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3.7 Business Fundamentals
Knowledge of basic business principles, trends, and economics.
- 3.7.1 Economic system as a framework for decision-making
- Quantify the costs and benefits of an information technology solution for a given organization.
- Assess patterns of technologies by examining their effects on parts of an organization, as well as the effects on the organization's interactions with customers, suppliers, distributors, and workers.
- Explain the relationship between individual performance and the success of the organization.
- 3.7.2 Business ethics
- Act in the best interests of the company, your co-workers, your community, other stakeholders, and the environment.
- Legal and financial
- Comply with the letter and spirit of applicable laws.
- Use company property legitimately, minimizing loss and waste; report loss, waste, or theft of company property to appropriate personnel.
- Maintain privacy and confidentiality of company and organization information, as well as that of customers and co-workers.
- Comply with intellectual property laws.
- Environmental, health, and safety
- Hold paramount the safety, health, and welfare of the public, stakeholders, clients, and internal employees.
- Maintain a healthful and safe environment and report any violations or discrepancies.
- Ensure equipment and systems are designed to be environmentally friendly and strive to continually minimize the resulting carbon footprint.
- Social
- Emphasize quality, customer satisfaction, and fair pricing.
- Work with stakeholders, customers, clients, and others in good faith, with transparency, equity, and integrity.
- Recognize and resist temptations to compete unfairly.
- 3.7.3 Marketing
- Demonstrate an understanding of market trends, company's position in the market place, and defined market segments.
- Understand position of product/service in relation to market demand.
- Uphold the company and product brand through building and maintaining customer relations.
- Understand and integrate internal or external customer demands and needs into the product.
- 3.7.4 Entrepreneurship
- Demonstrate skills in leadership and team building, including enlisting others to work toward a shared vision.
- Discuss strategies for managing growth, including using replicable processes to create enterprises that are sustainable.
- 3.7.5 Geospatial business fundamentals
- Demonstrate awareness of the various professions, agencies, and firms that compose the geospatial technology industry.
- Understand the respective roles of the private sector, universities, non-profit organizations, and government agencies in the geospatial market.
- Make a business case for a given organization’s investment in geospatial technology, including value added and risks minimized.
- Recognize ethical implications of bidding and other business practices in geospatial business contexts and make reasoned decisions about appropriate actions.