Business Management SL/HL

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IB Business Management tutoring for the entire syllabus. Our tutors provide notes guiding you through past papers for Paper 1 & 2 or can help with your IA.

Tutor: Chiara Ferrari

Description

Tutor: 

Chiara Ferrari

1) Business Management in the IBDP: 

Business management is a rigorous, challenging and dynamic discipline in the individuals and societies subject group. The role of businesses, as distinct from other organisations and actors in a society, is to produce and sell goods and services that meet human needs and wants by organising resources. Profit-making, risk-taking and operating in a competitive environment characterise most business organisations.

Although business management shares many skills and areas of knowledge with other humanities and social sciences, it is distinct in a number of ways. For example business management is the study of decision-making within an organisation, whereas economics is the study of scarcity and resource allocation, both on micro and macro levels. Business management examines the use of information technology in business contexts, whereas information technology in a global society (ITGS) critically examines its impact on other fields, such as health and government.

Business management studies business functions, management processes and decision-making in contemporary contexts of strategic uncertainty. It examines how business decisions are influenced by factors internal and external to an organisation, and how these decisions impact upon its stakeholders, both internally and externally. Business management also explores how individuals and groups interact within an organisation, how they may be successfully managed and how they can ethically optimize the use of resources in a world with increasing scarcity and concern for sustainability. Business management is, therefore, perfectly placed within the individuals and societies subject area: aiming to develop in students an appreciation both for our individuality and our collective purposes.

Business Management Aims:

The aims of the business management course at HL and SL are to:

    1. encourage a holistic view of the world of business
    2. empower students to think critically and strategically about individual and organisational behaviour
    3. promote the importance of exploring business issues from different cultural perspectives
    4. enable the student to appreciate the nature and significance of change in a local, regional and global context
    5. promote awareness of the importance of environmental, social and ethical factors in the actions of individuals and organisations
    6. develop an understanding of the importance of innovation in a business environment.

2) Syllabus Outline: 

Unit 1: Business Organisation and Environment 
    • 1.1 Introduction to business management
    • 1.2 Types of organisations
    • 1.3 Organisational objectives
    • 1.4 Stakeholders
    • 1.5 External environment
    • 1.6 Growth and evolution
    • 1.7 Organisational planning tools (HL only)
Unit 2: Human Resource Management  
    • 2.1 Functions and evolution of human resource management
    • 2.2 Organizational structure
    • 2.3 Leadership and management
    • 2.4 Motivation
    • 2.5 Organizational (corporate) culture (HL only)
    • 2.6 Industrial/employee relations (HL only)
Unit 3: Finance and Accounts 
    • 3.1 Sources of finance
    • 3.2 Costs and revenues
    • 3.3 Break-even analysis
    • 3.4 Final accounts (some HL only)
    • 3.5 Profitability and liquidity ratio analysis
    • 3.6 Efficiency ratio analysis (HL only)
    • 3.7 Cash flow
    • 3.8 Investment appraisal (some HL only)
    • 3.9 Budgets (HL only
Unit 4: Marketing 
    • 4.1 The role of marketing
    • 4.2 Marketing planning (including introduction to the four Ps)
    • 4.3 Sales forecasting (HL only)
    • 4.4 Market research
    • 4.5 The four Ps (product, price, promotion, place)
    • 4.6 The extended marketing mix of seven Ps (HL only)
    • 4.7 International marketing (HL only)
    • 4.8 E-commerce
Unit 5: Operations Management  
    • 5.1 The role of operations management
    • 5.2 Production methods
    • 5.3 Lean production and quality management (HL only)
    • 5.4 Location 5.5 Production planning (HL only)
    • 5.6 Research and development (HL only)
    • 5.7 Crisis management and contingency planning (HL only)
Unit 6: Internal Assessment: Written Commentary  

3) Assessment Outline: 

SL: 

    • Paper 1: Case Study linked to Units 1-5 (75 minutes)
    • Paper 2: Quantitative and Extended Response questions linked to Units 1-5 (105 minutes)
    • Internal Assessment: Written Commentary

HL 

    • Paper 1: Case Study linked to Units 1-5 including HL extension (135 minutes)
    • Paper 2: Quantitative and Extended Response questions linked to Units 1-5 including HL extension (135 minutes)
    • Internal Assessment: Written Commentary

For more information check out the: IB Business Management Guide

Image source: https://londonblog.tfl.gov.uk/2021/08/11/londons-best-areas-to-visit/

Additional information

Hours of Tutoring

1, 5, 10, 20

Level

SL, HL

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