As a beekeeper, it is very important to understand the life cycle of the honey bee. You do not need to know the exact scientific details, but knowing the basics is essential for the everyday management of your bees – so that you can tell if the bees are healthy and the colony strong, and if not what is wrong and what intervention is needed.
Here is a great video from ScienceOnline which explains really clearly about the life cycle of the honey bee, and has some fascinating close up shots of the bees at work.