IB Business Management Study Guide
Comprehensive coverage of the 2024 IB Business Management syllabus for both HL and SL: Introduction to business management, HRM, Finance & accounts, Marketing, Operations management: plus the full Business Management Toolkit (SWOT, STEEPLE, Ansoff, BCG, decision trees, descriptive statistics, circular models, plus HL tools like force field, Gantt, Hofstede, critical path, simple linear regression, contribution/absorption costing). Includes an Exams, IA & Command Terms section with Paper 1/2/3 (HL) guidance and the four key concepts (change, creativity, ethics, sustainability) woven throughout.
The Prep Den IB Business Management study guide is your complete companion for revising the course: full topic-by-topic coverage, spaced-repetition flashcards, practice quizzes with worked explanations, a key-terms bank, and exam-technique tips. Use it as your main study guide or as a supplement to your textbook and class notes.
Topics Covered
What you get
1. Introduction to Business Management
SL/HL: all of Unit 1 is SL/HL: no AHL-only content here.
Sample Flashcards
Compare the main features of a sole trader and a private limited company.
Sole trader: one owner, unlimited liability, simple setup, hard to raise capital, no continuity. Common for freelancers, plumbers, small shops.
Private limited company (Ltd): separate legal entity, limited liability, shares sold privately, more paperwork, can raise capital from invited investors.
Compare a private limited company (Ltd) and a public limited company (PLC).
Ltd: shares sold privately, not on a stock exchange. Easier to keep control; less disclosure; capital raises limited to invited investors.
PLC: shares freely traded on a stock exchange (LSE, NYSE).
Sample Key Terms
Sole Trader
A business owned and run by one individual who has UNLIMITED liability. Simple to set up; owner keeps all profits; no legal distinction between owner and business. Common for freelancers, plumbers, small shops.
Limited Liability
Shareholders can only lose what they invested in a company: personal assets are protected if the business fails. Distinguishes Ltd/PLC from sole traders/partnerships. Encourages investment.
Stakeholder
Any individual or group with an interest in or affected by a business's activities. Internal: owners, managers, employees. External: customers, suppliers, government, community, pressure groups, competitors.
What's Covered
- 1. Introduction to Business Management
- 2. Human Resource Management
- 3. Finance & Accounts
- 4. Marketing
- 5. Operations Management
- 6. Business Management Toolkit
- 7. Exams, IA & Command Terms
7 topics · 76+ flashcards · quizzes included
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