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Unit 6 Business management toolkit

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  1. 6.1 Business management tools

    1. 6.1.1SWOT analysis

      • Tool for analysing strengths, weaknesses, opportunities, and threats • Suggested integration: Units 1, 2, 3, 4, and 5

    2. 6.1.2Ansoff matrix

      • Tool for analysing growth strategies through markets and products • Suggested integration: Units 1 and 4

    3. 6.1.3STEEPLE analysis

      • Tool for analysing social, technological, economic, environmental, political, legal, and ethical external factors • Suggested integration: Units 1, 2, and 4

    4. 6.1.4Boston Consulting Group matrix

      • Tool for analysing product portfolio position and resource allocation • Suggested integration: Units 3 and 4

    5. 6.1.5Business plan

      • Tool for planning business aims, operations, marketing, finance, and strategy • Suggested integration: Units 1, 2, 3, 4, and 5

    6. 6.1.6Decision trees

      • Tool for analysing choices, probabilities, expected outcomes, and risk • Suggested integration: Units 1 and 5

    7. 6.1.7Descriptive statistics

      • Includes mean, mode, median, bar charts, pie charts, infographics, quartiles, and standard deviation • Suggested integration: Units 2, 3, 4, and 5

    8. 6.1.8Circular business models

      • Includes circular supply, resource recovery, product life extension, sharing, and product service system models • Suggested integration: Units 1 and 5

    9. 6.1.9(HL)—Force field analysis

      • HL tool for analysing driving and restraining forces for change • Suggested integration: Units 2 and 5

    10. 6.1.10(HL)—Gantt chart

      • HL tool for scheduling tasks and project timelines • Suggested integration: Units 4 and 5

    11. 6.1.11(HL)—Hofstede's cultural dimensions

      • HL tool for analysing cultural differences and their impact on business • Suggested integration: Units 2, 4, and 5

    12. 6.1.12(HL)—Porter's generic strategies

      • HL tool for analysing broad competitive strategies • Suggested integration: Units 1 and 4

    13. 6.1.13(HL)—Contribution

      • HL tool including make or buy analysis, contribution costing, and absorption costing • Suggested integration: Units 3, 4, and 5

    14. 6.1.14(HL)—Critical path analysis

      • HL tool including completion and analysis of a critical path diagram • Drawing the critical path diagram is not expected • Includes identification of the critical path and calculation of free and total float • Suggested integration: Units 4 and 5

    15. 6.1.15(HL)—Simple linear regression

      • HL tool including scatter diagrams, line of best fit, correlation, and extrapolation • Suggested integration: Units 1, 4, and 5