TROOP•444

Old Hickory Council - Hanging Rock District

Troop 444: American Business Merit Badge

 

American Business

 

 

Requirements

  1. Do the following:
        a. Explain four features of the free enterprise system in the United States. Tell its benefits and
            responsibilities. Describe the difference between freedom and license. Tell how the Scout Oath and
            Law apply to business and free enterprise.
        b. Describe the Industrial Revolution: Tell about the major developments that marked the start of the
            modern industrial era in the United States. Tell about five people who had a great influence on
            business or industry in the United States. Tell what each did.
  2. Do the following:
        a. Visit a bank. Talk with one of the officers or staff. Chart the organization of the bank. 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. Explain how a proprietorship or partnership gets its capital. Discuss and explain four ways a
            corporation gets its capital.
        d. Explain the place of profit in business.
        e. Name five kinds of insurance useful to business. Describe their purposes.
  3. Do the following:
        a. 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.
        b. 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.
  4. Do ONE of the following:
        a. Draw an organizational chart of a typical central labor council.
        b. Describe automation, union shop, open shop, collective-bargaining agreements, shop steward,
            business agent, and union counselor.
        c. Explain the part played by four federal or state agencies in labor relations.
  5. Run a small business involving a product or service for at least three months. First find out the need for it. For example: a newspaper route, lawn mowing, sales of things you have made or grown. Keep records showing the costs, income, and profit or loss. Report:
        a. How service, friendliness, hard work, and salesmanship helped build your business.
        b. The benefits you and others received because you were in business.

    Comparable 4-H, FFA, or Junior Achievement projects may be used for requirement 5.

  6. Do ONE of the following:
        a. Make an oral presentation to your Scout troop about an e-commerce company. Tell about the
            benefits and pitfalls of doing business online, and explain the differences between a retailer and an
            e-commerce company. In your presentation, explain the similarities a retailer and an e-commerce
            company might share.
        b. Choose three products from your local grocery store or mall and tell your merit badge counselor how
            the packaging could be improved upon so that it has less impact on the environment.
        c. Gather information from news sources and books about a current business leader. Write a two-page
            biography about this person or make a short presentation to your counselor. Focus on how this
            person became a successful business leader.

American Business Worksheets for use in working on these requirements

Boy Scout Oath

On my honor, I will do my best

To do my duty to God and my Country and to obey the Scout Law;

To help other people at all times;

To keep myself physically strong, mentally awake, and morally straight.

Boy Scout Law

A Scout Is...

A Scout tells the truth.
He keeps his promises.
Honesty is part of his code of conduct.
People can depend on him.
TRUSTWORTHY
A Scout is true to his family, Scout leaders, friends, school, and nation.LOYAL
A Scout is concerned about other people. He does things willingly for others without pay or reward.HELPFUL
A Scout is a friend to all.
He is a brother to other Scouts.
He seeks to understand others.
He respects those with ideas and customs other than his own.
FRIENDLY
A Scout is polite to everyone regardless of age or position.
He knows good manners make it easier for people to get along together.
COURTEOUS
A Scout understands there is strength in being gentle.
He treats others as he wants to be treated.
He does not hurt or kill harmless things without reason.
KIND
A Scout follows the rules of his family, school, and troop.
He obeys the laws of his community and country.
If he thinks these rules and laws are unfair, he tries to have them changed in an orderly manner rather than disobey them.
OBEDIENT
A Scout looks for the bright side of things.
He cheerfully does tasks that come his way. He tries to make others happy.
CHEERFUL
A Scout works to pay his way and to help others.
He saves for unforeseen needs.
He protects and conserves natural resources.
He carefully uses time and property.
THRIFTY
A Scout can face danger even if he is afraid.
He has the courage to stand for what he thinks is right even if others laugh at or threaten him.
BRAVE
A Scout keeps his body and mind fit and clean.
He goes around with those who believe in living by these same ideals.
He helps keep his home and community clean.
CLEAN
A Scout is reverent toward God.
He is faithful in his religious duties.
He respects the beliefs of others.
REVERENT