IB Group 3 – Business Management
Business Management is a dynamic subject that examines business decision-making processes and how these decisions affected by internal and external factors.
The course is designed to develop an understanding of business theory, as well as an ability to apply business principles, practices and skills. The application of tools and techniques of analysis facilitates an appreciation of complex business activities. Through case studies and theory, students study a diverse range of business organisations and activities and the cultural and economic context in which business operates. Emphasis is placed on strategic decision-making and the day-to-day business functions of marketing, production, human resource management and finance. Links between the topics are central to the course, and this integration promotes a holistic overview of business activity.
Business Management aims to help students understand the implications of business activity in a globalised world. It is designed to give students an international perspective of business and to promote their appreciation of cultural diversity through the study of topics like international marketing, ethics, human motivation, growth, innovation and change strategy.
The course encourages the appreciation and issues of social responsibility in the business world and will contribute to students’ development as effective participants in local and international business. Students seeking to pursue vocational courses such as Marketing, HR and Accountancy at further education benefit from having previously studied Business Management.
BUSINESS MANAGEMENT AND PRIOR LEARNING
No particular background in terms of specific subjects studied for national or international qualifications is expected or required and no prior knowledge of Business is necessary for students to undertake a course of study based on this specification. However, a familiarity with business concepts would be an advantage.
The course is externally assessed in two written papers worth 75%, which cover all topics and internally assessed in a research project and report worth 25%.
BUSINESS MANAGEMENT SYLLABUS
The newly revised syllabus for Business Management comprises a core curriculum for Higher Level (HL) and Standard Level (SL) consisting of five topics with common content and learning outcomes.
In addition to the core, HL students are expected to complete extension areas of study, adding both depth and breadth to the course.
Topic 1 Business organisation and environment
Topic 2 Organisation and Human resources management
Topic 3 Business finance and accounts management
Topic 4 Marketing, research and the marketing mix
Topic 5 Operations management
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