Business and Management for the IB Diploma

Description

Tailored to the thematic requirements and assessment objectives of the IB syllabus. Designed for class use and independent study, this new coursebook is tailored to the thematic requirements and assessment objectives of the IB syllabus. It includes learning objectives and summaries; integrated Theory of Knowledge material; text in clear sections, following the IB syllabus structure and content specifications; clear, accessible English for students whose first language is not English; exam-style practice questions and a chapter on assessment and exam techniques. Written by two practising Business and Management teachers, Peter Stimpson and Alex Smith, it features the following topics: Business organisation and environment; Human resources; Accounts and finance; Marketing; Operations management; Business strategy. Cover Title Copyright Contents Topic 1 Business organisation and environment 1 The nature of business activity Introduction What is a business? What do businesses do? What are business ‘inputs’? Business functions Sectors of industry OVER TO YOU 2 Types of organisation Introduction Public and private sector organisations Starting a business Profi t-based organisations Legal forms of business organisation Public sector enterprises Non-profi t and non-governmental organisations Public–private partnership (PPP) OVER TO YOU 3 Organisational objectives Introduction Importance of objectives Aims, objectives, plans and strategies Mission statements and vision statements Corporate objectives Interrelated objectives, strategies and tactics Changing business objectives Ethical objectives Corporate social responsibility Changes in corporate responsibility OVER TO YOU 4 Stakeholders IntroductionThe traditional view of Who are the stakeholders? Business responsibilities to stakeholders Stakeholder confl icts Evaluating stakeholder confl ict OVER TO YOU 5 External environment Introduction PEST analysis External opportunities and threats Impact of technology OVER TO YOU 6 Organisational planning tools Introduction Business plans Decision-making framework Decision-making approaches and techniques SWOT analysis OVER TO YOU 7 Growth and evolution Introduction Increasing the scale of operations Merits of small and large organisations Recommending an appropriate scale of operation Business growth Joint ventures, strategic alliances,franchising Ansoff’s matrix Evaluation of growth strategies Porter’s generic strategies OVER TO YOU 8 Change and the management of change Introduction Causes of change Factors causing resistance to change Strategies to reduce impact of, and resistance to, change OVER TO YOU 9 Globalisation Introduction Multinational businesses Globalisation and the growth in international trade OVER TO YOU Topic 2 Human resources 10 Human resource planning Introduction Demographic change Labour mobility Workforce planning Recruitment Training Appraisal and development of staff Dismissal of employees Redundancies Contracts of employment Employment patterns and practices Handy’s Shamrock organisation OVER TO YOU 11 Organisational structure Introduction The formal structure Key principles of organisational structure Factors infl uencing organisational structure The organisation of human resources Delegation and accountability Delayering Bureaucracy Centralisation and decentralisation The matrix structure The fl exible future Informal organisations Outsourcing HR functions OVER TO YOU 12 Communication Introduction Importance of effective communication Communication media Factors infl uencing choice of media Informal communication Barriers to effective communication Formal communication networks OVER TO YOU 13 Leadership and management Introduction Leadership styles Effectiveness of leadership styles What makes a good leader? Leadership theories The functions of management Mintzberg’s management roles OVER TO YOU 14 Motivation Introduction Motivation theories Process theories Motivation in practice OVER TO YOU 15 Organisational and corporate cultures Introduction Types of organisational culture Consequences of culture clashes Changing organisational culture Evaluating organisational culture OVER TO YOU 16 Employer and employee relations Introduction Collective bargaining Trade unions and their role Action taken by employee sand employers Strategies to reduce conflict OVER TO YOU 17 Crisis management and contingency planning Topic 3 Accounts and finance 18 Sources of finance Introduction Capital and revenue expenditure Sources of fi nance Making the fi nancing decision OVER TO YOU 19 Investment appraisal Introduction What is investment appraisal? OVER TO YOU 20 Working capital Introduction Where does working capital come from? The importance of cash flow Cash and profit Forecasting cash flow Structure of cash-flow forecasts Benefi ts of cash-flow forecasts Limitations of cash-flow forecasts Causes of cash-flow problems Ways to improve cash flow OVER TO YOU 21 Budgeting Introduction Benefi ts of setting budgets Key features of budgeting Preparation of budgets Potential limitations of budgets Budgetary control – variance analysis Budgetary control and strategic planning OVER TO YOU 22 Financial accounts Introduction Stakeholders and accounting information The main business accounts Valuing intangible assets Depreciation of assets Stock valuation OVER TO YOU 23 Ratio analysis Introduction Accounting ratios Ratio analysis – an evaluation OVER TO YOU Topic 4 Marketing 24 The role of marketing Introduction Market: size, growth and share Consumer markets and industrial markets Marketing approaches Marketing in non-profi t-making organisations Marketing plans OVER TO YOU 25 Marketing planning Introduction Marketing mix The ethics of marketing The value of a marketing audit Porter’s Five Forces analysis Marketing objectives and corporate objectives The role of market research Sources of market research data Primary research Market segmentation and consumerprofile Sales forecasting OVER TO YOU 26 Product Introduction New product design and development Product life cycle Boston Matrix – product portfolio analysis Branding OVER TO YOU 27 Price Introduction Factors determining the price decision Pricing strategies Supply and demand Elasticity and the product life cycle OVER TO YOU 28 Promotion and place (distribution) Introduction Promotional objectives Above-the-line promotion Below-the-line promotion Sales promotion The promotion mix ‘Place’ decisions in the marketing mix Distribution channels Supply chain management (SCM) OVER TO YOU 29 International marketing and e-commerce Topic 5 Operations management 30 Production methods Introduction Production methods Impact of changing production methods Choosing appropriate production methods Using more than one method Final evaluation OVER TO YOU 31 Costs and revenues IntroductionManagement decisions Production costs Revenue Contribution to fi xed costs Costing products Contribution costing approach Using contribution costing – a summary OVER TO YOU 32 Break-even analysis Introduction Calculating break even – methods Margin of safety Break-even analysis – further uses Target revenue and profi t Break-even revenue Break-even analysis – an evaluation OVER TO YOU 33 Quality assurance Introduction Quality control and quality assurance Total quality management (TQM) Kaizen – continuous improvement Benchmarking Quality issues – an evaluation OVER TO YOU 34 Location Introduction Factors infl uencing location decisions Globalisation and international location decisions OVER TO YOU 35 Innovation Introduction The importance of research and development Intellectual property rights Factors affecting innovation OVER TO YOU 36 Production planning Introduction Stock-holding costs Controlling stock levels – a graphical approach Just in case and just in time stock systems Capacity utilisation Outsourcing OVER TO YOU 37 Project management Introduction Critical path analysis (CPA) OVER TO YOU Topic 6 Business strategy 38 Business strategy Introduction Business strategy – what does it mean? Elements of the strategic framework Strategy hierarchy Strategic analysis Strategic choice Strategic implementation OVER TO YOU Examination skills 39 Examination skills Introduction Examination technique Quantitative questions The pre-issued case study Internal assessment Extended essay in Business and Management Glossary Index Acknowledgements