MUST 
 
 
Other American Business MERIT BADGE PAGES
 
American Business Merit Badge Current Requirements
 
Scoutmaster Bucky's - American Business Merit Badge Workbook
 
American Business Merit Badge and Merit Badge History Page
 
American Business MERIT BADGE SPECIFICS
 

American Business Merit Badge Things to remember to bring for this Merit Badge Class:

1. Merit Badge Blue Card properly filled out and signed off by your Scoutmaster

2. American Business Merit Badge Pamphlet

3. Scout Uniform

4. Supporting documentation or project work pertinent to this merit badge which may also include a Merit Badge Workbook for reference with notes

5. A positive Scouting focus and attitude

 
REQUIREMENTS WITH SUGGESTED STUDY PREPARATION NOTES
 

1. Do the following:

a. Explain four features of the free enterprise system in the United States. Describe the difference between freedom and license. Tell how the Scout Oath and Scout Law apply to business and free enterprise.

Scouts should come to the class with notes on their research and understanding of this component. The "tell" action will more than likely be a part of group discussion led by the counselor in which each Scout will be given an opportunity to share their findings for this component of the requirement.

b. Describe the Industrial Revolution: Tell about the major developments that marked the start of the modern industrial era in the United States. Discuss three people who had a great influence on business or industry in the United States and describe what each did.

Scouts should make notes to assist them with the explanation components of this requirement. It is strongly recommended that Scouts bring any notes or supporting documents they may have to help show the counselor that they have prepared for discussion of this requirement.

c. Identify and describe to your counselor the five primary areas of business.

Scouts will not only need to be prepared to share their identified areas of business but will also need to be able to share a description of each with the counselor during the class. It is recommended that Scouts utilize a notebook or workbook to make notes that they can reference during the class and to help show the counselor that some preparation efforts took place prior to class.

d. Explain the history of labor unions in the United States and the importance of labor unions and employers working together. Identify two major labor unions currently in existence.

Scouts will find reviewing the American Business Merit Badge pamphlet to be the best source for gaining insight and knowledge about labor unions.  Scouts should consider looking beyond the merit badge pamphlet to gain additional understanding about labor unions and challenge themselves to identify at least one of the two required current labor unions not listed in the pamphlet.  While this is not required, consider it to broaden your understanding of labor unions.  Scouts should make notes and be prepared to share their findings during the class.

e. Discuss with your counselor how business impacts the local, national, and global economy.

This requirement is asking for three levels of consideration. Think and formulate your understanding of how business impacts these three parts of the economy. Scouts will share their findings as a part of the class discussion on this requirement component.  It is strongly recommended, but not required, that Scouts consider using the Scoutmaster Bucky American Business Merit Badge Workbook, or another workbook or notebook, to make notes for reference during the class discussion. Be prepared.

 

2. Do the following:

a. Explain the three basic types of financial statements (income statement, balance sheet, and statement of cash flows). Discuss with your counselor how each statement can help business leaders make better decisions.

Scouts will not only find the merit badge pamphlet contains a good summary of these financial statement items, but a general internet search will also yield solid information to prepare for the class discussion. Scouts should not only be able to identify each type of statement but also be able to explain how each can help business make better decision relating to their business objectives and efforts.  Only Scouts who can clearly show they have prepared for discussion on this requirement component will be considered for sign off at the class.

b. Explain how changes in interest rates, taxes, and government spending affect the flow of money into or out of business and industry.

Scouts should arrive prepared for the class and discussion on this requirement component during the class. Although not required, Scouts should consider making notes for reference to help assist with their explanation during the class. 

c. Explain how a proprietorship or partnership gets its capital. Discuss and explain four ways a corporation obtains capital.

Scouts will be given an opportunity to share their findings, either one on one with the counselor and/or in group discussion with the other Scouts, facilitated by the counselor within the class. Scouts should utilize the merit badge pamphlet to prepare for the explanation and discussion items within this component of the requirement. Consider making notes to help aid in your completion.

d. Name five kinds of insurance useful to business. Describe their purposes.

Scouts will need to do a little research ahead of time on this part of the requirement. It is strongly recommended to utilize a Merit Badge Workbook to help organize your notes on this component. Documenting your research and findings will serve to help make completion of this part of the requirement much easier during the class.

 

3. Do the following:

a. Explain the place of profit in business.

It is strongly recommended that Scouts come to the class with notes ready for use when completing this component. Scouts will want to be able to share their explanation clearly and concisely and notes will not only aid in this but help show the Counselor that some thought and effort have gone into preparing for this requirement.

b. Describe to your counselor green marketing and sustainable business practices.

Scouts should come to the class ready to describe and discuss with the counselor what they have read, researched and learned about the topics in this this requirement. Examples or comparison can be helpful in showing the counselor that you have a solid understanding of the requirement component and will increase your ability to potentially be signed off on this requirement component at the class.

c. Explain how ethics plays a role in business decision making.

Scouts will want to first review what the term ethics means and encompasses. After refamiliarizing themselves with this term Scouts should consider what business leaders might need to consider when running a business and how they make the decisions they do.  Scouts will find writing their thoughts down ahead of time will aid them best with their explanation during the class.

d. Discuss the differences between operating a brick-and-mortar business versus an online business.

Scouts will find listing the pros and cons of the two options in this requirement component to be a good way to start getting prepared for completing this requirement. These pros and cons will help Scouts to identify the differences rather easily. Scouts will have an opportunity to share their findings during the class.  It is recommended that Scouts come to the class with a workbook or notebook containing notes they can reference when discussing this requirement component for the best opportunity of completion at the class.

 

4. Describe the role of the U.S. Department of Labor.  Discuss two of the following topics with your counselor:

a. Fair Labor Standards Act (FLSA)

b. Occupational Safety and Health Act (OSHA)

c. Family and Medical Leave Act (FMLA)

d. Employee Retirement Income Security Act (ERISA)

The first part of this requirement is to describe the role of the U.S. Department of Labor, so Scouts should make sure they prepare by reading up on this division of the government and make any notes they may feel necessary to aid them in their discussion during the class.

The second part of this requirement is to pick two of the four components of this requirement to review and prepare for discussion their understanding of the items selected during the class.  Again, Scouts may consider making notes to reference during the class discussion.   Only Scouts who are prepared and actively participate in the discussion during class will be considered for sign off on this requirement.

 

5. Choose a business and research how it applies each of the primary areas of business (accounting, finance, economics, marketing, and management). Share what you have learned with your counselor.

Scouts will need to carefully manage their time and resources when working on this requirement. This is not a requirement that can be done in an hour or two. After selecting the business they want to research, they will need to spend considerable time looking into the numerous different areas of business for the company or corporation. It cannot be emphasized enough that Scouts will spend a lot of time preparing for sharing on this requirement which will require a very extensive and thorough report covering all aspects of the business and the stated items of this requirement shown. This requirement is best completed by Scouts who allot themselves plenty of time to complete and realize this is not just a single afternoon project. Time will be provided within the class for any Scouts interested in sharing their partial or completed progress on this requirement.

 

6. Do ONE of the following:

a. Choose one of the primary areas of business and identify three career opportunities.  Select one and research the education, training, and experience required for this career.  Discuss with your counselor and explain why this interests you.

Scouts that choose to do this requirement component will need to select either accounting, finance, economics, marketing, or management as their aprimary area of business and then identify three careers where someone seeking to work in that area of business might pursue.  Find out all that it takes to become prepared, educated, and trained for the highest probability of appeal to a potential employer.  Scouts should be ready to share their findings with the counselor and class during the class.

b. Select a business leader and interview this individual to learn more about his or her company and career path.  Discuss the role ethics plays in making business decisions.  Share what you have learned with your counselor.

Those Scouts that choose this requirement component to complete the requirement will need to make sure to have proof of their interview and either a very good memory or strong notes to support their findings when sharing what they learned during the class. Be Prepared.

 
this page last reviewed / updated: April 2019
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