Req 5 — Researching a Business
5.
Choose a business and research how it applies to each of the primary areas of business (accounting, finance, economics, marketing, and management). Share what you have learned with your counselor.
Your Chance to Be a Business Analyst
This requirement brings everything together. You will pick a real business and examine it through the lens of the five primary areas you learned about in Req 1c — Areas of Business. Think of yourself as a business analyst — someone whose job is to understand how a company operates and explain it clearly.
Choosing a Business
Pick a business you can actually learn about. Here are some good options:
- A local business you can visit — a restaurant, auto shop, retail store, or service company. You might even be able to interview the owner or manager.
- A well-known public company — companies like Apple, Nike, Costco, or Starbucks publish annual reports with detailed financial and operational information.
- A business you or your family uses regularly — understanding a business you already know makes the research more personal and interesting.
What to Research: The Five Areas
For each of the five primary areas, try to answer the key questions below. You do not need to know every detail — your counselor is looking for a thoughtful understanding of how each area applies.
1. Accounting
- How does the business track its income and expenses?
- Does it use accounting software, hire an accountant, or do it by hand?
- How often does it review its financial records?
- How does accurate accounting help this particular business?
2. Finance
- How did the business get the money to start? (Personal savings, loans, investors?)
- How does it fund day-to-day operations?
- Has it ever borrowed money to expand or buy equipment?
- How does it plan for the financial future?
3. Economics
- Who are its competitors? How does competition affect its prices and services?
- How does supply and demand affect what it sells?
- Is the business affected by economic trends like inflation, interest rates, or local employment levels?
- Does it serve a local, national, or global market?
4. Marketing
- How does the business attract customers? (Advertising, social media, word of mouth, location?)
- Does it have a brand identity — a logo, slogan, or visual style?
- How does it set prices — based on cost, competition, or customer perception?
- Does it use online marketing, in-person marketing, or both?
5. Management
- Who runs the business? Is there one owner, a management team, or a corporate structure?
- How many employees does it have, and how are they organized?
- How does the business make important decisions?
- What challenges does management face?
How to Do Your Research
Here are some practical ways to gather information:
For Local Businesses
- Visit the business and observe how it operates.
- Talk to the owner or manager. Prepare a few questions in advance. Most business owners enjoy talking about their work.
- Look at their marketing — their website, social media, signs, menus, or brochures.
- Check online reviews to see what customers think.
For Public Companies
- Read the annual report. Public companies publish yearly reports that include financial statements, management discussions, and future plans. Search for “[company name] annual report” online.
- Visit the company’s website. Look at the “About Us” and “Investor Relations” sections.
- Read news articles about the company’s recent decisions, challenges, and strategies.
Research Organizer
Use this framework to organize your findings
- Business name and what it does: Describe the company in 1–2 sentences
- Accounting: How it tracks money and manages financial records
- Finance: Where its capital comes from and how it funds operations
- Economics: Market conditions, competitors, and economic forces it faces
- Marketing: How it reaches and attracts customers
- Management: Who leads it, how decisions are made, and how employees are organized
Your research skills are ready. For the final requirement, you will explore business careers or interview a business leader.