1
Unit 1
Exploring the Business World
Ownership, direction, stakeholders and multinationals
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Unit 1
Exploring the Business World
Ownership, direction, stakeholders and multinationals
Understanding Business Activity
The purpose and nature of business, the four main sectors of economic activity, entrepreneurship, and the key considerations involved in setting up a new business.
Business Ownership and Organisational Forms
Public and private sector organisations, commercial business structures, profit-focused social enterprises, and non-profit social organisations.
Establishing Business Direction
Business aims and objectives, the difference between strategy and tactics, commonly used organisational goals, and corporate social responsibility.
Business Stakeholders and Their Interests
Internal and external stakeholder groups, their expectations and influence, and conflicts that may arise between different stakeholder interests.
Business Growth and Organisational Development
Economies and diseconomies associated with scale, reasons businesses may grow or remain small, and different methods businesses can use to expand.
Operating as a Multinational Business
The characteristics and role of multinational companies and the implications of operating across different countries and markets.
2
Unit 2
Managing People and Organisations
HR planning, leadership, motivation, culture and conflict
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Unit 2
Managing People and Organisations
HR planning, leadership, motivation, culture and conflict
Strategic Human Resource Planning
Forecasting workforce requirements, emerging changes in working practices, reasons employees resist change, and approaches organisations use to manage change effectively.
Structuring an Organisation
Principles of organisational design, different forms of organisational charts, and adaptable structures designed to respond to changing business conditions.
Leadership and Management Approaches
Different leadership styles, how leaders influence employees, and the circumstances in which particular approaches to leadership may be appropriate.
Motivating and Managing Employees
Taylor, Maslow and Herzberg’s motivational approaches, additional theories of motivation, employee turnover, performance appraisal, recruitment methods, financial and non-financial incentives, and employee training.
Organisational Culture HL
Different forms of corporate culture, the influence of organisational values and behaviour, and problems that can emerge when contrasting cultures come into conflict.
Communication Within Organisations
Formal and informal communication channels, the movement of information within a business, and the effectiveness of different approaches to workplace communication.
Employee Relations and Workplace Conflict HL
Causes of conflict between employees and employers, different approaches to managing disagreements, and processes used to negotiate and resolve industrial disputes.
3
Unit 3
Financial Management and Analysis
Funding, statements, ratios, cash flow and budgeting
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Unit 3
Financial Management and Analysis
Funding, statements, ratios, cash flow and budgeting
Finance and Business Decision-Making
The role of finance in supporting business activity and the importance of financial resources in operational and strategic decision-making.
Funding Business Activities
Finance generated internally, external sources of funding, and the financial and strategic factors considered when choosing between different sources of finance.
Analysing Costs and Revenue
Different categories of business costs, sales revenue, and the relationship between expenditure, output and income.
Preparing and Interpreting Financial Statements
The statement of profit or loss, the statement of financial position, and different approaches used to calculate depreciation.
Assessing Profitability and Liquidity
Profitability ratios, liquidity ratios, interpretation of financial performance, and the use of ratio analysis to assess the financial position of a business.
Evaluating Business Efficiency HL
Stock turnover, gearing, debtor collection periods, creditor payment periods, and the use of efficiency ratios to assess how effectively resources and finance are being managed.
Managing Cash and Working Capital
Cash inflows and outflows, working capital, preparation and interpretation of cash-flow forecasts, and strategies businesses can use to improve their cash position.
Assessing Investment Opportunities
Evaluating investments using the payback period, average rate of return and net present value, and comparing alternative investment projects using financial evidence.
Budgeting and Financial Control HL
Cost centres and profit centres, preparation and use of budgets, and analysing variances between planned and actual financial performance.
4
Unit 4
Marketing Strategy and Market Development
Market analysis, planning, research and the extended mix
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Unit 4
Marketing Strategy and Market Development
Market analysis, planning, research and the extended mix
Understanding Markets and Market Performance
The role of marketing, characteristics of markets, calculation and interpretation of market share, and analysis of market growth.
Creating a Marketing Plan
The purpose of marketing planning, building a distinctive competitive position, developing unique selling propositions, and differentiating products from competitors.
Forecasting Future Sales HL
The purpose of sales forecasting, the benefits of predicting future sales, and the limitations businesses face when relying on sales forecasts.
Conducting Market Research
Different approaches to primary and secondary market research, methods of gathering market information, and techniques used to select suitable samples.
Developing the Extended Marketing Mix
Product decisions, portfolio analysis, branding, standard and advanced pricing approaches, promotional strategies, distribution decisions, people, processes, and physical evidence.
Marketing Across International Markets HL
Approaches businesses use to enter overseas markets, factors influencing international expansion, and the challenges associated with operating and marketing internationally.
5
Unit 5
Operations, Innovation and Business Systems
Production, quality, break-even, crisis planning and R&D
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Unit 5
Operations, Innovation and Business Systems
Production, quality, break-even, crisis planning and R&D
Managing Business Operations
The purpose of operations management and its role in organising resources and transforming inputs into goods and services efficiently.
Choosing Production Methods
Different methods of production and the operational factors businesses consider when selecting the most appropriate approach.
Lean Operations and Quality Control HL
Lean production techniques, approaches to reducing waste and improving efficiency, and methods businesses use to manage and maintain quality.
Making Location and Relocation Decisions
Factors influencing the choice of production location and the operational implications of relocating or reorganising production activities.
Understanding Break-even Performance
Break-even calculations and interpretation, the impact of changing costs and revenues on break-even, and the strengths and limitations of break-even analysis.
Planning Production and Inventory HL
Supply-chain processes, stock-control charts, inventory planning, and operational performance measures used to monitor production activity.
Managing Business Crises and Preparing for Disruption HL
Approaches to crisis management, the importance of contingency planning, and how organisations prepare for and respond to unexpected operational problems.
Research, Development and Innovation HL
Business research, product and process development, and the role of innovation in improving competitiveness and supporting long-term growth.
Business Information and Management Systems HL
Management Information Systems and the ways businesses collect, store and use information to support operational and strategic decision-making.