American Business Merit Badge
Requirements
The following are the requirements are necessary to complete the American Business Merit Badge. By clicking on the link next to the requirement, you will be forwarded to a page with information pertaining to the requirement.
Requirement
1a. Explain 4 features of free enterprise in America. Describe the
difference between freedom and license. Tell how the scout oath and law apply
to business and free enterprise.
Requirement 1b. Describe the Industrial revolution.
Tell about the major developments that marked the start of the modern
industrial era in the United States. Talk about five people who had a
great influence on business or industry in the United States. Tell what they
did.
Requirement
2a. Visit a bank. Talk with one of the officers or staff. Chart the
organization of the bank and its relationship with other banks, businesses,and
industry.
Requirement 2b. Explain how changes in interest
rates, taxes, and government spending change the flow of money into or out of
business and industry.
Requirement 2c. Explain how a proprietorship or
partnership gets its capital. Discuss and explain four ways a corporation gets
its capital.
Requirement 2d Explain the place of profit in a
business.
Requirement 2e. Name five kinds of insurance useful
to business. Describe their purpose.
Requirement
3a Pick two or more stocks from the financial pages of the news
paper. Pretend to have bought $1000.00 worth of their stocks.
Explain how you "bought" the stocks. Tell why you decided to buy
them. Keep a weekly record for three months of your stocks' market value.
Show any dividends declared.
Requirement 3b. Write to one of the companies whose stock
you "bought." Askfor a copy of its annual report.
Requirement
4a. Draw an organizational chart of a typical central labor council.
Requirement 4b. Describe automation, union shop,
open shop, collective bargaining arguments, business agent, and union counsel.
Requirement 4c. Explain the part played by four
different federal or state agencies in labor relations.
Requirement 5. Run a small business invovling a product or service for at least 3 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 cost, income, and profit. Report:
Requirement
5a. How service, friendliness, hard work, and salesmanship helped build
your business.
Requirement 5b. The benfits you and others received
because you were in business.