Mrs. Rumsey's Guide to IB HL Business Management 2017-2018

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Mrs. Rumsey's

Guide to IB HL

Business Management

2017-2018

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Table of Contents

Business Management Introduction .................................................................................... 3

Approaches to Learning ...................................................................................................... 4

6 Concepts .......................................................................................................................... 5

CUEGIS ................................................................................................................................ 7

Syllabus Outline ................................................................................................................. 16

Unit 1 ................................................................................................................................. 16

Unit 2 ................................................................................................................................. 19

Unit 3 ................................................................................................................................. 22

Unit 4 ................................................................................................................................. 24

Unit 5 ................................................................................................................................. 27

Unit 6 ................................................................................................................................. 29

Command Terms ................................................................................................................ 31

Assessment ........................................................................................................................ 33

IA Guide ............................................................................................................................. 34

Concept Testing ................................................................................................................. 35

Research/Data ................................................................................................................... 36

Research Proposal .............................................................................................................. 38

Written Report ................................................................................................................... 39

Word Count/Challenged Areas ........................................................................................... 40

Brainstorming/TimeLine .................................................................................................... 41

IA Criteria Grading ............................................................................................................. 42

Current Event form ............................................................................................................ 45

Partner Case Study Rubric ................................................................................................. 47

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Business Management Business management is a rigorous, challenging and dynamic discipline in the individuals and society subject group. The

role of businesses, as distinct from other organizations and actors in a society, is to produce and sell goods and services

that meet human needs and wants by organizing resources. Profit-making, risk-taking, and operating in a competitive

environment characterize most business organizations.

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

organization, whereas economics is the study of scarcity and resource allocation, both on micro and macro levels.

Business management examines the use 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 organization, and how these decisions impact upon its stakeholders, both internally and externally. Business

management also explores how individuals and groups interact within an organization, 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.

The Diploma Program business management course is designed to develop students’ knowledge and understanding of

business management theories, as well as their ability to apply a range of tools and techniques. Students learn to

analyze, discuss and evaluate business activities at local, National and international levels. The course covers a range of

organizations from all sectors, as well as the socio-cultural and economic contexts in which those organizations operate.

Emphasis is placed on strategic decision-making and the operational business functions of human resource

management, finance and accounts, marketing and operations management. Links between the topics are central to the

course, as this integration promotes a holistic overview of business management. Through the exploration of six

concepts underpinning the subject (change, culture, ethics, globalization, innovation and strategy), the business

management course allows students to develop their understanding of interdisciplinary concepts from a business

management perspective.

The course encourages the appreciation of the ethical concerns, as well as issues of corporate social responsibility (CSR),

at both a local and global level. Through the study of topics such as human resource management, organizational growth

and business strategy, the course aims to develop transferable skills relevant to today’s students. These include the

ability to: think critically; make ethically sound and well-informed decisions; appreciate the pace, nature and significance

of change, think strategically; and undertake long term planning, analysis and evaluation. The course also develops

subject-specific skills, such as financial analysis.

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Approaches to Learning IB BM Illustrated with a triangular diagram, concepts are anchored in the tools, techniques and theories of the subject and

come alive through case studies and examples. Together, these help students to acquire a holistic and integrated

understanding of business management.

Concepts

(Change, culture, ethics, globalization,

innovation, strategy)

Contexts

(Case studies and examples)

Content

(Business management tools, techniques

and theories in the syllabus)

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Concepts

Concept Understanding in relation to the course Example of context that allows for the exploration of concepts

Change Competition, new technologies and markets, and trends in consumer behavior lead business organizations to adapt their objectives, strategies and operations. Success emerges from the ability to research and respond to signals in both the internal and external environment.

Organizational objectives

Functions and evolution of human resource management

Organizational structure

Sources of finance

Cash flow

Marketing planning

Sales forecasting

Market research

Research and development

Crisis management and contingency planning

Culture Every organization operates in a range of environments in which its role may be interpreted differently. These expectations affect planning, decision making and strategy implementation. Within an organization, values and backgrounds influence what stakeholders focus on and how they work.

Types of organization

Growth and development

Leadership and management

Motivation

Organizational culture

Industrial relations

Marketing planning

International marketing

Lean production and managing quality

Location

Ethics Every business decision has moral implications. These consequences can be significant for internal and external stakeholders and the natural environment.

Introduction to business management

Types of organization


Stakeholders

External environment


Final accounts

The role of marketing

Globalization A wide range of international forces (such as increasing social, cultural, technological and economic integration) influence business organizations. In turn, business organizations shape these forces. Many business organizations operate across national boundaries. Even local businesses and consumers are influenced by global forces.

Stakeholders


Growth and evolution

Functions and evolution of human resource management



International marketing

E-commerce

Location

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Innovation Incremental or radical improvements to a business idea, or the generation of new ideas in relation to a final product, service or process, are the result of internal or external influences. For many business organizations, a key challenge is bringing in “the new” and managing the process of improvement in a sustainable way.





Sources of finance

Investment appraisal

Market research

Lean production and managing quality


Strategy Strategy refers to the significant long-term planning decisions that organizations make in order to meet the needs and wants of their stakeholders. Strategy is about asking questions: what, why, when, how, where and who?



Organizational planning tools



Final accounts

Investment appraisal

Market research

The role of operations management


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CUEGIS

MOST important part of assessment is your writing structure.

USE IA or EE business.

The 6 concepts have been incorporated into your Paper 2 exam, question C which is a 20 mark essay. Here you will have

to discuss two concepts in relation to a real world organization of your choice. Therefore, you must understand the

concepts and also have knowledge of real world examples and case studies. I will of course provide some examples in

lessons, but there is also further emphasis on you now, as the learner, to take the initiative and keep up to date on the

dynamic nature of business around you. A key task will be to understand how different theories that you learn (content)

fit into each applicable concept, through a case study (context). In other words, you must be able to recognize and pick

out relevant points made considering the concepts, and discuss these based on syllabus content, supported by evidence

from the context of the case.

The CUEGIS Essay in short

Paper 2 HL/SL, Section C

• The principal focus of questions in this section is on the concepts of change, culture, ethics, globalization, innovation

and strategy that underpin the business management course.

• While the principal focus for each question is on two of the concepts, students need to draw on their knowledge of

other relevant topics in the syllabus.

• There is no stimulus material provided for the questions.

• Students are required to address the question in relation to one real-world organization but may use information from

a range of sources, which may include real-world case studies examined in class and IA research. The real-world

organization that students use in their response must not be the case study organization featured in paper 1.

• The response should consider the perspectives of individuals and societies upon which the real-world organization

impacts.

• Students answer one extended response question from a choice of three.

• Assessment objective level 3 (AO3) command terms is used in each question.

• Each question hence requires: knowledge and understanding (AO1); application and analysis (AO2); synthesis and

evaluation (AO3); and a variety of appropriate skills (real-world organization knowledge).

• Section C is worth a total of 20 marks. Marks are allocated using assessment criteria.

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The meaning of the CUEGIS concepts

Change: reflecting the greater speed with which decisions need to be made and circumstances change in the operating

environment of most businesses.

Due to the conflicting forces, change must be managed within organisations if they are to move forward and remain

competitive. The relative strength of these forces determines whether the change should take place. Force-field analysis

is a popular management tool to aid this process. It acts as a framework for helping managers to understand the

pressures for and against any change. By identifying these forces, managers are able to assess the effects that the forces

may have. Managers can then plan to strengthen the forces supporting a decision for change, and reduce the impacts of

opposition to change.

Consider the following example. For generations, Kodak was synonymous with photography. Founded in 1889, the

company was one of the best-known brands of the twentieth century. However, with the rise of digital cameras, the

market for camera films (dominated by Kodak) died a pretty quick death. Kodak, however, ignored the change, having

expanded its global workforce and increased production of the old technology. By 2006 it was selling an obsolete

product, and in 2013 the company filed for bankruptcy protection.

Culture: appreciating that businesses need to align a broad spectrum of individual, collective and societal goals.

Culture is the values, beliefs and norms of an organisation, country or other social grouping. It shapes the customs of

people and how things get done. Culture-related questions relevant to the IB business management course include:

What are the cultural norms in your country regarding women’s rights in the workplace? What does ‘equal

opportunities’ mean in your country? How is this translated in the workplace? What does ‘inequality’ mean? How

important is business etiquette in your country? What about in other countries?

Language is an integral part of culture. Even countries that share a common language (such as Australia and the USA)

have cultural differences embedded in their language.

Ethics: emphasizing the fact that the ethical considerations businesses face are substantial and near all pervasive,

instead of being peripheral and isolatable.

Ethics are the socially accepted moral principles that guide decision making, based on the collective belief of what is

right and what is wrong. The rather subjective nature of ethics means it is sometimes unclear what is ‘right’ or ‘wrong’,

especially when looking at an issue from the perspective of various cultures. Consider the examples below: Is it morally

acceptable for a business to fabricate its financial accounts if this prevents mass job losses?

Is it possible to ensure equity and equality in the workplace? Is it acceptable for a business to monitor the online

activities of employees, e.g. their e-mail correspondence? Can it ever be morally acceptable to take credit for the work

of others? Can acting unethically ever be ‘good’ for a business? Does acting ethically hinder the profitability of an

organisation?

Globalization: reflecting the interconnected patterns of production and consumption shaped by businesses and affecting

them.

Globalisation provides both opportunities and threats for businesses. Consider these examples: Globalisation

considerably increases the level of competition, such as Vodafone (UK) competing with mobile operator 3, owned by

Hutchison Telecom (Hong Kong). Meeting customer expectations and needs becomes increasingly more demanding. To

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have any competitive advantage, businesses must meet the ever-greater customer demands for quality, service, price

and after-sales care. Businesses can strive to build a global presence. Li Ka-Shing, a self-made multibillionaire and Asia’s

richest man, has a reported wealth of over $28.8 billion through the diversity of his global businesses in the property,

food, consumer electronics, telecommunications, utilities and ports industries.

Multinational companies have greater choice of location of their production facilities. For example, Apple chose to

outsource production to China due to the relatively low costs of labour and land. Mergers, acquisitions and joint

ventures allow businesses to grow at a faster pace than if they were to expand organically. For example, BMW’s joint

venture with Brilliance China Automotive in 2003 gave the German car manufacturer direct access to the lucrative

Chinese market. Multinational companies and e-commerce businesses benefit from the increased customer base that

globalisation brings. With China and India embracing globalisation, there are huge opportunities for businesses that

trade with the two most populated countries in the world.

Innovation: emphasizing the need for businesses to renew themselves in the competitive, technologically advanced

market place with increasingly sophisticated customers.

Innovation in the corporate world can empower businesses and give them competitive advantages. Many of the most

economically successful businesses and countries are ones that have an innovative corporate culture. Innovative

entrepreneurs are those who come up with and commercialise new ideas or reinvent (redefine) old ideas. In some cases,

they even create new industries, such as smartphones and tablet computers. In today’s highly unpredictable business

world, innovation can be an important strategy. Hence, the vast majority of large multinational companies are financially

committed to innovation.

Innovation can apply to all aspects of business activities, not just products. For example, innovation is integral to kaizen.

Management guru Michael Porter said that innovation is essential for the prospects of a business and for the economic

prosperity of a country. Innovation requires managers to think creatively and more holistically about their entire

business operations.

For example, many hotels and restaurants use customer feedback forms to improve their services. Schools often use

assessment data to measure student performance and to take appropriate actions for continuous improvements to

student learning.

Strategy: reflecting the importance of holistic long-term planning in an operating environment with the above attributes.

Strategy is about devising plans to achieve an organisation’s long-term goals. There are three stages to the strategic

process.

Stage 1: Strategic analysis

Determining the current position of an organisation (where is the business now?)

Most organisations strive to anticipate the future needs of their stakeholders in order to be successful. Strategic

analysis is a thorough review of an organisation’s current situation. It is concerned with examining an

organisation’s vision, mission, aims and objectives. Strategic analysis is vital for the prosperity of a business

because managers can become too focused on current needs, so fail to see the future direction of the

organisation. It can help to provide a clear framework to aid decision making and this can help to allocate

resources more effectively. It can also involve, inform and inspire those affected by the process.

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Stage 2: Strategic choice

Determining the desired future of the organisation (where does the business want to be?)

Strategic choice is concerned with generating strategic options for the organisation so it can move on. It requires

an assessment of the financial costs and benefits of the available choices and a consideration of qualitative

factors before selecting the most appropriate strategy.

Stage 3: Strategic implementation

Determining how to get the organisation to where it wants to be (how does the business get there?)

Strategic implementation is about putting the strategic choice into practice and developing the strategy.

Implementing strategy usually involves change and change management. Effective leadership is at the heart of

successful change management and strategic implementation.

The CUEGIS concepts give you a framework or structure to apply your knowledge to different contexts. You should

become familiar with them and practise applying them to your learning.

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How you work with CUEGIS during the course Paper 2, section C of the DP business management assessment is a conceptual extended response question. You are

asked to use two of the six concepts of change, culture, ethics, globalization, strategy and innovation to discuss the

situation and issues faced by real-life organization(s) you have studied during the course, making use of business

management tools, techniques and theories.

Consequently, throughout the business management course, you need to identify real-life organizations to which these

concepts apply. For example, you can identify organizations facing a period of significant change, cultural challenges,

ethical dilemmas, issues related to globalization, strategic decisions or innovation opportunities. Although the

examination questions in paper 2, section C will ask you to discuss only two of the concepts in the context of your

chosen organization(s), you should select organizations to which several of the concepts apply so that you have flexibility

to apply your knowledge in a way required by the specifics of your chosen examination question.

After selecting an organization, you then need to study the change, culture, ethics, globalization, strategy or innovation

aspects of the case holistically: what is going on in the organization with respect to, say, cultural clashes or responses to

globalization? Researching answers through concrete events or decisions is strongly advisable. You should also think

which business management tools, techniques or theories would help you to understand the situation and issues facing

the organization better, and use these to support your analysis. Finally, you need to identify and examine what other

perspectives on the case are possible, from the viewpoint of different stakeholders within and outside the organization.

Tips:

1. Provide a definition of the concepts and the business management content given in the question.

2. Make sure you consistently demonstrate a clear link between the title question and the contents of your essay.

3. Structure your essays using an introduction, body, and conclusion. There should be fit-for-purpose paragraphs

throughout the essay.

4. Use examples of real business organizations which are up to date and link these to the essay title question.

5. You can use the same organization in your IA or an Extended Essay. Have a few real-world organizations to fall back

on.

6. Before starting the essay take time to think about most appropriate organization and consider relevant aspects of the

content.

7. Avoid generic statements and make sure your arguments are substantiated with examples and evidence.

8. Make sure you fully understand the five assessment criteria.

9. Ensure you provide reasoned judgements in your arguments. Answer the why? And give lots of explanation.

10. Knowledge of and reference to the CEO is a good way to identify an individual’s perspective.

The hardest part of the response is the TRIANGULATION between concepts, content and your business. It is

recommended that you outline in full before you start your essay, to avoid ramble. The best responses start

with real examples from businesses that link the concepts and content.

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CEASL: How to write the CUEGIS essay - CEASL Before you start your essay, it is worthwhile doing a quick plan. Simply having paragraphs in an essay does not mean

that your ideas flow well. Criterion D (structure) requires you to write “fit-for-purpose” paragraphs. This means that

you must write with clarity, with each paragraph clearly addressing the essay question.

To score maximum marks, you must have:

1. An introduction to the essay

2. A main body (with around 3 or 4 paragraphs)

3. A conclusion

4. Fit for purpose paragraphs (clear ideas that allow flow of arguments)

1. Introduction

Define the concepts.

Define the key terms/content.

Explain the business (some general background information)

2. Main body – 3 paragraphs ideal. Apply ‘CEASL’ to each paragraph and use this format for each paragraph:

Make your CLAIM or main point. Use examples/scenarios from the business that link the concept and content.

Relevant concept

Relevant content

STAKEHOLDERS (individuals or group)

ANALYSIS (balanced) …answer why to your claim triangulating all of your evidence. Give advantages and

disadvantages.

3. LINK

Make sure you answer the question explicitly, justifying your answer based on the points made in the main

body.

Summary of your main points.

Final view (substantiated)

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IBO examples of CUEGIS essay questions

With reference to one or two organization(s) that you have studied, discuss how marketing strategies may

differ in two cultures that you are familiar with.

With reference to one organization that you have studied, examine what changes globalization brings about in

the management of human resources.

With reference to one organization you have studied, compare and contrast the importance of innovation and

ethics for Research and Development (R&D).

With reference to one or two organizations that you have studied, evaluate different strategies businesses can

adopt to respond to issues of globalization.

With reference to one organization that you have studied, discuss the importance of innovation and of ethics in

marketing.

BUSINESS EXAMPLES

Examples of Businesses you might choose:

Emirates

Amazon

Uber

Facebook

Starbucks

McDonalds

KFC

You need to choose a business that has a range of issues that can exemplify the concepts required and then be applied

to a business function, such as Marketing, HRM, or Accounts and Finance.

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Overview CUEGIS Learning outcomes

Unit Sub-unit of the syllabus

CUEGIS Learning outcome

C U E G I S

1. Business organization and environment

1.3 Organizational objectives (BO1)

The need for organizations to change objectives and innovate in response to changes in internal and external environments

√ √

1.5 External environment (BO2)

Consequences of a change in any of the STEEPLE factors for a business’s objectives and strategy

√ √

1.6 Growth and evolution (BO3)

The role and impact of globalization on the growth and evolution (change) of businesses

√ √

2. Human resources 2.1 Functions and evolution of human resource management (HR1)

How innovation, ethical considerations and cultural differences may influence human resource practices and strategies in an organization

√ √ √ √

2.2 Organizational structures (HR2)

How cultural differences and innovation in communication technologies may impact on communication in an organization

√ √

2.3 Leadership and management (HR3)

How ethical considerations and cultural differences may influence leadership and management styles in an organization

√ √

2.6 Industrial/employee relations (HL only) (HR4)

How innovation, ethical considerations and cultural differences may influence employer–employee relations in an organization

√ √

√

4. Marketing 4.1 The role of marketing (M1)

How innovation, ethical considerations and cultural differences may influence marketing practices and strategies in an organization

√ √ √ √

4.5 The four Ps (product, price, promotion, place) (M2)

The impact of changing technology (innovation) on promotional strategies (such as viral marketing, social media marketing and social networking)

√ √

4.7 International marketing (HL only) (M3)

The strategic and operational implications of, the role of cultural differences in, and the implications of globalization on, international marketing (AO3).

√ √ √

5. Operations management

5.1 The role of operations management (OM1)

Operations management strategies and practices for ecological, social (human resource) and economic sustainability (ethics)

√ √

5.6 Research and Development (HL only) (OM2)

How pace of change in an industry, organizational culture and ethical considerations may influence research and development practices and strategies in an organization

√ √ √ √

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Assessment matrix - KARSI

Marks Criterion A: KNOWLEDGE and conceptual understanding.

0 The work does not reach a standard described by the descriptors below.

1 Superficial knowledge of the given concepts is demonstrated. Business management content is not selected or the content selected is irrelevant.

2 Satisfactory understanding of one or both of the given concepts is demonstrated. Some business management content selected is relevant. The relevant content is satisfactorily explained.

3 Good understanding of one or both of the given concepts is demonstrated. The business management content selected is relevant, though it may not be sufficient. The relevant content is generally well explained, though the explanation may lack some depth or breadth.

4 Good understanding of both of the given concepts is demonstrated. The business management content selected is relevant, sufficient and well explained.

Marks Criterion B: APPLICATION


1 The given concepts and/or any relevant business management content are connected to the real-world organization(s), but this connection is inappropriate or superficial.

2 The given concepts and/or relevant business management content are connected appropriately to the real-world organization(s), but this connection is not developed.

3 The given concepts and relevant business management content are generally well applied to explain the situation and issues of the real-world organization(s), though the explanation may lack some depth or breadth. Examples are provided.

4 The given concepts and relevant business management content are well applied to explain the situation and issues of the real-world organization(s). Examples are appropriate.

Marks Criterion C: REASONED ARGUMENTS


1 Statements are made but these are superficial.

2 Relevant arguments are made but these are mostly unjustified.

3 Relevant arguments are made and these are mostly justified.

4 Relevant, balanced arguments are made and these are well justified.

Marks Criterion D: STRUCTURE


1 Two or fewer of the structural elements are present, and few ideas are clearly organized.

2 Three of the structural elements are present, or most ideas are clearly organized.

3 Three or four of the structural elements are present, and most ideas are clearly organized.

4 All of the structural elements are present, and ideas are clearly organized.

Marks Criterion E: INDIVIDUALS AND SOCIETIES


1 One individual or group perspective is considered superficially or inappropriately.

2 One relevant individual or group perspective is considered appropriately, or two relevant individual or group perspectives are considered superficially or inappropriately.

3 At least two relevant individual or group perspectives are considered appropriately.

4 Balanced consideration is given to relevant individual and group perspectives.

Total

Max 20

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Syllabus Outline

Unit 1: Business organization and environment

↙ 1.1 Introduction to business management HL ONLY The role of businesses in combining human, physical and financial resources to

create goods and services.

Inputs

Outputs

Processes of a business

The main business functions and their roles:

Human resources

Finance and accounts

Marketing

Operations

Primary, secondary, tertiary and quaternary sectors The nature of business activity in each sector and the impact of sectoral change on business activity

Analyze the impact on business activity of changes in economic structure

The role of entrepreneurship (and entrepreneur) and intrapreneurship (and intrapraneur) in overall business activity

Reasons for starting up a business or enterprise and finding a market opportunity

Common steps in the process of starting up a business or an enterprise

Problems that a new business or enterprise may face

The elements of a business plan Analyze and interpret business plans.

↙ 1.2 Types of organizations Distinction between the private and public sectors Analyze the relationship between

organizations in the private and public sectors

The main features of the following types of for-profit (commercial) organizations:

Sole traders

Partnerships

Companies/corporations

The main featured of the following types of for-profit social enterprises:

Cooperatives

Microfinance providers

Public-private partnerships (PPP)

Explain the nature of public-private partnerships. Analyze the costs and benefits of cooperation between the public and private sector.

The main features of the following types of non-profit social enterprises:

Non-governmental organizations (NGOs)

Charities

↙ 1.3 Organizational objectives Vision statement and mission statement

Aims, objectives, strategies and tactics, and their relationships

The need for organizations to change objectives and innovative in response to changes in internal and external environments

Ethical objectives and corporate social responsibility (CSR) The reasons why organizations set ethical objectives and the impact of implementing them

Discuss why a firm’s view of it social responsibilities may change over time.

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The evolving role and nature of CSR

Discuss why attitudes towards social responsibility may change over time.

Analyze the impact that changes in societal norms have on the way that firms behave in a national and international context.

Analyze the reasons why firms may choose different strategies towards their social responsibilities.

SWOT analysis of a given organization

Ansoff matrix for different growth strategies of a given organization

↙ 1.4 Stakeholders HL ONLY The interests of internal stakeholders

Employees

Managers

Shareholders

The interests of external stakeholders

Suppliers

Customers

Special Interest Groups

Competitors

Possible areas of mutual benefit and conflict between stakeholders’ interests Evaluate possible ways to overcome stakeholder conflict.

↙ 1.5 External environment STEEPLE analysis of a given organization

Consequences of a change in any of the STEEPLE factors for a business’s objectives and strategy

↙ 1.6 Growth and evolution Economies and diseconomies of scale

The merits of small versus large organizations

The difference between internal and external growth The following external growth methods

Mergers and acquisitions (M&As) and takeovers

Joint ventures

Strategic alliances

Franchising

Evaluate internal and external growth strategies as methods of business expansion. Examine how Porter’s generic strategies may provide a framework for building competitive advantage.

The role and impact of globalization on the growth and evolution of businesses

Reasons for the growth of multinational companies (MNCs)

The impact of MNCs on the host countries

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↙ 1.7 Organizational planning tools (HL) The following planning tools in a decision making process:

Scientific versus intuitive decision making process

The following planning tools in a decision making process:

Fishbone diagram

Decision tree

Force field analysis

Gantt chart The value to an organization of these planning tools.

↙ 1.8 Change and the management of change Causes of change

Resistance to change

Modelling change

Lewin’s forced field analysis

Strategies to reduce the impact of change and resistance to change.

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Unit 2: Human Resource Management

↙ 2.1 Functions and evolution of human resources management. HL ONLY Human resource planning (workforce planning)

Labor turnover

Internal and external factors that influence human resource planning (such as demographic change, change in labor mobility, new communication technologies)

Common steps in the process of recruitment

Following types of training:

On the job (induction and mentoring)

Off the job

Cognitive

Behavioral

Analyze the impact on the firm of legal employment rights.

Examine how recruitment, appraisal, training and dismissal and redundancies enable the firm to achieve workforce planning targets.

The following types of appraisals:

Formative

Summative

360 degree feedback

Self-appraisal

Common steps in the process of dismissal and redundancy

How work patterns, practices and preferences change and how they affect the employer and employees (teleworking, flextime, migration for work)

Outsourcing, off shoring and re-shoring as human resource strategies.

How innovation, ethical considerations and cultural differences may influence human resource practices and strategies in an organization.

↙ 2.2 Organizational structure The following terminology to facilitate understanding of different types of

organizational structures:

Delegation

Span of control

Levels of hierarchy

Chain of command

Bureaucracy

Centralization

Decentralization

De-layering

Explain how organizational structures affect employee motivation, communication and performance

Discuss factors influencing the degree of centralization and decentralization.

The following types of organizational charts:

Flat/horizontal

Tall/vertical

Hierarchical

By product

By function

By region

Discuss the development of more flexible organizational structures.

Evaluate the role and importance of the informal organization.

Changes in organizational structures (such as project based organization, Handy’s Shamrock Org)

Analyze the reasons for changes in work patterns and practices and the consequences of these changes for employers and employees, for example working from home, teleworking and flextime.

20

Apply appropriate management theories such as Handy’s shamrock organization.

How cultural differences and innovation in communication technologies may impact on communication in an organization.

↙ 2.3 Leadership and management They key functions of management

Management versus leadership Key functions of management, applying theories of Fayol, Handy, and Drucker

The following leadership styles

Autocratic

Paternalistic

Democratic

Laissez-faire

Situational

Trait and situation theory – results of skills and abilities or circumstances face Contingency theory – Likert, Fiedler, Blake and Mouton, Tannenbaum and Schmidt.

How ethical considerations and cultural differences may influence leadership and management styles in an organization.

↙ 2.4 Motivation HL ONLY The following motivation theories:

Taylor

Maslow

Herzberg (motivation – hygiene theory)

Adams (equity theory)

Pink

Apply the content theories of Mayo and McClelland Process theories:

Expectancy Theory

Equity Theory Apply theories of writers such as Vroom and Adams.

The following types of financial rewards:

Salary

Wage (time and piece rates)

Commission

Profit related pay

Performance related pay

Employee share ownership schemes

Fringe payment (perks)

The following types of non-financial rewards:

Job enrichment

Job rotation

Job enlargement

Empowerment

Purpose to make a difference

Teamwork

How financial and non-financial rewards may affect job satisfaction, motivation and productivity in different cultures.

↙ 2.5 Organizational (corporate) culture (HL ONLY) HL ONLY


Elements of organizational culture

Types of organizational culture

The reasons for and consequences of cultural clashes within organization when they grow, merge and when leadership styles change

How individual influence org culture and how it influences individuals

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↙ 2.6 Industrial/employee relations (HL ONLY) HL ONLY

The role and responsibility of employee and employer representatives

The following industrial employee relations methods used by:

Employees: collective bargaining, slowdowns/go slows, work to rule, overtime bans and strike action

Employers: collective bargaining, threats of redundancies, changes of contract, closure and lock outs

Sources of conflict in the workplace

The following approaches to conflict resolutions:

Conciliation and arbitration

Employee participation and industrial democracy

No-strike agreement

Single-union agreement

Reasons for resistance to change in the workplace (such as self-interest, low tolerance, misinformation and interpretation of circumstances)

Human resource strategies for reducing the impact of change and resistance to change (such as getting agreement/ownership, planning and timing the change and communicating the change)

How innovation, ethical considerations and cultural differences may influence employer-employee relations in an organization

↙ 2.7 Crisis Management and contingency planning (HL ONLY) HL ONLY

Explain the difference between crisis management and contingency planning Evaluate the costs and benefits of contingency planning. Discuss how far it is possible to plan for a crisis.

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Unit 3: Accounts and Finance

↙ 3.1 Sources of finance HL ONLY

Role of finance for business:

Capital expenditure

Revenue expenditure

The following internal sources of finance:

Personal funds (for sole traders)

Retained profit

Sale of assets

The following external sources of finance:

Share capital

Loan capital

Overdrafts

Trade credit

Grants

Subsidies

Debt factoring

Leasing

Venture capital

Business angels

Short, medium and long term finance

The appropriateness, advantage and disadvantages of sources of finance for a given situation

↙ 3.2 Costs and revenues HL ONLY

The following types of cost, using examples:

Fixed

Variable

Semi-variable

Direct

Indirect/overhead

Cost and profit centres

Contribution analysis for multi-product firms

Total revenue and revenue streams, using examples.

↙ 3.3 Break-even analysis HL ONLY

Total contribution versus contribution per unit

A break even chart and the following aspects of break-even analysis:

Break even quantity/point

Profit or loss

Margin of safety

Target profit output

Target profit

Target price

The effects of changes in price or cost on the break-even quantity, profit and margin of safety, using graphical and quantitative methods.

Target profit and revenue

The benefits and limitations of break-even analysis

↙ 3.4 Final accounts HL ONLY

The purpose of accounts to different stakeholders

The principles and ethics of accounting practice

Final accounts:

Profit and Loss Account (Income statements) – trading account, P/L account, Appropriation Account

Balance Sheet

Different types of intangible assets Goodwill

Patents and copyrights

Brands

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Depreciation using the following methods:

Straight line method

Reducing/declining balance method

The strengths and weaknesses of each method

Last in first out (LIFO) First in first out (FIFO)

↙ 3.5 Profitability and liquidity ratio analysis HL ONLY

Profitability and efficiency ratios:

Gross Profit margin

Net profit margin

ROCE

Possible strategies to improve these ratios

Liquidity ratios:

Current

Acid-test/quick

Strategies to improve these ratios

↙ 3.6 Efficiency ratio analysis (HL ONLY) HL Only

The following further efficiency ratios:

Inventory/stock turnover

Debtor days

Creditor days

Gearing ratios

Shareholder ratios

Earnings per share

Dividend year

Possible strategies to improve these ratios

↙ 3.7 Cash flow HL ONLY Difference between profit and cash flow

Working capital cycle (cash flow cycle)

Cash flow forecasts

The relationship between investment, profit and cash flow

Strategies for dealing with cash flow problems:

Reducing cash outflow

Improving cash inflows

Looking for additional finance

↙ 3.8 Investment Appraisal HL ONLY Investment opportunities using payback period and average rate of return (ARR) Discounted cash flow (DCF)

Investment opportunities using net present value.

↙ 3.9 Budgets (HL ONLY) HL ONLY The importance of budgets for

organization

The differences and roles between cost and profit centres

Variances

The role of budgets and variances in strategic planning

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Unit 4: Marketing

↙ 4.1 The role of marketing HL ONLY Marketing and its relationship with other business functions.

Differences between marketing of goods and services

Market orientation versus product orientation Analyze the influence of marketing orientation on the success or failure of firms

Difference between commercial marketing and social marketing Social marketing Asset led marketing

Characteristics of the market in which an organization operates

Market share

The importance of market share and market leadership

Marketing objectives of for profit organizations and nonprofit organizations

How marketing strategies evolve as a response to change in customer preferences

How innovation, ethical considerations and cultural differences may influence marketing practices and strategies in an organization

↙ 4.2 Marketing planning HL ONLY Elements of a marketing plan

Role of marketing planning

Four P’s of marketing mix

Appropriate marketing mix for a particular product or business

Effectiveness of a marketing mix in achieving marketing objectives Porters five forces

Apply Porters model to classify and analyze competitive pressure in the marketplace.

Difference between target markets and market segments

Possible target markets and market segments in a given situation

Difference between niche market and mass market

How organizations target and segment their market and create consumer profiles

Product position map

Importance of having a unique selling point/proposition (USP)

How organizations can differentiate themselves and products from competitors

↙ 4.3 Sales forecasting (HL only) HL ONLY

Up to four-part moving average, sales trends and forecast (including seasonal, cyclical and random variation) using given data

The benefits and limitations of sales forecasting

↙ 4.4 Market research Why and how organizations carry out market research

Following methods/techniques of primary market research:

Surveys

Interviews

Focus groups

Observations

Following methods/techniques of secondary market research:

Market analysis

Academic journals

Government publications

Media articles

Ethical considerations of market research

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The difference between qualitative and quantitative research

Following methods/techniques of secondary market research:

Quota

Random

Stratified

Cluster

Snowballing

NEW - Convenience

Sales forecasting and trends

Seasonal cyclical and random variation

Results from data collection

↙ 4.5 The four P’s HL ONLY PRODUCT

The product life cycle

Relationship between the product life cycle and the marketing mix

Extension strategies

Relationship between product life cycle, investment, profit and cash flow

Boston Consulting Group (BCG) matrix on an organization’s products

Branding:

Awareness

Development

Loyalty

Value

Family branding

Product branding

Company branding

Own label branding

Manufactures branding

Importance of Branding

Importance of Packaging

PRICE

Appropriateness of the following pricing strategies:

Cost – plus (mark up)

Penetration

Skimming

Psychological

Loss leader

Price discrimination

Price leadership

Predatory

Marginal cost pricing

Contribution pricing

Absorption cost and full cost pricing

Going rate

Promotional

Elasticity

Price elasticity

Income elasticity

Cross elasticity

Advertising elasticity

Relationship of elasticity with product life cycle

PROMOTION

The following aspects of promotion:

Above the line promotion

Below the line promotion

Promotional mix

Impact of changing technology on promotional strategies (such as viral marketing, social media and social networking)

Guerrilla marketing and its effectiveness as a promotional method.

PLACE

Importance of place in marketing mix Supply chain management/logistics How organizations can increase the efficiency of the supply chain

Effectiveness of different types of distribution channels

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↙ 4.6 The extended marking mix of sevens P’s (HL ONLY ) HL ONLY

People

The importance of employee-customer relationships in marketing a service and cultural variation in these relationships

Processes

The importance of delivery processes in marketing mix a service and changes in these processes

Physical evidence

The importance of tangible physical evidence in marketing a service

The seven Ps model in a service based market

↙ 4.7 International marketing (HL ONLY) HL ONLY

Methods of entry into international markets

The opportunities and threats posed by entry into international markets

The strategic and operational implications of international marketing

The role of cultural differences in international marketing

The implications of globalization on international marketing

↙ 4.8 E-commerce HL ONLY Features of e-commerce

Effects of changing technology and e-commerce on the marketing mix

Difference between types of e-commerce:

Business to business (B2B)

Business to consumer (B2C)

Consumer to consumer (C2C)

Costs and benefits of e-commerce to firms and consumers

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Unit 5: Operations Management

↙ 5.1 The role of operations management HL ONLY Operations management and its relationship with other business functions

Operations management in organizations producing goods and/or services

Operations management strategies and practices for ecological, social (human resources) and economic sustainability

↙ 5.2 Production Methods HL ONLY The following production methods:

Job/customized production

Batch production

Mass/flow process production

NEW – cellular manufacturing

Cell production, teamwork and productivity implications

Most appropriate method of production for a given situation

↙ 5.3 Lean production and quality management (HL ONLY) HL ONLY

The following features of lean production:

Less waste

Greater efficiency

The following methods of lean production:

Continuous improvement (kaizen)

Just in time (JIT)

Kanban

Andon

Features of cradle to cradle design and manufacturing

Features of quality control and quality assurance

The following methods of managing quality:

Quality circle

Benchmarking

Total quality management (TQM)

The impact of lean production and TQM on an organization

The importance of national and international quality standards

↙ 5.4 Location HL ONLY The reasons for a specific location of production

Impact of globalization on location

NEW - The following ways of re-organizing production, both nationally and internationally :

Outsourcing/subcontracting

Offshoring

Insourcing

↙ 5.5 Production planning (HL ONLY) HL ONLY The supply chain processes

The difference between JIT and Just in case (JIC)

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Stock control charts based on the following:

Lead time

Bugger stock

Re-order level

Re-order quantity

Capacity utilization rate

Productivity rate

Cost to buy (CTB)

Cost to make (CTM)

↙ 5.6 Research and Development (HL ONLY) HL ONLY The importance of research and

development for a business

The importance of developing goods and services that address customers ‘unmet needs (of which the customers may or may not be aware)

The following types of innovation:

Product

Process

Positioning

Paradigm

The difference between adaptive creativity (adapting something that exists) and innovative creativity (creating something new)

How pace of change in an industry, organizational culture and ethical considerations may influence research and development practices and strategies in an organization

LEAVING – patents, copyrights, and trademarks

↙ 5.7 Crisis management and contingency planning (HL ONLY) HL ONLY The difference between crisis

management and contingency planning

The following factors that affect effective crisis management:

Transparency

Communication

Speed

Control

The following advantages and disadvantages of contingency planning for a given organization or situation:

Cost, Time

Risks, Safety

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Unit 6: Business Strategy (HL ONLY)

This topic does not add new content but gathers together and synthesizes ideas, concepts and techniques from the

course. The use of these ideas, concepts and techniques will allow informed decisions to be made about the future

direction of an organization. This will be assessed through a question in section C of paper 1 requiring a strategic

response. Student’s should apply business theories learned in class to real-life situations.

Strategy is about asking questions: what, why, when, how, where and who?

Strategic management is the management of the long term activities of the business, which includes the integration of

strategic analysis, strategic choice and strategic implementation.

Stage 1: Strategic analysis – where is the business now?

Deciding where the business is now involves an analysis of its internal and external situation. The analysis will dictate

the nature of future strategy. The opportunities and threats faced will vary according to the nature of the business. An

analysis of the present market and the firms competitive situation will influence the aims, objects and principles. The

starting point for the analysis will probably be through the use of a SWOT and PEST analysis. Questions to consider:

Is the business new or established?

Who are the stakeholders?

Is the business profit or NPO?

Types of organization?

What are objectives of organization?

How does mission/vision statement reflect business?

What are attitudes of the business to risk?

What is the firms present financial situation and is it conducive to change?

Financial analysis and ratio analysis?

Is present product portfolio appropriate? (Boston matrix)

What resources are available to the business? (Porter’s five forces market analysis)

Should the organization enter international markets?

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Stage 2: Strategic choice – where is the business aiming to be?

Once the business has identified its position in the market, it needs to consider its objectives in the short medium

and long term. To achieve this, the business must examine market opportunities, threats, and then plan for the

future. Questions to consider:

Why are business plans important?

How are markets developing? (Sales forecasting)

Which new market opportunities are available? (Market research)

What are the future directions available to the firm?

When is expansion desirable and achievable? (Small vs large organizations, Cash flow forecasts, Gearing,

Sources of finance, HR planning)

How can the core competencies of the business be developed?

Growth strategies? (Ansoff matrix, Investment appraisal)

What are competitors doing and how can their offer be matched or improved upon? (Benchmarking)

How do the processes of decision making help to direct the business? (scientific and formal, decision tree,

Force field analysis?

What are the measures of success? (ROCE, Market share, Motivation and productivity)

Stage 3: Strategic implementation – how is the business going to achieve its objectives?

Having decided on the future direction of the business, its mission, aims and objectives, how will the business put its

strategies into operation? Questions to consider:

How can the firm develop competitive advantage? (Porters generic strategies)

Which new products/services should be developed?

Which new technologies could be applied?

How can differentiation be achieved?

How should the business plan for change? (Workforce planning, recruitment and training, flexible working

patterns, investment appraisal)

What is the appropriate scale of operations? (economies and diseconomies of scale)

Which growth methods can and should be selected? (Internal/organic growth, external growth, globalization)

Which marketing strategies can be implemented? (Market leadership and market penetration pricing,

segmentation, targeting and positioning, distribution chain management, e-commerce)

What is the appropriate organizational structure? (flattening, decentralization, flexible organization such as

Handy’s shamrock)

What is the appropriate management and leadership style

How should the firm incorporate social responsibility and ethical approaches?

How can change be managed effectively? (change culture, contingency planning and crisis management)

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Command Terms

Assessment objective Key command term Depth

AO1 Demonstrate knowledge and understanding

Define Describe Outline State

These terms require students to learn and comprehend the meaning of information.

AO2 Demonstrate application and analysis of knowledge and understanding

Analyze Apply Comment Demonstrate Distinguish Explain Interpret Suggest

These terms require students to use their knowledge and skills to break down ideas into simpler parts and to see how the parts relate.

AO3 Demonstrate synthesis

Compare Compare and contrast Contrast Discuss Evaluate Examine Justify Recommend To what extent

These terms require students to rearrange component ideas into a new whole and make judgments based on evidence or a set of criteria.

AO4 Demonstrate a variety of appropriate skills

Annotate Calculate Complete Construct Determine Draw Identify Label Plot Prepare

These terms require students to demonstrate the selection and use of subject-specific skills and techniques.

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Glossary of terms

Command term

Assessment level

Definition

Analyze AO2 Break down in order to bring out the essential elements or structure.

Annotate AO4 Add brief notes to a diagram or graph.

Apply AO2 Use an idea, equation, principle, theory or law in relation to a given problem or issue.

Calculate AO4 Obtain a numerical answer showing the relevant stages in the working.

Comment AO2 Give a judgment based on a given statement or result of a calculation.

Compare AO3 Give an account of the similarities between two (or more) items or situations, referring to both (all) of them throughout.

Compare and contrast

AO3 Give an account of similarities and differences between two (or more) items or situations, referring to both (all) of them throughout.

Complete AO4 Add missing information/date.

Construct AO4 Display information in a diagrammatic or logical form.

Contrast AO3 Give an account of the differences between two (or more) items or situations, referring to both (all) of them throughout.

Define AO1 Give the precise meaning of a word, phrase, concept or physical quantity.

Demonstrate AO2 Make clear by reasoning or evidence, illustrating with examples or practical application.

Describe AO1 Give a detailed account.

Determine AO4 Obtain the only possible answer.

Discuss AO3 Offer a considered and balanced review that includes a range of arguments, factors, or hypotheses. Opinions or conclusions should be presented clearly and supported by appropriate evidence.

Distinguish AO2 Make clear the differences between two or more concepts or items.

Draw AO4 Represent by means of a labelled, accurate diagram or graph using a pencil. A ruler should be used for straight lines. Diagrams should be drawn to scale and points plotted and joined in a straight line or smooth curve.

Evaluate AO3 Make an appraisal by weighing up the strengths and limitations.

Examine AO3 Consider an argument or concept in a way that uncovers the assumptions and interrelationships of the issue.

Explain AO2 Give a detailed account including reasons or causes.

Identify AO4 Provide an answer from a number of possibilities.

Interpret AO2 Use knowledge and understanding to recognize trends and draw conclusions from given information.

Justify AO3 Give valid reasons or evidence to support an answer or conclusion.

Label AO4 Add labels to a diagram.

Outline AO1 Give a brief account or summary.

Recommend AO3 Present an advisable course of action with appropriate supporting evidence/reason in relation to a given situation, problem or issue.

Plot AO4 Mark the position of points on a diagram.

Prepare AO4 Put given date or information from a stimulus/source into a suitable format.

State AO1 Give a specific name, value or other brief answer without explanation or calculation.

Suggest AO2 Propose a solution, hypothesis or possible answer.

To what extent AO3 Consider the merits or otherwise of an argument or concept. Opinions and conclusions should be presented clearly and supported with appropriate evidence and sound argument.

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Assessment Outline HL Assessment Component Weight External assessment (4 hours and 30 minutes total) Paper 1 ( 2 hour and 15 minutes) Based on a case study issued in advance, with additional unseen material included in sections B and C. Students assessed on ALL syllabus content.

Section A – Answer two of three structured questions (20 marks)

Section B – Answer one compulsory question including evaluative skills. (20 marks)

Section C - Answer one compulsory question focusing on strategic decision making through the use of extension material. (20 marks)

Paper 2 (2 hour and 15 minutes) Students assessed on ALL syllabus content.

Section A – Answer one of two structured questions with quantitative element (10 marks)

Section B – Answer two of three structured questions (40 marks)

Section C – CUEGIS response (20 marks)

75% 35%

40%

Internal assessment (30 teaching hours total) This component is internally assessed by the teacher and externally moderated by the IB at the end of the course. Research proposal and action plan – a working document not part of the actual report, but part of planning. Report that addresses and issue facing an organization or analyses a decision to be made by an organization. (Maximum 2000 words) ( 25 marks)

25%

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IA HL GUIDE The internal assessment, or research project, will count for 25% of both your IB score and class grade. Students need to demonstrate the application of business and management tools, techniques and theories to a real business issue or problem. Students must select a real issue or problem, not a fictional one, and must produce a research proposal with a title presented as a question. The paper must refer directly to a single business organization, but may consider industry-wide issues that impact the organization. The paper must be based on primary research gathered from the organization and presented in a useful working document for management. At FHS we will partner with local businesses, so that you can better learn the small business perspective. We like to collaborate with our community, and to go local. There is so much value in working with a business professional, and you are able to gain more resources. Your professional soft skills are also developed and critical. It is the global perspective gone local – more buy in, and giving back to our local community. It will be easier if you choose a larger business within the valley, or perhaps a franchise or branch of a national organization. It is advised that you choose a business that you’re interested in in order to increase your buy-in and interest in the project.

Nuts and Bolts

The written commentary weights 25% of your IB and class grade.

Approximately 30 hours should be allocated to research project

Demonstrate application of business and management tools, techniques and theories to a real (not fictional) business issue or problem.

Undertake research that addresses an issue facing an organization or analyses a decision to be made by the organization.

Data based on primary research gathered from the organization investigated (secondary research may be used as support )

Refer directly to a single business organization

Provide a title for the research project that, to give focus and direction, must be framed as a question

Produce a research proposal (500 words max), including an action plan, to be used as the primary planning document. This is not a part of your Written Report. Think of it as a completely separate guiding document with its own individual word count that does not go towards the Written Report.

Page #’s

2000 words maximum for Written Report

Must provide two hard copies

Should include tables and/or graphs

Must produce a bibliography MLA format.

Write the report in a style and format of a useful working document for management (suggested format following)

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Concept Testing After your teacher has introduced the coursework then you need to think about a suitable topic. You will log your concept ideas in the Brainstorming section.

The following points have all caused problems in the past:

Your decision has to involve a real company and must address a forward thinking/looking issue or decision.

You may need to convince the business of the confidentiality of your research. This is assured- only three people will see the data- you, your teacher and the business itself. A letter of confidentiality is available on request.

Your decision has to be current- you cannot take a decision that has already been made by the company and write a report on it retrospect.

Your decision has to be answered by you.

Your decision has to be answerable within 2000 words- don’t choose a ‘big’ decision, keep it simple and straightforward.

Your decision must not be descriptive. Avoid questions beginning with ‘how’ instead aim for ‘should’. The important and highest mark is your analysis and evaluation.

To help you, here are a number of questions that may need answering before starting your project.

Which decisions are you currently making that I could investigate?

What data could you provide me with?

Which personnel do I need to talk to?

When would be a convenient time to visit the organization?

Can I undertake some research for you?

Why are you making this decision?

Who is responsible for this decision?

When does the decision have to be made by?

How can I help you?

Is there any information that you need to know?

You will need to answer a question (The title of the commentary), so make sure your title is phrased in such a way that it allows you to answer it AND to back that answer up.

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Research/Data

Your paper is based primarily on primary research, with secondary research to support. There are 2 factors that are important when deciding what type of data to collect:

How is it to be used?

How reliable is the data?

Use of data Your data has to be useful, that is it must be linked to a particular business technique. There is no point in collecting company accounts unless you will use them appropriately. In fact you will lose marks if you include unnecessary or irrelevant data. The first thing then is refer back to your theoretical framework and decide how to apply the data you will collect to your chosen theories. Here are some of the possible business techniques used in the past.

Decision making Model Ratio Analysis Forecasting Decision Trees

Statistics Networking TQM SWOT Analysis

Marketing Models Budgeting FFA PEST Analysis

Investment Appraisal Motivational Theory Ishikawa Fishbone BCG Matrix

CPA GANTT Charts Leadership Theory Surveying and Sampling

Ansoff Matrix Channels of Distribution Communication Theory Techniques

Organizational Charts Benchmarking

Reliability of the data One of the biggest mistakes a student can make is to rely on only one source of data. This makes the data- and your analysis- invalid. It is to be useful-again you will lose marks here if you have single source data.

Secondary Sources might include:

Market research surveys

Articles from local, national, or internal press

Financial reports

Business accounts

Business plans

Mission statements

Web-based surveys

Extracts from company web sites

Government and other statistics

Academic publications

Primary data might include:

Responses to questionnaires (students should include a blank copy of the questionnaire and a tally/summary of results)

Transcripts of interviews and discussions with focus groups

Results of surveys

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Research/Data

Arranging the data You need to consider what forms of presentation you will want to use. Some common types are set out below.

Maps Tables Calculations Accounts

Pie Charts Histograms Bar Charts Organizational Charts

Excerpts Quotations Articles Interview Transcripts

Diagrams Venn Diagrams Flow Diagrams Mind Maps

You could also be accused of plagiarism if you do not source all the data. Students can lose their IB Diploma if they don’t source correctly because it is academic dishonesty. Referencing the data

The Works Cited – this is a list of all the sources you have used in your report. They should be referenced in MLA format, with in text citations. This list does not have to be extensive- in fact much better than a long list meant to impress. You should have at least five sources though to receive the highest mark. Do not include sources that may have helped you but that you didn’t use.

The Appendix- The appendices is where you include data that is required to support the text. Examples might include photographs, documents, questionnaires, raw data and calculations. You might also add material that would otherwise destroy the flow of your argument (PEST, SWOT, sample questionnaires or company accounts). IB is not impressed with students who try and beat the word limit by dumping huge tracts of materials in the appendices.

I expect your Works Cited to be in MLA format and I STRONGLY suggest that you manage your citations in Word and organize and insert as you work.

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Research Proposal The research proposal has a required format consisting of four components. The word count on the research proposal cannot exceed 500 words. Include your word count in this section. The Research Proposal is submitted with the Written Report, and follows the Title page. It is a separate document from the Written Report.

Research question

Theoretical framework

Methodology o the rationale for study o areas of the syllabus covered o possible sources of information o organizations and individuals to be approached o methods to be used to collect and analyze data, and the reason for choosing them o the order of activities and timescale of the project

Anticipated difficulties, such as limited or biased sources

Action plan

Use the research proposal as the primary planning document, reviewing it regularly with the teacher and modifying or rewriting is as necessary, should circumstances change. ACTION PLAN Your action plan dates will be used to lock in your timeline, and you will be graded on how you meet your deadlines RESEARCH QUESTION The research question should be forward looking rather than descriptive and should require the student to make recommendations for further action.

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Written Report

In writing the report, remember the highest mark awarded is for analysis and evaluation. Do not just present a descriptive decision. The written report, which follows the research proposal, is the second part of your IA. You must use the required format as shown below:

1. Title page Clear indication of the content of the research project, includes name, Candidate number, Word Count, and the intended audience.

2. Research Proposal (with word count) 3. Acknowledgements

Should recognize any individual and/or organization that made the production of the report possible. 4. Contents Page

Major headings in the report, beginning with the executive summary. Page numbers should be clearly indicated. 5. Executive Summary (write last and include your word count)

The executive summary should be a concise, clear and explicit summary of the document, including the recommendations and conclusions. The research question and executive summary should guide the reader to the substance of the report. The maximum length of the executive summary is 200 words, and this is not included in the word count.

6. Introduction The introduction should demonstrate some background knowledge about the organization(s) and give a clear outline of the issue or decision under investigation.

7. Research Question 8. Methodology Employed (summary of your Research Proposal)

The Methodology section should be a summary of the primary (and where relevant, secondary) research undertaken and the business tools, techniques and theories applied. It should also include an assessment of the validity and reliability of the data collected (EX partially and scope) and the methods employed. Any changes made as the work progressed should be explained.

9. Main Results and Findings Should clarify what the raw data had revealed. Should include a summary of the data collected and of the findings made, and should, where appropriate, be supported by tables, graphs and statistics.

10. Analysis and Discussion The results and findings should be analyzed with the help of relevant business tools, techniques and theories. They should also be interpreted: what main issues emerge from the research and why and how they are helpful (or not) to answering the research question? An evaluative approach to the discussion of findings should be pursued: EX, what are the strengths and weaknesses of the various positions on the issue or decision under investigation and what are their implications?

11. Conclusion and Recommendations Should follow on form the analysis and discussion; new facts of arguments should not be presented. Recommendations should be precise, answer the research question and have practical proposals for action that stem from the conclusions. If the results of the research are inconclusive, further research should be recommended. To be of practical value to management, the Report should be forward-looking and support the organizations decision-making process.

12. References and Bibliography Please use the MLA format and cite within your document.

13. Appendices These should include only relevant information that supports or emphasize what is discussed in the report.

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Word Count

The report must not exceed 2,000 words. A word count must be included as part of the written report. If the word limit is exceeded, the assessment is based on the first 2,000 words of the report. The following is NOT included in the 2,000-word count:

o Research Proposal o title page o acknowledgements o contents page o executive summary (abstract) o tables and graphs o diagrams or figures o equations, formula and calculations o citations (if used, must be in the body of the commentary) o references (if used, must be in the footnotes/endnotes) o bibliography o appendices

The footnotes/endnotes may be used for references only. Definitions of business management terms and quotations, if used, must be in the body of the work and are included in the word count. Citation is a shorthand method of making a reference in the body of the commentary, which is then linked to the full reference in the bibliography Challenged Areas Writing the Analysis and Evaluation This is the most significant area in the whole project. It pays to get this bit right, so to help you consider the following points:

Link the analysis to your research data

Be succinct and ordered

Integrate your data, analysis and evaluation

Avoid relying too heavily on a single source (the business)

Use independent sources

Avoid unsupported generalizations

Be critical- don’t take everything for granted. Those students who complete a rough draft and get teacher feedback always perform better, as they receive a range of opinions and viewpoints. Review the final grading rubrics to see how much weight is given to your references and data. If you can fulfill these requirements then your paper will automatically represent a range of opinions and ideas. Use the data to add depth and detail to your commentary.

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Brainstorming

Potential Written Commentary Topics – Make the ? Later

Related Business theory/practice to address

Potential Resources

Timeline

Date: To Do: Points

1. Brainstorm Businesses

2. Contact and Choose Business 15 points

3. Brainstorm 3 issues and identify resources/references report.

15 points

4. Rumsey interview to discuss issue and solutions. Review and hand in outline for commentary

15 points

5. Rough draft sections # 5-10 DUE

50 points

6. Final Draft Due Date 1 and 2

200 points

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Criteria

Criterion A: Research Proposal

Criterion A should be used to assess the research proposal and action plan only.

Marks Descriptor


1 The research proposal is presented but is generally inappropriate, or two or more elements are missing.

2 The research proposal is generally appropriate, but some elements lack clarity, detail and focus or one element is missing.

3 The research proposal with all the required elements is appropriate, detailed, clear and focused.

Criterion B: Sources and data (written report)

Marks Descriptor


1 Some of the primary sources selected or the data collected are appropriate.

2 The primary sources selected and the data collected are appropriate, but are not varied and sufficient.

3 The primary sources selected and the data collected are appropriate, varied and sufficient.

Criterion C: Use of tools, techniques and theories (written report)

Marks Descriptor


1 There is a limited understanding of business management tools, techniques and theories, and these are not applied or are superficially applied.

2 There is a satisfactory understanding of relevant business management tools, techniques and theories, and these are suitably applied.

3 There is a good understanding of relevant business management tools, techniques and theories, and these are skillfully applied.

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Criterion D: D Analysis and evaluation (written report)

Achievement

level

Descriptor


1 The results and findings are limited, and no analysis of them is provided.

2 The results and findings are limited, and a superficial analysis of them is provided.

3 There is a satisfactory analysis of the results and findings and some integration of ideas.

4 There is satisfactory analysis of the results and findings, a satisfactory integration of ideas and some evidence of evaluation.

5 There is a good analysis of the results and findings, a good integration of ideas and evidence of substantiated evaluation.

6 There is a skillful analysis of the results and findings, a coherent integration of ideas and consistent evidence of substantiated evaluation

Criterion E: Conclusions (written report)

Achievement

level

Descriptor


1 There are some conclusions, but they are unsubstantiated and/or inconsistent with the evidence presented in the main body of the report.

2 Conclusions are substantiated and consistent with the evidence presented in the main body of the report. Areas for further study have been identified, if appropriate.

Criterion F: Recommendations (written report)

Achievement

level

Descriptor


1 There are recommendations, but they are unsubstantiated and/or inconsistent with the conclusions, or they do not answer the research question.

2 The recommendations are substantiated and consistent with the conclusions, and they answer the research question.

Criterion G: Structure (written report)

Achievement

level

Descriptor


1 Limited structure.

2 Appropriate Structure.

44

Criterion H: Presentation (written report)

Achievement

level

Descriptor


1 The report is missing one or more of the required components, or the components are not in the correct order or format.

2 The report includes all of the required components in the correct order and format.

Criterion I: Reflective Thinking (written report)

Achievement

level

Descriptor


1 The report includes limited or superficial reflective thinking on the approach taken in this piece of research and its limitations.

2 The report includes appropriate evidence of reflective thinking on the approach taken in this piece of research and its limitations.

45

Current Event Summary Sheet

www.bloomberg.com www.newyorktimes.com www.fortune.com www.bbc.com www.businessweek.com www.money.com www.fool.com

Related Business:

News source:

Article Title:

Author:

Date:

1. Identify business terminology/vocabulary used in the article:

2. Prepare a summary of article (brief paragraph):

3. List Related Business Management content/objectives: Business Org and Environment Human Resources Accounts/Finance Marketing Operations

4. Specific tools/theories:

5. List Related Business Management concepts: C U E G I S

6. Specific learning outcomes:

46

7. Evaluate the affect this will have on this sector/business in the near future (balanced argument). .

8. Analyze involved stakeholders and effect on them.

9. Prepare Judgement/recommendation on the article and why.

10. Prepare 3 CUEGIS concept questions relating to this article.

OTHER CURRENT EVENTS

Article Title Summary

1.

2.

3.

4.

5.

47

Partner Case Study Rubric

Names __________________________

Exceptional

Admirable

Acceptable Amateur

Exemplary

(8-10)

Acceptable

(5-7)

Unacceptable

(1-5)

Point Value

40

Case Study

Source/Research

Used up-to-date and professional resources. Written and published by reputable sources.

Fulfils assignment. Current article. Uses appropriate sources and is objective.

Out of date, unreliable or unsighted source. Does not meet assignment requirements, is not current or objective.

Relevance to

Content

Completely accurate; all facts were precise and explicit and relate to current content.

Mostly accurate; a few inconsistencies or errors in information. Relates somewhat to current content.

Somewhat accurate; more than a few inconsistencies or errors in information or incomplete. Does not relate to current content.

Assessment

Questions

Identifies not only the basics of the issue, but recognizes nuances of the issue.

Observes cause and effect and addresses existing or potential consequences. Clearly distinguishes between fact, opinion, and acknowledges value judgments.

Identifies the main problem and subsidiary, embedded or implicit aspects of the problem.

Examines the evidence and source of evidence, questions its accuracy, precision, relevance and completeness.

Does not identify and summarize the problem, is confused or identifies a different or inappropriate problem.

Merely repeats information provided, taking it as truth or denies evidence without adequate justification.

Group Facilitation Excellent listening and leadership skills exhibited; students reflect awareness of others’ views and opinions in their discussions. Provide feedback and contribute to conversation.

Students show adeptness in interacting; lively discussion focuses on the task.

Some ability to interact; attentive listening; some evidence of discussion or alternatives.

NOTES:

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Mrs. Rumsey's Guide to IB HL Business Management 2017-2018

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