American Business

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{{Merit Badge header|woodwork|American Cultures|[[American Business]] is '''''[[Merit Badges Earned|the rarest merit badge]]''''', with only 539 earned in 2007!}}
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{{Infobox_MeritBadge_Green
{{Infobox_MeritBadge_Green
|name= American Business
|name= American Business
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|discontinued= N/A
|discontinued= N/A
|requirements revision= 2003
|requirements revision= 2003
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|pamphlet revision= 2002
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|pamphlet revision= 2008
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|field = Business and Industry
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|id = 015
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|source1= Replaced
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|source2= [[Business]]
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|quote=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.
}}
}}
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{{Merit Badge introduction}}
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== Merit badge requirements ==
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{{reqs||merit badge }}
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:1. Do the following:
 
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::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.
 
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::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.
 
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:2. Do the following:
 
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::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.
 
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::b. Explain how changes in interest rates, taxes, and government spending affect the flow of money into or out of business and industry.
 
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::c. Explain how a proprietorship or partnership gets its capital. Discuss and explain four ways a corporation gets its capital.
 
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::d. Explain the place of profit in business.
 
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::e. Name five kinds of insurance useful to business. Describe their purposes.
 
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:3. Do the following:
 
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::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.
 
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::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.
 
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:4. Do ONE of the following:
 
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::a. Draw an organizational chart of a typical central labor council.
 
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::b. Describe automation, union shop, open shop, collective-bargaining agreements, shop steward, business agent, and union counselor.
 
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::c. Explain the part played by four federal or state agencies in labor relations.
 
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: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.
 
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:Report:
 
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::a. How service, friendliness, hard work, and salesmanship helped build your business.
 
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::b. The benefits you and others received because you were in business.
 
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:Comparable 4-H, FFA, or Junior Achievement projects may be used for requirement 5.
 
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:6. Do ONE of the following:
 
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::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.
 
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::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.
 
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::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.
 
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''Source: 2007 Boy Scout Requirements (33215)''
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== Notes ==
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{{Merit Badge Notes}}
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{{TPF|Business}}
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== Notes ==
 
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== Help with these requirements ==
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== Requirement resources ==
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{{Merit Badge Requirement resources}}
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[http://usscouts.org/mb/worksheets/American-Business.pdf American Business Worksheet]
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*'''1a''': [http://www.dallasfed.org/educate/everyday/ev5.html Free Enterprise, the Economy, and Monetary Policy] From the Federal Reserve Bank of Dallas
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*'''1b''': [http://www.kidinfo.com/American_History/Industrial_Revolution.html The Industrial Revolution]
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*'''2d''': [http://tutor2u.net/business/gcse/finance_profit.htm What is Profit?]
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*'''2e''': [http://www.sba.gov/content/types-business-insurance Types of Business Insurances]
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*'''4a''': [http://www.snjaflcio.org/chart3.html AFL-CIO Organizational Chart]
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*'''4a'''. Graph paper to make the organizational chart is in the [[Media:{{PAGENAMEE}}.pdf|{{PAGENAME}} Workbook]].<br>
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*'''4b'''. [http://www.umbc.edu/collectivebargaining/glossary.html Glossary of Labor Relations Terms]<br>
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*'''6a''': [http://www.ecommercetimes.com/ E-Commerce Times] An online news site specifically for the e-commerce community.
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*'''6b''': [http://www.ilea.org/lcas/Tellus.html Packaging] Information for the Institute for Lifecycle Environmental Assessment
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*'''8'''. Presentation resources:<br>
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{{Public Speaking Links}}
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== External links ==
 
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== Related awards ==
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<!-- * [[other award]] requirement ## -->
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{{Professions Award Links}}
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== See also ==
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{{Merit Badge See also}}
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== External links ==
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<!-- use this format: * [http://somelink.com description] -->
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*[http://coles.kennesaw.edu/pages/sife/americanbusinessmb/ The Unofficial American Business Merit Badge Website]
*[http://coles.kennesaw.edu/pages/sife/americanbusinessmb/ The Unofficial American Business Merit Badge Website]
*[http://www.iii.org/ Insurance Information Institute]
*[http://www.iii.org/ Insurance Information Institute]
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*[http://www.thebbb.org The Council of Better Business Bureaus]
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*[http://www.better-investing.org National Association of Investors Corporation]
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*[http://www.nefe.org National Endowment for Financial Education]
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*[http://www.startsmartclubs.com Start Smart Investment Clubs]
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*[http://www.youngbiz.com YoungBiz]
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[[Category:Boy Scouts]][[Category:Merit Badges]]
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{{Merit Badge footer}}

Current revision

Resources include the American Business merit badge worksheet Adobe Acrobat PDF, links, and cross-references to related badges and awards.  ◀Prev  -  Next ▶ 

American Business merit badge
Status: Elective
Created: 1967
Replaced: Business
BSA Advancement ID: 015
Requirements revision: 2003
Latest pamphlet revision: 2008

Contents

“ 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 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.
    NOTE: 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.


The official source for the information shown in this article or section is:
Boy Scout Requirements, 2012 Edition (BSA Supply No. 34765)

The text of these requirements is locked and can only be edited by an administrator.
Please note any errors found in the above requirements on this article's Talk Page.


Notes

Worksheet A FREE workbook for American Business is available here! Adobe Acrobat PDF
with the maps, charts, links, diagrams, and checklists you need!
Or click here to print just the American Business requirements. 		meritbadge.org has PDF and DOC versions of
Boy Scout merit badge workbooks,
Webelos workbooks, and Cub Scout workbooks.
  1. Per the BSA: "You should read the merit badge pamphlet on the subject." Pamphlets (books) are at local Scout Shops and online at ScoutStuff.org.
  2. "Get a signed Merit Badge application from your Scoutmaster." An online, printable Word doc file version is available.
  3. The BSA Business Troop Program Feature offers meeting and activity plans to include American Business as one of your monthly themes.


Requirement resources


Related awards

Profession-related awards


See also

Boy Scout portal
Varsity Scout portal
Venturing portal

Merit Badge information


External links


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