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IBDP Business Management SL

Study Notes
1.1.1 Definition of Business
1.1.2 Role of Management
1.1.3 Key Management Functions
1.2.1 Sole Proprietorships
1.2.2 Partnerships
1.2.3 Corporations
1.2.4 Non-Profit Organisations
1.3.1 Purpose of Objectives
1.3.2 Setting Objectives
1.3.3 Reviewing and Revising Objectives
1.4.1 Definition and Importance
1.4.2 Internal vs. External Stakeholders
1.4.3 Managing Stakeholder Relationships
1.5.1 Macro vs. Micro Environment
1.5.2 PESTLE Analysis
1.5.3 SWOT Analysis
1.6.1 Stages of Business Growth
1.6.2 Expansion Strategies
1.6.3 Challenges of Growth
1.7.1 Strategic vs. Tactical Planning
1.7.2 Resource Allocation
1.7.3 Monitoring and Evaluation
Definition of HRM
2.1.2 Historical Evolution of HRM
2.1.3 Modern Trends in HRM
2.2.1 Definition and Importance
2.2.2 Types of Organisational Structures
2.2.3 Factors Influencing Organisational Structure
Leadership vs. Management
Leadership Styles
2.3.3 Role of Managers
2.4.1 Theories of Motivation
2.4.2 Motivational Techniques
2.4.3 Challenges in Motivating Employees
2.5.1 Definition and Importance
Factors Shaping Culture
2.5.3 Benefits and Challenges
Importance of Good Relations
2.6.2 Conflict Resolution
2.6.3 Role of Trade Unions
3.1.1 Internal Sources
3.1.2 External Sources
3.1.3 Short-term Financing
3.1.4 Long-term Financing
3.2.1 Fixed Costs
3.2.2 Variable Costs
3.2.3 Direct and Indirect Costs
3.2.4 Revenue Models
3.3.1 Concept of Break-even
3.3.2 Calculating Break-even Point
3.3.3 Margin of Safety
3.4.1 Components of Income Statement
3.4.2 Components of Balance Sheet
3.4.3 Understanding Cash Flow Statement
3.5.1 Gross Profit Margin
3.5.2 Net Profit Margin
3.5.3 Current and Quick Ratios
3.6.1 Inventory Turnover Ratio
3.6.2 Days Sales Outstanding (DSO)
3.6.3 Total Asset Turnover
3.7.1 Operating Cash Flow
3.7.2 Investing Cash Flow
3.7.3 Financing Cash Flow
3.8.1 Net Present Value (NPV)
3.8.2 Payback Period
3.8.3 Internal Rate of Return (IRR)
3.9.1 Purpose and Types of Budgets
3.9.2 Preparing a Budget
3.9.3 Monitoring and Adjusting Budgets
4.1.1 Definition of Marketing
4.1.2 Objectives of Marketing
4.1.3 Importance of Marketing in Business
4.2.1 Marketing Strategy vs. Tactics
4.2.2 Marketing Mix
4.2.3 Market Segmentation
4.3.1 Importance of Sales Forecasting
4.3.2 Methods of Sales Forecasting
4.3.3 Challenges in Sales Forecasting
4.4.1 Primary vs. Secondary Research
4.4.2 Methods of Data Collection
4.4.3 Analyzing and Interpreting Data
4.5.1 Product Strategies
4.5.2 Pricing Strategies
4.5.3 Promotion Strategies
4.5.4 Place (Distribution) Strategies
4.6.1 People
4.6.2 Process
4.6.3 Physical Evidence
4.7.1 Global vs. Local Marketing
4.7.2 Challenges in International Marketing
4.7.3 Strategies for International Marketing
4.8.1 Advantages and Disadvantages
4.8.2 E-commerce Business Models
4.8.3 Strategies for Effective E-commerce
5.1.1 Definition of Operations Management
5.1.2 Objectives of Operations Management
5.1.3 Importance in Business
5.2.1 Job Production
5.2.2 Batch Production
5.2.3 Mass Production
5.2.4 Continuous Production
5.3.1 Principles of Lean Production
5.3.2 Quality Assurance vs. Quality Control
5.3.3 Total Quality Management (TQM)
5.4.1 Factors Influencing Location Decisions
5.4.2 Relocation Considerations
5.4.3 Global vs. Local Location Strategies
5.5.1 Capacity Planning
5.5.2 Inventory Management
5.5.3 Just-in-Time (JIT) Production
5.6.1 Importance of R&D
5.6.2 R&D Strategies
5.6.3 Challenges in R&D
5.7.1 Understanding Business Crises
5.7.2 Developing a Contingency Plan
5.7.3 Role of Leadership in Crisis Management

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