IB

Business & Management

Course Handbook



2013-2014

Contents

Philosophy Statement . 1
The aims of the Business and Management course 1
Objectives 1
Expectations.... 2
Skill Levels & Command words. 2-4
Syllabus Overview... 5
Assessment Overview 6
o External Assessments...... 7
o Internal Assessment. 8-9
Format of written commentary . 9
SL Internal Assessment Criteria ... 10-11
Resources.. 12

Philosophy Statement:

The learning of Business and Management in the International Baccalaureate programme aims at
developing critical thinking with an inquiry based learning to facilitate the development of learner
profiles. It will allow students to become more international minded with strong links to the world around
us using case studies and simulations. Business and management is a study of problem solving which
would give them a strong foundation when entering any degree in university with its learning through the
TOK.


The aims of the Business and Management course:

promote the importance of exploring business issues from different cultural perspectives;
encourage a holistic view of the world of business;
enable the student to develop the capacity to think critically about individual and organizational
behavior;
enhance the students ability to make informed business decisions;
enable the student to appreciate the nature and significance of change in a local, regional and global
context;
promote awareness of social, cultural and ethical factors in the actions of organizations and
individuals in those organizations;
appreciate the social and ethical responsibilities associated with businesses operating in international
markets.


Objectives:

Having followed the business and management course at SL, students will be expected to:

demonstrate knowledge and understanding of business terminology, concepts, principles and theories
make business decisions by identifying the issue(s), selecting and interpreting data, applying appropriate
tools and techniques, and recommending suitable solutions
analyze and evaluate business decisions using a variety of sources
evaluate business strategies and/or practices showing evidence of critical thinking
apply skills and knowledge learned in the subject to hypothetical and real business situations
communicate business ideas and information effectively and accurately using appropriate formats and
tools.


Expectations:

Students are given the opportunity to develop their interest and enthusiasm as they progress through
the Business and management course where practical/investigative work is fully integrated into the
course.
Students will be required to present a 1,500 word Written Assignment/Commentary at the end of
February.
Students will be required to participate in the two written paper exams in May.
Regular assignments will be set. Students are expected to keep their notes in a file.
Students are expected to make full use of internet resources to support their learning.
A course textbook for SL will be provided along with the opportunities to practice past papers.
Students will be encouraged to read journals and books which are published in different countries and
which reflect the international mindedness.



Skill Levels & Command words:

1 Knowledge
2 Application
3 Analysis
4 Evaluation Assessment Objectives


Command Word Skill Level Command Word Skill Level

Classify 1 Analyze 3
Complete 1 Apply 3
Define 1 Examine 3
Describe 1 Interpret 3
Identify 1
Outline 1

Calculate 2 Advise 4
Comment 2 Discuss 4
Compare 2 Evaluate 4
Construct 2 Justify 4
Contrast 2 Recommend 4





IB BUSINESS AND MANAGEMENT SL

QUICK COMMAND WORD GUIDE


Term Definition
Level 1:
Knowledge
(1-2 marks)
Classify Arrange/order business ideas or data by class or categories
Classify the products sold by a business based on the Boston Matrix.
Comment Description/observation of business data or information relating to
a business decision or issue
Comment on the change in Burton Inc.s change in liquidity
Complete Add information/data
Complete the ESTs and LFTs in the critical path diagram
Construct Present business data or information in the form of a diagram or
table
Construct a decision tree for Burton Inc.s various options
Define A clear, precise statement of the meaning of a business term, word
or concept
Define the term liquidity
Describe To outline the characteristics of an object or idea
Describe the corporate culture at Burton, Inc.
Identify Recognize a feature of a business idea, observation or issue
Identify a reason for the rise in Burton, Inc.s costs
Outline Give a brief summary of the points raised on an issue or idea
Outline the characteristics of a democratic leadership style.

Level 2:
Understanding
(3-4 marks)
Calculate Give a precise numerical value
Calculate Burton, Inc.s payback period on their new corporate jet
Comment Give an explanation of a business issue or information
Comment on the rise of Burton Inc.s liquidity.
Compare Examine two or more business objects/ideas in order to consider
similarities and differences between them
Compare Herzbergs and Taylors approaches to motivating workers
Contrast Consider the differences between ideas/concepts
Contrast the TQM and traditional approaches to quality control
Distinguish Show the differences between business ideas/concepts
Distinguish between democratic and autocratic leadership styles
Explain Describe, giving reasons, a business idea, observation or issue
Explain why Burton, Inc.s profits have increased
Prepare Write out data in a chart, table or diagram
Prepare a table of Burton, Inc.s sales revenue over the last five years

Level 3:
Application (5-
7 marks)
Analyze To separate business material/information into constituent parts
and determine its essential features
Analyze the factors that have led to an improvement in Burton, Inc.s
liquidity
Apply Use a theory, principle or concept in relation to a business problem
or issue
Apply Porters Five Forces to analyze the market Burton, Inc.
operates in.
Examine Consider a business decision/proposal which sets out its
assumptions and interrelationships
Examine Burton, Inc.s decision to outsource production to the
Philippines
Formulate Present a business strategy or decision in a clearly set-out form
Formulate a marketing strategy for Burton, Inc.
Interpret Draw out and explain information from business
issues/observations
Interpret the change in Burton, Inc.s profit margin.

Level 4:
Opinion
(8-10 marks)
Advise A recommendation to take a particular course of action
Based on monetary and non-monetary factors, advise the CEO of
Burton, Inc.s whether he should choose to purchase a new server
system or employ a company to manage operations via cloud
computing
Discuss By looking at all aspects of a particular business decision/proposal,
consider a balanced view of the decision or proposal.
Discuss Burton, Inc.s decision to expand into an overseas market.
Evaluate Consider the advantages and disadvantages of a business decision
or proposal
Evaluate the use of JIT stock management by Burton, Inc.
Justify Provide evidence to support or defend a business decision, strategy
or course of action
Justify Burton, Inc.s decision to launch a new product
Recommend Suggest a course of action for a business decision based on
evidence and/or argument
Recommend a promotional strategy to Burton, Inc.
To what extent Make a judgment on the success or failure of a particular course of
action based on evidence and argument
To what extent is Burton, Inc.s decision to adopt profit-related pay a
successful way to improve staff motivation?


Syllabus Overview:

Standard Level

Unit 1: Business organization and environment
Unit 2: Human resources
Unit 3: Accounts and finance
Unit 4: Marketing
Unit 5: Operations management



Unit Details from Business & Management IB Syllabus (order in which we will cover material)

Unit 1: Business organization and environment

1.1 Nature of business activity
1.2 Types of organization
1.3 Organizational objectives
1.4 Stakeholders
1.5 External environment
1.6 Organizational planning tools
1.7 Growth and evolution
1.8 Globalization


Unit 4: Marketing

4.1 The role of marketing
4.2 Marketing planning
4.3 Product
4.4 Price
4.5 Promotion
4.6 Place (distribution)
4.7 International marketing
4.8 E-commerce




Unit 3: Accounts and finance

3.1 Sources of finance
3.2 Investment appraisal
3.3 Working capital
3.4 Final accounts
3.5 Ratio analysis


Unit 2: Human resources

2.1 Human resource planning
2.2 Organizational structure
2.3 Communication
2.4 Leadership and management
2.5 Motivation


Unit 5: Operations management

5.1 Production methods
5.2 Costs and revenues
5.3 Break-even analysis
5.4 Quality assurance
5.5 Location
5.6 Production planning
Assessment Overview

Award of Course Certificate
The SL Business and Management student who completes the course provided he/she has taken internal
and external examinations will gain an IB Diploma Certificate in Business and Management, if
successful.

Standard Level [SL] -Assessment outline

External assessment Internal assessment
Paper 1 Paper 2
Syllabus content All five topics All five topics Any topic from the SL
core syllabus
Assessment
Objectives
1-6 1-6 1-6
Method Based on a case study
issued in advance.

Section A
Students answer two of
three structured questions
(30 marks)

Section B
Students answer one
compulsory structured
question including
evaluative skills (20 marks)
Section A
Students answer one of
two structured questions
based on stimulus material
with a quantitative element
(20 marks)

Section B
Students answer two of
three structured questions
based on stimulus material
(40 marks)
Written commentary

Written commentary
based on three to five
supporting documents
about a real issue or
problem facing a
particular organization
(Maximum 1,500 words)
(25 marks)
Total marks 50 marks 60 marks 25 marks
Component
time
1 hours 1 hours 15 hours
Weighting 35% 40% 25%

SL external assessments

General

Papers 1 and 2
The two written examination papers, papers 1 and 2, which are externally set and externally marked, test
the assessment objectives identified in the introduction.

Case study (paper 1)
The case study is provided by the IBO well before the examination session.
The purpose of the case study is to assess, in depth and across a number of topics, the students ability
to apply business knowledge to a given situation.

Calculators
Students may be expected to carry out simple arithmetic calculations; therefore each student is
required to have access to a calculator with basic arithmetic operations for both examination papers.
Calculators must not be shared.
Regulations concerning calculators are given in the relevant section of the Vade Mecum.

Paper 1
Duration: 1 hour 15 minutes Weight: 35%
This paper is divided into two sections, both based on the IBO-prescribed case study issued to students
well before the examination. The maximum number of marks is given below. The marks available for
each question, and each part of a question, will be indicated on the examination paper.

Section A
Students should answer questions be referring primarily to information derived from the case study, as
well as referring to their own knowledge.

Students must answer two of the three structured questions in this section. The maximum number of
marks available for this section is 30.

Section B
Students must answer the one compulsory structured question in this section. Part of the question will
test evaluative skills. The maximum number of marks available for this section is 20.

Paper 2
Duration: 1 hour 45 minutes Weight: 40%
This paper is divided into two sections. The maximum number of marks is given below. The marks
available for each question, and each part of a question, will be indicated on the examination paper.

Section A
Students must answer one of the two structured questions in this section. The questions are based on
stimulus material and contain a quantitative element. The maximum number of marks available for this
section is 20.

Section B
Students must answer the one of the three structured questions in this section. The questions are based on
stimulus material. The maximum number of marks available for this section is 40.
SL internal assessment Written Commentary [1500 words]

General

Internal assessment is an important part of the Diploma Programme Business and Management course. It
allows students to demonstrate the application of their skills and knowledge in business and management
without the time limitations and stress associated with written examinations.

Students are encouraged to obtain advice and information during the research process from the teacher.
All work presented must be the students own work. Teachers must document the support given to the
student, as well as the authenticity of the students work. Teachers may give advice on improving the first
draft of the written report, with limited annotations. Constant drafting and redrafting is not allowed, and
the next version of the paper that is handed to the teacher must be the final copy.


The commentary

Students must select a real issue or problem, not a fictional one, and must produce a commentary with
a title presented as a question. The issue or problem selected for the commentary must relate to the
SL syllabus and refer directly to a single business organization.
The title of the commentary must be phrased in the form of a question.
The commentary requires the application of business tools, techniques and theory to a contemporary
business issue or problem.
The commentary must not exceed 1,500 words. A word count must be included as part of the
commentary.
The commentary should follow the MLA format requirements.
The commentary requires analysis and evaluation of the business issue or problem. Judgments are
likely to be made throughout the commentary but are essential within a conclusion.
The student must to attach the commentary three to five supporting documents from which the
majority of the information for the commentary has been obtained. Any additional sources, such as
textbooks, class notes, and DVDs/videos, must be referenced, but will not be accepted as supporting
documents.
Students must highlight the parts of each supporting document that relate directly to their
commentary.
All supporting documents and additional sources must be fully referenced and included in a
bibliography.

Selection of supporting documents

The supporting documents must be of a contemporary nature and written a maximum of two years
before the submission of the written commentary.
Students must select their own supporting documents; it may not be supplied by the teacher.
Students must work independently, and it is recommended that they do not use the same supporting
documents as other students.
The commentary can be based on secondary sources and/or primary data.
Examples of secondary data are:
o market research surveys
o articles from the local, national, or international press
o financial reports
o business accounts
o business plans
o mission statements
o web-based surveys
o extracts from company websites
o government and other statistics
o academic publications
Examples of primary data are:
o responses to questionnaires (students should include a blank copy of the questionnaire and a
tally/summary of results)
o transcripts of interviews and discussions with focus groups
o results of surveys
Supporting documents should present a range of ideas and views in order to achieve the highest levels
of each assessment criterion.

An example of an appropriate question might be, Can company X, an independent food retailer,
survive? The commentary should then examine business concepts such as economies of scale, mergers
and acquisitions, distribution chains, the marketing mix, and the impact of changes in the external
environment represented as economic, social and demographic trends.

Format of written commentary
Title page
Contents page
Acknowledgements
Introduction
Main findings & analysis
Conclusion/s
Bibliography
Appendix



SL internal assessment criteria

The SL business and management written commentary is assessed against six criteria that are related to
the objectives for the business and management course. When the work to be assessed has been read, the
descriptors for each criterion should be studied until a descriptor is reached that most appropriately
describes the achievement level. If a piece of work seems to fall between two descriptors, both descriptors
should be read again and the one that more appropriately describes the students work chosen.

Criteria Achievement level
Criterion A Supporting documents
Criterion B Choice and application of business tools, techniques and theory
Criterion C Use, analysis and synthesis of data
Criterion D Conclusions
Criterion E Evaluation and critical thinking
Criterion F Presentation

A Supporting documents If fewer than three documents are presented, a maximum of three marks
can be awarded.

Achievement Level Descriptor
0 There are no documents presented in support of the commentary.
1 The supporting documents are irrelevant.
2 The supporting documents are generally relevant but some lack depth.
3 The supporting documents are relevant and sufficient in depth.
4 The supporting documents are relevant, sufficient in depth and provide a range
of ideas and views.

B Choice and application of business tools, techniques and theory

Achievement Level Descriptor
0 There is no use of business tools, techniques or theory.
1 There is a limited selection of business tools, techniques and theory.
2 There is a limited selection of business tools, techniques and theory, but these
are superficially applied.
3 There is appropriate selection of business tools, techniques and theory, but these
are superficially applied.
4 There is appropriate selection of business tools, techniques and theory, and these
are suitably applied.
5 There is appropriate selection of business tools, techniques and theory, and these
are competently applied.
6 There is a broad and appropriate selection of business tools, techniques and
theory, and these are skillfully applied.

C Use, analysis and synthesis of data

Achievement Level Descriptor
0 There is no use of date from the supporting documents.
1 There is inappropriate selection of data from the supporting documents.
2 There is appropriate selection of data from the supporting documents.
3 There is appropriate selection of data from the supporting documents with
superficial analysis.
4 There is appropriate selection of data from the supporting documents with
appropriate analysis.
5 There is appropriate selection of data from the supporting documents with
superficial analysis. There is some integration of ideas.
6 There is appropriate selection of data from the supporting documents with
appropriate and detailed analysis. There is coherent integration of ideas.

D Conclusions

Achievement Level Descriptor
0 There are no conclusions.
1 Conclusions are inconsistent with the evidence presented.
2 Some of the conclusions are consistent with the evidence presented.
3 The conclusions are consistent with the evidence presented and answer the
commentary question.

E Evaluation and critical thinking

Achievement Level Descriptor
0 There is no evidence of evaluation.
1 There is limited evidence of evaluation.
2 There is evidence of evaluation, but not all judgments are substantiated.
3 There is evidence of evaluation, and judgments are substantiated. Critical and
reflective thinking occurs in the commentary.

F Presentation

Achievement Level Descriptor
0 The commentary exceeds 1,500.
1 The commentary is disorganized and lacks structure. Sources are not
appropriately referenced.
2 The commentary is sufficiently organized and structured with some use of
appropriate business terminology. Sources are appropriately referenced.
3 The commentary is well organized and structured, with consistent use of
appropriate business terminology. Sources are appropriately referenced and an
appropriate bibliography is provided.

Resources:


Online Resources

http://www.bized.co.uk/
http://www.tutor2u.net/
http://www.marketingteacher.com/
http://www.mindtools.com/
http://www.businessballs.com/
http://www.bbc.co.uk/
http://www.s-cool.co.uk/default.asp
http://www.revision-notes.co.uk/
http://www.quickmba.com/
http://www.learnmanagement2.com/
http://www.bloomberg.com/
http://money.cnn.com/
http://www.businessmonitor.com
http://www.forbes.com/
http://www.cbc.ca/money/
http://www.times100.co.uk/
http://www.triplealearning.co.uk/