2024-25 Competitive Events Guidelines

Introduction to Business Concepts

Introduction to Business Concepts provides members with the opportunity to demonstrate
knowledge around introductory competencies in business. This competitive event consists of
an objective test. It aims to inspire members to learn about the different functions of
businesses.

Event Overview
Division: High School (9th & 10th graders only)
Event Type: Individual
Event Category: Objective Test, 100-multiple choice questions (breakdown of question by
competencies below)
Objective Test Time: 50 minutes
NACE Connections: Career & Self-Development

Objective Test Competencies

• Money Management,
Banking, and Investments
• Consumerism
Test Composition
• Characteristics and 25
Organization of Business 20
• Economic Systems 15
• Right and Responsibilities of 10
Employees, Managers, 5
Owners, and Government 0
• Career Awareness
• Insurance
• Ethics
• Global (International)
Business

District/Region/Section
Check with your District/Region/Section leadership for District/Region/Section-specific
competition information.

State
Check with your State Leader for state-specific competition information.

National

Required Competition Items

Items Competitor Must Provide Items FBLA Provides
• Sharpened pencil • One piece of scratch paper per
• Fully powered device for online testing competitor
• Conference-provided nametag • Internet access
• Photo identification • Test login information (link & password)
• Attire that meets the FBLA Dress Code

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Important FBLA Documents
• Competitors should be familiar with the Competitive Events Policy & Procedures
Manual, Honor Code, Code of Conduct, and Dress Code.

Eligibility
• FBLA membership dues are paid by 11:59 pm Eastern Time on March 1 of the current
program year.
• Members may compete in an event at the National Leadership Conference (NLC) more
than once if they have not previously placed in the top 10 of that event at the NLC. If a
member places in the top 10 of an event at the NLC, they are no longer eligible to
compete in that event.
• Members must be registered for the NLC and pay the national conference registration
fee to participate in competitive events.
• Members must stay in an official FBLA hotel block to compete.
• Each state may submit four entries per event.
• Each member can only compete in one individual/team event and one chapter event
(American Enterprise Project, Community Service Project, Local Chapter Annual
Business Report, Partnership with Business Project).
• Picture identification (physical or digital: driver’s license, passport, state-issued
identification, or school-issued identification) matching the conference nametag is
required when checking in for competitive events.
• If competitors are late for their assigned objective test time, they will be allowed to
compete with a five-point penalty until such time that results are finalized, or the
accommodation would impact the fairness and integrity of the event.
• Some competitive events start in the morning before the Opening Session of NLC. The
schedules for competitive events are displayed in the local time of the NLC location.
Competitive event schedules cannot be changed.

Recognition
• The number of competitors will determine the number of winners. The maximum
number of winners for each competitive event is 10.

Event Administration
• This event is an objective test administered online at the NLC.
• No reference or study materials may be brought to the testing site.
• No calculators may be brought into the testing site; online calculators will be provided
through the testing software.
• Competitors may flag questions within the online testing platform for the Competitive
Events Committee to review before finalizing results at the NLC.

Tie Breaker
• Ties are broken by comparing the correct number of answers to 10 pre-determined
questions on the test. If a tie remains, answers to 20 pre-determined questions on the

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test will be reviewed to determine the winner. If a tie remains, the competitor who
completed the test in a shorter amount of time will place higher.

Americans with Disabilities Act (ADA)

• FBLA meets the criteria specified in the Americans with Disabilities Act for all
competitors with accommodations submitted through the conference registration
system by the registration deadline.

Penalty Points
• Competitors may be disqualified if they violate the Code of Conduct or the Honor
Code.
• Five points are deducted if competitors do not follow the Dress Code or are late to the
testing site.

Electronic Devices
• Unless a pre-approved accommodation is in place, all cell phones, smart watches, and
headphones must be turned off and put away before competition begins. Any visibility
of these devices will be considered a violation of the Honor Code.

Study Guide: Competencies and Tasks

A. Money Management, Banking, and Investments
1. Discuss the nature of monetary policy and the role of the Federal Reserve System.
2. Discuss the general methods of financing business ventures and various sources of
financing.
3. Develop, evaluate, and modify a spending/savings plan.
4. Describe the purpose of budgets and identify the steps in preparing a good budget.
5. Demonstrate proper procedures for managing a checking account (e.g., writing checks,
balancing check register, making deposits, electronic funds transfers, and debit cards).
6. Compare services provided by banks, credit unions, and other financial institutions.
7. Define the difference between fixed expenses and variable expenses.
8. Prepare and interpret financial statements such as a balance sheet and an income and
expenditure record.
9. Evaluate savings and investment options (e.g., stocks, bonds, mutual funds, real estate,
etc.) to meet short- and long-term goals.
10. Describe source of securities information.
11. Compare and contrast various sources of credit.
12. Explain the advantages and disadvantages of using credit.
13. Compute simple interest loans.
14. Explain how a good credit record can be established and maintained.
B. Consumerism
1. List sources of consumer information.
2. Identify rights and responsibilities of consumers and list ways to protect consumer
rights.
3. Explain the function of organizations such as the Better Business Bureau and the
Federal Trade Commission.
4. Analyze the characteristics, motivations, and behaviors of consumers.
5. Interpret financial elements to determine impact on consumer behavior.

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6. Describe the use of advertisements and other marketing strategies.
7. Explain the importance of comparative shopping.
8. Describe the difference between a promotional and a clearance sale.
C. Characteristics and Organization of Business
1. Define the main goals and functions of a business.
2. Explain the difference between gross profit and net profit.
3. List and describe the steps in organizing a business.
4. Define the main features, advantages, and disadvantages of various types of business
ownership.
5. Describe the major functions of business and their relationship to one another.
6. Identify current business trends to recognize changes needed in business operations.
7. Develop a business plan that facilitates growth and business success.
D. Economic Systems
1. Define key economic terms.
2. Analyze the role of supply and demand in the economy.
3. Identify major components of the free enterprise system.
4. Explain the economic role played by business in satisfying customer needs and wants
in a free enterprise system.
5. Recognize effects of competition on businesses, consumers, and society.
6. Explain characteristics, including strengths and weaknesses of various types of
economic systems (e.g., traditional, communist, socialist, etc.).
7. Identify factors affecting business profit.
8. Explain the importance of productivity and how finances, labor, and technology affect
productivity.
9. Identify economic trends/indicators to measure economic conditions.
10. Examine current events (regional, national, and international) to determine their
impact on business.
11. Analyze the economic impact of e-commerce.
E. Rights and Responsibilities of Employees, Managers, Owners, and Government
1. Identify ways for businesses to demonstrate their social responsibility.
2. Identify ways to improve employee morale and customer satisfaction.
3. Discuss procedures and consequences when on-the-job rules and laws are not
followed.
4. Identify basic principles of organized labor and describe its influence on government
and business.
5. Explain the impact of equal employment opportunity and affirmative action on
business.
6. Recognize bias, vested interest, stereotyping, and the manipulation and misuse of
information
7. Determine the relationship between government and business to ascertain
government’s role in a market economy.
8. Analyze impact of government regulation and rights on business.
F. Career Awareness
1. Identify personal qualities and characters and match to business careers.
2. Identify factors affecting the future of the workforce.
3. Identify sources of information about careers and job leads.
4. Write a letter of application.
5. Prepare a resume or personal data sheet.

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6. Demonstrate how to properly fill out a job application form.
7. Implement job-interview strategies.
G. Insurance
1. Identify reasons for buying personal and business insurance.
2. Distinguish among the various types of insurance (e.g., home, life, medical automobile,
liability, disability, etc.).
3. Compare basic types of insurance policies to determine appropriate use.
4. Implement safety, health, and environmental controls to minimize loss and risk.
H. Ethics
1. Identify current and emerging ethical issues in the global business environment and
the consequences of unethical business dealings.
2. Exhibit legal and ethical behaviors when using information and technology and discuss
consequences of misuse.
3. Apply a professional code of ethics to a workplace problem or issue.
4. Apply ethics and government regulations to protect the business.
5. Explain the relationship of business ethics to product/service management.
6. Examine the role of ethics and social responsibility on decision making.
I. Global (International) Business
1. Explain the difference between foreign trade and domestic trade.
2. Describe some of the ways in which social, cultural, economic, legal, and political
differences among nations affect international business.
3. Discuss how current world events impact international business.
4. Recognize the impact of international trade on business.
5. Demonstrate an understanding of global competition.
6. Describe how tariffs, quotas, and embargoes affect world trade.

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