Business Management

for the IB Diploma

Website by Paul Hoang

Updated 20 September 2021

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  • Getting started
    • Resources for IB Business Management
    • Updates & Notices
  • Unit 1
    • 1.1 Introduction to business management
      • The role of businesses in combining resources to create goods & services
      • Business functions & their roles
      • Primary, secondary, tertiary & quaternary sectors
      • The role of entrepreneurship & intrapreneurship
      • Reasons for starting up a business
      • Common steps in the process of starting up a business
      • Problems that a new business may face
      • The elements of a business plan
      • 1.1 Multiple choice questions
      • 1.1 Comprehension questions
      • 1.1 Smart quiz questions
      • 1.1 Introduction to business management - question bank
      • Glossary: Introduction to business management
    • 1.2 Types of organizations
      • The private and the public sectors
      • Types of for-profit (commercial) organizations
      • Types of for-profit social enterprises
      • Types of non-profit social enterprises
      • 1.2 Comprehension questions
      • 1.2 Smart quiz questions
      • 1.2 Types of organizations - Question bank
      • Glossary
    • 1.3 Organizational objectives
      • Vision and mission statements
      • Aims, objectives, strategies & tactics
      • Objectives and change
      • Ethical objectives & CSR
      • SWOT analysis
      • The Ansoff matrix
      • 1.3 Comprehension questions
      • 1.3 Smart quiz questions
      • 1.3 Organizational objectives - Question bank
      • Glossary
    • 1.4 Stakeholders
      • The interests of stakeholders
      • Stakeholder conflict
      • 1.4 Comprehension Questions
      • 1.4 Smart quiz questions
      • 1.4 Stakeholders - Question bank
      • Glossary - Stakeholders
    • 1.5 External environment
      • STEEPLE analysis of a given organization
      • Consequences of a change in any of the STEEPLE factors
      • 1.5 Smart quiz questions
      • 1.5 External environment - Question bank
      • Glossary: External environment
    • 1.6 Growth and evolution
      • Economies and diseconomies of scale
      • The merits of small vs large organizations
      • The difference between internal & external growth
      • Methods of external growth
      • Role & impact of globalization on growth & evolution of businesses
      • Reasons for the growth of multinational companies
      • The impact of MNCs on host countries
      • MNCs Quiz
      • Video documentary: McDonald's
      • Video documentary: LEGO
      • 1.6 Smart quiz questions
      • 1.6 Growth and evolution - Question bank
      • Glossary: Growth and evolution
    • 1.7 Organizational planning tools (HL only)
      • Fishbone diagram
      • Decision trees
      • Force field analysis
      • Gantt chart
      • 1.7 Smart quiz questions
      • 1.7 Organizational planning tools - Question bank
      • Glossary: Organizational planning tools (HL)
  • Unit 2
    • 2.1 Functions & evolution of HRM
      • Human resource planning (workforce planning)
      • Labour turnover
      • Internal & external factors that influence HR planning
      • Common steps in the recruitment process
      • Types of training
      • Types of appraisal
      • Common steps in the processes of dismissal & redundancy
      • Work patterns, practices & preferences
      • Outsourcing, offshoring & re-shoring as HR strategies
      • Innovation, ethics, culture & HR practices & strategies
      • 2.1 Functions & evolution of HRM - Question bank
      • 2.1 Smart quiz questions
      • Glossary
    • 2.2 Organizational structure
      • Terminology for understanding organizational structures
      • Types of organization charts
      • Changes in organizational structures
      • How cultural differences & innovation may impact on communication
      • 2.2 Smart quiz questions
      • 2.2 Organizational structure - Question bank
      • Glossary: Organizational structure
    • 2.3 Leadership and management
      • The key functions of management
      • Management versus leadership
      • Leadership styles
      • The influence of ethics & culture on leadership & management
      • Leadership and management - Question bank
      • 2.3 Smart quiz questions
      • Glossary: Leadership & Management
    • 2.4 Motivation
      • Motivation theories
      • Types of financial rewards
      • Types of non-financial rewards
      • Financial & non-financial rewards: impact on job satisfaction, motivation & productivity in different cultures
      • 2.4 Motivation - Question bank
      • Glossary: Motivation
    • 2.5 Organizational culture (HL only)
      • Organizational culture
      • Elements of organizational culture
      • Types of organizational culture
      • The reasons for, and consequences of, cultural clashes
      • How individuals influence organizational culture & how organizational culture influences individuals
      • 2.5 Organizational culture - Question bank
      • Glossary: Organizational culture
      • Lesson idea - Expressing your culture in songs
      • Lesson idea - German vs China Culture
      • Lesson idea - Local Knowledge and Culture
      • Lesson idea - Your School Culture
    • 2.6 Industrial/employee relations (HL only)
      • Employee & employer representatives
      • Methods used by employees & employers
      • Sources of conflict in the workplace
      • Approaches to conflict resolution
      • Reasons for resistance to change in the workplace
      • HR strategies for reducing the impact of change & resistance to change
      • Innovation, ethical & cultural differences - influence on relations in an organization
      • 2.6 Industrial/employee relations - Question bank
      • Glossary: Industrial/employee relations
  • Unit 3
    • 3.1 Sources of finance
      • Role of finance for businesses
      • Internal sources of finance
      • External sources of finance
      • Short, medium & long-term finance
      • The appropriateness, advantages & disadvantages of sources of finance for a given situation
      • 3.1 Sources of finance - Question bank
      • Glossary: Sources of finance
    • 3.2 Costs and revenues
      • Types of costs
      • Total revenue & Revenue streams
      • Worksheet - costs & revenues
      • 3.2 Costs and revenues - Question bank
      • Glossary: Costs & revenues
    • 3.3 Break-even analysis
      • Contribution analysis
      • Aspects of break-even analysis
      • Changes in price and costs
      • Benefits & limitations of break-even analysis
      • 3.3 Break-even analysis - question bank
      • Glossary: Break-even analysis
    • 3.4 Final accounts
      • The purpose of accounts to different stakeholders
      • The principles & ethics of accounting practice
      • Profit & loss account
      • Balance sheets
      • Different types of intangible assets
      • Methods of depreciation
      • 3.4 Final accounts - Question bank
      • Glossary: Final accounts
    • 3.5 Profitability and liquidity ratio analysis
      • Profitability and liquidity ratios
      • Liquidity ratios
      • 3.5 Profitability and liquidity ratio analysis - question bank
      • Glossary: Profitability and liquidity ratio analysis
    • 3.6 Efficiency ratio analysis (HL only)
      • Efficiency ratios
      • 3.6 Efficiency ratio analysis (HL only) - Question bank
      • Glossary: Efficiency ratios
    • 3.7 Cash flow
      • The difference between profit & cash flow
      • The working capital cycle
      • Cash flow forecasts
      • Relationship between investment, profit & cash flow
      • Strategies for dealing with cash flow problems
      • 3.7 Cash flow - Question bank
      • Glossary: Cash flow
    • 3.8 Investment appraisal
      • Payback period & Average rate of return
      • Net present value (NPV) (HL)
      • 3.8 Investment appraisal (some HL only) - Question bank
      • Glossary: Investment appraisal
    • 3.9 Budgets (HL only)
      • The importance of budgets for organizations
      • The difference between cost & profit centres
      • The roles of cost & profit centres
      • Variances (variance analysis)
      • The role of budgets & variances in strategic planning
      • 3.9 Budgets (HL only) - Question bank
      • 3.9 Budgets (HL Only) Glossary
  • Unit 4
    • 4.1 The role of marketing
      • Marketing & its relationship with other business functions
      • Differences between marketing of goods & services
      • Market orientation vs product orientation
      • Commercial marketing & social marketing
      • Characteristics of the market in which an organization operates
      • Market share
      • The importance of market share & market leadership
      • Marketing objectives of for-profit & non-profit organizations
      • Marketing strategies & changes in customer preferences
      • How innovation, ethics & culture influence marketing
      • 4.1 The role of marketing - question bank
      • Glossary: The role of marketing
    • 4.2 Marketing planning
      • The elements of a marketing plan
      • The role of marketing planning
      • The 4Ps of the marketing mix
      • Marketing mix for a particular product or business
      • The effectiveness of a marketing mix & marketing objectives
      • Target markets & market segments
      • Difference between niche & mass market
      • How organizations target and segment their market
      • Product position map/perception map
      • Unique selling point/proposition (USP)
      • How organizations differentiate themselves
      • 4.2 Marketing planning - Question bank
      • Glossary: Marketing planning
    • 4.3 Sales forecasting (HL only)
      • Four-part moving average
      • Benefits & limitations of sales forecasting
      • 4.3 Sales forecasting (HL only) - Question bank
      • Glossary: Sales forecasting
    • 4.4 Market research
      • Why & how organizations carry out market research
      • Methods/techniques of primary market research
      • Methods/techniques of secondary market research
      • Ethical considerations of market research
      • Qualitative & quantitative research
      • Methods of sampling
      • Results from data collection
      • 4.4 Market research - question bank
      • Glossary: Market research
    • 4.5 The four Ps
      • Product
      • Price
      • Promotion
      • Place
      • 4.5 The four Ps - Question bank
    • 4.6 The extended marketing mix (7 Ps) (HL)
      • People in the marketing mix (HL Only)
      • Process in the marketing mix (HL Only)
      • Physical evidence in the marketing (HL Only)
      • 4.6 The 7 Ps - Question bank
      • Glossary: The extended marketing mix (HL)
    • 4.7 International marketing (HL only)
      • Methods of entry into international markets
      • Opportunities & threats posed by entry into international markets
      • Strategic & operational implications of international marketing
      • The role of cultural differences in international marketing
      • Implications of globalization on international marketing
      • 4.7 International marketing (HL only) - Question bank
      • Glossary: International Marketing (HL)
    • 4.8 E-commerce
      • Features of e-commerce (AO1)
      • Effects of changing technology & e-commerce on the marketing mix
      • Types of e-commerce
      • The benefits & costs of e-commerce
      • Video documentary - Costco
      • 4.8 E-commerce - Question bank
      • Glossary: E-commerce
  • Unit 5
    • 5.1 The role of operations management
      • Operations management & other business functions
      • Operations management in organizations
      • Operations management strategies & practices for sustainability
      • 5.1 The role of operations management - question bank
      • Glossary
    • 5.2 Production methods
      • Job, batch, flow & cell production
      • Video documentaries (How It's Made)
      • 5.2 Production methods - Question bank
      • Glossary
    • 5.3 Lean production & quality management (HL)
      • Features of lean production
      • Methods of lean production
      • Features of cradle to cradle design & manufacturing
      • Features of quality control & quality assurance
      • Methods of managing quality
      • The impact of lean production & TQM
      • The importance of national & international quality standards
      • 5.3 Lean production & quality management (HL) - question bank
      • Glossary: Lean Production and quality management
    • 5.4 Location
      • Reasons for a specific location of production
      • Ways of re-organizing production (nationally & internationally)
      • 5.4 Location - Question bank
      • Glossary
    • 5.5 Production planning (HL)
      • The supply chain process
      • The difference between JIT & JIC
      • Stock control charts
      • Capacity utilization rate
      • Productivity rate
      • Cost to buy & Cost to make
      • 5.5 Production planning (HL) - Question bank
      • Glossary: Production planning
    • 5.6 Research & development (HL)
      • The importance of Research & Development
      • The importance of developing products that address customers’ unmet needs
      • Types of innovation
      • The difference between adaptive creativity & innovative creativity
      • Change, culture and ethical considerations (AO3)
      • 5.6 Research & Development (HL) - question bank
      • Glossary: Research & Development
    • 5.7 Crisis management & contingency planning (HL)
      • The difference between crisis management and contingency planning
      • Factors that affect effective crisis management
      • Advantages & disadvantages of contingency planning
      • Case studies in crisis management
      • 5.7 Crisis management & contingency planning (HL) - question bank
      • Glossary
  • CUEGIS
    • Introduction to concept based learning
    • The 6 CUEGIS concepts
      • Change
      • Culture
      • Ethics
      • Globalization
      • Innovation
      • Strategy
    • Connecting the CUEGIS concepts
    • The CUEGIS essay
      • Planning your CUEGIS essay
      • CUEGIS essay framework
      • Paper 2 Section C Questions
    • The assessment criteria
    • Sample CUEGIS essays
    • Top tips for using Case Studies
    • CUEGIS Poster
    • Video documentaries
  • The IA
    • HL IA
      • HL IA Quiz
      • Format of the HL IA
      • Primary & secondary research sources
      • Tools, theories & techniques
      • What makes a good HL IA question?
      • Sample titles - HL IA
      • Primary research - Top tips for HL IA
      • Understanding the HL IA Assessment Criteria
      • Research proposal presentations
      • Roles and responsibilities of the teacher
      • Academic integrity & the HL IA
      • Advice on the word count (limit)
      • Top 10 tips for the HL IA
      • HL IA - Student Checklist
      • HL IA Feedback & Student Checklist
      • Exemplar HL Internal Assessment
      • IA HL Poster
    • SL IA
      • SL IA Quiz
      • SL IA - 20 Sample Titles
      • FAQ about the SL IA
      • Tools, theories & techniques for the IA
      • Understanding the SL IA Assessment Criteria
      • Exemplar SL Internal Assessment
      • Roles and responsibilities of the teacher
      • Academic Integrity & the SL IA
      • Citation & Referencing - Getting it right
      • By the numbers - SL IA Advice
      • SL IA Checklist
      • IA SL Poster
  • Exams
    • Command Terms
    • Glossary of key terms
    • Flashcards - Revision
      • Flashcards - Revision (Unit 1)
      • Flashcards - Revision (Unit 2)
      • Flashcards - Revision (Unit 3)
      • Flashcards - Revision (Unit 4)
      • Flashcards - Revision (Unit 5)
    • Formulae Quiz
    • Paper 1 Pre-release case study
      • Nov 2021 (Megamin Mining)
      • May 2021 (Multi Marketing)
      • Nov 2020 (Ducal Aspirateurs)
      • May 2020 (P&S Trawlers)
    • Paper 2 Exam Practice Questions
      • Exam Practice Question 1 - IKEA
      • Exam Practice Question 2 - Pfizer
      • Exam Practice Question 3 - Thames Valley Winery
      • Exam Practice Question 4 - Priyanka Chopra
      • Exam Practice Question 5 - Glori Fried Chicken
    • Exam papers - Topic tracker
      • Exam questions - Unit 1
      • Exam questions - Unit 2
      • Exam questions - Unit 3
      • Exam questions - Unit 4
      • Exam questions - Unit 5
    • Essay frameworks for P1 & P2
    • Exam & Study tips (resources)
    • Revision & Exams - Top tips
    • Tips from an alumnus - Getting a Level 7 in BM
  • The Core
    • CAS & BM
    • The EE
      • The BM Extended Essay
      • EE Planning form
      • Managing the EE process
      • Top 10 tips for the BM EE
      • 45 ‘A’ Grade BM EE Research Questions
      • Tools, techniques & theories for the EE
      • Understanding the assessment criteria
      • Reflections and engagement in the EE
      • Top 10 Tips for completing the RPPF
      • Academic Integrity & the EE
      • Citation and Referencing
      • EE Checklist
      • Extended Essay posters
    • TOK & BM
  • Misc
    • Team building exercises
    • Introduction to the BM course
    • How well do you know the BM course?
      • BM Quiz (answers)
    • InThinking Question Bank
    • Glossary of key terms - index
    • Revision - Key terms
      • Unit 1 Key terms - Business organization & environment
      • Unit 2 Key terms - Human Resource Management
      • Unit 3 Key terms - Finance & accounts
      • Unit 4 Key terms - Marketing
      • Unit 5 Key terms - Operations management
    • Glossary of IB terms
    • Entrepreneurs & Leaders Quiz
    • Approaches to Teaching & Learning
    • Professional reading & resources for IB teachers
    • Tolerance & the IB Student
  • Distance Learning
    • Distance Learning resources
    • Financial literacy simulation game
    • Internal Assessment (SL & HL)
    • Key Terms Quiz
    • Question Bank - Dynamic Quizzes
    • Scavenger Hunt - Intro to Business Management
    • Scavenger Hunt - Multiple Choice Q&A
  • New syllabus 2022
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