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class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21762/14-stakeholders.html" 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="../22259/the-interests-of-stakeholders.html" title="The interests of stakeholders">The interests of stakeholders</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22264/stakeholder-conflict.html" title="Stakeholder conflict">Stakeholder conflict</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../30801/14-comprehension-questions.html" 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="../../task/396015.html" title="1.4 Smart quiz questions">1.4 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class="expander fa fa-caret-right "></i><a class="" href="../25471/glossary-organizational-structure.html" 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="../21755/23-leadership-and-management.html" 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="../24733/glossary-leadership-management.html" 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="../24745/24-motivation.html" 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="../24719/glossary-motivation.html" 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="../21757/25-organizational-culture-hl-only.html" 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="../25243/glossary-organizational-culture.html" 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="../21758/26-industrialemployee-relations-hl-only.html" 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="../25125/glossary-industrialemployee-relations.html" 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="../21670/unit-3.html" 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="../21744/31-sources-of-finance.html" 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="../24501/glossary-sources-of-finance.html" 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="../21745/32-costs-and-revenues.html" 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="../22092/glossary-costs-revenues.html" 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="../21746/33-break-even-analysis.html" 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="../22270/contribution-analysis.html" title="Contribution analysis">Contribution analysis</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22093/glossary-break-even-analysis.html" 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="../21747/34-final-accounts.html" 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="../31367/glossary-final-accounts.html" 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="../21748/35-profitability-and-liquidity-ratio-analysis.html" 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="../25111/glossary-profitability-and-liquidity-ratio-analysis.html" 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="../21749/36-efficiency-ratio-analysis-hl-only.html" 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="../25114/glossary-efficiency-ratios.html" 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="../21750/37-cash-flow.html" 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="../25118/cash-flow-forecasts.html" 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="../31376/glossary-cash-flow.html" 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="../21751/38-investment-appraisal.html" 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="../31377/glossary-investment-appraisal-.html" 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="../21752/39-budgets-hl-only.html" 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="../31378/39-budgets-hl-only-glossary.html" 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="../21684/unit-4.html" 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="../21767/41-the-role-of-marketing.html" 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="../25618/glossary-the-role-of-marketing.html" 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="../21768/42-marketing-planning.html" 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="../28328/glossary-marketing-planning.html" 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="../21769/43-sales-forecasting-hl-only.html" 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="../25713/glossary-sales-forecasting.html" 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="../21713/44-market-research.html" 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="../25208/glossary-market-research.html" 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="../21770/45-the-four-ps.html" 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="../22627/glossary-product.html" 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="../22525/price.html" 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="../22548/glossary-price.html" 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="../22567/promotion.html" 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="../22704/45-promotion-glossary.html" 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="../22745/place.html" 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="../23813/45-place-glossary.html" 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="../21774/46-the-extended-marketing-mix-7-ps-hl.html" 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="../23814/glossary-the-extended-marketing-mix-hl.html" 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="../21772/47-international-marketing-hl-only.html" 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="../23815/glossary-international-marketing-hl.html" 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="../21773/48-e-commerce.html" 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="../23797/glossary-e-commerce.html" 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="../21688/unit-5.html" 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="../21937/51-the-role-of-operations-management.html" 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="../24843/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21938/52-production-methods.html" 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="../24848/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21939/53-lean-production-quality-management-hl.html" 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="../24839/glossary-lean-production-and-quality-management.html" 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="../21700/54-location.html" 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="../24959/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21695/55-production-planning-hl.html" 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="../25032/glossary-production-planning.html" 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="../33222/56-research-development-hl.html" 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="../34014/glossary-research-development.html" 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="../21941/57-crisis-management-contingency-planning-hl.html" 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="../25042/glossary.html" 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="../25115/cuegis.html" 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="../21954/mcdonalds-supersize-me.html" 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="../22876/planning-your-cuegis-essay.html" 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="../33806/paper-2-section-c-questions.html" 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="../33959/the-ia.html" 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="../22190/35-sample-research-questions-for-the-hl-ia.html" 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="../22200/hl-ia-student-checklist.html" 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="../33508/ia-hl-poster.html" 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="../22146/sl-ia-20-sample-titles.html" 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="../38181/faq-about-the-sl-ia.html" 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="../22114/exams.html" 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="../22115/command-terms.html" title="Command Terms">Command Terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../36599/glossary-of-key-terms.html" 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="../38059/flashcards-revision.html" 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="../38060/flashcards-revision-unit-1.html" 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="../38056/unit-11-revision-flashcards.html" 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="../38061/unit-12-revision-flashcards.html" 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="../38067/unit-13-revision-flashcards.html" 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="../38092/unit-14-revision-flashcards.html" 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="../38096/unit-15-revision-flashcards.html" 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="../38102/unit-16-revision-flashcards.html" 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="../38103/unit-17-revision-flashcards.html" 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="../38114/flashcards-revision-unit-2.html" 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="../38121/unit-21-revision-flashcards.html" 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="../38125/unit-22-revision-flashcards.html" 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="../38126/unit-23-revision-flashcards.html" 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="../38144/unit-24-revision-flashcards.html" 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="../38146/unit-25-revision-flashcards.html" 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="../38147/unit-26-revision-flashcards-hl-only.html" 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="../38149/flashcards-revision-unit-3.html" 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="../38153/unit-31-revision-flashcards.html" 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="../38154/unit-32-revision-flashcards.html" 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="../38182/unit-33-revision-flashcards.html" 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="../38183/unit-34-revision-flashcards.html" 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="../38191/unit-35-revision-flashcards.html" 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="../38192/unit-36-revision-flashcards-hl.html" 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="../38193/unit-37-revision-flashcards.html" 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="../38194/unit-38-revision-flashcards.html" 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="../38195/unit-39-revision-flashcards.html" 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="../38196/flashcards-revision-unit-4.html" 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="../38198/unit-41-revision-flashcards.html" 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="../38203/unit-42-revision-flashcards.html" 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="../38217/unit-43-revision-flashcards.html" 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="../38218/unit-44-revision-flashcards.html" 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="../38219/unit-45a-product-revision-flashcards.html" 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="../38220/unit-45b-price-revision-flashcards.html" 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="../38221/unit-45c-promotion-revision-flashcards.html" 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="../38222/unit-45d-promotion-revision-flashcards.html" 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="../38223/unit-46-revision-flashcards-hl.html" 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="../38224/unit-47-revision-flashcards-hl.html" 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="../38225/unit-48-e-commerce-flashcards.html" 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="../38232/flashcards-revision-unit-5.html" 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="../38233/unit-51-revision-flashcards.html" 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="../38234/unit-52-revision-flashcards.html" 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="../38235/unit-53-revision-flashcards-hl.html" 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="../38236/unit-54-revision-flashcards.html" 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="../38237/unit-55-revision-flashcards-hl.html" 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="../38238/unit-56-revision-flashcards-hl.html" 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="../38239/unit-57-revision-flashcards-hl.html" 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="../33830/formulae-quiz.html" 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="../44969/n22-case-study-ele-plc.html" 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="../44106/additional-exam-questions-paper-1.html" 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="../32840/may-2020-p-s-trawlers.html" 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="../47825/paper-1-svt-study-guide-shirin-karimi.html" 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="../26095/exam-study-tips-resources.html" 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="../31342/revision-exams-top-tips.html" 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="../47460/top-tips-for-m23-exams.html" 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="../43522/unit-1-intro-to-bm.html" title="Unit 1 - Intro to BM">Unit 1 - Intro to BM</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44034/11-what-is-a-business.html" title="1.1 What is a business?">1.1 What is a business?</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399681.html" title="1.2 Types of business entities">1.2 Types of business entities</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44041/13-business-objectives.html" title="1.3 Business objectives">1.3 Business objectives</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44044/14-stakeholders.html" title="1.4 Stakeholders">1.4 Stakeholders</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44045/15-growth-and-evolution.html" title="1.5 Growth and evolution">1.5 Growth and evolution</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44046/16-multinational-companies.html" title="1.6 Multinational companies">1.6 Multinational companies</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43530/unit-2-hrm.html" 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="../44253/21-introduction-to-hrm.html" 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="../44256/role-of-hrm.html" 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="../44257/factors-that-influence-hr-planning.html" 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="../44282/reasons-for-resistance-to-change.html" 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="../44283/hr-strategies-for-reducing-the-impact-of-change-resistance-to-ch.html" 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="../45458/21-true-or-false-quiz.html" 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="../43677/21-glossary-of-key-terms.html" title="2.1 Glossary of key terms">2.1 Glossary of key terms</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43875/22-organizational-structure.html" title="2.2 Organizational structure">2.2 Organizational structure</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44338/23-leadership-and-management.html" 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="../45462/23-true-or-false-quiz.html" 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="../43829/24-motivation-and-demotivation.html" 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="../44371/types-of-training.html" title="Types of training">Types of training</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44390/25-organizational-corporate-culture-hl.html" title="2.5 Organizational (corporate) culture (HL)">2.5 Organizational (corporate) culture (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44247/26-communication.html" 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="../43545/unit-3-finance.html" 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="../44435/31-introduction-to-finance.html" 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="../44431/31-introduction-to-finance-role-of-finance.html" 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="../45634/31-glossary-of-key-term.html" 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="../44436/32-sources-of-finance.html" 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="../44437/internal-sources-of-finance.html" 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="../44450/external-sources-of-finance.html" 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="../44479/appropriateness-of-sources-of-finance.html" 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="../45483/32-true-or-false-quiz.html" 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="../43688/32-glossary-of-key-terms.html" title="3.2 Glossary of key terms">3.2 Glossary of key terms</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44486/33-costs-and-revenues.html" title="3.3 Costs and revenues">3.3 Costs and revenues</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44492/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44593/35-profitability-liquidity-ratio-analysis.html" title="3.5 Profitability & liquidity ratio analysis">3.5 Profitability & liquidity ratio analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44627/36-efficiency-ratio-analysis-hl-only.html" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44493/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44515/38-investment-appraisal.html" 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="../44519/net-present-value-npv-hl.html" title="Net present value (NPV) (HL)">Net present value (NPV) (HL)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44564/39-budgets-hl.html" title="3.9 Budgets (HL)">3.9 Budgets (HL)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43547/unit-4-marketing.html" title="Unit 4 - Marketing">Unit 4 - Marketing</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44637/41-introduction-to-marketing.html" title="4.1 Introduction to marketing">4.1 Introduction to marketing</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43823/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44660/43-sales-forecasting-hl.html" 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="../44669/benefits-limitations-of-sales-forecasting.html" title="Benefits & limitations of sales forecasting">Benefits & limitations of sales forecasting</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44679/44-market-research.html" 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="../44680/why-how-organizations-carry-out-market-research.html" title="Why & how organizations carry out market research">Why & how organizations carry out market research</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44720/45-the-seven-ps-of-the-marketing-mix.html" 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="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44740/451-product.html" title="4.5.1 Product">4.5.1 Product</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44782/453-promotion.html" title="4.5.3 Promotion">4.5.3 Promotion</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44697/46-international-marketing-hl.html" title="4.6 International marketing (HL)">4.6 International marketing (HL)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43565/unit-5-operations-mgt.html" title="Unit 5 - Operations Mgt">Unit 5 - Operations Mgt</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44817/51-introduction-to-operations-management.html" title="5.1 Introduction to operations management">5.1 Introduction to operations management</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44812/52-operations-methods.html" title="5.2 Operations methods">5.2 Operations methods</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44861/53-lean-production-quality-management-hl.html" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44840/55-break-even-analysis.html" title="5.5 Break-even analysis">5.5 Break-even analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44890/56-production-planning-hl.html" title="5.6 Production planning (HL)">5.6 Production planning (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45242/57-crisis-management-contingency-planning-hl.html" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45669/59-management-information-systems-hl.html" title="5.9 Management Information Systems (HL)">5.9 Management Information Systems (HL)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43603/exams.html" 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="../43740/command-terms.html" title="Command terms">Command terms</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45612/glossary-of-key-terms.html" title="Glossary of key terms">Glossary of key terms</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../33955/the-core.html" title="The Core">The Core</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The EE">The EE</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../32857/ee-planning-form.html" 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="../37390/managing-the-ee-process.html" title="Managing the EE process">Managing the EE process</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../25192/tok-bm.html" title="TOK & BM">TOK & BM</a></li></ul><li class=" parent 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<div id="main-column" class="span9"> <article id="primary-secondary-tertiary-quaternary-sectors" style="margin-top: 16px;">
<h1 class="section-title">Primary, secondary, tertiary & quaternary sectors</h1>
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<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);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><span style="font-family:arial,helvetica,sans-serif;">Primary, secondary, tertiary and quaternary sectors (AO2)</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;">This section of the IB Business Management syllabus looks at the nature of business activity in each sector of the economy and the impact of sectoral change on business activity (AO2).</span></p></div></div></div><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);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><span style="font-family:arial,helvetica,sans-serif;">The primary sector (AO2)</span></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/primary.jpg" style="width: 320px; height: 182px;"></span></p><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>primary sector </strong>refers to business activity involved with the extraction of natural resources. <span data-reactid=".fke1wsm6dw.0.0.0.1:0.2.0.$0.$1.$1.$0.3"> For example, metal ores and coal have to be mined, oil and natural gas have to be drilled from the ground, rubber needs to be extracted from trees, foodstuffs need to be farmed, livestock need to be managed by farmers, and fish need to be trawled. Hence, primary sector production is also known as <strong>extractive production</strong>.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span data-reactid=".fke1wsm6dw.0.0.0.1:0.2.0.$0.$1.$1.$0.3"></span>Examples of primary sector output include:</span></p><div class="row-fluid"><div class="span6 col-left"><div><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Agricultural farming (crops)</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Animal husbandry (animals and livestock)</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Extraction of oil and gas</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Fishing</span></p></li></ul></div></div><div class="span6"><div><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Forestry and logging</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Hunting</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Mining</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Quarrying</span></p></li></ul></div></div></div><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">Primary sector output is the predominant sector in less economically developed countries (LEDCs) or low-income economies. It accounts for the majority of gross domestic product (GDP) and employment in these economies (see Table 1.1.1). Examples of such goods produced in the primary sector include oil, gas, water, fish, fruits and vegetables, and wood.</span></p><p><em>Table 1.1.1 – Composition of gross domestic product (GDP) by production sector, 2017</em></p><table border="1" cellpadding="0" cellspacing="0"><tbody><tr><td nowrap="nowrap" style="width:208px;height:21px;"><p><strong>Country</strong></p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;"><strong>Agricultural</strong></p><p style="text-align: center;"><strong>(% of GDP)</strong></p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;"><strong>Secondary</strong></p><p style="text-align: center;"><strong>(% of GDP)</strong></p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;"><strong>Services</strong></p><p style="text-align: center;"><strong>(% of GDP)</strong></p></td></tr><tr><td nowrap="nowrap" style="width:208px;height:21px;"><p>Sierra Leone</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">60.70</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">6.50</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">32.90</p></td></tr><tr><td nowrap="nowrap" style="width:208px;height:21px;"><p>Somalia</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">60.20</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">7.40</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">32.50</p></td></tr><tr><td nowrap="nowrap" style="width:208px;height:21px;"><p>Chad</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">52.30</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">14.70</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">33.10</p></td></tr><tr><td nowrap="nowrap" style="width:208px;height:21px;"><p>Guinea-Bissau</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">50.00</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">13.10</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">36.90</p></td></tr><tr><td nowrap="nowrap" style="width:208px;height:21px;"><p>Comoros</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">47.70</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">11.80</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">40.50</p></td></tr><tr><td nowrap="nowrap" style="width:208px;height:21px;"><p>Central African Republic</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">43.20</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">16.00</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">40.80</p></td></tr><tr><td nowrap="nowrap" style="width:208px;height:21px;"><p>Mali</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">41.80</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">18.10</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">40.50</p></td></tr><tr><td nowrap="nowrap" style="width:208px;height:21px;"><p>Niger</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">41.60</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">19.50</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">38.70</p></td></tr><tr><td nowrap="nowrap" style="width:208px;height:21px;"><p>Sudan</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">39.60</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">2.60</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">57.80</p></td></tr><tr><td nowrap="nowrap" style="width:208px;height:21px;"><p>Burundi</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">39.50</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">16.40</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">44.20</p></td></tr><tr><td nowrap="nowrap" style="width:208px;height:21px;"><p>Ethiopia</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">34.80</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">21.60</p></td><td nowrap="nowrap" style="width:103px;height:21px;"><p style="text-align: center;">43.60</p></td></tr></tbody></table><p><em>Source</em>: adapted from <a href="https://www.cia.gov/library/publications/resources/the-world-factbook/fields/208.html">CIA Factbook</a></p><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>added value</strong> of primary sector output is relatively low. For example, raw materials used to manufacture a smartphone costs far less than the final product sold to consumers.</span></p></div></div></div><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);"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><span style="font-family:arial,helvetica,sans-serif;">The secondary sector (AO2)</span></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/manufacturing.jpg" style="width: 300px; height: 178px;"></span></p><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>secondary sector</strong> refers to business activity involved with the manufacturing or construction of finished products. It encompasses transforming primary sector output into finished goods, ready for sale or use by the consumer. For instance, plastics need to be made from using oil. It also includes businesses that are involved in transforming other secondary sector output into finished goods, such as assembling the component parts of motor vehicles, laptops, or smartphones.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Examples of secondary sector production include:</span></p><div class="row-fluid"><div class="span6 col-left"><div><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Car manufacturing</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Carpentry</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Construction</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Engineering</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Energy production</span></p></li></ul></div></div><div class="span6"><div><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Food processing</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Oil refining</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Road construction</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Steelworks</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Tailors and dress makers</span></p></li></ul></div></div></div><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">Secondary sector output is the predominant sector in economically developing countries (or middle-income economies). It accounts for the majority of gross domestic product (GDP) and employment in these countries or states. However, in many high-income countries, the mass use of high-tech mechanisation and automation has also caused unemployment in some <span style="font-family:arial,helvetica,sans-serif;">manufacturing </span> industries.</span></p><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(61, 30, 128);"> </span> Case Study - The world’s largest manufacturers (USD billion), 2016</span></span></h5><table border="1" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:57px;height:26px;"><p align="center"><strong><span style="font-family:arial,helvetica,sans-serif;">Rank</span></strong></p></td><td style="width:142px;height:26px;"><p><strong><span style="font-family:arial,helvetica,sans-serif;">Country</span></strong></p></td><td style="width:113px;height:26px;"><p><strong><span style="font-family:arial,helvetica,sans-serif;">Output ($bn)</span></strong></p></td></tr><tr><td style="width:57px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">1</span></p></td><td style="width:142px;"><p><span style="font-family:arial,helvetica,sans-serif;">China</span></p></td><td style="width:113px;"><p><span style="font-family:arial,helvetica,sans-serif;">4,566</span></p></td></tr><tr><td style="width:57px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">2</span></p></td><td style="width:142px;"><p><span style="font-family:arial,helvetica,sans-serif;">USA</span></p></td><td style="width:113px;"><p><span style="font-family:arial,helvetica,sans-serif;">3,602</span></p></td></tr><tr><td style="width:57px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">3</span></p></td><td style="width:142px;"><p><span style="font-family:arial,helvetica,sans-serif;">Japan</span></p></td><td style="width:113px;"><p><span style="font-family:arial,helvetica,sans-serif;">1,368</span></p></td></tr><tr><td style="width:57px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">4</span></p></td><td style="width:142px;"><p><span style="font-family:arial,helvetica,sans-serif;">Germany</span></p></td><td style="width:113px;"><p><span style="font-family:arial,helvetica,sans-serif;">1,050</span></p></td></tr><tr><td style="width:57px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">5</span></p></td><td style="width:142px;"><p><span style="font-family:arial,helvetica,sans-serif;">India</span></p></td><td style="width:113px;"><p><span style="font-family:arial,helvetica,sans-serif;">672</span></p></td></tr><tr><td style="width:57px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">6</span></p></td><td style="width:142px;"><p><span style="font-family:arial,helvetica,sans-serif;">South Korea</span></p></td><td style="width:113px;"><p><span style="font-family:arial,helvetica,sans-serif;">531</span></p></td></tr><tr><td style="width:57px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">7</span></p></td><td style="width:142px;"><p><span style="font-family:arial,helvetica,sans-serif;">UK</span></p></td><td style="width:113px;"><p><span style="font-family:arial,helvetica,sans-serif;">505</span></p></td></tr><tr><td style="width:57px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">8</span></p></td><td style="width:142px;"><p><span style="font-family:arial,helvetica,sans-serif;">France</span></p></td><td style="width:113px;"><p><span style="font-family:arial,helvetica,sans-serif;">478</span></p></td></tr><tr><td style="width:57px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">9</span></p></td><td style="width:142px;"><p><span style="font-family:arial,helvetica,sans-serif;">Italy</span></p></td><td style="width:113px;"><p><span style="font-family:arial,helvetica,sans-serif;">442</span></p></td></tr><tr><td style="width:57px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">10</span></p></td><td style="width:142px;"><p><span style="font-family:arial,helvetica,sans-serif;">Russia</span></p></td><td style="width:113px;"><p><span style="font-family:arial,helvetica,sans-serif;">424</span></p></td></tr><tr><td style="width:57px;"><p align="center"><span style="font-family:arial,helvetica,sans-serif;">10</span></p></td><td style="width:142px;"><p><span style="font-family:arial,helvetica,sans-serif;">Canada</span></p></td><td style="width:113px;"><p><span style="font-family:arial,helvetica,sans-serif;">424</span></p></td></tr></tbody></table><p><span style="font-family:arial,helvetica,sans-serif;"><em>Source</em>: IMF and CIA </span><span style="font-family:arial,helvetica,sans-serif;">Wo</span>rld Factbook</p></div></div></div></div><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);"><div><p><span style="font-family:arial,helvetica,sans-serif;">The tertiary sector (AO2)</span></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/services.jpg" style="width: 300px; height: 153px;"></span></p><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>tertiary sector</strong> refers to business activity that involves providing services to customers, i.e. consumers and business clients. Tertiary sector output is the predominant sector in economically developed countries (or high-income economies). The tertiary sector of the economy accounts for the majority of gross domestic product (GDP) and employment in these countries.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Examples of tertiary sector businesses include:</span></p><div class="row-fluid"><div class="span6"><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;">Advertising</span></li><li><span style="font-family:arial,helvetica,sans-serif;">Banking</span></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Catering</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Communications (telecommunications and Internet)</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Distribution</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Education</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Health care</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Insurance</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Legal services</span></p></li></ul></div><div class="span6"><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Leisure and entertainment</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Medicine</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">News broadcasting</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Real estate (commercial and residential property)</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Retail</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Transportation</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Travel, hotels and tourism</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Security services</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Warehousing</span></p></li></ul></div></div><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>added value</strong> of tertiary sector output is very high. For example, households are generally willing to pay the high prices charged by a plumber to fix a leaking water pipe. This is because the plumber provides high added value services to the consumer by fixing the leak, something that the consumer has no expertise or time to complete.</span></p><hr class="hidden"><p>Watch this 4-minute video clip that demonstrates the potato growing process, from planting to harvesting (in the primary sector), processing 24/7 at the potato factory (in the secondary sector), and how the potatoes end up on the supermarket shelf (in the tertiary sector).</p><p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/7J6Ydd_3abY" title="YouTube video player" width="640"></iframe></p></div></div></div><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);"><div><p><span style="font-family:arial,helvetica,sans-serif;">The quaternary sector (AO2)</span></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/quartinary.jpg" style="width: 300px; height: 121px;"></span></p><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>quaternary sector</strong> refers to business activity involving the creation or sharing of knowledge and information. It involves using computer and digital information technologies.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Examples of production activities in the quaternary sector include:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Tertiary and higher education</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Information and communications technology (ICT)</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Management consultancy</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Online educational providers, such as <a href="../../index.htm">InThinking</a>, <a href="https://pamojaeducation.com/">Pamoja Education</a> and <a href="http://www.level7education.com/">Level7Education</a>, that rely on digital communications technologies</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../33222/56-research-development-hl.html" title="Unit 5 » 5.6 Research & development (HL)">Research and development</a> (R&D)</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Software and ‘app’ developers</span></p></li></ul><p><span style="font-family:arial,helvetica,sans-serif;">The added value is extremely high in the quaternary sector. For example, each year, many students (or their parents) are willing to pay very high tuition fees charged by universities.</span></p><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(61, 30, 128);"> </span> ATL Activity 1 (Thinking skills) - The high costs of Higher Education</span></span></h5><p><img alt="" height="191" src="../../../ib/businessmanagement/images/university2.jpg" width="334"></p><p><span style="font-family:arial,helvetica,sans-serif;">University education is part of the quaternary sector. Irrespective of which industry people end up working in, it is becoming increasingly common that they attend university for higher education. According to <em>Topuniversities.co</em>m, the cost of tuition fees for a typical university education in the UK was £9,250 ($11,380) in 2016-2017. International undergraduate students were charged a premium, of up to £35,000 ($43,100) for the year. However, tuition fees are only just one element of the (high) costs of a university education.</span></p><p><em><span style="font-family:arial,helvetica,sans-serif;">What other costs are involved in attending university?</span></em></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Possible answers could include:</span></span></p><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Accommodation (halls of residence or renting a room/apartment)</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Food and drink</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Laptop / computer</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Travel (public transports, bike or even a car)</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Textbooks / e-text subscriptions</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Stationery</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Clothing</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Laundry</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Entertainment</span></span></li><li><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Private tuition</span></span></li></ul></section></div><p><span style="font-family:arial,helvetica,sans-serif;">The quaternary sector is a relatively new categorization, due to the significant shift in advanced technologies, such as wireless and mobile telecommunications technologies. It also requires a highly educated population, yet the vast majority of the world’s population do not progress to further or higher education.</span></p><div class="greenBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-lightbulb-o fa-lg" style="color: rgb(61, 30, 128);"> </span> Top tip!</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Students should note that for some commentators and countries, the quaternary sector is often included with, or is considered part of, the tertiary sector. This is because they are both service sectors.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Together, the tertiary and quaternary sectors in high-income countries account for the largest part of the economy.</span></p></div></div></div></div><hr class="hidden"><p>Watch this short video clip to recap/review this topic of the IB Business Management syllabus. You can read the transcript of the video by clicking on the eye icon below the video.</p><p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/jvbFgOepKUQ" title="YouTube video player" width="640"></iframe></p><section class="tib-hiddenbox"><p><strong>Video transcript</strong></p><p><span class="style-scope yt-formatted-string" dir="auto">Business Sectors for IB Business Management and IGCSE Business Students.</span></p><p><span class="style-scope yt-formatted-string" dir="auto">Business activities take place in a number of different areas. Though there are different ways of classifying them, the one best method is, classification according to the stage of production they are engaged in. Hence business activities are divided into four sectors: the primary, secondary, tertiary, and quaternary sectors. The primary sector acts as a foundation for all other businesses. It creates the raw materials that go on to support every other sector. A few examples that fall within the primary sector include, Agriculture, Farming, Fishing, Forestry, and Mining. Once the primary sector produces the raw materials, the secondary sector transforms them into various products.</span></p><p><span class="style-scope yt-formatted-string" dir="auto">The secondary sector includes the manufacturing industry, construction firms and energy production companies. Economically developing countries tend to have that output comes from the secondary sector.</span></p><p><span class="style-scope yt-formatted-string" dir="auto">Businesses in the tertiary sector provide services to general population and other business organisations. Each of these sectors relies on the products produced in the secondary and primary sectors. A few examples that fall within the tertiary sector include, Hotels, Retail industry, Restaurants, Sales, Banking, and Insurance.</span></p><p><span class="style-scope yt-formatted-string" dir="auto">The quaternary sector is a sub sector tertiary sector. This sector is a knowledge-based part of the economy, which typically includes knowledge-oriented economic sectors such as information technology; media; research and development; information-based services such as information-generation and information-sharing; and knowledge-based services such as consultation, education, financial planning, blogging, and designing.</span></p><p><span class="style-scope yt-formatted-string" dir="auto">These sectors are typically linked in what is referred to as the chain of production. To, summarise, there are four sectors: namely, primary, secondary, tertiary and quaternary sectors.</span></p><p><span class="style-scope yt-formatted-string" dir="auto">Now, it’s time to think! Be a THINKER!! Think of some everyday products that use and identify their production chain. You may consider: Bread, Smart Phone, and your Classroom Furniture. What primary, secondary, tertiary and quaternary businesses are involved in the production, distribution and marketing of these products?</span></p></section><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">Return to the <a href="../21759/11-introduction-to-business-management.html" title="Unit 1 » 1.1 Introduction to business management">Unit 1.1 Introduction to business management</a> homepage</span></p><p>Return to the <a href="../21706/unit-1.html" title="Unit 1">Unit 1 - Business organization and environment </a>homepage</p><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../../index.htm"><img alt="" src="../../../ib/businessmanagement/logo-blue-black-1.png" style="width: 170px; height: 54px;"></a></span></p><script>document.querySelectorAll('.tib-teacher-only').forEach(e => e.remove());</script>
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