Business Management International Baccalaureate Course Overview
IB Business Management is a wide-ranging course that enables students to develop attributes required to become capable and creative business leaders and entrepreneurs in an increasingly globalised world. Students will explore the principles and tools used by businesses to make decisions, focusing on areas such as management, customers, operations, finance and marketing to understand how businesses function and can be successful in uncertain markets and contexts.
Teachers make use four key interdisciplinary concepts: creativity, change, ethics and sustainability and enable students to apply these to a business context, examining how internal and external forces influence a company’s stakeholders. Inquiry questions are used across the course to allow students to examine how companies grow and the organisational culture and structures that evolve with that growth. Practically, students gain an understanding of accounts, cost and revenue as well as marketing strategy and operations management alongside the integrated business management toolkit.
This is an intellectually stimulating course that prepares students to contribute in a compassionate and confident manner to the world around them and take advantage of opportunities to grow and be successful as citizens and leaders.
Example course units:
Unit 1: Introduction to Business Management
- 1.1 What is a business?
- 1.2 Types of business entities
- 1.3 Business objectives
- 1.4 Stakeholders
- 1.5 Growth and evolution
- 1.6 Multinational companies (MNCs)
Unit 2: Human resource management
- 2.1 Introduction to human resource management
- 2.2 Organizational structure
- 2.3 Leadership and management
- 2.4 Motivation and demotivation
- 2.5 Organizational (corporate) culture (HL only)
- 2.6 Communication
- 2.7 Industrial/employee relations (HL only)
Unit 3: Finance and accounts
- 3.1 Introduction to finance
- 3.2 Sources of finance
- 3.3 Costs and revenues
- 3.4 Final accounts
- 3.5 Profitability and liquidity ratio analysis
- 3.6 Debt/equity ratio analysis (HL only)
- 3.7 Cash flow
- 3.8. Investment appraisal
- 3.9 Budgets (HL only)
Unit 4: Marketing
- 4.1 Introduction to marketing
- 4.2 Marketing planning
- 4.3 Sales forecasting (HL only)
- 4.4 Market research
- 4.5 The seven Ps of the marketing mix
- 4.6 International marketing (HL only)
Unit 5: Operations management
- 5.1 Introduction to operations management
- 5.2 Operations methods
- 5.3 Lean production and quality management (HL only)
- 5.4 Location
- 5.5 Break-even analysis
- 5.6 Production planning (HL only)
- 5.7 Crisis management and contingency planning (HL only)
- 5.8 Research and development (HL only)
- 5.9 Management information systems (HL only)
The course is made up of both externally assessed examinations and an internally assessed portfolio. King’s InterHigh will support with guidance around where external exams may be sat. These exams are sat at the end of the two year programme.
- Paper 1 Based on a pre-released statement that specifies the context and background for the unseen case study
- Paper 2 Based on unseen stimulus material with a quantitative focus
- Paper 3 Based on unseen stimulus material about a social enterprise (Higher Level)
- Business research project
Students produce a research project about a real business issue or problem facing a particular organization using a conceptual lens.
- “Explain one advantage and one disadvantage for MT of being a small business”
- “Using the information in the stimulus, evaluate WM’s decision to shift from mass production to mass customization.” (Standard Level)
- “Using the data provided in Table 7, other information in the stimulus, and a Boston Consulting Group (BCG) matrix, recommend to QS which e-scooter model should be removed from QS’s portfolio in order for the company to remain profitable” (Higher Level)
- “Using all the resources provided and your knowledge of business management, recommend a possible plan of action to ensure the sustainability of SML for the next five years.” (Higher Level)
Learning IB Business Management online allows students to enjoy:
- High academic standards and levels of support.
- A flexible, international, high energy learning experience.
- Live, responsive teaching and feedback in small classes.
- Positive learning culture and systems for communication.
- 24/7 access to course resources and lessons, recorded and catalogued.
- Experienced, subject specialist teachers to both Standard and Higher level.