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

2.6 Communication

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

3.7 Cash flow

3.8 Investment appraisal

Unit 4 Marketing

4.1 Introduction to marketing

4.2 Marketing planning

4.4 Market research

4.5 The seven Ps of the marketing mix

Unit 5 Operations management

5.1 Introduction to operations management

5.2 Operations methods

5.4 Location

5.5 Break-even analysis

Unit 6 Business management toolkit

6.1 Business management tools

IB Business Management SL 1.3 Business objectives Question Bank

(a)

Explain the strategies used by M M to achieve sustainability.

[ 6 ]

(a)

Explain the possible impacts on PU of the ethical issues it faces (lines 101-117).

[ 6 ]

(a)

Define the following terms:

[ 2 ]

(i)

corporate social responsibility (lines 88-89).

[ 2 ]

(a)

(i)

Define the term mission statement (line 11).

[ 2 ]

(a)

Explain, with reference to M S S, the purpose of the mission and vision statements (line 37).

[ 6 ]

(a)

State two benefits for TM of having aims (line 18).

[ 2 ]

[Maximum number: 2]

2. Alfombras Horizonte (AH)
Alfombras Horizonte (AH) produces natural henequen* rugs in Yucatán, Mexico, and sells them online. AH rugs are very popular among young people because of their eco-friendly materials and AH's mission statement: "We are responsible with Mother Earth for our environment and ourselves."
In 2022, A H 's costs increased, but it kept prices unchanged. For 2023, A H decided to change its pricing

strategy and pass on all cost increases to customers.

$Table 2: Selected financial information for \(\boldsymbol{A$

Table 2: Selected financial information for \(\boldsymbol{A

* henequen: a fibre plant from Mexico and Guatemala. Fabrics made from henequen fibre are used to make a wide variety of products, including bags, rugs and hammocks.

(a)

State two benefits to a business of having a mission statement.

[ 2 ]

(a)

Explain how the proposed contract with Country X may conflict with MM's ethical objectives (lines 114-123).

Answer the following question.

[ 6 ]

(a)

Explain ways in which P U could achieve greater sustainability in the 2022/23 academic year (lines 118-131).

Answer the following question.

[ 6 ]

(a)

Describe one benefit for TM of improving its corporate social responsibility (CSR) (line 46).

[ 2 ]

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