Business Studies - Business & Management IB

 

 

 

IB Business and Managment:

Business and management is a rigorous and dynamic discipline that examines business decision-making processes and how these decisions impact on and are affected by internal and external environments. It is the study of both the way in which individuals and groups interact in an organization and of the transformation of resources. It is, therefore, perfectly placed within the group 3 subject area.

The Diploma Programme business and management course is designed to develop an understanding of business theory, as well as an ability to apply business principles, practices and skills. The application of tools and techniques of analysis facilitates an appreciation of complex business activities. The course considers the diverse range of business organizations and activities and the cultural and economic context in which business operates. Emphasis is placed on strategic decision-making and the day-to-day business functions of marketing, production, human resource management and finance. Links between the topics are central to the course, and this integration promotes a holistic overview of business activity.

The business and management course aims to help students understand the implications of business activity in a global market. It is designed to give students an international perspective of business and to promote their appreciation of cultural diversity through the study of topics like international marketing, human resource management, growth and business strategy.

The ideals of international cooperation and responsible citizenship are at the heart of Diploma Programme business and management. The course encourages the appreciation of ethical concerns and issues of social responsibility in the global business environment. Students should be able to make sense of the forces and circumstances that drive and restrain change in an interdependent and multicultural world. The business and management course will contribute to students’ development as critical and effective participants in local and world affairs.

 

 

Structure of IB Business and Management course Years 12 & 13 2015

*The whole course is covered within the Course book provided to students at the start of the course.

Unit

Modules within each Unit

Further explanation of the Units/Modules

1 – Business Organizations and Management

Most Modules are SL & HL unless stated.

Studied in: Y12

1.1 – Introduction to Business Management

1.2 – Types of organizations

1.3 – Organizational objectives

1.4 - Stakeholders

1.5 – External environment

1.6 – Growth and evolution

1.7 – Organizational Planning tools HL

What businesses are and what roles and functions they perform, and how they fit with and operate within the economic and political environment.  The different types of organization that operate in our societies. Why people start businesses, how to identify business opportunities and examine possible problems that are faced by start-ups.  The aims and objectives of different organizations, both short-term and long-term, and tactical and strategic decisions. Ethical objectives and corporate social responsibility is examined.  Who the main stakeholders (internal and external) in different businesses are, and how conflict may arise between different groups of stakeholders as well as methods for resolving conflict.  The environment that businesses operate in, including the social, political, legal, ethical, and technological opportunities to exploit and threats for organizations to confront.  The range of organizational planning tools that are available to businesses to help managers analyze their operations and inform decision-making.  How businesses grow, develop and evolve; and, in fact, whether it is necessarily a good thing to pursue growth for growth's sake.  How businesses must face change and manage change successfully or get left behind.  The growing importance and influence of  globalization on the business world and the general social milieu of the modern corporate world

2 – Human Resources

Most Modules are SL & HL unless stated.

Studied in: Y13

2.1 – Functions & evolution of Human Resource Management

2.2 – Organizational structure

2.3 – Leadership and Management.

2.4 – Motivation.

2.5 – Corporate culture HL

2.6 - Employee/employer relations HL

Human Resource Management (HRM) refers to the management function of using and developing people within a business in order to meet the objectives of the organization. This will entail interrelated roles, including:

Human resource (workforce) planning, Recruitment, selection and induction of new employees, Training and development of staff, Performance management and performance appraisals, Promotion and relocation of staff, Reviewing remuneration packages, Disciplinary and grievance procedures, Looking after the welfare of employees.

3 – Accounts and Finance

Most Modules are SL & HL unless stated.

Studied in: Y12

3.1 – Sources of finance.

3.2 – Cost and revenues

3.3 – Break-even analysis

3.4 – Final Accounts some HL

3.5 – Profitability and liquidity ration analysis

3.6 – Efficiency ratio analysis HL

3.7 - Cash flow

3.8 – Investment appraisal some HL

3.9 – Budgets HL

The IB Business and Management course Accounts and Finance topic aims to give the student a good overview of: The need for finance in business and how finances can be sourced both internally and externally, from a variety of different short, medium, and long-term sources.  The different ways investments can be analysed and judged, including: pay back periods, accounting rates of return, discounted cash flows and net present value, besides other qualitative considerations.  The importance of working capital and the difference between cash and profit, examining cash flow forecasts and cash flow problems, as well as ways to deal with liquidity problems

Why it is important for businesses to set and monitor budgets, and examine budget variances.  Final accounts, including trading and profit and loss accounts, balance sheets, methods of calculating depreciation of assets and the different ways of valuing stock.  The different types of ratios that are available to give an indication of a firm's financial health, including: profitability, liquidity, efficiency and gearing ratios.

 

4 – Marketing

Most Modules are SL & HL unless stated.

Studied in: Y12

4.1 – The role of Marketing

4.2 – Marketing planning

4.3 – Sales forecasting HL

4.4 – Market research

4.5 – The four P’s

4.6 – The Seven P’s HL

4.7 – International Marketing HL

4.8 – E-Commerce

Marketing exists to address people's needs and wants. It is all about making customers want to buy the products of a business rather than those of   rival businesses. It therefore looks at the reasons behind people's decisions, because ultimately marketing must serve to meet the needs and wants of a customer - essential if a business is aiming at making a profit.

5 – Operations Management

Most Modules are SL & HL unless stated.

Studied in: Y13

5.1 –The Role of Operations Management

5.2 – Production Methods

5.3 – Lean production and quality management HL

5.4 – Location.

5.5 – Production planning HL

5.6 – Research and development HL

5.7 – Crisis management and contingency planning HL

Operations management is concerned with supervising, designing and controlling the procedures of the production process. It is closely involved in all aspects of the production process which is why the term operations management is used interchangeably with that of 'production'. In addition, operations management is involved in the redesign of the business operations that have as their centre of focus, the production of goods and/or the provision of services. Operations management is concerned with the responsibility of guaranteeing that business operations are efficient in that the processes are using as few resources as needed, and are effective in terms of meeting customer requirements. Finally, operations management is concerned with managing the process that converts inputs (in the forms of materials, labour, and energy) into outputs (in the forms of goods and/or services).  

 

*There is overlap in some Units/modules and from Year 12/13.

* The IA is started in Y12 and Completed in Y13, which is worth 25% of the final grade.

* There are two exams for both SL & HL and an IA 

 

 

 iGCSE Business Studies

Cambridge IGCSE Business Studies is accepted by universities and employers as proof of an understandingof business concepts and techniques across a range of different types of businesses. Successful Cambridge IGCSE Business Studies students gain lifelong skills, including:

• Understanding different forms of business organisations, the environments in which businesses operate

and business functions such as marketing, operations and finance;

• An appreciation of the critical role of people in business success;

• Confidence to calculate and interpret business data;

• Communication skills including the need to support arguments with reasons;

• Ability to analyse business situations and reach decisions or judgements.

The syllabus provides both a foundation for further study at Cambridge International A Level and an ideal preparation for the world of work.

 

 

 


Students are expected to keep up with current affairs (news and the Economist).  Here are some interesting articles that will also help with revision or IA's.

1) CSR (Ethics) www.independent.co.uk/news/morrisons-vows-to-donate-all-unsold-food-following-public-outcry

Business resources available to all students