Merit Badge Requirements Merit Badge History
American Business Merit Badge Workbook
This Scoutmaster Bucky Merit Badge Workbook is based off the current Scouts BSA Requirements.
Type your work on this page or download the American Business Workbook PDF.

Consider also using the American Business merit badge class preparation page for clarification and expections when participating in a Scoutmaster Bucky merit badge opportunity (online or in-person).

https://scoutmasterbucky.com/merit-badges/american-business/

Scout's Name:
Requirement 1: Do the following:
Requirement 1 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.
Four features
Difference between freedom and license
How the Scout Oath and Scout Law apply to business and free enterprise
Requirement 1 b: Describe the Industrial Revolution and 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.
Describe the Industrial Revolution
Major developments that marked the start of the modern industrial era in the United States
First person and their great influence on business or industry in the United States
Second person and their great influence on business or industry in the United States
Third person and their great influence on business or industry in the United States
Requirement 1 c: Identify and describe to your counselor the five primary areas of business.
Requirement 1 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.
History of labor unions in the United States
Importance of labor unions and employers working together
Two major labor unions currently in existence
Requirement 1 e: Discuss with your counselor how business impacts the local, national, and global economy.
How business impacts the local economy
How business impacts the national economy
How business impacts the global economy
Requirement 2: Do the following:
Requirement 2 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.
Explain an income statement and how it can help business leaders make better decisions
Explain a balance sheet and how it can help business leaders make better decisions
Explain a statement of cash flows and how it can help business leaders make better decisions
Requirement 2 b: Explain how changes in interest rates, taxes, and government spending affect the flow of money into or out of business and industry.
How changes in interest rates affect the flow of money into or out of business and industry
How changes in taxes affect the flow of money into or out of business and industry
How changes in government spending affect the flow of money into or out of business and industry
Requirement 2 c: Explain how a sole proprietorship, partnership, or limited liability company gets its capital. Discuss and explain four ways a corporation obtains capital.
How sole proprietorship or partnership gets its capital
Four ways a corporation obtains capital
Requirement 2 d: Name five kinds of insurance useful to business. Describe their purposes.
First kind of insurance useful to business and describe its purpuse
Second kind of insurance useful to business and describe its purpuse
Third kind of insurance useful to business and describe its purpuse
Fourth kind of insurance useful to business and describe its purpuse
Fifth kind of insurance useful to business and describe its purpuse
Requirement 3: Do the following:
Requirement 3 a: Explain the place of profit in business.
Requirement 3 b: Describe to your counselor green marketing and sustainable business practices.
Green marketing
Sustainable business practices
Requirement 3 c: Explain how ethics plays a role in business decision making.
Requirement 3 d: Discuss the differences between operating a brick-and-mortar business versus an online business.
Requirement 4: Describe the role of the U.S. Department of Labor. Discuss two of the following topics with your counselor:
Requirement 4 a: Fair Labor Standards Act (FLSA)
Requirement 4 b: Occupational Safety and Health Act (OSHA)
Requirement 4 c: Family and Medical Leave Act (FMLA)
Requirement 4 d: Employee Retirement Income Security Act (ERISA)
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.
Choose a business
Accounting
Finance
Economics
Marketing
Management
Requirement 6: Do ONE of the following:
Requirement 6 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 this with your counselor and explain why this interests you.
Three career opportunities
Education, training, and experience required for one career
Requirement 6 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.
Name of business leader
Learn more about his or her company
Learn more about his or her career path
The role ethics plays in making business decisions