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style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38862/getting-started" title="Getting started">Getting started</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21712/resources-for-ib-dp-business-management" title="Resources for IB DP Business Management">Resources for IB DP Business Management</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45691/old-course-n23" title="Old course (N23)">Old course (N23)</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21706/unit-1" title="Unit 1">Unit 1</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21759/11-introduction-to-business-management" title="1.1 Introduction to business management">1.1 Introduction to business management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/30793/11-comprehension-questions" title="1.1 Comprehension questions">1.1 Comprehension questions</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24499/glossary-introduction-to-business-management" title="Glossary: Introduction to business management">Glossary: Introduction to business management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21766/12-types-of-organizations" title="1.2 Types of organizations">1.2 Types of organizations</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22276/the-private-and-the-public-sectors" title="The private and the public sectors">The private and the public sectors</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/30794/12-comprehension-questions" title="1.2 Comprehension questions">1.2 Comprehension questions</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/23724/glossary" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21761/13-organizational-objectives" title="1.3 Organizational objectives">1.3 Organizational objectives</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/30796/13-comprehension-questions" title="1.3 Comprehension questions">1.3 Comprehension questions</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22238/glossary" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21762/14-stakeholders" title="1.4 Stakeholders">1.4 Stakeholders</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/30801/14-comprehension-questions" title="1.4 Comprehension Questions">1.4 Comprehension Questions</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21946/glossary-stakeholders" title="Glossary - Stakeholders">Glossary - Stakeholders</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21763/15-external-environment" title="1.5 External environment">1.5 External environment</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24494/glossary-external-environment" title="Glossary: External environment">Glossary: External environment</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="1.6 Growth and evolution">1.6 Growth and evolution</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22300/mncs-quiz" title="MNCs Quiz">MNCs Quiz</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24021/glossary-growth-and-evolution" title="Glossary: Growth and evolution">Glossary: Growth and evolution</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21765/17-organizational-planning-tools-hl-only" title="1.7 Organizational planning tools (HL only)">1.7 Organizational planning tools (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24500/glossary-organizational-planning-tools-hl" title="Glossary: Organizational planning tools (HL)">Glossary: Organizational planning tools (HL)</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21699/unit-2" title="Unit 2">Unit 2</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21753/21-functions-evolution-of-hrm" title="2.1 Functions & evolution of HRM">2.1 Functions & evolution of HRM</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25388/glossary" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21754/22-organizational-structure" title="2.2 Organizational structure">2.2 Organizational structure</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25471/glossary-organizational-structure" title="Glossary: Organizational structure">Glossary: Organizational structure</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21755/23-leadership-and-management" title="2.3 Leadership and management">2.3 Leadership and management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24733/glossary-leadership-management" title="Glossary: Leadership & Management">Glossary: Leadership & Management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24745/24-motivation" title="2.4 Motivation">2.4 Motivation</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24719/glossary-motivation" title="Glossary: Motivation">Glossary: Motivation</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21757/25-organizational-culture-hl-only" title="2.5 Organizational culture (HL only)">2.5 Organizational culture (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25243/glossary-organizational-culture" title="Glossary: Organizational culture">Glossary: Organizational culture</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21758/26-industrialemployee-relations-hl-only" title="2.6 Industrial/employee relations (HL only)">2.6 Industrial/employee relations (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25125/glossary-industrialemployee-relations" title="Glossary: Industrial/employee relations">Glossary: Industrial/employee relations</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21670/unit-3" title="Unit 3">Unit 3</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21744/31-sources-of-finance" title="3.1 Sources of finance">3.1 Sources of finance</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24501/glossary-sources-of-finance" title="Glossary: Sources of finance">Glossary: Sources of finance</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21745/32-costs-and-revenues" title="3.2 Costs and revenues">3.2 Costs and revenues</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22092/glossary-costs-revenues" title="Glossary: Costs & revenues">Glossary: Costs & revenues</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21746/33-break-even-analysis" title="3.3 Break-even analysis">3.3 Break-even analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22270/contribution-analysis" title="Contribution analysis">Contribution analysis</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22093/glossary-break-even-analysis" title="Glossary: Break-even analysis">Glossary: Break-even analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21747/34-final-accounts" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/31367/glossary-final-accounts" title="Glossary: Final accounts">Glossary: Final accounts</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21748/35-profitability-and-liquidity-ratio-analysis" title="3.5 Profitability and liquidity ratio analysis">3.5 Profitability and liquidity ratio analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25111/glossary-profitability-and-liquidity-ratio-analysis" title="Glossary: Profitability and liquidity ratio analysis">Glossary: Profitability and liquidity ratio analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21749/36-efficiency-ratio-analysis-hl-only" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25114/glossary-efficiency-ratios" title="Glossary: Efficiency ratios">Glossary: Efficiency ratios</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21750/37-cash-flow" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25118/cash-flow-forecasts" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/31376/glossary-cash-flow" title="Glossary: Cash flow">Glossary: Cash flow</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21751/38-investment-appraisal" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/31377/glossary-investment-appraisal-" title="Glossary: Investment appraisal ">Glossary: Investment appraisal </a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21752/39-budgets-hl-only" title="3.9 Budgets (HL only)">3.9 Budgets (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/31378/39-budgets-hl-only-glossary" title="3.9 Budgets (HL Only) Glossary">3.9 Budgets (HL Only) Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21684/unit-4" title="Unit 4">Unit 4</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21767/41-the-role-of-marketing" title="4.1 The role of marketing">4.1 The role of marketing</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25618/glossary-the-role-of-marketing" title="Glossary: The role of marketing">Glossary: The role of marketing</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21768/42-marketing-planning" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/28328/glossary-marketing-planning" title="Glossary: Marketing planning">Glossary: Marketing planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21769/43-sales-forecasting-hl-only" title="4.3 Sales forecasting (HL only)">4.3 Sales forecasting (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25713/glossary-sales-forecasting" title="Glossary: Sales forecasting">Glossary: Sales forecasting</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21713/44-market-research" title="4.4 Market research">4.4 Market research</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25208/glossary-market-research" title="Glossary: Market research">Glossary: Market research</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21770/45-the-four-ps" title="4.5 The four Ps">4.5 The four Ps</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Product">Product</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22627/glossary-product" title="Glossary: Product">Glossary: Product</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22525/price" title="Price">Price</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22548/glossary-price" title="Glossary: Price">Glossary: Price</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22567/promotion" title="Promotion">Promotion</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22704/45-promotion-glossary" title="4.5 Promotion - Glossary">4.5 Promotion - Glossary</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22745/place" title="Place">Place</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/23813/45-place-glossary" title="4.5 Place - Glossary">4.5 Place - Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21774/46-the-extended-marketing-mix-7-ps-hl" title="4.6 The extended marketing mix (7 Ps) (HL)">4.6 The extended marketing mix (7 Ps) (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/23814/glossary-the-extended-marketing-mix-hl" title="Glossary: The extended marketing mix (HL)">Glossary: The extended marketing mix (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21772/47-international-marketing-hl-only" title="4.7 International marketing (HL only)">4.7 International marketing (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/23815/glossary-international-marketing-hl" title="Glossary: International Marketing (HL)">Glossary: International Marketing (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21773/48-e-commerce" title="4.8 E-commerce">4.8 E-commerce</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/23797/glossary-e-commerce" title="Glossary: E-commerce">Glossary: E-commerce</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21688/unit-5" title="Unit 5">Unit 5</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21937/51-the-role-of-operations-management" title="5.1 The role of operations management">5.1 The role of operations management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24843/glossary" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21938/52-production-methods" title="5.2 Production methods">5.2 Production methods</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24848/glossary" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21939/53-lean-production-quality-management-hl" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24839/glossary-lean-production-and-quality-management" title="Glossary: Lean Production and quality management">Glossary: Lean Production and quality management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21700/54-location" title="5.4 Location">5.4 Location</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24959/glossary" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21695/55-production-planning-hl" title="5.5 Production planning (HL)">5.5 Production planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25032/glossary-production-planning" title="Glossary: Production planning">Glossary: Production planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33222/56-research-development-hl" title="5.6 Research & development (HL)">5.6 Research & development (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/34014/glossary-research-development" title="Glossary: Research & Development">Glossary: Research & Development</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21941/57-crisis-management-contingency-planning-hl" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25042/glossary" title="Glossary">Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25115/cuegis" title="CUEGIS">CUEGIS</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The 6 CUEGIS concepts">The 6 CUEGIS concepts</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Ethics">Ethics</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21954/mcdonalds-supersize-me" title="McDonald's - Supersize Me">McDonald's - Supersize Me</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The CUEGIS essay">The CUEGIS essay</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22876/planning-your-cuegis-essay" title="Planning your CUEGIS essay">Planning your CUEGIS essay</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33806/paper-2-section-c-questions" title="Paper 2 Section C Questions">Paper 2 Section C Questions</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33959/the-ia" title="The IA">The IA</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="HL IA">HL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22190/35-sample-research-questions-for-the-hl-ia" title="35 sample research questions for the HL IA">35 sample research questions for the HL IA</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22200/hl-ia-student-checklist" title="HL IA - Student Checklist">HL IA - Student Checklist</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33508/ia-hl-poster" title="IA HL Poster">IA HL Poster</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="SL IA">SL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22146/sl-ia-20-sample-titles" title="SL IA - 20 Sample Titles">SL IA - 20 Sample Titles</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38181/faq-about-the-sl-ia" title="FAQ about the SL IA">FAQ about the SL IA</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22114/exams" title="Exams">Exams</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22115/command-terms" title="Command Terms">Command Terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36599/glossary-of-key-terms" title="Glossary of key terms">Glossary of key terms</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38059/flashcards-revision" title="Flashcards - Revision">Flashcards - Revision</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38060/flashcards-revision-unit-1" title="Flashcards - Revision (Unit 1)">Flashcards - Revision (Unit 1)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38056/unit-11-revision-flashcards" title="Unit 1.1 Revision Flashcards">Unit 1.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38061/unit-12-revision-flashcards" title="Unit 1.2 Revision Flashcards">Unit 1.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38067/unit-13-revision-flashcards" title="Unit 1.3 Revision Flashcards">Unit 1.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38092/unit-14-revision-flashcards" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38096/unit-15-revision-flashcards" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38102/unit-16-revision-flashcards" title="Unit 1.6 Revision Flashcards">Unit 1.6 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38103/unit-17-revision-flashcards" title="Unit 1.7 Revision Flashcards">Unit 1.7 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38114/flashcards-revision-unit-2" title="Flashcards - Revision (Unit 2)">Flashcards - Revision (Unit 2)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38121/unit-21-revision-flashcards" title="Unit 2.1 Revision Flashcards">Unit 2.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38125/unit-22-revision-flashcards" title="Unit 2.2 Revision Flashcards">Unit 2.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38126/unit-23-revision-flashcards" title="Unit 2.3 Revision Flashcards">Unit 2.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38144/unit-24-revision-flashcards" title="Unit 2.4 Revision Flashcards">Unit 2.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38146/unit-25-revision-flashcards" title="Unit 2.5 Revision Flashcards">Unit 2.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38147/unit-26-revision-flashcards-hl-only" title="Unit 2.6 Revision Flashcards (HL only)">Unit 2.6 Revision Flashcards (HL only)</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38149/flashcards-revision-unit-3" title="Flashcards - Revision (Unit 3)">Flashcards - Revision (Unit 3)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38153/unit-31-revision-flashcards" title="Unit 3.1 Revision Flashcards">Unit 3.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38154/unit-32-revision-flashcards" title="Unit 3.2 Revision Flashcards">Unit 3.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38182/unit-33-revision-flashcards" title="Unit 3.3 Revision Flashcards">Unit 3.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38183/unit-34-revision-flashcards" title="Unit 3.4 Revision Flashcards">Unit 3.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38191/unit-35-revision-flashcards" title="Unit 3.5 Revision Flashcards">Unit 3.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38192/unit-36-revision-flashcards-hl" title="Unit 3.6 Revision Flashcards (HL)">Unit 3.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38193/unit-37-revision-flashcards" title="Unit 3.7 Revision Flashcards">Unit 3.7 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38194/unit-38-revision-flashcards" title="Unit 3.8 Revision Flashcards">Unit 3.8 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38195/unit-39-revision-flashcards" title="Unit 3.9 Revision Flashcards">Unit 3.9 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38196/flashcards-revision-unit-4" title="Flashcards - Revision (Unit 4)">Flashcards - Revision (Unit 4)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38198/unit-41-revision-flashcards" title="Unit 4.1 Revision Flashcards">Unit 4.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38203/unit-42-revision-flashcards" title="Unit 4.2 Revision Flashcards">Unit 4.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38217/unit-43-revision-flashcards" title="Unit 4.3 Revision Flashcards">Unit 4.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38218/unit-44-revision-flashcards" title="Unit 4.4 Revision Flashcards">Unit 4.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38219/unit-45a-product-revision-flashcards" title="Unit 4.5a Product Revision Flashcards">Unit 4.5a Product Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38220/unit-45b-price-revision-flashcards" title="Unit 4.5b Price Revision Flashcards">Unit 4.5b Price Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38221/unit-45c-promotion-revision-flashcards" title="Unit 4.5c Promotion Revision Flashcards">Unit 4.5c Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38222/unit-45d-promotion-revision-flashcards" title="Unit 4.5d Promotion Revision Flashcards">Unit 4.5d Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38223/unit-46-revision-flashcards-hl" title="Unit 4.6 Revision Flashcards (HL)">Unit 4.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38224/unit-47-revision-flashcards-hl" title="Unit 4.7 Revision Flashcards (HL)">Unit 4.7 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38225/unit-48-e-commerce-flashcards" title="Unit 4.8 E-commerce Flashcards">Unit 4.8 E-commerce Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38232/flashcards-revision-unit-5" title="Flashcards - Revision (Unit 5)">Flashcards - Revision (Unit 5)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38233/unit-51-revision-flashcards" title="Unit 5.1 Revision Flashcards">Unit 5.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38234/unit-52-revision-flashcards" title="Unit 5.2 Revision Flashcards">Unit 5.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38235/unit-53-revision-flashcards-hl" title="Unit 5.3 Revision Flashcards (HL)">Unit 5.3 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38236/unit-54-revision-flashcards" title="Unit 5.4 Revision Flashcards">Unit 5.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38237/unit-55-revision-flashcards-hl" title="Unit 5.5 Revision Flashcards (HL)">Unit 5.5 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38238/unit-56-revision-flashcards-hl" title="Unit 5.6 Revision Flashcards (HL)">Unit 5.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38239/unit-57-revision-flashcards-hl" title="Unit 5.7 Revision Flashcards (HL)">Unit 5.7 Revision Flashcards (HL)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33830/formulae-quiz" title="Formulae Quiz">Formulae Quiz</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 1 Pre-release case study">Paper 1 Pre-release case study</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44969/n22-case-study-ele-plc" title="N22 Case Study (ELE PLC)">N22 Case Study (ELE PLC)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M22 (Peacewick Uni)">M22 (Peacewick Uni)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44106/additional-exam-questions-paper-1" title="Additional exam questions (Paper 1)">Additional exam questions (Paper 1)</a></li></ul><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/32840/may-2020-p-s-trawlers" title="May 2020 (P&S Trawlers)">May 2020 (P&S Trawlers)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M23 Paper 1">M23 Paper 1</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/47825/paper-1-svt-study-guide-shirin-karimi" title="Paper 1 SVT Study Guide (Shirin Karimi)">Paper 1 SVT Study Guide (Shirin Karimi)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/26095/exam-study-tips-resources" title="Exam & Study tips (resources)">Exam & Study tips (resources)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/31342/revision-exams-top-tips" title="Revision & Exams - Top tips">Revision & Exams - Top tips</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/47460/top-tips-for-m23-exams" title="Top Tips for M23 Exams">Top Tips for M23 Exams</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43522/unit-1-intro-to-bm" title="Unit 1 - Intro to BM">Unit 1 - Intro to BM</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44034/11-what-is-a-business" title="1.1 What is a business?">1.1 What is a business?</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44112/the-nature-of-business" title="The nature of business">The nature of business</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44052/primary-secondary-tertiary-quaternary-sectors" title="Primary, secondary, tertiary, & quaternary sectors">Primary, secondary, tertiary, & quaternary sectors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44327/entrepreneurship" title="Entrepreneurship">Entrepreneurship</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44040/challenges-opportunities-for-starting-a-business" title="Challenges & opportunities for starting a business">Challenges & opportunities for starting a business</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45442/11-true-or-false-quiz" title="1.1 True or False Quiz">1.1 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45581/11-revision-flashcards" title="1.1 Revision Flashcards">1.1 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43662/11-glossary-of-key-terms" title="1.1 Glossary of key terms">1.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44016/12-types-of-business-entities" title="1.2 Types of business entities">1.2 Types of business entities</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44065/public-private-sectors" title="Public & private sectors">Public & private sectors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44119/types-of-for-profit-organizations" title="Types of for-profit organizations">Types of for-profit organizations</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44015/for-profit-social-enterprises" title="For-profit social enterprises">For-profit social enterprises</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44128/non-profit-social-enterprises" title="Non-profit social enterprises">Non-profit social enterprises</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45443/true-or-false-quiz" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45582/12-revision-flashcards" title="1.2 Revision Flashcards">1.2 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45550/12-glossary-of-key-terms" title="1.2 Glossary of key terms">1.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44041/13-business-objectives" title="1.3 Business objectives">1.3 Business objectives</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44132/vision-and-mission-statements" title="Vision and mission statements">Vision and mission statements</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44160/common-business-objectives" title="Common business objectives">Common business objectives</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44180/strategic-tactical-objectives" title="Strategic & tactical objectives">Strategic & tactical objectives</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44171/corporate-social-responsibility" title="Corporate social responsibility">Corporate social responsibility</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45583/13-revision-flashcards" title="1.3 Revision Flashcards">1.3 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45446/true-or-false-quiz" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43663/13-glossary-of-key-terms" title="1.3 Glossary of Key terms">1.3 Glossary of Key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44044/14-stakeholders" title="1.4 Stakeholders">1.4 Stakeholders</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44188/the-interests-of-stakeholders" title="The interests of stakeholders">The interests of stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44189/conflict-between-stakeholders" title="Conflict between stakeholders">Conflict between stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45584/unit-14revision-flashcards" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45447/14-true-or-false" title="1.4 True or False">1.4 True or False</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43671/14-glossary-of-key-terms" title="1.4 Glossary of Key terms">1.4 Glossary of Key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44045/15-growth-and-evolution" title="1.5 Growth and evolution">1.5 Growth and evolution</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44212/economies-diseconomies-of-scale" title="Economies & diseconomies of scale">Economies & diseconomies of scale</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44214/internal-and-external-growth" title="Internal and external growth">Internal and external growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44220/external-growth-methods" title="External growth methods">External growth methods</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44219/reasons-to-grow-or-stay-small" title="Reasons to grow or stay small">Reasons to grow or stay small</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45586/unit-15revision-flashcards" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45450/true-or-false-quiz" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43673/15-glossary-of-key-terms" title="1.5 Glossary of key terms">1.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44046/16-multinational-companies" title="1.6 Multinational companies">1.6 Multinational companies</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44236/the-impact-of-mncs-on-host-countries-ao3" title="The impact of MNCs on host countries (AO3)">The impact of MNCs on host countries (AO3)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44240/video-documentaries-mncs" title="Video documentaries - MNCs">Video documentaries - MNCs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45587/16-glossary-of-key-terms" title="1.6 Glossary of key terms">1.6 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43530/unit-2-hrm" title="Unit 2 - HRM">Unit 2 - HRM</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44253/21-introduction-to-hrm" title="2.1 Introduction to HRM">2.1 Introduction to HRM</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44256/role-of-hrm" title="Role of HRM">Role of HRM</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44257/factors-that-influence-hr-planning" title="Factors that influence HR planning">Factors that influence HR planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44282/reasons-for-resistance-to-change" title="Reasons for resistance to change">Reasons for resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44283/hr-strategies-for-reducing-the-impact-of-change-resistance-to-ch" title="HR strategies for reducing the impact of change & resistance to change">HR strategies for reducing the impact of change & resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45458/21-true-or-false-quiz" title="2.1 True or False quiz">2.1 True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43677/21-glossary-of-key-terms" title="2.1 Glossary of key terms">2.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43875/22-organizational-structure" title="2.2 Organizational structure">2.2 Organizational structure</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44296/terminology-for-understanding-organizational-structures" title="Terminology for understanding organizational structures">Terminology for understanding organizational structures</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44310/types-of-organization-charts" title="Types of organization charts">Types of organization charts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44323/appropriateness-of-organizational-structures-and-external-factor" title="Appropriateness of organizational structures and external factors">Appropriateness of organizational structures and external factors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44316/changes-in-organizational-structures-hl" title="Changes in organizational structures (HL)">Changes in organizational structures (HL)</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44338/23-leadership-and-management" title="2.3 Leadership and management">2.3 Leadership and management</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44343/scientific-intuitive-management-hl" title="Scientific & intuitive management (HL)">Scientific & intuitive management (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44339/management-and-leadership" title="Management and leadership">Management and leadership</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44340/leadership-styles" title="Leadership styles">Leadership styles</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45462/23-true-or-false-quiz" title="2.3 True or False Quiz">2.3 True or False Quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43829/24-motivation-and-demotivation" title="2.4 Motivation and demotivation">2.4 Motivation and demotivation</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44349/motivation-theories-sl-hl" title="Motivation theories (SL & HL)">Motivation theories (SL & HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44353/motivation-theories-hl" title="Motivation theories (HL)">Motivation theories (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44354/labour-turnover-hl" title="Labour turnover (HL)">Labour turnover (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44361/types-of-appraisal-hl" title="Types of appraisal (HL)">Types of appraisal (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44383/methods-of-recruitment-hl" title="Methods of recruitment (HL)">Methods of recruitment (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44382/internal-external-recruitment-hl" title="Internal & external recruitment (HL)">Internal & external recruitment (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44363/types-of-financial-rewards" title="Types of financial rewards">Types of financial rewards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44370/types-of-non-financial-rewards" title="Types of non-financial rewards">Types of non-financial rewards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44371/types-of-training" title="Types of training">Types of training</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44390/25-organizational-corporate-culture-hl" title="2.5 Organizational (corporate) culture (HL)">2.5 Organizational (corporate) culture (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44392/organizational-culture-hl" title="Organizational culture (HL)">Organizational culture (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44393/types-of-organizational-culture-hl" title="Types of organizational culture (HL)">Types of organizational culture (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44394/cultural-clashes-hl" title="Cultural clashes (HL)">Cultural clashes (HL)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44247/26-communication" title="2.6 Communication">2.6 Communication</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43545/unit-3-finance" title="Unit 3 - Finance">Unit 3 - Finance</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44435/31-introduction-to-finance" title="3.1 Introduction to finance">3.1 Introduction to finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44431/31-introduction-to-finance-role-of-finance" title="3.1 Introduction to finance - role of finance">3.1 Introduction to finance - role of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45634/31-glossary-of-key-term" title="3.1 Glossary of key term">3.1 Glossary of key term</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44436/32-sources-of-finance" title="3.2 Sources of finance">3.2 Sources of finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44437/internal-sources-of-finance" title="Internal sources of finance">Internal sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44450/external-sources-of-finance" title="External sources of finance">External sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44479/appropriateness-of-sources-of-finance" title="Appropriateness of sources of finance">Appropriateness of sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45483/32-true-or-false-quiz" title="3.2 True or False Quiz">3.2 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43688/32-glossary-of-key-terms" title="3.2 Glossary of key terms">3.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44486/33-costs-and-revenues" title="3.3 Costs and revenues">3.3 Costs and revenues</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44487/types-of-costs" title="Types of costs">Types of costs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44491/total-revenue-revenue-streams" title="Total revenue & revenue streams">Total revenue & revenue streams</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45484/33-true-or-false-quiz" title="3.3 True or false quiz">3.3 True or false quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45657/33-glossary-of-key-terms" title="3.3 Glossary of key terms">3.3 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44492/34-final-accounts" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44527/the-purpose-of-accounts-to-different-stakeholders" title="The purpose of accounts to different stakeholders">The purpose of accounts to different stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44577/profit-loss-account" title="Profit & loss account">Profit & loss account</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44579/balance-sheets" title="Balance sheets">Balance sheets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44560/types-of-intangible-assets" title="Types of intangible assets">Types of intangible assets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44585/depreciation-hl" title="Depreciation (HL)">Depreciation (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45919/34-true-or-false-quiz" title="3.4 True or False Quiz">3.4 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45658/34-glossary-of-key-terms" title="3.4 Glossary of key terms">3.4 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44593/35-profitability-liquidity-ratio-analysis" title="3.5 Profitability & liquidity ratio analysis">3.5 Profitability & liquidity ratio analysis</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44595/profitability-ratios" title="Profitability ratios">Profitability ratios</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44626/liquidity-ratios" title="Liquidity ratios">Liquidity ratios</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45486/35-true-or-false-quiz" title="3.5 True or False Quiz">3.5 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45661/35-glossary-of-key-terms" title="3.5 Glossary of key terms">3.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44627/36-efficiency-ratio-analysis-hl-only" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44805/efficiency-ratios-hl" title="Efficiency ratios (HL)">Efficiency ratios (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44633/insolvency-versus-bankruptcy" title="Insolvency versus bankruptcy">Insolvency versus bankruptcy</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45488/36-true-or-false-quiz" title="3.6 True or False Quiz">3.6 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45662/36-glossary-of-key-terms" title="3.6 Glossary of key terms">3.6 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44493/37-cash-flow" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44502/the-difference-between-profit-cash-flow" title="The difference between profit & cash flow">The difference between profit & cash flow</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44506/working-capital" title="Working capital">Working capital</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44557/liquidity-position" title="Liquidity position">Liquidity position</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44558/cash-flow-forecasts" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44507/relationship-between-investment-profit-cash-flow" title="Relationship between investment, profit & cash flow">Relationship between investment, profit & cash flow</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44509/strategies-for-dealing-with-cash-flow-problems" title="Strategies for dealing with cash flow problems">Strategies for dealing with cash flow problems</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45493/37-true-or-false" title="3.7 True or False">3.7 True or False</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43687/37-glossary-of-key-terms" title="3.7 Glossary of key terms">3.7 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44515/38-investment-appraisal" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44516/payback-period-average-rate-of-return" title="Payback period & Average rate of return">Payback period & Average rate of return</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44519/net-present-value-npv-hl" title="Net present value (NPV) (HL)">Net present value (NPV) (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45494/38-true-or-false-quiz" title="3.8 True or False Quiz">3.8 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43693/38-glossary-of-key-terms" title="3.8 Glossary of key terms">3.8 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44564/39-budgets-hl" title="3.9 Budgets (HL)">3.9 Budgets (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44565/the-difference-between-cost-profit-centres" title="The difference between cost & profit centres">The difference between cost & profit centres</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44568/the-roles-of-cost-profit-centres" title="The roles of cost & profit centres">The roles of cost & profit centres</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44576/constructing-budgets" title="Constructing budgets">Constructing budgets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44569/variances" title="Variances">Variances</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44571/the-importance-of-budgets-variances" title="The importance of budgets & variances">The importance of budgets & variances</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45495/39-true-or-false-quiz" title="3.9 True or False Quiz">3.9 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43694/39-glossary-of-key-terms" title="3.9 Glossary of key terms">3.9 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43547/unit-4-marketing" title="Unit 4 - Marketing">Unit 4 - Marketing</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44637/41-introduction-to-marketing" title="4.1 Introduction to marketing">4.1 Introduction to marketing</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44638/market-orientation-vs-product-orientation" title="Market orientation vs Product orientation">Market orientation vs Product orientation</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44639/market-share" title="Market share">Market share</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44641/market-growth" title="Market growth">Market growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44642/importance-of-market-share-market-leadership-hl" title="Importance of market share & market leadership (HL)">Importance of market share & market leadership (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43695/41-glossary-of-key-terms" title="4.1 Glossary of key terms">4.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43823/42-marketing-planning" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44645/the-role-of-marketing-planning" title="The role of marketing planning">The role of marketing planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44654/segmentation-targeting-and-positioning" title="Segmentation, targeting, and positioning">Segmentation, targeting, and positioning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44646/difference-between-niche-mass-market" title="Difference between niche & mass market">Difference between niche & mass market</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43821/the-importance-of-having-a-usp" title="The importance of having a USP">The importance of having a USP</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44655/how-organizations-differentiate-themselves" title="How organizations differentiate themselves">How organizations differentiate themselves</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43834/42-vocab-quiz" title="4.2 Vocab Quiz">4.2 Vocab Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45528/42-true-or-false-quiz" title="4.2 True or False Quiz">4.2 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43696/42-glossary-of-key-terms" title="4.2 Glossary of key terms">4.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44660/43-sales-forecasting-hl" title="4.3 Sales forecasting (HL)">4.3 Sales forecasting (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44669/benefits-limitations-of-sales-forecasting" title="Benefits & limitations of sales forecasting">Benefits & limitations of sales forecasting</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45530/43-true-or-false-quiz" title="4.3 True or False Quiz">4.3 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43711/43-glossary-of-key-terms" title="4.3 Glossary of key terms">4.3 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44679/44-market-research" title="4.4 Market research">4.4 Market research</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44680/why-how-organizations-carry-out-market-research" title="Why & how organizations carry out market research">Why & how organizations carry out market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44692/methodstechniques-of-primary-market-research" title="Methods/techniques of primary market research">Methods/techniques of primary market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44693/methodstechniques-of-secondary-market-research" title="Methods/techniques of secondary market research">Methods/techniques of secondary market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44694/qualitative-quantitative-research" title="Qualitative & quantitative research">Qualitative & quantitative research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44695/methods-of-sampling" title="Methods of sampling">Methods of sampling</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45531/44-true-or-false-quiz" title="4.4 True or False Quiz">4.4 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43712/44-glossary-of-key-terms" title="4.4 Glossary of key terms">4.4 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44720/45-the-seven-ps-of-the-marketing-mix" title="4.5 The seven Ps of the marketing mix">4.5 The seven Ps of the marketing mix</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44740/451-product" title="4.5.1 Product">4.5.1 Product</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44741/the-product-life-cycle" title="The product life cycle">The product life cycle</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44745/extension-strategies" title="Extension strategies">Extension strategies</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44981/relationship-between-the-plc-investment-profit-cash-flow" title="Relationship between the PLC, investment, profit & cash flow">Relationship between the PLC, investment, profit & cash flow</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44748/aspects-of-branding" title="Aspects of branding">Aspects of branding</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44757/the-importance-of-branding" title="The importance of branding">The importance of branding</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45766/starterplenary-activity-anagrams-quiz-brands" title="Starter/Plenary activity - Anagrams Quiz (Brands)">Starter/Plenary activity - Anagrams Quiz (Brands)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45957/starterplenary-activity-whats-in-a-brand-name" title="Starter/Plenary activity - What's in a (brand) name?">Starter/Plenary activity - What's in a (brand) name?</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43713/45-glossary-of-key-terms-product" title="4.5 Glossary of key terms (Product)">4.5 Glossary of key terms (Product)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42547/452-price" title="4.5.2 Price">4.5.2 Price</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43719/45-key-terms-price" title="4.5 Key Terms (Price)">4.5 Key Terms (Price)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44782/453-promotion" title="4.5.3 Promotion">4.5.3 Promotion</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44783/above-the-line-promotion" title="Above the line promotion">Above the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44795/below-the-line-promotion" title="Below the line promotion">Below the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44797/through-the-line-promotion" title="Through the line promotion">Through the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44801/social-media-marketing" title="Social media marketing">Social media marketing</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43721/45-glossary-of-key-terms" title="4.5 Glossary of key terms">4.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44803/454-place" title="4.5.4 Place">4.5.4 Place</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44804/the-importance-of-different-distribution-channels" title="The importance of different distribution channels">The importance of different distribution channels</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43722/45-glossary-of-key-terms" title="4.5 Glossary of key terms">4.5 Glossary of key terms</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44758/455-people" title="4.5.5 People">4.5.5 People</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44773/456-processes" title="4.5.6 Processes">4.5.6 Processes</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44774/457-physical-evidence" title="4.5.7 Physical evidence">4.5.7 Physical evidence</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44982/appropriate-marketing-mixes" title="Appropriate marketing mixes">Appropriate marketing mixes</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44697/46-international-marketing-hl" title="4.6 International marketing (HL)">4.6 International marketing (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44698/opportunities-threats-posed-by-entry-into-international-markets" title="Opportunities & threats posed by entry into international markets">Opportunities & threats posed by entry into international markets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45537/46-true-or-false-quiz" title="4.6 True or False Quiz">4.6 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45736/46-glossary-of-key-terms" title="4.6 Glossary of key terms">4.6 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43565/unit-5-operations-mgt" title="Unit 5 - Operations Mgt">Unit 5 - Operations Mgt</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44817/51-introduction-to-operations-management" title="5.1 Introduction to operations management">5.1 Introduction to operations management</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44818/the-role-of-operations-management" title="The role of operations management">The role of operations management</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44812/52-operations-methods" title="5.2 Operations methods">5.2 Operations methods</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44815/operations-methods" title="Operations methods">Operations methods</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44861/53-lean-production-quality-management-hl" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44864/features-of-lean-production" title="Features of lean production">Features of lean production</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44872/methods-of-lean-production" title="Methods of lean production">Methods of lean production</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44874/cradle-to-cradle-design-manufacturing" title="Cradle to cradle design & manufacturing">Cradle to cradle design & manufacturing</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44875/quality-control-quality-assurance" title="Quality control & quality assurance">Quality control & quality assurance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44876/methods-of-managing-quality" title="Methods of managing quality">Methods of managing quality</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44877/the-impact-of-lean-production-tqm" title="The impact of lean production & TQM">The impact of lean production & TQM</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44878/national-international-quality-standards" title="National & international quality standards">National & international quality standards</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44840/55-break-even-analysis" title="5.5 Break-even analysis">5.5 Break-even analysis</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44843/contribution" title="Contribution">Contribution</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44848/aspects-of-break-even-analysis" title="Aspects of break-even analysis">Aspects of break-even analysis</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44851/changes-in-price-and-costs" title="Changes in price and costs">Changes in price and costs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44852/limitations-of-break-even-analysis" title="Limitations of break-even analysis">Limitations of break-even analysis</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44890/56-production-planning-hl" title="5.6 Production planning (HL)">5.6 Production planning (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44902/the-local-global-supply-chain-process" title="The local & global supply chain process">The local & global supply chain process</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44922/the-difference-between-jit-jic" title="The difference between JIT & JIC">The difference between JIT & JIC</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44931/stock-control-charts" title="Stock control charts">Stock control charts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44970/capacity-utilization-rate" title="Capacity utilization rate">Capacity utilization rate</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45125/defect-rate" title="Defect rate">Defect rate</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43832/productivity" title="Productivity">Productivity</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45187/cost-to-buy-cost-to-make" title="Cost to buy & Cost to make">Cost to buy & Cost to make</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/46353/sinterklaas-putting-ctb-vs-ctm-into-practice" title="Sinterklaas - Putting CTB vs CTM into practice">Sinterklaas - Putting CTB vs CTM into practice</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45242/57-crisis-management-contingency-planning-hl" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45243/difference-between-crisis-management-contingency-planning" title="Difference between crisis management & contingency planning">Difference between crisis management & contingency planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45268/impact-of-contingency-planning" title="Impact of contingency planning">Impact of contingency planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45260/factors-that-affect-effective-crisis-management" title="Factors that affect effective crisis management">Factors that affect effective crisis management</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45554/57-true-or-false-quiz" title="5.7 True or False Quiz">5.7 True or False Quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45669/59-management-information-systems-hl" title="5.9 Management Information Systems (HL)">5.9 Management Information Systems (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42633/data-analytics" title="Data analytics">Data analytics</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45861/database" title="Database">Database</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44966/cybersecurity-and-cybercrime" title="Cybersecurity and cybercrime">Cybersecurity and cybercrime</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45859/critical-infrastructures" title="Critical infrastructures">Critical infrastructures</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/46175/virtual-reality" title="Virtual reality">Virtual reality</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45862/the-internet-of-things" title="The internet of things">The internet of things</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45858/artificial-intelligence" title="Artificial intelligence">Artificial intelligence</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42634/big-data" title="Big data">Big data</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43392/customer-loyalty-programmes" title="Customer loyalty programmes">Customer loyalty programmes</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43395/digital-taylorism" title="Digital Taylorism">Digital Taylorism</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45671/data-mining" title="Data mining">Data mining</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45856/benefits-risks-ethical-implications-of-mis" title="Benefits, risks, & ethical implications of MIS">Benefits, risks, & ethical implications of MIS</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42640/bmt-" title="BMT ">BMT </a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42553/bmt-1-swot-analysis" title="BMT 1 - SWOT analysis">BMT 1 - SWOT analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42406/bmt-2-ansoff-matrix" title="BMT 2 - Ansoff matrix">BMT 2 - Ansoff matrix</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44027/bmt-3-steeple-analysis" title="BMT 3 - STEEPLE analysis">BMT 3 - STEEPLE analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42577/bmt-4-boston-consulting-group-matrix" title="BMT 4 - Boston Consulting Group matrix">BMT 4 - Boston Consulting Group matrix</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42956/bmt-5-business-plans" title="BMT 5 - Business plans">BMT 5 - Business plans</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43606/bmt-6-decision-trees" title="BMT 6 - Decision trees">BMT 6 - Decision trees</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42362/bmt-7-descriptive-statistics" title="BMT 7 - Descriptive statistics">BMT 7 - Descriptive statistics</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42226/bmt-8-circular-business-models" title="BMT 8 - Circular Business Models">BMT 8 - Circular Business Models</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43605/bmt-9-gantt-chart-hl-only" title="BMT 9 - Gantt chart (HL only)">BMT 9 - Gantt chart (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42214/bmt-10-porters-generic-strategies-hl-only" title="BMT 10 - Porter's generic strategies (HL only)">BMT 10 - Porter's generic strategies (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42216/bmt-11-hofstedes-cultural-dimensions-hl-only" title="BMT 11 - Hofstede's cultural dimensions (HL only)">BMT 11 - Hofstede's cultural dimensions (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42372/bmt-12-force-field-analysis-hl-only" title="BMT 12 - Force field analysis (HL only)">BMT 12 - Force field analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42375/bmt-13-critical-path-analysis-hl-only" title="BMT 13 - Critical path analysis (HL only)">BMT 13 - Critical path analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42344/bmt-14-contribution-hl-only-" title="BMT 14 - Contribution (HL only) ">BMT 14 - Contribution (HL only) </a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42311/bmt-15-simple-linear-regression-hl-only" title="BMT 15 - Simple linear regression (HL only)">BMT 15 - Simple linear regression (HL only)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42758/concepts" title="Concepts">Concepts</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43633/creativity" title="Creativity">Creativity</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43631/ethics" title="Ethics">Ethics</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43435/sustainability" title="Sustainability">Sustainability</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43668/change" title="Change">Change</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42836/ia-" title="IA ">IA </a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44415/formulating-suitable-ia-questions" title="Formulating suitable IA questions">Formulating suitable IA questions</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/47685/supporting-documents-for-the-ia" title="Supporting documents for the IA">Supporting documents for the IA</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/47840/top-tips-for-the-ia-primary-research" title="Top tips for the IA – Primary research">Top tips for the IA – Primary research</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44047/50-sample-ia-research-questions" title="50+ Sample IA research questions">50+ Sample IA research questions</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/46719/recommended-format-for-the-ia" title="Recommended format for the IA">Recommended format for the IA</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43603/exams" title="Exams">Exams</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44091/paper-1" title="Paper 1">Paper 1</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 2">Paper 2</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/46637/01-ikea" title="01 - IKEA">01 - IKEA</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45839/quantitative-techniques" title="Quantitative techniques">Quantitative techniques</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/46025/abbreviations-quiz" title="Abbreviations Quiz">Abbreviations Quiz</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43740/command-terms" title="Command terms">Command terms</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45612/glossary-of-key-terms" title="Glossary of key terms">Glossary of key terms</a></li></ul><li class="ancestor parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33955/the-core" title="The Core">The Core</a></li><ul class="level-1 expanded"><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/34902/cas-bm" title="CAS & BM">CAS & BM</a></li><li class="ancestor parent" style="padding-left: 14px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21665/the-ee" title="The EE">The EE</a></li><ul class="level-2 expanded"><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21934/the-bm-extended-essay" title="The BM Extended Essay">The BM Extended Essay</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/32857/ee-planning-form" title="EE Planning form">EE Planning form</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/37390/managing-the-ee-process" title="Managing the EE process">Managing the EE process</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/37496/top-10-tips-for-the-bm-ee" title="Top 10 tips for the BM EE">Top 10 tips for the BM EE</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21930/70-top-bm-ee-research-questions" title="70 top BM EE Research Questions">70 top BM EE Research Questions</a></li><li class="current parent" style="padding-left: 28px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22196/tools-techniques-theories-for-the-ee" title="Tools, techniques & theories for the EE">Tools, techniques & theories for the EE</a></li><ul class="level-3 expanded"><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44048/the-triple-bottom-line" title="The triple bottom line">The triple bottom line</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21836/understanding-the-assessment-criteria" title="Understanding the assessment criteria">Understanding the assessment criteria</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/37960/reflections-and-engagement-in-the-ee" title="Reflections and engagement in the EE">Reflections and engagement in the EE</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/41874/the-mandatory-reflection-sessions" title="The mandatory reflection sessions">The mandatory reflection sessions</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/37659/top-10-tips-for-completing-the-rppf" title="Top 10 Tips for completing the RPPF">Top 10 Tips for completing the RPPF</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21945/academic-integrity-the-ee" title="Academic Integrity & the EE">Academic Integrity & the EE</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/37573/citation-and-referencing" title="Citation and Referencing">Citation and Referencing</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/39260/ee-checklist" title="EE Checklist">EE Checklist</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25192/tok-bm" title="TOK & BM">TOK & BM</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22100/misc" title="Misc">Misc</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22208/how-well-do-you-know-the-bm-course" title="How well do you know the BM course?">How well do you know the BM course?</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Distance Learning">Distance Learning</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/39730/financial-literacy-simulation-game" title="Financial literacy simulation game">Financial literacy simulation game</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/34551/starter-activities-business-management-trivia-quizzes" title="Starter Activities - Business Management Trivia Quizzes">Starter Activities - Business Management Trivia Quizzes</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33511/glossary-of-key-terms-index" title="Glossary of key terms - index">Glossary of key terms - index</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36815/revision-key-terms" title="Revision - Key terms">Revision - Key terms</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36818/unit-1-key-terms-business-organization-environment" title="Unit 1 Key terms - Business organization & environment">Unit 1 Key terms - Business organization & environment</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36871/unit-2-key-terms-human-resource-management" title="Unit 2 Key terms - Human Resource Management">Unit 2 Key terms - Human Resource Management</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36874/unit-3-key-terms-finance-accounts" title="Unit 3 Key terms - Finance & accounts">Unit 3 Key terms - Finance & accounts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36882/unit-4-key-terms-marketing-" title="Unit 4 Key terms - Marketing ">Unit 4 Key terms - Marketing </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36887/unit-5-key-terms-operations-management" title="Unit 5 Key terms - Operations management">Unit 5 Key terms - Operations management</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38055/entrepreneurs-leaders-quiz" title="Entrepreneurs & Leaders Quiz">Entrepreneurs & Leaders Quiz</a></li></ul></ul></nav> </div> </div> </div> </div><div style="margin-top: 20px;"><style type="text/css">
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<h1 class="section-title">Tools, techniques & theories for the EE</h1>
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<div class="panel panel-has-footer"><div class="panel panel-has-footer" style="box-shadow: rgba(17, 0, 51, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><span style="font-family:arial,helvetica,sans-serif;"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a></span><div><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span><span style="color:#FF0000;"></span>Tools, techniques, and theories for the Extended Essay</span></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;"><strong><img alt="" src="/media/ib/businessmanagement/ee.png" style="width: 300px; height: 189px;" /></strong></span></p></div></div><div class="panel-footer" style="background-color: rgb(247, 245, 250);"><div><p><span style="font-family:arial,helvetica,sans-serif;">Here is a list of possible tools, theories, and techniques (TTT) that students might be able to use to help with their Extended Essay. These tools, theories, and techniques are explicitly mentioned in the IB Business Management syllabus.</span></p><hr class="hidden" /><div class="row-fluid"><div class="span6 col-left"><div><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/page/22566/boston-consulting-group-bcg-matrix" title="Unit 4 » 4.5 The four Ps » Product » Boston Consulting Group (BCG) matrix">1.3 Ansoff Matrix</a></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/page/21746/33-break-even-analysis" title="Unit 3 » 3.3 Break-even analysis">4.5 BCG Matrix</a></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/page/21746/33-break-even-analysis" title="Unit 3 » 3.3 Break-even analysis">3.3 Break-even analysis</a></span></p></li><li><p><a href="businessmanagement/page/21752/39-budgets-hl-only" title="Old syllabus (final exams N23) » Unit 3 » 3.9 Budgets (HL only)">3.9 Budgets</a></p></li><li><p><a href="businessmanagement/page/21750/37-cash-flow" title="Unit 3 » 3.7 Cash flow">3.7 Cash flow forecasts</a></p></li><li><p><a href="businessmanagement/page/21695/55-production-planning-hl" title="Old syllabus (final exams N23) » Unit 5 » 5.5 Production planning (HL)">5.5 Cost to make vs Cost to buy</a></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/page/21747/34-final-accounts-some-hl-only" title="Unit 3 » 3.4 Final accounts (some HL only)">1.7 Decision tree</a></span></p></li><li><p><a href="businessmanagement/page/21749/36-efficiency-ratio-analysis-hl-only" title="Old syllabus (final exams N23) » Unit 3 » 3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis</a></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/page/24030/fishbone-diagram" title="Unit 1 » 1.7 Organizational planning tools (HL only) » Fishbone diagram">3.4 Final accounts</a></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/page/24032/force-field-analysis" title="Unit 1 » 1.7 Organizational planning tools (HL only) » Force field analysis">1.7 Fishbone diagram</a></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/page/24032/force-field-analysis" title="Unit 1 » 1.7 Organizational planning tools (HL only) » Force field analysis">1.7 Force field analysis</a></span></p></li><li><p><a href="businessmanagement/page/24033/gantt-chart" title="Old syllabus (final exams N23) » Unit 1 » 1.7 Organizational planning tools (HL only) » Gantt chart">1.7 Gantt chart</a></p></li></ul></div></div><div class="span6"><div><ul class="branded"><li><p><a href="https://www.thinkib.net/businessmanagement/page/21751/38-investment-appraisal" title="Old syllabus (final exams N23) » Unit 3 » 3.8 Investment appraisal">3.8 Investment appraisal</a></p></li><li><p><a href="https://www.thinkib.net/businessmanagement/page/24745/24-motivation" title="Old syllabus (final exams N23) » Unit 2 » 2.4 Motivation">2.4 Motivation</a> </p></li><li><p><a href="businessmanagement/page/21757/25-organizational-culture-hl-only" title="Unit 2 » 2.5 Organizational culture (HL only)">2.5 Organizational culture</a></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/page/25482/product-position-mapperception-map" title="Unit 4 » 4.2 Marketing planning » Product position map/perception map">4.2 Position maps </a>(perception mapping)</span></p></li><li><p><a href="businessmanagement/page/21748/35-profitability-and-liquidity-ratio-analysis" title="Unit 3 » 3.5 Profitability and liquidity ratio analysis">3.5 Profitability and liquidity ratio analysis</a></p></li><li><p><a href="https://www.thinkib.net/businessmanagement/page/33222/56-research-development-hl" title="Old syllabus (final exams N23) » Unit 5 » 5.6 Research & development (HL)">5.6 Research & development</a></p></li><li><p><a href="https://www.thinkib.net/businessmanagement/page/21769/43-sales-forecasting-hl-only" title="Old syllabus (final exams N23) » Unit 4 » 4.3 Sales forecasting (HL only)">4.3 Sales forecasting</a></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/page/22264/stakeholder-conflict" title="Unit 1 » 1.4 Stakeholders » Stakeholder conflict">1.3 SWOT analysis</a></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/page/24075/steeple-analysis-of-a-given-organization" title="Unit 1 » 1.5 External environment » STEEPLE analysis of a given organization">1.4 Stakeholders analysis</a></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/page/24075/steeple-analysis-of-a-given-organization" title="Unit 1 » 1.5 External environment » STEEPLE analysis of a given organization">1.5 STEEPLE analysis</a></span></p></li><li><p><a href="businessmanagement/page/22235/swot-analysis" title="Unit 1 » 1.3 Organizational objectives » SWOT analysis">1.3 SWOT analysis</a></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/page/24776/operations-management-strategies-practices-for-sustainability" title="Unit 5 » 5.1 The role of operations management » Operations management strategies & practices for sustainability">5.1 The Triple Bottom Line</a></span></p></li></ul></div></div></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-lightbulb-o fa-lg" style="color: rgb(61, 30, 128);"> </span> Top tip!</span></span></h5><p>Students following the new Business Management syllabus (first exams 2024) can use any of the 15 tools from the <a href="https://www.thinkib.net/businessmanagement/page/42640/business-management-toolkit-bmt" title="New syllabus (first teaching 2022) » Business Management Toolkit (BMT)">Business Management Toolkit</a>, so long as these can help to address the research question.</p></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-lightbulb-o fa-lg" style="color: rgb(61, 30, 128);"> </span>Top tip!</span></span></h5><p>Whilst students can use <em>any </em>Business Management tools, theories, and techniques in the Extended Essay, these must be suitable in addressing the issue under investigation (applicable to addressing the research question). Too often, students apply these superficially and with no real value to answer the RQ.</p></div></div></div></div></div><hr class="hidden" /><div class="panel panel-has-footer" style="box-shadow: rgba(17, 0, 51, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><span style="font-family:arial,helvetica,sans-serif;"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a></span><div><p><span style="font-family:arial,helvetica,sans-serif;">The CUEGIS Concepts and the Extended Essay</span></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;">Incorporating the <a href="businessmanagement/page/25115/cuegis" title="CUEGIS">CUEGIS </a>concepts can add interest and rigour to the Extended Essay.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="148" src="/media/ib/businessmanagement/images/cuegis" width="232" /></span></p></div></div><div class="panel-footer" style="background-color: rgb(247, 245, 250);"><div><p><span style="font-family:arial,helvetica,sans-serif;">Not only are change, culture, ethics, globalization, innovation and strategy the key <em>concepts </em>in IB Business Management, they are also features as <em>content</em> in the syllabus. For example, take a look here for Tidd & Bessant's model of <strong>the 4 Ps of Innovation</strong>.</span></p><section class="tib-hiddenbox"><h4><span style="font-family:arial,helvetica,sans-serif;">Tidd & Bessant's 4Ps of Innovation</span></h4><hr class="hidden" /><h4><span style="font-family:arial,helvetica,sans-serif;">Introduction</span></h4><p><span style="font-family:arial,helvetica,sans-serif;"><em>“Every organisation needs one core competence - innovation.” </em>- Peter Drucker, management guru (1909 - 2005)</span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;">In the complex world of business, innovation is the successful commercialisation of new ideas. This article introduces the 4Ps model of innovation, developed by Professors Joe Tidd (University of Sussex) and John Bessant (University of Exeter). They argued that all businesses must innovate to remain competitive. Their model provides a useful tool for analysing four types of innovation that seek positive change:</span></p><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;"><strong>Product innovation </strong>– innovative changes centred around the goods and services offered by a business organisation</span></li><li><span style="font-family:arial,helvetica,sans-serif;"><strong>Process innovation</strong> – innovative changes focused on the ways in which goods and services are created or delivered to customers</span></li><li><span style="font-family:arial,helvetica,sans-serif;"><strong>Position innovation</strong> – innovative changes concerned with changes in the context in which goods or services are communicated to customers</span></li><li><span style="font-family:arial,helvetica,sans-serif;"><strong>Paradigm innovation</strong> – innovative changes in the underlying direction and culture which shape what the organisation does.</span></li></ul><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="/media/ib/businessmanagement/images/innovation-4ps-mix.jpg" style="width: 340px; height: 329px;" /></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><em>The 4Ps model of innovation</em></span></p><hr class="hidden" /><h4><span style="font-family:arial,helvetica,sans-serif;">Product Innovation</span></h4><p><span style="font-family:arial,helvetica,sans-serif;">The most common type of innovation is product innovation. This involves the creation or improvement of a good or service to consumers, such as the development of new products, updating the design or attributes of existing products, or the use of new materials (components) in the production of established products on the market. Product innovation can be based on incremental innovation (which focuses on improving the original invention) or radical innovation (which focuses on creating a new product). The Tesla high performance electric car is an example of radical product innovation. An example of incremental innovation would be Windows 8 being replaced by Windows 10, or the iPhone 6 being upgraded to the iPhone 6S (or the iPhone 12, with 4 cameras instead of three cameras on the iPhone 11).</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Examples given by Tidd and Bessant include the light bulb, steam engine, typewriter and new home entertainment systems. More recent examples include Spotify (music streaming services), Netflix (online movie streaming) and airlines that offer inflight Wi-Fi services.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">A major advantage of product innovation is the potential to gain an instant competitive advantage over rivals, even well-established competitors. For example, Wikipedia was the main cause of the demise of Encyclopaedia Britannica. The first edition of Encyclopaedia Britannica was printed in Edinburgh, Scotland but went out of print in 2012 after its rich history of 244 years in print. Product innovation is also a major source of growth and expansion for businesses.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Product innovation enables a business to differentiate its products from others in the same market. Such product innovations focus on making a product distinct and more appealing to customers due to its unique qualities. Product innovation is also a major source of product diversification. For example, Coca-Cola’s product range includes: Fanta, Sprite, Bacardi Mixers, Dasani, Minute Maid, and Schweppes. Effective product differentiation and diversification help an organisation to secure greater market share and earn higher amounts of profit.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Product innovation can also encourage brand switching by enticing customers from rival brands. Motorola once dominated the mobile phone industry, before Nokia took over with its then innovative cell phones. When Apple launched its iPhone, Nokia’s global market share fell to below 3% and Sony-Erickson collapsed. Today, Samsung’s broad product range of smartphones means the South Korean company sells more phones that Apple or any other company.</span></p><hr class="hidden" /><h4><span style="font-family:arial,helvetica,sans-serif;">Process Innovation</span></h4><p><span style="font-family:arial,helvetica,sans-serif;">Process innovations focus on how things are done, such as the ways in which products are made or distributed. An example is the use of 3D modelling software and 3D printers for developing new products. Process innovation includes improving or replacing processes in the workplace, such as communication systems or production methods. For example, Henry Ford (1863 – 1947) revolutionised car manufacturing with the introduction of automation and mass production. McDonald’s introduced the drive-thru service in 1975 have included the drive-thru Other examples include the use of Skype by businesses for recruitment purposes (video conference interviews), Amazon, Alibaba, e-Bay and PayPal (e-commerce) and Uber (taxi services).</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Process innovations help to increase an organisation’s productivity level (the amount produced) and efficiency (how well things are done in the organisation). For example, supermarket chains have introduced process innovations such as the use of barcodes, scanners, electronic point of sales (EPOS), computerised inventory (stock) management systems, customer loyalty card schemes, and e-commerce for online shopping. The higher levels of productivity efficiency resulting from such innovations help to reduce the supermarket’s costs of operation.</span></p><hr class="hidden" /><h4><span style="font-family:arial,helvetica,sans-serif;">Position Innovation</span></h4><p><span style="font-family:arial,helvetica,sans-serif;">Position innovation is about the re-positioning of customer perceptions of an established product, process or brand in order to gain access to new markets and customers. Tidd and Bessant define position innovation as innovation that changes the context of a good or service. For example, Lucozade and Coca-Cola were both originally created as drinks for people suffering from illness or fatigue. Lucozade successfully repositioned itself as a high-energy sports drink, whilst Coca-Cola has become the world’s most successful brand in the soft drinks industry. Levi-Strauss jeans were originally produced as protective clothing for manual, low-skilled workers, but have be repositioned as a global fashion brand. Mobile phones were once targeted at business people although are now mass market products owned by the young and old in many parts of the world. As the reliance on technology grows in the education sector, large laptop manufacturers such as Lenovo, Apple and HP have targeted schools with their products. Low-cost budget airlines enable those on low incomes or bargain hunters to have access air travel, providing airline carriers with a range of additional revenue streams (see Box 1).</span></p><div class="greenBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Case Study 1 – Alternative revenue streams for budget-airlines</span></span></h5><p><img alt="" src="/media/ib/businessmanagement/images/5.2-WS---Airplanes(1).jpg" style="width: 280px; height: 180px;" /></p><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;">All low-cost airlines charge for snacks and beverages; some like SpiceJet charge for hot meals</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Most budget airlines charge a fee for checked baggage and pre-assigned seats</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Jetstar and Scoot loan iPads for a fee</span></li><li><span style="font-family:arial,helvetica,sans-serif;">AirAsia customers can pay for the privilege of being seated in a children-free quiet zone!</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Ryanair offers advertising space on its planes, including on the wing tips</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Ryanair also charges customers who pay by American Express credit card €7 (£5) and 2% commission.</span></li></ul></div><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;">In today’s ever competitive business world, effective market positioning is critical. Although factors such as a product’s price and quality affect the level of demand for a good or service, it is ultimately determined by customers’ perceptions of the product. Customers might know that a Happy Meal at McDonald’s is not the healthiest of meals for a child, but the perceived value for money and joy (or happiness) it brings is enough to ensure that the Happy Meal is a cash cow for McDonald’s.</span></p><hr class="hidden" /><h4><span style="font-family:arial,helvetica,sans-serif;">Paradigm Innovation</span></h4><p><span style="font-family:arial,helvetica,sans-serif;">The fourth ‘P’ of innovation is paradigm innovation, which focuses on changes to the standards and practices of an organisation or the industry in which it operates. For example, the microchip revolution reduced costs across all industries. Such innovations involve changes to the paradigm that shape what the business is about. Steve Jobs famously talked about Apple’s product orientation marketing strategies, claiming that Apple would create products that their customers didn’t know they would want (such as the iPod, iPhone and iPad). Henry Ford created a paradigm shift in the transport industry by mass producing the Ford Model T car, stating that “If I asked people what they wanted, they would have asked for a five-legged horse”. Paradigm innovation often involves radical change, sometime resulting in organisations changing their core business activity (see Box 2).</span></p><div class="greenBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Case Study 2 – Companies that changed their core competencies</span></span></h5><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;">Nintendo started business by making playing cards before shifting to games consoles</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Rolls-Royce diversified from producing high-end luxury cars to aero-engine manufacturing</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Wrigley made and sold soap and baking powder before customers preferred to buy their chewing gum</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Tiffany & Co. started business by selling stationery, not jewellery</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Hasbro made textiles remnants and school uniforms before making their world-famous toys</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Colgate sold soaps, candles and starch products for 67 years before producing its global best-selling toothpaste</span></li><li><span style="font-family:arial,helvetica,sans-serif;">South Korea’s LG started life selling hygiene and cosmetics products before manufacturing home appliances and consumer electronics.</span></li></ul></div><hr class="hidden" /><h4><span style="font-family:arial,helvetica,sans-serif;">Summary</span></h4><p><span style="font-family:arial,helvetica,sans-serif;">It is not always possible to categorise all innovations into one of these four categories. For example, Virgin Blue originally entered the Australian air travel industry as a low-budget airline but has repositioned itself as a mass market, mainstream carrier. Similarly, improving processes in the business can result in the output of improved products, which is likely to improve the organisation’s market positioning. Regardless of the type of innovation, all 4 Ps of innovation ultimately serve the same purpose - to make the organisation more profitable by being more productive and more efficient. Innovation is a major source of medium to long term competitive advantage for any business, including entry to new markets, increased sales revenues, greater market share, improved productivity, higher profit margins and greater customer loyalty. As the likes of Steve Jobs and Peter Drucker have demonstrated, all organisations need innovation as their core competence if they are to survive in an ever changing business environment.</span></p></section></div></div></div><hr class="hidden" /><div class="panel panel-has-footer" style="box-shadow: rgba(17, 0, 51, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><span style="font-family:arial,helvetica,sans-serif;"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a></span><div><h6><span style="font-family:arial,helvetica,sans-serif;">Using tools, theories and techniques beyond the IB BM syllabus</span></h6></div></div><div class="panel-body"><div><p>To succeed in the Business Management EE, students must be prepared to do research to extend your knowledge of the theory and gather meaningful and reliable data which you can analyse in the context of the theory and the focus of the research question. Essentially, this means reading academic literature beyond the parameters of the DP Economics syllabus.</p><p><span style="font-family:arial,helvetica,sans-serif;">For the Extended Essay, students <u>can</u> also use analytical tools that are not included in the syllabus. In fact, this is a strong recommendation in the Extended Essay Subject Report (May 2018, page 2):</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><em>"Because of the demand of the EE in Business Management regarding secondary research, the best candidates were able to refer to other models they had read about, beyond the syllabus (such as Porter’s Five Porters or Stakeholder Mapping), to other theories (such as Herzberg’s two-factor theory or ‘Blue Ocean Strategy’), or to other concepts, such as sustainability."</em></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Examples of such tools/theories/techniques could include (depending on the student's research question):</span></p><ul class="branded"><li>J. Adair's teamworking model<section class="tib-hiddenbox"><p><span style="color:#FF0000;">The Adair model, named after Professor John Adair (b. 1934), shows the three parts to effective teams:</span></p><p><span style="color:#FF0000;">• Tasks must be challenging enough to maintain the interest of individual team members<br />• To successfully complete the task, the team must work collectively<br />• The team caters for the needs of each individual member of the group</span></p><p><span style="color:#FF0000;">Cambridge University alumnus John Adair found that effective team leaders strive to accomplish challenging tasks, build teams and develop the individual.</span></p><p><span style="color:#FF0000;">The Adair model presents an ideal situation for successful teamworking. Adair argued that too often, teams focus on performance (achieving goals), with little attention being paid to individuals within the team. Hence, group dynamics (the range of individual problem-solving skills and experiences) are not exploited. Effective team management requires recognition and reinforcement of the importance of every member’s input. This helps to keep each person enthusiastic and improves the atmosphere in the workplace.</span></p></section></li><li><span style="font-family:arial,helvetica,sans-serif;">Kaplan & Norton's <a href="https://www.tutor2u.net/business/reference/balanced-scorecard-introduction-overview">balanced score card</a></span></li><li><span style="font-family:arial,helvetica,sans-serif;">Belbin’s team role theory</span></li></ul><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><em>Note to teachers:</em></span><span style="color:#FF0000;"></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Teamworking features in the IB Business Management syllabus (<a href="https://www.e.thinkib.net/businessmanagement/page/24601/types-of-non-financial-rewards">Unit 2.4</a>). Belbin's theory is not explicitly mentioned in the syllabus, but can certainly use his theory if relevant to their EE research question.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Belbin’s team role theory</strong></span><span style="color:#FF0000;"></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Dr. Meredith Belbin and his team of researchers at Henley Management College studied the behaviour of managers from all over the world. These managers were put into different teams and given a series of psychometric tests and complex management exercises. Their different personalities, intellect and conduct were assessed during the tests. Over a period of almost a decade, different clusters of behaviour were identified as underlying the success of different teams.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">The Belbin team role model</span></strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Belbin’s research describes a pattern of behaviour that characterises individuals in a team. The findings showed the emergence of nine patterns of behaviour (or team role). Belbin defined a team role as:</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><em><span style="color:#FF0000;">“A tendency to behave, contribute and interrelate with others in a particular way.”</span></em></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">The nine team roles were identified as:</span></span></p><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Action-oriented roles - i) Shaper, ii) Implementer, and iii) Completer Finisher</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">People-oriented roles - iv) Coordinator, v) Teamworker and vi) Resource Investigator</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Cerebral roles - vii) Plant, viii) Monitor Evaluator and ix) Specialist</span><span style="color:#FF0000;"></span></span></li></ul><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Belbin argued that different team roles yield different benefits (what he called <strong>contributions</strong>). For example, a ‘monitor evaluator’ (see Table 1) has the strength of being able to make objective judgments. However, by having the characteristics of a monitor evaluator, Belbin argued that this comes at a price (what he called <strong>allowable weaknesses</strong>).</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Belbin argued that a person’s overall strongest roles are the ones most appreciated by other people.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Belbin’s research showed that a balanced team - one with the greatest chance to succeed - would contain a balance of team roles. Further, every team goes through phases during which some team roles are able better to contribute than others.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">The uses of Belbin’s theory</span></strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Most managers have reasonable expectations of how their teams are going to perform. Belbin’s model can give some insight to how an individual feels and behaves in a group. Observer Assessments provide independent evidence about an individual’s team role(s), although this can be costly and time consuming to conduct.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Belbin’s model allows a group to analyse its collective strengths and weaknesses in team role terms and objectively plan to capitalise on those strengths and minimise the negative impact of its weaknesses.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Belbin argues that knowledge of the different team roles increases understanding and enables mutual expectations to be met. The effective performance of a group of people - a team - is dependent on the way the team is able to interact and draw on the strengths of its members. Members of a team bring to the group two key things. The first is their competency – expertise, qualifications and experience. The second is the way they work with and contribute to a group, thereby enhancing the effectiveness of the group.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Staff selection and recruitment is typically based on the qualifications, experience and practical skills an individual has. However, there is no clear evidence to suggest a clear correlation between this and job performance. The team focus is concerned with how the job gets done.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Belbin’s research shows that a person recruited to a job who is unsuitable in team role terms will be, at least, a poor fit for the job and will often be a total misfit! Indeed a person recruited who is suitable in team role terms (i.e. is a team player), but perhaps lacks experience or qualifications will often prove to be a surprise success in the job.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Today, businesses can purchase computer software which analyses how an individual feels and how an individual behaves in a group. The outcome is one of the nine team roles. Belbin argues that it is only by knowing ourselves that we have any chance of improving ourselves and achieving our full potential.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">The limitations…</span></strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Team roles develop and mature. These may change with experience and conscious reflection. Different team roles may form in response to the needs of particular situations, such as dealing with a corporate crisis. Although people may prefer and conform to one style within Belbin’s model, this could still mean that they act differently in changing circumstances.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Also, the demands of jobs have to be taken into account when assessing validity since the nine forms of behaviour can be seen as effective or ineffective according to the context. Here the fit between the profile of the individual and the profile of the job plays a key consideration.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">Conclusions</span></strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Belbin’s model looks at a pattern of behaviour in which individual team members interacts to facilitate the progress of the team as a whole.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Although there are many forms of psychometric and similar feedback tools, most of them fail to include inputs from the people best able to give it – such as your boss, colleagues and subordinates. The Belbin process uses both "self" and "observer" inputs to derive a profile, and one of the important benefits gained from the analysis is to discover the differences between self perception and the perceptions of others. Given the synergy that teams can bring to any business, it is important that management are aware of the dynamics of their different teams.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Table 1: Belbin’s team role model</span></span></p><table border="1" cellpadding="0" cellspacing="0" width="102%"><tbody><tr><td style="width:5.62%;height:49px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"></span></p></td><td style="width:15.84%;height:49px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>Team-Role Type</strong></span></p></td><td style="width:26.18%;height:49px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>Contributions</strong></span></p></td><td style="width:26.18%;height:49px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>Allowable Weaknesses</strong></span></p></td><td style="width:26.18%;height:49px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;"><strong>Suggested task allocation</strong></span></p></td></tr><tr><td rowspan="3" style="width:5.62%;"><p align="center" style="margin-left:5.65pt;"><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Action orientated</span></span></p></td><td style="width:15.84%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Shaper</strong></span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Challenging, dynamic, thrives on pressure; drive and courage to overcome obstacles; Directing team attention to objectives and priorities</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Prone to provocation. Offends people’s feelings</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Person best suited to overcome obstacles and opposition; create a sense of urgency and ensure that talk is turned into action</span></span></p></td></tr><tr><td style="width:15.84%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Implementer</strong></span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Disciplined, reliable, conservative and efficient. Turns ideas into practical actions; out agreed plans systematically and efficiently</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Somewhat inflexible. Slow to respond to new possibilities</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Appointed as organiser, responsible for procedures and practical steps to be taken once team reaches significant decisions</span></span></p></td></tr><tr><td style="width:15.84%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Completer Finisher</strong></span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Thorough, conscientious, anxious. Searches out errors and omissions. maintains sense of urgency within team and delivers on time</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;">Inclined to worry unduly. Reluctant to delegate.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Slow to respond to new possibilities.</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Should ensure team's work meets necessary deadlines and conforms to highest standards. Responsible for ensuring no inaccuracies or errors</span></span></p></td></tr><tr><td rowspan="3" style="width:5.62%;"><p align="center" style="margin-left:5.65pt;"><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">People orientated</span></span></p></td><td style="width:15.84%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Co-Coordinator</strong></span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Mature, confident, good chairperson; clarifies goals; promotes decision making; delegates well; recognises where team's strengths and weaknesses lie</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Can often be seen as manipulative. Off loads personal work.</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Best person to co-ordinate group effort; ensure that everyone has a useful role and that team works towards common goal.</span></span></p></td></tr><tr><td style="width:15.84%;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">Team worker</span></strong></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Co-operative, mild, observant and diplomatic. Listens, builds, averts friction</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Supports members in their strengths; eg building on suggestions, fostering team spirit generally</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Indecisive in critical situations</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Should play a floating role, using versatile qualities to help where others cannot manage. Should use diplomatic skills to overcome conflict.</span></span></p></td></tr><tr><td style="width:15.84%;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">Resource Investigator</span></strong></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Extrovert, enthusiastic, communicative. Explores and reports on opportunities, and resources outside the group;</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Over-optimistic. Loses interest once initial enthusiasm has passed</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">be responsible for developing external contacts and exploring new opportunities; needs a chance to conduct negotiations but must report back to group</span></span></p></td></tr><tr><td rowspan="3" style="width:5.62%;"><p align="center" style="margin-left:5.65pt;"><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Cerebral oriented</span></span></p></td><td style="width:15.84%;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">Plant</span></strong></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Creative, imaginative, unconventional; solves difficult problems; redefines problems; advances new ideas and strategies</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Ignores incidentals; too preoccupied to communicate effectively</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Deal with most problem solving or be responsible for generating new strategies or ideas and proposing solutions to rest of team.</span></span></p></td></tr><tr><td style="width:15.84%;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">Monitor Evaluator</span></strong></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Objective, impartial and good at carefully weighing up all possibilities to make the right decision; judges accurately</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Lacks drive and ability to inspire others; can come across as unenthusiastic or boring</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Responsible for ensuring all worthwhile options are considered; needs a key role in planning; an arbitrator in event of controversy</span></span></p></td></tr><tr><td style="width:15.84%;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">Specialist</span></strong></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Single-minded, self-starting, dedicated. Provides technical knowledge and skills in rare supply. Contributes professional viewpoint on subject under discussion</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Contributes only on a narrow front. Dwells on technicalities.</span></span></p></td><td style="width:26.18%;"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Should provide focus on technical issues confronting team; should provide knowledge and techniques in short supply.</span></span></p></td></tr></tbody></table><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span></span><hr class="hidden" /><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">For more information, visit http://www.belbin.com or see Belbin’s book <em><a href="https://www.amazon.co.uk/Management-Teams-They-Succeed-Fail/dp/0750659106/ref=pd_lpo_14_t_1/261-7156236-4636230?_encoding=UTF8&pd_rd_i=0750659106&pd_rd_r=22b735c2-e647-44ee-a4b7-34fc8d32e793&pd_rd_w=tezfF&pd_rd_wg=Sz5A9&pf_rd_p=7b8e3b03-1439-4489-abd4-4a138cf4eca6&pf_rd_r=N02833RTTWDBEFVXNJM0&psc=1&refRID=N02833RTTWDBEFVXNJM0">Management Teams: Why They Succeed or Fail</a>, </em>Butterworth-Heinemann, ISBN-13: 978-0750659109</span></span><hr class="hidden" /></section><ul class="branded"><li>Blanchard and Hersey's situational leadership model<section class="tib-hiddenbox"><p><span style="color:#FF0000;">One of the best known situational theories was devised by Kenneth Blanchard and Paul Hersey (1969). The Blanchard and Hersey model built on the work of Blake and Mouton and used the same criteria - concern for people and concern for the task. They also built in one of Fiedler’s variables, namely the ability and willingness of subordinates to achieve the task set. Their work showed four possibilities - ranging from subordinates being unable and unwilling to being able and willing to complete the task at hand. Subsequently, in each of the four situations with their varying degrees of competence and commitment of staff, a different leadership style was required based on the amount of support and direction needed:</span></p><p><span style="color:#FF0000;"><em>Telling/directing style </em>- This autocratic style is necessary when employees are unable and/or unwilling to complete tasks. Workers have to be told what to do and communication is one-way.</span></p><p><span style="color:#FF0000;"><em>Selling/coaching style</em> - This style is used when workers have some ability but are not committed, so they need persuading and coaching to accomplish targets. This means leaders and managers need to have concern for both task and people (a feature of the Blake and Mouton model). Communication is two-way.</span></p><p><span style="color:#FF0000;"><em>Participating/supporting style </em>- With this style, the manager or leader acts as a facilitator. Workers have a high degree of competence but an inconsistent commitment. The manager’s role is to oversee and encourage rather than to direct their staff.</span></p><p><span style="color:#FF0000;"><em>Delegating style</em> - This style is used if both ability and willingness of staff are high. The manager or leader can feel assured in delegating tasks or jobs. The manager or leader acts as a facilitator who is held accountable for the work that is delegated.</span></p><p><span style="color:#FF0000;">Out of these four styles, there is no single best style for any leader. Instead, Blanchard and Hersey found that effective leaders need to be flexible in adapting themselves to a given situation. Nevertheless, individual leaders tend to have a preferred or a natural style that they revert to when situations return to normal. Blanchard and Hersey emphasised that it is the role of the leader to adapt, rather than the follower.</span></p><p><span style="color:#FF0000;">Blanchard and Hersey also suggested that worker attitudes are situational. For example, although workers might be highly skilled, committed and confident in what they do, they may not necessarily feel this way when faced with tasks requiring skills that they don’t have. The role of the manager or leader in these instances is to develop their staff.</span></p><p><span style="color:#FF0000;">A criticism of Blanchard and Hersey’s situational model is that it fails to distinguish between management and leadership. After all, leadership is more about inspiring people than about problem solving or decision-making.</span></p></section></li><li><span style="font-family:arial,helvetica,sans-serif;"><a href="https://marketbusinessnews.com/financial-glossary/blue-ocean-strategy/">Blue Ocean Strategy</a> (marketing theory)</span></li><li><span style="font-family:arial,helvetica,sans-serif;"><a href="https://www.tutor2u.net/business/reference/strategic-positioning-bowmans-strategy-clock">Bowman's Strategic Clock</a> (Strategic Positioning)</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Carroll's CSR Pyramid<a href="businessmanagement/page/21846/carrolls-csr-pyramid" title="Unit 1 » 1.3 Organizational objectives » Carroll’s CSR Pyramid"> </a>(Aims & Objectives: Corporate Social Responsibility)</span></li></ul><section class="tib-hiddenbox"><p><span style="color:#FF0000;"><strong><span style="font-family:arial,helvetica,sans-serif;">Carroll’s </span>Corporate Social Responsibility (<span style="font-family:arial,helvetica,sans-serif;">CSR) Pyramid</span></strong></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Carroll’s CSR Pyramid is a business management tool (not explicit in the BM syllabus) that shows the reasons how and why an organization should set ethical objectives and meet its corporate social responsibilities. The framework can be remembered by the acronym PELE:</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="170" src="data:image/png;base64,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" width="333" /></span></span></p><ol><li><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Philanthropy</strong> – This is the responsibility of a business to give back to others in society, such as charitable donations or sponsorship of a local event. There is no legal obligation for a firm to act in this way, but it is still deemed to be important to society.</span></span></li><li><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Ethical</strong> – This refers to the responsibility of organizations to act ethically and morally, such as the fair treatment of employees and suppliers.</span></span></li><li><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Legal</strong> – A firm may engage with CSR in order to comply with the laws and regulations set in the country. This might include employment legislation on equal opportunities in the workplace, health and safety regulations and waste disposal laws.</span></span></li><li><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Economic profit</strong> – CSR is based on the foundation of a firm earning economic profit – being ethical <em>can</em> be profitable for a business in the long run. Ultimately, firms are in business to earn profit. For owners and shareholder, profits must come first.</span></span></li></ol><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">The model is simple to understand and highlights that CSR has more than one dimension. It also acknowledges the importance of profit as the most important driving force in the long term. However, critics of the model suggest that CSR should be driven by ethics, not profits. In addition, what a business claims it would like to do does not always materialise.</span></span></p><hr class="hidden" /><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Watch this short 5 mins YouTube video about Carroll's CSR Pyramid:</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><iframe allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/KRibUe2E0bM" width="640"></iframe></span></p></section><ul class="branded"><li>Peter Drucker's Sources of Innovation<section class="tib-hiddenbox"><p>Management guru Peter Drucker (1985) found seven sources of new opportunities for innovation (see Table below). His findings provide a framework for managers to consider the innovation opportunities in their organisation. By monitoring the sources of innovation, it is possible to identify opportunities for innovation.</p><p><strong>Drucker’s 7 sources of innovation</strong></p><table border="1" cellpadding="0" cellspacing="0" width="647"><tbody><tr><td style="width:143px;"><p align="center"><strong>Source of innovation</strong></p></td><td style="width:252px;"><p align="center"><strong>Description</strong></p></td><td style="width:252px;"><p align="center"><strong>Opportunities (examples)</strong></p></td></tr><tr><td style="width:143px;height:52px;"><p>The unexpected</p></td><td style="width:252px;height:52px;"><p>Are there any surprising successes or failures?</p></td><td style="width:252px;height:52px;"><p>Coca-Cola’s highly successful global sales of Coke Light (Diet Coke) led to the launch of other products such as Coke Zero.</p></td></tr><tr><td style="width:143px;height:59px;"><p>The Incongruities (strangeness)</p></td><td style="width:252px;height:59px;"><p>Are there any differences between what people believe and reality?</p></td><td style="width:252px;height:59px;"><p>Selling low-calorie food and drink because customers think ‘no sugar added’ means there are no calories.</p></td></tr><tr><td style="width:143px;height:54px;"><p>Process need</p></td><td style="width:252px;height:54px;"><p>Are there any weaknesses in the current production process, thereby creating opportunities for improvement?</p></td><td style="width:252px;height:54px;"><p>Overly complex airline ticketing procedures led to the creation of e-ticketing which has reduced queues at the airport.</p></td></tr><tr><td style="width:143px;height:52px;"><p>Industry and market structure</p></td><td style="width:252px;height:52px;"><p>Are there any changes to the underlying conditions of demand and supply in an industry or a market?</p></td><td style="width:252px;height:52px;"><p>Pressure group action and health-conscious consumers led to healthier menus being introduced in fast-food restaurants.</p></td></tr><tr><td style="width:143px;height:70px;"><p>Demographics</p></td><td style="width:252px;height:70px;"><p>What are the current and forecast demographic trends/changes?</p></td><td style="width:252px;height:70px;"><p>Changes in population size, age structure, gender structure, educational attainment, and income levels can all provide wide opportunities for many businesses.</p></td></tr><tr><td style="width:143px;height:71px;"><p>Changes in perception</p></td><td style="width:252px;height:71px;"><p>What are people’s general attitudes, assumptions and beliefs? What do customers perceive as ‘value’?</p></td><td style="width:252px;height:71px;"><p>Socially responsible business behaviour is increasingly expected. Hence there are opportunities for implementing environmentally friendly innovations.</p></td></tr><tr><td style="width:143px;"><p>New knowledge</p></td><td style="width:252px;"><p>What opportunities can new knowledge provide?</p></td><td style="width:252px;"><p>Technological knowledge has led to the development of the Internet and e-commerce.</p></td></tr></tbody></table></section></li><li><span style="font-family:arial,helvetica,sans-serif;">Charles Handy - various tools, theories and techniques</span></li></ul><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Charles Handy - </strong><span style="color:#FF0000;"><strong>Management guru</strong></span></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><img alt="" height="233" src="/media/ib/businessmanagement/images/charles-handy.jpg" width="233" /></span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Introduction</strong></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Charles Handy (born 1932), an Irish author and management guru, specialized in organizational behaviour, culture and management. This article introduces the life and work of Charles Handy, renowned for being one of Britain’s greatest management experts. A graduate from Oxford University, he was credited in 2001 as the world’s second most influential management thinker (after Peter Drucker) and is widely recognized today as Europe’s best known and most influential social and management philosopher.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Handy’s personal life</strong></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Charles Handy was born in Clane in County Kildare, Ireland. He was educated in England, first at Bromsgrove School as a boarder and at Oriel College, University of Oxford, where he graduated with first-class honours. He is married to Elizabeth Handy, his business partner and a professional photographer. They have two adult children. <span style="color:#FF0000;">Charles </span> Handy’s father was an Irish Protestant minister, which helped to influence one of <span style="color:#FF0000;">Charles </span>Handy’s most reputable books <em>“The Gods of Management”</em> (1995) focusing on four key management cultures, and his theory of the Shamrock organization (the shamrock being synonymous with St Patrick as a symbol of the Holy Trinity).</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Handy’s career</strong></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Charles Handy’s business career started in 1956 at Shell International (known today as Royal Dutch Shell, the world’s second largest company), working on a drilling operation in Borneo, Indonesia. He progressed to Marketing Executive before leaving the petroleum company in 1965.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span style="color:#FF0000;">Charles </span>Handy co-founded the London Business School (LBS) in 1967. He had spent a year at the Massachusetts Institute of Technology (MIT), University of Boston before returning to the UK to help establish Britain’s first management programmes at the LBS where he was full-time Professor of Business Management from 1972. The highly selective LBS offers postgraduate programmes in finance and management, such as its Masters of Business Administration (MBA), Executive MBA (EMBA) programmes, and its 5-year Doctor of Philosophy (PhD) in Management programme. LBS is consistently ranked in the top 10 business schools in the world. <span style="color:#FF0000;">Charles </span>Handy later also helped to develop the Open University’s MBA programme.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Charles Handy had several distinguished careers, including professional economist, academia at MIT (where he met his mentor, Warren Bennis) and LBS, management consultant, author and broadcaster.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Charles Handy on management</strong></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span style="color:#FF0000;">Charles </span>Handy argued that trying to define a manager is less meaningful than examining what a manager actually does. He suggested a number of common characteristics present in most effective managers:</span></span></p><ul><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Managers should have a good level of <em>intelligence</em>, but not necessarily outstanding <em>ability</em>. Managers who think that they are more intelligent and/or more able than others or have poor ‘people skills’ often find that they do not get on well with their subordinates.</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Managers need to be proactive, creative and able to take on risks in order to identify and exploit business opportunities.</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Managers must set an example for others to follow. They should also show respect for their colleagues. <span style="color:#FF0000;">Charles </span> Handy suggested that self-assured managers bring out the best in their teams.</span><span style="color:#FF0000;"></span></span></li></ul><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Handy also outlined three key roles of management:</span></span></p><ul><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Managers as general practitioners </strong>- <span style="color:#FF0000;">Charles </span>Handy compared personal health problems with the well-being of an organization, such as the level of staff turnover, productivity and customer satisfaction. If there are health problems in the business, then managers must deal with these. For example, if low productivity is a concern, then managers might hire more people, retrain staff and/or dismiss unproductive workers. If low productivity is the result of poor morale then financial incentives might be used to deal with this.</span><span style="color:#FF0000;"></span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Managers as confronters of dilemmas </strong>- <span style="color:#FF0000;">Charles </span>Handy suggested that managers are relatively well paid because they have to deal with a constant flow of dilemmas (problems). For example, managers are required to deal with the management of change, conflict management and crisis management. Handy argues that organizations are most successful when “<em>people are working with people, not for people.</em>”</span><span style="color:#FF0000;"></span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Managers as balancers of cultural mixes </strong>- Much of <span style="color:#FF0000;">Charles </span>Handy’s theories concentrated on organizational culture. He argued that it is the manager’s role to balance the cultural mix in an organization to get the best out of each individual. Whilst classical management theorists such as Henri Fayol and F.W. Taylor would have suggested a hierarchical and formal structure to shape and embrace the culture of an organization, <span style="color:#FF0000;">Charles </span>Handy argued that organizations should become flatter. He believed this would improve communications and enhance decision-making.</span><span style="color:#FF0000;"></span></span></li></ul><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span style="color:#FF0000;">Charles </span>Handy suggests that effective management of the above roles requires the <em>helicopter factor</em>, i.e. managers need to be able to rise above situations to see the ‘bigger picture’. Ineffective management, he argued, takes place when there is <em>micro-managing</em> in an organization, i.e. managers get caught up or too involved in every small aspect of the organization. Instead, he advocates that managers need to be able to delegate by being generalists rather than specialists.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Charles Handy on the Shamrock organization</strong></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">One of Charles Handy’s most renowned theories is the <em>shamrock organization</em> (1989) which suggests that businesses will gradually hire fewer core staff to improve their flexibility and competitiveness. For example, firms are increasingly outsourcing projects and using external consultants. Reducing the number of the core staff and employing more part-time workers also helps businesses such as supermarkets and fast-food restaurants to reduce their labour costs. Greater flexibility might also mean that a larger number of people work from home.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span style="color:#FF0000;">Charles </span>Handy argued that workers will have to be more flexible as there is no such thing as a ‘job for life’, but that short term contracts were more appropriate so people have to be prepared to move between occupations and perhaps industries to maintain employment. The trend in the number of businesses that <em>subcontract</em> business activities supports <span style="color:#FF0000;">Charles </span>Handy’s beliefs. He argued that non-essential work (i.e. jobs that can be done by others) should be contracted out to specialists who can do the work more productively and more cost efficiently.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Furthermore, a multi-skilled and flexible worker will be highly attractive to potential employers. For example, students in part-time employment and mothers with young children would have more choice over the hours that they work. <span style="color:#FF0000;">Charles </span> Handy believes this helps to improve the well-being and morale of workers.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Due to these changes, <span style="color:#FF0000;">Charles </span>Handy came up with the concept of the shamrock organization. This model gets its name from the shamrock plant (a three-leaved clover). <span style="color:#FF0000;">Charles </span>Handy suggested that within a shamrock organization there would be three groups of staff:</span></span></p><ul><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Core staff </strong>- This group consists of full-time professional workers, such as managers and technicians, who handle the daily operations of the business. They are crucial to the organization's operations, survival and growth. The core staff are becoming an increasingly smaller group fuelled by developments in e-commerce and teleworking. This has led to downsizing and restructuring of the workforce in many organizations.</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>workers</strong> - The second group (also known as the <strong>insourced workers</strong>) consists of part-time, temporary and portfolio workers who are employed as and when they are required. They tend to be paid by piece rate for short periods of employment, thus helping to reduce labour costs for the firm. The peripheral group forms the flexible workforce for an organization and constitutes a greater proportion of the workforce for large companies. For example, supermarket chains such as Walmart, Tesco and Carrefour employ far more part-time staff than full-time workers.</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Outsourced workers</strong> - This group consists of individuals or businesses that are not employed by the organization but are paid to complete particular and specialized tasks. Freelance workers, sub-contractors, agencies and the self-employed are examples of outsourced workers; they are hired by an organization for their skills and expertise. For instance, most large firms use marketing agencies to design appropriate promotional (marketing) campaigns.</span><span style="color:#FF0000;"></span></span></li></ul><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">The three components of the shamrock have their own advantages and limitations for an organization. The core workers, vital to the organization, must be well paid and remunerated. They are likely to enjoy some degree of job security, be well motivated and highly productive. The insourced workers will suffer from a lack of job security thereby negatively affecting their morale. Indeed, <span style="color:#FF0000;">Charles </span>Handy suggested that portfolio workers would be expected to work for free in some cases to establish themselves. However, they present flexibility for an organization and are easier to ‘hire and fire’. The peripheral workers are able to develop numerous careers simultaneously (hence the term portfolio working).</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Although Charles Handy introduced the idea of the shamrock organization back in the early 1990s, time has shown that organizations are indeed restructuring to become more flexible, reducing their core staff and using more peripheral workers. The trend in modern businesses that use increasingly more part-time workers and teleworkers supports<span style="color:#FF0000;"> Charles</span><span style="color:#FF0000;"> </span>Handy’s foresight.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Charles Handy on the “Gods of Management”</strong></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Back in 1974, Charles Handy attempted to describe the four different types of cultures that he believed existed in every organization. He named these cultures after Greek Gods:</span></span></p><ul><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Zeus (power) culture – named after Zeus, the Greek king of the gods, this represents a powerful head of an organization dominated by the personality and/or power of one person. This individual is often the founder or owner of the organization. Many organizations run such power cultures where major decision-making power remains in the hands of only few people.</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Apollo (role) culture – named after the son of Zeus, the god of harmony and order, this represents a culture dominated by bureaucracy (rules, regulation and procedures), such as government organizations and life insurance companies. Teams are formed to achieve the organizations' objectives.</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Athena (task) culture – named after the goddess of warfare and wisdom, this represents an organizational culture dominated in consultancy firms, advertising agencies and innovative organizations.</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Dionysus (person) culture – named after the god of liberation, this represents an organizational culture in which individuals have the freedom to develop their own ideas in the way they wish, such as those working in the theatre and the arts. Employees are delegated roles and responsibilities based on areas of interest, specialization and qualifications.</span></span></li></ul><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span style="color:#FF0000;">Charles </span>Handy pointed out that effective managers are those who are fully aware of the four cultures that exist in their organizations. Whilst there may be a particularly dominant organizational culture, such as a power culture in large government organizations, sub-cultures do exist and should not be ignored. For example, a common characteristic of a person culture is that individuals are often more concerned about themselves than the organization. <span style="color:#FF0000;">Charles </span> Handy pointed out that senior managers need to realize the organization always comes first and everything else (including the interest of individuals) comes later.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Conclusions</strong></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Charles Handy’s work draws no solid conclusions about what makes a ‘good’ manager. However, he does show that good organizations are passionate about what they do and that money (or the pursuit of profit) should not be at the forefront of what they stand for. As <span style="color:#FF0000;">Charles </span>Handy pointed out <em>“creating more wealth doesn’t necessarily make everybody happier.”</em> More importantly, he argued, trust must be embedded between managers and employees for organizations to be successful. This is ever more important as organizations downsize their core workers. <span style="color:#FF0000;">Charles </span> Handy had predicted the emergence of portfolio workers would reduce the number of full-time workers by 50% within 10 years (by the year 2000). In his own words, <em>“my prediction had come true in Britain and much of Northern Europe and portfolio working was commonplace.”</em> His visionary thinking reinforces the view that he is one of the greatest management gurus of our time.</span></span></p><p>Read more about Charles Handy's theory on corporate culture in <a href="businessmanagement/page/25087/types-of-organizational-culture" title="Unit 2 » 2.5 Organizational culture (HL only) » Types of organizational culture">Unit 2.5 - Types of organizational culture</a>.</p><hr class="hidden" /></section><ul class="branded"><li>R. House's Path-Goal Theory<section class="tib-hiddenbox"><p><span style="color:#FF0000;">The path-goal theory devised by Robert House (1971) is another situational theory of leadership. House identified four different leadership styles which dominate depending on the situation in question:</span></p><p><span style="color:#FF0000;"><em>Directive leadership </em>- the leader gives specific orders and guidelines to subordinates who are expected to follow these instructions.</span></p><p><span style="color:#FF0000;"><em>Supportive leadership</em> - the leader takes a sympathetic and caring approach by showing concern for the subordinates’ wellbeing.</span></p><p><span style="color:#FF0000;"><em>Participative leadership</em> - the leader involves subordinates by getting them to share ideas and opinions in a consultative way before making any final decisions.</span></p><p><span style="color:#FF0000;"><em>Achievement-oriented leadership</em> - the leader has faith in the ability of subordinates and therefore sets challenging goals with expectations of high-level performance.</span></p><p><span style="color:#FF0000;">The path-goal model also assumes that leaders can adapt to changing situations. In particular, House argued that leaders need to take account of two types of situational factors:</span></p><p><span style="color:#FF0000;"><em>Subordinate personality</em> - Leaders need to consider the traits of subordinates, e.g. their attitudes, experiences, abilities and level of willingness. For example, directive leadership is unlikely to be suitable for workers who are highly talented and competent.<br /><em>Characteristics of the environment</em> - In adapting their style, leaders should consider the parameters of the situation, e.g. the nature of the task, the resources available to complete the task and time pressures.</span></p></section></li><li><span style="font-family:arial,helvetica,sans-serif;">Kotter & Schlesinger's <a href="https://www.tutor2u.net/business/reference/change-management-how-to-overcome-resistance-to-change">Change Management model</a></span></li><li><span style="font-family:arial,helvetica,sans-serif;">D. Goleman's four competencies of Emotional Intelligence (EI)</span></li></ul><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><em>Note to teachers:</em></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Students writing an EE with a focus on <a href="businessmanagement/page/21755/23-leadership-and-management" title="Unit 2 » 2.3 Leadership and management">management and leadership</a> might find Daniel Goleman’s theory of emotional intelligence (EI) of interest and relevance.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span style="color:#FF0000;"><strong>Daniel Goleman’s four competencies of emotional intelligence</strong></span></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="204" src="/media/ib/businessmanagement/images/danielgoleman.jpg" width="265" /></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">How important is it for managers and leaders to be able to identify and understand the emotions of their staff? Can <strong>emotional intelligence</strong> enhance the ability of managers and leaders to motivate their staff? This short piece introduces the concept of emotional intelligence by looking at the work of Daniel Goleman.</span><span style="color:#FF0000;"></span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">What is emotional intelligence?</span></strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Emotional intelligence can be described as the ability to recognize and manage your own and others’ emotions, including the ability to self motivate, recognize the emotions of others, and to effectively handle interpersonal relationships. Emotional intelligence allows a manager or leader to influence other people’s emotional responses in order to achieve organization objectives. Emotional intelligence is increasingly relevant to business organizations, especially ethical and socially responsible ones, because:</span></span></p><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">EQ provides a relatively new way to identify, understand and gauge people’s attitudes, interpersonal skills, behaviour and (ultimately) their potential.</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">It introduces new principles to management styles.</span><span style="color:#FF0000;"></span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">EQ becomes an important consideration for workforce planning (including issues such as job profiling, recruitment and selection, appraisals, and training and development).</span></span></li></ul><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">Daniel Goleman</span></strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">American psychologist Daniel Goleman (b.1946) introduced emotional intelligence as competencies and skills that drive management and leadership performance. Goleman, a Ph.D. graduate of Harvard University, suggested that emotions play a key role in everyday decision making, even among people who prefer scientific decision making methods. For instance, the decisions and actions available to an irritated and angry manager are likely to differ from those available to a calm and collected manager. Goleman argued that individuals must first identify their emotions in order to manage them. Thus, it becomes vital to know how to enter into emotional states that enhance and enrich effective decision making. Goleman goes as far as suggesting that success in life correlates better with one’s emotional intelligence or quotient (EQ) than intelligence quotient (IQ).</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Goleman’s model in his book ‘Primal Leadership’ (2002) outlines four competencies which lead to an increased ability to establish and sustain good relationships in the workplace. He argued that these four competencies are not innate but learned abilities. The four competencies are: self-awareness, social awareness, self-management and social skills (relationship management).</span></span></p><hr class="hidden" /><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span><span style="color:#FF0000;"></span></span><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">The four competencies of emotional intelligence</span></strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><em><span style="color:#FF0000;">1. Self-awareness</span></em></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Self-awareness refers to the ability to recognize and understand your own emotions and to recognize the impact of these emotions. People with this competence recognize how their emotions affect their performance and they tend to rely on their gut feelings when making decisions. Self-aware people are conscious of their strengths and weaknesses and they reflect on their learning experiences.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">However, self-aware managers and leaders are said to have several potential negative ‘blind spots’ (or areas to be developed). These include:</span></span></p><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">the need to win or to be correct at any cost</span><span style="color:#FF0000;"></span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">setting excessively ambitious, and perhaps unattainable, goals for the team</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">compulsively hardworking and therefore being vulnerable to burnout</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">being power hungry - the manager or leader seeks to push others too hard and prefers not to delegate power</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">the strong need for recognition.</span></span></li></ul><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><em>2. Social awareness</em></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Social awareness (empathy) refers to the ability to sense, understand, and respond to the emotions of other people. Managers and leaders with this competence are sensitive and attentive to the needs and feelings of others. They display empathy and are able to understand the perspectives of other people (a key element of the International Baccalaureate <a href="businessmanagement/page/25192/tok-bm" title="The Core » TOK & BM">Theory of Knowledge</a> programme).</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">It is argued that social awareness is a key competence of managers and leaders who wish to develop their teams. Social awareness improves the ability of managers and leaders to offer constructive feedback and mentoring of staff.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><em><span style="color:#FF0000;">3. Self-management (self-regulation)</span></em></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Self-management refers to the ability to control your own emotions and adjust to changing situations. Managers and leaders with self-control can manage their impulsive emotions and stress by staying positive and composed (not an easy thing to do by any means!) Managers and leaders with this competence are ideal for leading radical change such as hostile takeovers since they can think clearly and stay highly focused even under immense pressure.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><em><span style="color:#FF0000;">4. Social Skills (Relationship management)</span></em></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Goleman’s concept of social skills (or relationship management) refers to the ability to inspire, influence and develop others. Managers and leaders with this aptitude also have the ability to manage organizational change and conflict. They have the ability to handle difficult people and difficult situations. Having this competency also means that the manager is likely to favour clear open channels of communication, team building and collaborative working practises. This will help the manager to orchestrate a win-win outcome during times of change and conflict. Having such skills means that the manager has to be receptive to bad news as well as good news.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><strong><span style="color:#FF0000;">Conclusions</span></strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Goleman’s model of emotional intelligence identifies several important domains for managers and leaders. First, it is important to know your own needs and feelings in order to manage your own emotions and to motivate yourself. Second, managers and leaders are more likely to be effective in meeting organizational objectives if they identify and understand other people’s emotions. The work of Goleman can enhance the interpretation of the works of motivational theorists such as <a href="businessmanagement/page/24561/motivation-theories" title="Unit 2 » 2.4 Motivation » Motivation theories">Maslow</a>, <a href="businessmanagement/page/24561/motivation-theories" title="Unit 2 » 2.4 Motivation » Motivation theories">Herzberg</a> and Mayo. Furthermore, emotional intelligence can allow managers and leaders to shift undesirable emotional states to more desirable ones – essential for driving effective change management. Essentially, this can mean that managers and leaders are more effective in understanding the link between their staff’s emotions and their action or productivity.</span></span></p><hr class="hidden" /></section><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;"><a href="https://www.tutor2u.net/business/reference/greiners-growth-model">Greiner's Growth Model</a></span></li><li>E. Mayo's Human relations theory (of motivation)</li></ul><section class="tib-hiddenbox"><p><strong><span style="color:#FF0000;">Elton Mayo's Human relations theory (of motivation)</span></strong></p><p><span style="color:#FF0000;">Australian psychologist Elton Mayo (1880 – 1949) conducted his experiments, which lasted over 4 years, in Hawthorne, USA. He disputed the idea of Taylor that labour productivity is influenced purely on scientific management methods. Instead, Mayo believed that workers are motivated by a more humane approach to management whereby human relations at work are the key factor. Mayo is credited for establishing the Human Relations school of thought on motivation.</span></p><p><span style="color:#FF0000;">The Hawthorne experiments concluded that non-financial factors can create greater motivation than financial incentives. Contrary to Mayo’s initial belief that working conditions would affect motivation levels at the Hawthorne factory, he found that any increase in output was simply due to staff working together better. Workers performed better when there was scope for discretion, creativity and teamwork. His study also found that motivation and productivity increased when managers took an interest in the welfare of their staff. In other words, people whose views and efforts are recognised feel a sense of belonging and are more motivated.</span></p><p><span style="color:#FF0000;">Mayo’s findings, called the <strong>Hawthorne effect</strong>, were instrumental in changing workforce planning and personnel management. The recruitment process started to look at people’s attitudes and personalities rather than just their educational background and skills. Businesses began to see the value in establishing constructive teams and organising social events, realising that staff enjoy interacting with their colleagues. However, Mayo also accepted that teamworking can be obstructive and unproductive so suggested that managers should encourage and oversee team spirit (loyalty and unity of team members) and group dynamics (exploiting the skills and expertise of each team member). Moreover, it became accepted that if managers simply showed an interest in their staff, this would usually drive workers to perform better.</span></p><p><span style="color:#FF0000;">Critics of Mayo’s theory argue that the findings are too generic. They feel that many workers, particularly those who lack experience or skills, actually want and welcome direction and control from management.</span></p></section><ul class="branded"><li>D. McClelland's Theory of needs (motivation theory)</li></ul><section class="tib-hiddenbox"><p><strong><span style="color:#FF0000;">McClelland's Theory of needs (motivation theory)</span></strong></p><p><span style="color:#FF0000;">American psychologist David McClelland (1917 – 1998) put forward the <strong>theory of needs</strong>. From his study of 500 managers working in 25 American companies, he concluded that three types of needs must be satisfied to boost morale:</span></p><ul class="branded"><li><span style="color:#FF0000;"><strong>Need for Achievement (n-Ach)</strong>. McClelland found that achievement-motivated people tend to be moderate risk takers. Low risk activities are too easy to accomplish so n-Ach people do not feel they have genuinely achieved anything. They do not take high risks either since the outcome is largely based on chance and luck, rather than through their own efforts. These people also prefer to work on tasks where they hold key responsibilities or to work alongside high achievers. They are more interested in personal success rather than extrinsic rewards that recognise their achievements. This could mean that n-Ach people prefer not to delegate tasks. They also tend to self-reflect on their performance in order to find ways to further improve. McClelland suggested that the major causes of n-Ach are parental influences, cultural factors and educational experiences.</span></li><li><span style="color:#FF0000;"><strong>Need for Power (n-Pow)</strong>. Power-motivated people like to influence the behaviour of others so tend to be very strong-willed. Power can take two forms: personal or institutional. Those who seek personal power do so to pass on instructions or orders to others. Perhaps this makes the person feel more important, but it often makes others resent the individual who is seen by others as a ‘power freak’. Staff will have to do as they are told, whether they agree with the n-Pow person or not. By contrast, people who have institutional power strive to make others work harder in order to achieve organizational aims and objectives. They use their authority to try and bring out the best in their staff. Hence, McClelland argued that these people are more likely to be successful. He also suggested that good leaders need to have at least moderate n-Pow since leadership is about influencing the behaviour of others.</span></li><li><span style="color:#FF0000;"><strong>Need for Affiliation (n-Aff)</strong>. People who need affiliation seek to have a good social and working relationship with colleagues and the management team. This makes them happier at work, thereby increasing their morale and productivity. Such people tend to conform to group norms and avoid conflict in order to be accepted as part of a group. Unlike n-Ach people who may prefer to work alone, n-Aff people favour opportunities for social interactions, such as teamworking or customer relations.</span></li></ul><p><span style="color:#FF0000;">McClelland believed that these three needs are present in all people although the relative intensity of each varies from one person to the next. His main contribution to the Human Relations school of thought is that people with different kinds of needs are motivated differently. Managers who are aware of these needs and how they affect employees can allocate jobs and tasks more suitably to boost morale and productivity. Those with high n-Ach ought to be given achievable but challenging tasks. People with high n-Pow could be given opportunities to manage and lead a team of people. Finally, those with n-Aff should be provided with a cooperative and collaborative working environment to gain their best performance.</span></p></section><ul class="branded"><li>D. McGregor's Theory X and Theory Y (motivation and leadership)</li></ul><section class="tib-hiddenbox"><p><strong><span style="color:#FF0000;">McGregor's Theory X and Theory Y</span></strong></p><p><span style="color:#FF0000;"><span style="color:#FF0000;">Professor </span>Douglas McGregor's (1906 – 1964) Theory X and Theory Y model is used to represent the different assumptions that managers have / make about their employees. McGregor argued that the beliefs held by managers about their workers' attitudes has a direct influence on their management style. Hence, McGregor’s theory is focused on management attitudes rather than motivational theory (although the two are closely linked).</span></p><p><span style="color:#FF0000;">McGregor used the term <em>Theory X</em> to explain negative management attitudes about the workforce. These managers see their workers as being lazy people, who avoid work if possible. They believe that workers need to be given clear instructions / directions and to be supervised because employees do not enjoy work and lack ambition. Theory X managers are most likely to adopt an authoritarian management style where the emphasis is on output and productivity, rather than on the people in the organization. As such, Theory X managers are likely to follow the scientific management approach advocated by <a href="businessmanagement/page/24561/motivation-theories" title="Unit 2 » 2.4 Motivation » Motivation theories">F.W. Taylor</a>.</span></p><p><span style="color:#FF0000;">By contrast, McGregor use the term <em>Theory Y </em>to describe managers who take a more positive approach and assume that employees are able to achieve organizational objectives out of their own accord and initiative. Theory Y managers believe that workers are able to take on responsibility and can gain satisfaction from their work. Demotivation, McGregor argued, is caused by a lack of challenge in a job. Hence, Theory Y managers adopt a more democratic and decentralised approach to their management style.</span><span style="color:#FF0000;"></span><span style="color:#FF0000;"></span></p><p><span style="color:#FF0000;">McGregor concluded that if managers take on a Theory Y approach, then workers respond accordingly with positive results for the whole organization. As US Army general George S. Patton (1885 - 1945) once said, <em>“Never tell people how to do things. Tell them what to do and they will surprise you with their ingenuity.”</em></span></p><p><span style="color:#FF0000;"><em>Note: </em>Theory X was used by McGregor to explain the negative managerial perceptions of worker attitudes. Hence, there are only Theory X (and Y) managers rather than Theory X (and Y) workers.</span></p></section><ul class="branded"><li>H. Mintzberg's framework of organizational structures</li></ul><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Henry Mintzberg (born 1939) suggested that the internal structure of an organization depends on both the complexity and the pace of change. He argued that a business can only remain successful if its organizational structure is flexible enough to deal with rapid changes in the market. Mintzberg suggested that organizational structures can consist of up to six basic parts:</span></p><p><img alt="" height="279" src="/media/ib/businessmanagement/images/one-use/mintzberg.jpg" width="370" /></p><p><span style="color:#FF0000;"><em>Henry Mintzberg’s framework of organizational structures</em></span></p><p><span style="color:#FF0000;">1. <em>Ideology </em>- the culture of the organization, i.e. its beliefs, values and traditions.<br />2. <em>Strategic apex</em> - the senior management team, i.e. the key decision makers.<br />3. <em> Middle line</em> - the team of middle managers in the organization.<br />4. <em>Operating core</em> - the operational staff and processes within the organization.<br />5. <em>Techno structure </em>- the team and system of technical support.<br />6. <em>Support staff</em> - auxiliary staff outside of operational processes, such as clerical staff and those working in public relations.</span></p><p><span style="color:#FF0000;">From the above, Mintzberg came up with six organizational configurations. He suggested that all of these may be present within an organization, but one structure is likely to dominate.</span></p><ol><li><span style="color:#FF0000;"><em>Innovative organizations</em> (or <em>adhocracy</em>) - This structure requires staff being split between small project teams (called ‘silos’) that deal with a specific task or problem. Decentralised decision making takes place. There are no standardised procedures for dealing with routine problems. As these teams work on individual and independent projects, the firm becomes very flexible and adaptive to change.</span></li><li><span style="color:#FF0000;"><em>Entrepreneurial organizations</em> - Decision making power in such organizations is retained by the strategic apex. There is direct supervision of staff and decision making is centralised, meaning that flatter hierarchical structures exist.</span></li><li><span style="color:#FF0000;"><em>Machine organizations</em> - Coordination is done by specifying the work processes of people, such as the operating core or technostructure. Work is based on what Mintzberg called ‘machine bureaucracy’, i.e. specialisation and standardisation. Procedures are formalised so communication is clear and reliable. However, the fixed processes and procedures means the organization is inflexible.</span></li><li><span style="color:#FF0000;"><em>Divisionalised organizations</em> - Coordination is through the middle line who ensure that their teams achieve standardisation of output. Since there is standardisation, such structures are inflexible in responding to rapid change. However, Mintzberg suggested that effective decentralisation and delegation can lead to a high level of flexibility.</span></li><li><span style="color:#FF0000;"><em>Professional organizations</em> - In this structure, professionals with standardised skills tend to make up most of the operating core. They rely on prior knowledge and learnt skills. However, professional bureaucracy is inflexible since this structure uses highly specialised staff (such as brain surgeons or astronauts) who are not adaptable to other roles.</span></li><li><span style="color:#FF0000;"><em>Missionary organizations</em> - This refers to coordination through the standardisation of organizational norms (the ideology). Every individual works on the same set of beliefs and norms rather like religious organizations.</span></li></ol><p><span style="color:#FF0000;">Mintzberg’s research suggests there are different organizational configurations to suit different businesses. For example, machine bureaucracy is better suited to capital-intensive organizations that rely heavily on the use of machinery. He argued that adhocracy and entrepreneurial organizations are the most flexible, and are therefore the most suited to embracing change. Mintzberg suggested that for any structure to work effectively, employees must believe in the organization’s common values (ideology).</span></p><p><span style="color:#FF0000;">Henry Mintzberg is Professor of Management Studies at the Desautels Faculty of Management of McGill University in Montreal, Quebec, Canada - where he has taught since 1968.</span></p></section><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;">Bartlett & Ghoshal's <a href="https://www.tutor2u.net/business/reference/bartlett-ghoshal-model-international-strategy">Model of International Strategy</a></span></li><li><span style="font-family:arial,helvetica,sans-serif;">Hackman & Oldham’s <a href="https://www.tutor2u.net/business/reference/hackman-oldhams-job-characteristics-model">Job Characteristics Model</a></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><a href="https://www.tutor2u.net/business/reference/porters-model-of-industry-rivalry-five-forces">Porter's five forces analysis</a></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><a href="https://www.tutor2u.net/business/reference/porters-generic-strategies-for-competitive-advantage">Porter's generic strategies</a></span></li></ul><section class="tib-hiddenbox"><p><strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Porter's generic strategies</span></span></strong></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Professor Michael Porter (b.1947) of Harvard Business School is known throughout the world for his academic work on business </span><a href="businessmanagement/page/22132/strategy" title="CUEGIS » The 6 CUEGIS concepts » Strategy"><span style="color:#FF0000;">strategy</span></a><span style="color:#FF0000;">. One of his most used tools in <strong>Porter's generic strategies</strong>, which outlines the ways that any business - of any size and operating in any industry - can gain a competitive advantage. If a profitable product or idea can be copied easily, then other firms will simply take advantage by entering the market and taking market share from the existing firm(s) in the industry. Rival businesses might offer an improved product or charge more competitive prices. Hence the original firm in the market loses its competitive advantage.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Porter argued that every successful business must have a <strong>competitive advantage </strong>to prevent profits being eroded by rival businesses entering the market. He suggested that there are three generic or broad strategies that any business can use to sustain a competitive advantage.</span></span></p><p><img alt="" height="199" src="/media/ib/businessmanagement/images/toolkit-(bmt)/porter-s-generic-strategies.jpg" width="400" /></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>1. Cost leadership</strong></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>Cost leadership </strong>means to become the lowest cost supplier of a product within the market. Cost leadership is concerned with minimising costs of production. For example, McDonald’s sells its fast food products at lower prices than premium burger restaurant chains such as Five Guys, Shake Shack, or MAX Burgers. For a cost leadership strategy to succeed, a business needs to be able to reduce its operational costs substantially. McDonald’s large scale operations enables the world's largest fast food brand to achieve huge economies of scale thereby enabling the company to reduce its average or unit costs of production. Other examples of companies that use a cost leadership strategy include IKEA (the world's largest furniture retailer), Aldi (Germany’s largest chain of discount supermarkets), and Malaysia's AirAsia (the largest low-cost airline carrier in Southeast Asia).</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><img alt="" src="/media/ib/businessmanagement/images/airline-(budget).png" style="width: 300px; height: 140px;" /></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><em>Budget airlines use a cost leadership strategy</em></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Although these firms might charge low prices, they are highly profitable and market leaders in their respective industries. They do not compete with firms that offer higher-quality products since this would require price hikes. The only way to directly compete with these firms is by using </span><a href="businessmanagement/page/22531/penetration-pricing" title="Unit 4 » 4.5 The four Ps » Price » Penetration pricing"><span style="color:#FF0000;">penetration</span></a><span style="color:#FF0000;"> or </span><a href="businessmanagement/page/22540/predatory-pricing" title="Unit 4 » 4.5 The four Ps » Price » Predatory pricing"><span style="color:#FF0000;">predatory</span></a><span style="color:#FF0000;"> pricing strategies. Alternatively, firms might choose to use technology to cut wastage and to improve productivity, thereby reducing unit costs of production. Hence, cost leaders can enjoy greater profit margins.</span></span></p><div class="dottedBox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Features of low-cost (budget) airlines</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">• Generally charge low fares<br />• Use less congested (cheaper) airports to reduce costs<br />• Charge extra for food and drink - no hot meals (which cuts costs further), just snacks and drinks<br />• Extra charges for: priority booking, seat allocation and baggage<br />• Limited services (flight destinations)<br />• Single class travel (no business or first class)<br />• Single type of aircraft used (reduces training costs and servicing costs)<br />• No in-flight entertainment – or provided at an extra charge<br />• No seat recliners and no seat pockets (for magazines and other items)</span></span></p></div><p><span style="color:#FF0000;"><strong>Methods to achieve cost leadership </strong></span></p><ul><li><span style="color:#FF0000;">Improved supply chains - Some businesses own their suppliers, thereby avoiding the profit margins in the form of higher prices otherwise charged by their suppliers. Some supermarket chains, for example, own their own farms that supply their products. Zara, the Spanish clothes retail giant, also owns many of its suppliers. IKEA, the world's largest furniture retailer, designs and develops all its own products.</span></li><li><span style="color:#FF0000;">Relocation - A business can be located nearer to its suppliers and/customers in order to reduce transportation and distribution costs.</span></li></ul><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>2. Differentiation</strong></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">A second generic strategy is <strong>differentiation</strong>. This<strong> </strong>happens when a firm makes its mass-market products distinct from those of its competitors, e.g. by packaging or </span><a href="businessmanagement/page/22516/the-importance-of-branding" title="Unit 4 » 4.5 The four Ps » Product » The importance of branding"><span style="color:#FF0000;">branding</span></a><span style="color:#FF0000;">. Attention is on the quality rather than the cost (and hence the price) of a product. Coca-Cola, BMW, Nike and Apple use this strategy to maintain their competitive advantage. These businesses might choose to use copyrights and patents to protect their competitive advantage.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Successful differentiation will allow a business to charge a premium price (a price higher than the industry average), thereby earning a higher profit margin. A key drawback of differentiation is that it can be expensive, such as the amount of money needed to successfully develop and promote a high-quality product that stands out from others available on the market.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>3. Focus</strong></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">The third generic strategic is called <strong>focus</strong>. A focus strategy has two variants - businesses <span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">gain a competitive advantage by either focusing on being a low cost producer (<strong>cost focus</strong>), such as discount bric-a-brac stores, or by differentiation within a particular segment (<strong>differentiation focus</strong>) such as Ferrari, Gucci, Rolex and Chanel.</span></span></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><img alt="" src="/media/ib/businessmanagement/ferrari.png" style="width: 300px; height: 135px;" /></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><em>Ferrari uses a differentiation focus strategy</em></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Differentiation </span></span></strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>focus</strong> </span></span>occurs when a business targets a niche or single segment of the market. For example, InThinking focuses on (specialises in) providing dedicated high-quality online resources to support IB Diploma and MYP teachers and students. Differentiation focus can be a highly profitable strategy due to the high prices that can be charged (and hence the high profit margins) and due to the lack of competition. The drawback is that the market size is rather limited.</span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Porter suggests that it is not possible in the long term to adopt a mixture of these three generic strategies. For example, it is not feasible or sustainable to maintain high quality by using a cost leadership strategy, i.e. firms cannot expect to be highly profitable <em>and</em> to have an image of outstanding quality by charging low prices. Porter suggests that firms without a clear business strategy are ‘stuck in the middle’, with detrimental consequences. His generic strategies help managers to concentrate on a specific strategy that best serves their organizations.</span></span></p><div class="yellowBg"><p><span style="color:#FF0000;"><strong>Summary</strong></span></p><p><span style="color:#FF0000;">Michael Porter’s generic strategies outline the ways that any business can gain a competitive advantage:</span></p><ul><li><span style="color:#FF0000;">Cost leadership</span></li><li><span style="color:#FF0000;">Differentiation</span></li><li><span style="color:#FF0000;">Focus - Cost focus or Differentiation focus</span></li></ul><p><span style="color:#FF0000;"> He argued that every successful business must have a competitive advantage to prevent profits being eroded by rivals entering the market.</span></p></div><hr class="hidden" /></section><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;"><a href="https://www.tutor2u.net/business/reference/strategic-drift">Strategic drift theory</a></span></li><li><a href="http://www.kilmanndiagnostics.com/overview-thomas-kilmann-conflict-mode-instrument-tki">Thomas-Kilmann’s Conflict Instrument</a> (conflict resolution matrix)</li><li>V. Vroom's Expectancy Theory (of motivation)</li></ul><section class="tib-hiddenbox"><p><span style="color:#FF0000;"><strong>Vroom’s Expectancy Theory (of motivation)</strong></span></p><p><span style="color:#FF0000;">Victor Vroom <span style="color:#FF0000;">(1964) </span>suggested that people only put in the effort to do a task if they expect that their role will help to achieve the required result. If workers feel they lack the ability, expertise or skill to achieve a target, then their level of effort will be lower (which reflects a lower level of motivation). Vroom’s work shows that a variety of factors affect a person’s approach to work. However, it is assumed that workers will choose the route that offers the greatest probability of achieving their goals.</span></p><p><span style="color:#FF0000;">Vroom found a positive correlation between a person’s efforts and his or her level of performance. He recognised that a worker’s performance is based on personal factors such as experience, skills, knowledge and self-belief. He argued that when faced with alternative approaches to dealing with a certain task, people choose the option with the greatest motivation force, consisting of three parts:</span></p><ul class="branded"><li><span style="color:#FF0000;"><strong>Expectancy </strong>- People have different expectations about their capability and self-confidence in tackling a task. There are also different perceptions about the level of difficulty of the task.</span></li><li><span style="color:#FF0000;"><strong>Instrumentality </strong>- People hold the perception that if they meet performance targets then they will be rewarded accordingly (or what they think is desirable as an award). Managers must ensure that promises are kept to gain people’s trust and therefore their level of motivation.</span></li><li><span style="color:#FF0000;"><strong>Valence </strong>- Managers need to find out what staff value since people place different values on different rewards. In tackling a task, people consider whether it is worth any extra effort in terms of both intrinsic rewards (such as satisfaction and ego) and extrinsic rewards (such as money and promotion).</span></li></ul></section></div></div></div><ul class="branded"></ul><hr class="hidden" /><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Top tip!</span></span></h5><p>Students must carry out in-depth secondary research, including a broad literature review. Please note the following statement of adivce from the BM EE Examiner Report (May 2018):</p><p><em>"For their EE, students must carry out substantial secondary academic research, for example in specialised literature or academic journals." </em>(page 3)</p><p>and</p><p><em>"The EE is a scholarly piece of work; quotes from interviews could be integrated in the analysis, but the focus must be secondary research" </em>(page 4)</p></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Top tip!</span></span></h5><p>Simply referring to or using terminology, tools, theories and techniques that go beyond the syllabus does not justify examiners awarded 5 or 6 marks for <a href="businessmanagement/page/21836/understanding-the-assessment-criteria" title="The Core » The EE » Understanding the assessment criteria">assessment criterion B</a>. Instead, it is about how the appropriate terminology, tools, theories and techniques are applied competently and effectively to the research question that matters. It is not necessary to go beyond the syllabus to score an A (if that is the objective), although the EE is a highly academic piece of research work, so where appropriate, students may use tools, theories and techniques that are not featured in the official syllabus.</p><p>As always, what is appropriate for a particular essay really depends on the research question of the EE. It’s like saying, I have a hammer and spanner - can I use them? Not if you’re trying to change a lightbulb.</p><p><img alt="" height="159" src="/media/ib/businessmanagement/images/tools%2C-theories-and-techniques.jpg" width="270" /></p><p><span style="color:#696969;"><em>Use the right tools for the right task at hand</em></span></p></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Top tip!</span></span></h5><p>As with all forms of IB assessment, it is vital that students are clear in their communications and use fit-for-purpose paragraphs in their essays. Take a look at this short video clip - in a lighthearted way - which highlights the importance of clarity in explanations.</p><p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/sl5Xb5XoGTU" width="640"></iframe></p></div><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;">Return to <a href="businessmanagement/page/21665/the-ee" title="The EE">The Extended Essay</a> homepage</span></p><span style="font-family:arial,helvetica,sans-serif;"><a href="businessmanagement/"><img alt="" src="/media/ib/businessmanagement/logo-blue-black.png" style="width: 170px; height: 54px;" /></a></span><script>document.querySelectorAll('.tib-teacher-only').forEach(e => e.remove());</script>
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