IBBusiness & 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...………………………………………..…………. 7o 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 student’s 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 theoriesmake business decisions by identifying the issue(s), selecting and interpreting data, applying appropriate tools and techniques, and recommending suitable solutionsanalyze and evaluate business decisions using a variety of sourcesevaluate business strategies and/or practices showing evidence of critical thinkingapply skills and knowledge learned in the subject to hypothetical and real business situationscommunicate 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 DefinitionLevel 1: Knowledge(1-2 marks)

Classify Arrange/order business ideas or data by class or categoriesClassify 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 issueComment on the change in Burton Inc.’s change in liquidity

Complete Add information/dataComplete the ESTs and LFTs in the critical path diagram

Construct Present business data or information in the form of a diagram or tableConstruct a decision tree for Burton Inc.’s various options

Define A clear, precise statement of the meaning of a business term, word or conceptDefine the term liquidity

Describe To outline the characteristics of an object or ideaDescribe the corporate culture at Burton, Inc.

Identify Recognize a feature of a business idea, observation or issueIdentify a reason for the rise in Burton, Inc.’s costs

Outline Give a brief summary of the points raised on an issue or ideaOutline the characteristics of a democratic leadership style.

Level 2: Understanding (3-4 marks)

Calculate Give a precise numerical valueCalculate Burton, Inc.’s payback period on their new corporate jet

Comment Give an explanation of a business issue or informationComment on the rise of Burton Inc.’s liquidity.

Compare Examine two or more business objects/ideas in order to consider similarities and differences between themCompare Herzberg’s and Taylor’s approaches to motivating workers

Contrast Consider the differences between ideas/conceptsContrast the TQM and traditional approaches to quality control

Distinguish Show the differences between business ideas/conceptsDistinguish between democratic and autocratic leadership styles

Explain Describe, giving reasons, a business idea, observation or issueExplain why Burton, Inc.’s profits have increased

Prepare Write out data in a chart, table or diagramPrepare 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 featuresAnalyze 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 issueApply Porter’s Five Forces to analyze the market Burton, Inc. operates in.

Examine Consider a business decision/proposal which sets out its assumptions and interrelationshipsExamine Burton, Inc.’s decision to outsource production to the Philippines

Formulate Present a business strategy or decision in a clearly set-out formFormulate a marketing strategy for Burton, Inc.

Interpret Draw out and explain information from business issues/observationsInterpret the change in Burton, Inc.’s profit margin.

Level 4: Opinion(8-10 marks)

Advise A recommendation to take a particular course of actionBased 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 proposalEvaluate the use of JIT stock management by Burton, Inc.

Justify Provide evidence to support or defend a business decision, strategy or course of actionJustify Burton, Inc.’s decision to launch a new product

Recommend Suggest a course of action for a business decision based on evidence and/or argumentRecommend 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 argumentTo 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 environmentUnit 2: Human resourcesUnit 3: Accounts and financeUnit 4: MarketingUnit 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 activity1.2 Types of organization1.3 Organizational objectives1.4 Stakeholders1.5 External environment1.6 Organizational planning tools1.7 Growth and evolution1.8 Globalization

Unit 4: Marketing

4.1 The role of marketing4.2 Marketing planning4.3 Product4.4 Price4.5 Promotion4.6 Place (distribution)4.7 International marketing4.8 E-commerce

Unit 3: Accounts and finance

3.1 Sources of finance3.2 Investment appraisal3.3 Working capital3.4 Final accounts3.5 Ratio analysis

Unit 2: Human resources

2.1 Human resource planning2.2 Organizational structure2.3 Communication2.4 Leadership and management2.5 Motivation

Unit 5: Operations management

5.1 Production methods5.2 Costs and revenues5.3 Break-even analysis5.4 Quality assurance5.5 Location5.6 Production planning

Assessment Overview

Award of Course CertificateThe 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 assessmentPaper 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 AStudents answer two of three structured questions (30 marks)

Section BStudents answer one compulsory structured question including evaluative skills (20 marks)

Section AStudents answer one of two structured questions based on stimulus material with a quantitative element (20 marks)

Section BStudents 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 marksComponent time

1 ¼ hours 1 ¾ hours 15 hours

Weighting 35% 40% 25%

SL external assessments

General

Papers 1 and 2The 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 student’s 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 1Duration: 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 AStudents 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 BStudents 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 2Duration: 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 AStudents 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 BStudents 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 student’s own work. Teachers must document the support given to the student, as well as the authenticity of the student’s 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 surveyso articles from the local, national, or international presso financial reportso business accountso business planso mission statementso web-based surveyso extracts from company websiteso government and other statisticso 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 groupso 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 student’s work chosen.

Criteria Achievement levelCriterion 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 Descriptor0 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 Descriptor0 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 Descriptor0 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 Descriptor0 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 Descriptor0 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 Descriptor0 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.asphttp://www.revision-notes.co.uk/http://www.quickmba.com/http://www.learnmanagement2.com/http://www.bloomberg.com/http://money.cnn.com/http://www.businessmonitor.comhttp://www.forbes.com/http://www.cbc.ca/money/http://www.times100.co.uk/http://www.triplealearning.co.uk/