IB Business & Management
What is Business & Management at IB
What happens in the world of business directly impacts governments and individuals. We are still dealing with the fallout from the Financial Crisis of 2008 (which started in the USA), which led to the European Crisis where countries and not businesses/banks were on the verge of bankruptcy. We study the inter-connective nature of global businesses and TNC’s. We examine the issues of ethics verves profit/shareholder.Business and related subjects (such as the ‘FAME’ group – finance, accounting, management and economics) are among the most popular fields of study at universities worldwide, particularly at graduate level. Business graduates are in high demand worldwide and this course provides you with excellent foundations towards an undergraduate Degree. Business touches on pretty much every aspect of modern human society, future careers with a business degree are diverse and often highly paid.
If you have not studies Business Studies at GCSE before it does not matter. However, a ‘C’ in Maths would benefit you greatly in this course. As long as you have a healthy interest in current affairs, politics and economics that will be enough.
Course content - H/L Business & Management
The higher level sections are shown in the previous table as HL.
Course Content – S/L Business & Management
Topic One Business Organisation and Environment: We study: The nature of business activity, types of legal business organisations, organisational objectives, Stakeholder groups, External environment, Organisational planning tools, Growth and evolution of businesses, Change and management and Globalisation.
Topic Two Human Resource Management:We study: Human Resource planning, Organisational structure, Communication, Leadership and management, Motivation, Organisational and corporate cultures, Employer and employee relations and Crisis management and contingency planning.
Topic Three Accounts and Finance: We study: Sources of finance, Investment appraisal, Working Capital, Budgeting, Financial accounts and Ratio analysis.
Topic Four Marketing:We study: The role of marketing, Marketing planning, Product, Price, Place/distribution, Promotion, Place, International marketing and E-commerce.
Topic Five Operations Management: We study: Production methods, Costs and revenues, Break-even analysis, Quality assurance, Location, Innovation, Production planning and Project management.
Assessment IA H/L Business & Management
Students must develop their own individual questions. Worth 25% of the final grade. A 2,000 word written report (with a 500 word action plan), where primary research will need to be carried out.
Assessment IA S/L Business & Management
Students must develop their own individual question. Worth 25% of the final grade. A 1,500 word written commentary based on secondary research.
*IA – Coursework
Written Exam Papers
Paper 1 – Pre-Seen Case study
40% (2hrs and 15 minutes)
35% (1hr and 15 minutes)
35% (2hrs and 15 minutes)
40% (1hr and 40 minutes)
25% final grade
www.businesscasestudies.co.uk (The Times 100 Business Case Studies)
Samantha Orchard, Head of Business & Management: email@example.com in room SO3
Business and management and TOK
Students of group 3 subjects study individuals and societies. This means that they explore the interactions between humans and their environment in time and place. As a result, these subjects are often known collectively as the “human sciences” or “social sciences”.
As with other subject areas, there is a variety of ways of gaining knowledge in group 3 subjects. For example, archival evidence, data collection, experimentation, observation, inductive and deductive reasoning can all be used to help explain patterns of behaviour and lead to knowledge claims. Students in group 3 subjects are required to evaluate these knowledge claims by exploring knowledge issues such as validity, reliability, credibility, certainty, and individual as well as cultural perspectives.
The relationship between group 3 subjects and TOK is of crucial importance and fundamental to the Diploma Programme. Having followed a course of study in group 3, students should be able to reflect critically on the various ways of knowing and methods used in human sciences, and in doing so, become “inquiring, knowledgeable and caring young people” (IBO mission statement).
During the course in business and management a number of issues will arise that highlight the relationships between TOK and business and management.
Some of the questions that could be considered during the course are identified below.
- Is the practice of developing ethical objectives solely as a marketing strategy, in fact, ethical?
- Can today’s CEOs (chief executive officers) in business learn from great military leaders of the past?
- What sort of knowledge is communicated through a set of business accounts?
- Is there room for both logic and emotion in business?
- Are globalization and the maintenance of cultures mutually exclusive?
- Does marketing respond to, or change, the perceptions of individuals and societies?
- How do we know that business information is reliable?
- What is the role of intuition and tacit knowledge in business decisions?
In exploring the interactions between humans and their environment, students reflect on their own identity and potential roles within society. Business & Management focuses on all types of organizations both profit and non-profit making (charities). Students are encouraged to consider about how they are stakeholders not just in the school community, but in the local and wider global community too. Globalization, Politics, Economics and ethics are also key to our course and feed into CAS ideas.
In addition to helping students learn to be more reflective and responsible global citizens. Business & Management helps to provide skills which will help them in their CAS activities. They will learn about strategic thinking and setting objectives, acquire planning skills, communication, motivation and develop an appreciation for different cultural perspectives within organizations.
Many organizations have environmental or social objectives. Though wide use of real life case studies from around the world, this could them ideas about different groups to contact or entrepreneurial learning projects.