Business Management is a dynamic, rigorous, and challenging subject that addresses the rationale for forming organisations and the principles, practices and skills commonly employed to make the decisions that make them successful. Even though no previous knowledge of the subject is needed a reasonable level of numeracy and the ability to do research is a key for the subject.
The course is designed to provide for students’ progression to higher education. The teaching of the subject is supported through case studies and examples from newspaper/online articles and real-world resources. Emphasis is placed on the six concepts of change, culture, ethics, innovation, strategy and globalization in relationship to businesses. The relationship between concepts, context and content can be summarized as below:
The Business Management course aims to:
- Promote the importance of exploring business issues from different perspectives.
- Encourage a holistic view of the world of business and the application of ethical concerns and CSR locally and globally.
- Enhance the student’s ability to think critically and make ethical and strategic decisions in all business functions.
- Enable the students to appreciate the pace, nature and significance of change, globalization and innovation on businesses.
Main topics covered in the course:
- Business Organisations and Environment
- Different types of business organisations
- Organisational Objectives
- Stakeholders (Internal and External)
- External environment of business
- Growth and evolution of businesses
- Human Resources Management
- Functions of human resource management
- Organisational structure
- Leadership and management
- Organisational (corporate) culture
- Finance and Accounts
- Sources of Finance
- Break-even analysis
- Final Accounts and accounting ratios
- Investment appraisal
- Marketing planning and sales forecasting
- Market research
- Marketing mix (and extended marketing mix)
- International trade
- Operations Management
- Production methods
- Lean production and quality management
- Production planning and R&D
- Crisis management and contingency planning
Assessment: Internal Assessment (25%)
Standard Level (SL)
A written commentary that allows students to demonstrate the application of business management tools, techniques and theories to a business issue or problem. Students are to:
- select a real business issue or problem related to the SL syllabus.
- produce a written commentary on that issue/problem that not exceeding 1,500 words.
- attach to the commentary three to five supporting documents from which most of the information for the commentary has been obtained.
- fully reference all documents and additional sources including them in a bibliography.
Higher Level (HL)
A research project that allows students to demonstrate the application of their skills and knowledge to a real business issues or a business decision. Students are to:
- design and undertake an investigation and research that addresses a real issue/decision facing a business organization or a range of organisations.
- base their research project on primary research they gather from the organization investigated (secondary research may be used as support)
- produce a research proposal (of maximum 500 words), including an action plan, to be used as the primary planning document.
- Produce a report of not more than 2000 words based on the research proposal.
Assessment: External Assessment (25%)
Paper 1 (Pre-issued Case Study)
Section A: 2 out of 3
Section B: 1 compulsory question
Section C: 1 compulsory question (HL only)
Paper 2 (Structured Questions)
Section A: 1 out of 2
Section B: 1 out of 3 (SL)
Section B: 2 out of 3 (HL)
Section C: 1 out of 3
University Courses and Careers
A background in business is helpful in a wide variety of disciplines, particularly in the study of Law, International Studies, Political Sciences, a wide range of business-related courses, and certain Engineering courses.
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