https://www.odigia.com/introduction-to-business/

Course introduction

The business management course equips students with essential knowledge and tools for effective decision-making in the global business environment. It emphasizes the development of confident, creative, and compassionate leaders who can drive change.

Through the exploration of four key concepts—creativity, change, ethics, and sustainability—students learn to apply these principles to business functions, management processes, and strategic decision-making. The course covers how internal and external factors influence business decisions and their impact on stakeholders.

A focus is placed on real-world examples at local, national, and global levels. The internal assessment (IA) involves a business research project, allowing students to analyze and evaluate business practices through the course's interdisciplinary concepts.

General objective

 The general objective of the Business Management course in the IB program is to develop students' understanding of business principles, practices, and decision-making processes in a global context. It aims to equip students with the knowledge, skills, and attitudes necessary to become effective and responsible leaders, entrepreneurs, and change agents in a rapidly evolving business environment. The course fosters critical thinking, ethical decision-making, and a deep understanding of the interconnectedness of business functions, preparing students to navigate and impact the complex global marketplace.

 Methodology

 The methodology for the IB Business Management course emphasizes an interactive and multi-faceted approach to learning, designed to meet the course's assessment criteria. By blending theoretical instruction with practical applications—through case studies, debates, presentations, and data analysis—students are engaged in a comprehensive learning process. This approach ensures that students not only gain a deep understanding of business concepts but also develop critical thinking, analytical, and communication skills necessary for success in both assessments and real-world business environments.

To effectively cover the four assessment criteria (AO1–AO4) in the IB Business Management course, a diverse and interactive methodology should be employed. Here are some recommended approaches:

1. AO1—Knowledge and Understanding

• Lectures and Reading Assignments: Provide foundational knowledge on business concepts, theories, and terminology.
• Interactive Quizzes: Reinforce understanding through regular quizzes that test knowledge retention.
• Class Discussions: Encourage discussions on key concepts to deepen comprehension.

2. AO2—Application and Analysis

• Case Studies: Use real-world business cases to analyze how concepts are applied in different scenarios.
• Role-Playing: Simulate business situations where students apply theoretical knowledge to practical problems.
• Problem-Solving Exercises: Encourage students to solve business-related problems by applying concepts learned.

3. AO3—Synthesis and Evaluation

• Debates: Organize debates on ethical dilemmas or strategic decisions to help students evaluate different perspectives.
• Research Projects: Assign projects where students synthesize information from various sources to evaluate business strategies.
• Round Tables: Facilitate round-table discussions where students critically assess business decisions and their implications.

4. AO4—Use and Application of Appropriate Skills

• Presentations: Develop communication and presentation skills by having students present their analysis and findings.
• Written Analysis: Assign essays or reports that require students to articulate their understanding and evaluation of business scenarios.
• Data Interpretation: Incorporate exercises that involve interpreting financial data, market research, and other business information.
• Workshops: Conduct workshops on specific skills such as financial modeling, SWOT analysis, or strategic planning.

By integrating these methodologies, the course will effectively address the four assessment criteria, ensuring students not only understand business concepts but can also apply, analyze, evaluate, and communicate them effectively.

Content

 Unit 1: Introduction to business management 1.1 What is a business? 1.2 Types of business entities 1.3 Business objectives 1.4 Stakeholders 1.5 Growth and evolution 1.6 Multinational companies (MNCs)

 Unit 3: Finance and accounts 3.1 Introduction to finance 3.2 Sources of finance 3.3 Costs and revenues 3.4 Final accounts 3.5 Profitability and liquidity ratio analysis 3.6 Efficiency ratio analysis (HL only) 3.7 Cash flow 3.8 Investment appraisal 3.9 Budgets (HL only)

 Unit 4: Marketing 4.1 Introduction to marketing 4.2 Marketing planning 4.3 Sales forecasting (HL only) 4.4 Market research 4.5 The seven Ps of the marketing mix 4.6 International marketing (HL only)

 Business management toolkit

 Paper 2 preparation (Mock tests)

 Criteria: 11 T A

1.     Workshops       25 %

2.     Mocks tests      20 %

3.     Presentations   10 %

4.     Debates            10 %

5.     Essays              10 %