File "profitability-ratios-1.html"
Path: /ThinkIB/bm_econ/businessmanagement/page/44595/profitability-ratios-1html
File size: 235.38 KB
MIME-type: text/html
Charset: utf-8
<!DOCTYPE html>
<html lang="en">
<head>
<!-- Google Tag Manager -->
<script>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':
new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],
j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src=
'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);
})(window,document,'script','dataLayer','GTM-K5VSFSN');
</script>
<!-- End Google Tag Manager -->
<meta http-equiv="x-ua-compatible" content="IE=Edge"/>
<title>DP Business Management: Profitability ratios</title>
<meta charset="utf-8" />
<meta name="viewport" content="width=device-width, initial-scale=1.0" />
<meta name="robots" content="none" /><meta name="robots" content="noindex, nofollow" />
<base href="https://www.student.thinkib.net" /><meta name="keywords" content="Business Management, ThinkIB.net, InThinking, IB, IBDP, IBMYP" /><meta name="description" content="Profitability ratios. ThinkIB.net Business Management is an InThinking website." />
<link href="css/bootstrap.min.css" rel="stylesheet" media="screen" />
<link href="css/font-awesome-4.7.0/css/font-awesome.min.css" rel="stylesheet">
<link href="/css/top-nav.min.css?v=202305221900" rel="stylesheet" media="screen" />
<link href="/css/style.min.css?v=202308071530" rel="stylesheet" media="screen" />
<link href="/css/style-ib.min.css?v=202305221900" rel="stylesheet" media="screen" />
<link rel="stylesheet" type="text/css" href="/js/jq-fancybox/jquery.fancybox.min.css">
<link href="js/jq-fancybox/jquery.fancybox.min.css" type="text/css" rel="stylesheet">
<link rel="stylesheet" href="/css/side-nav.min.css?v=202305221900" /><link rel="stylesheet" href="/assets/css/ckeditor5-custom.css" type="text/css"><link rel="stylesheet" href="/css/std-access.min.css?v=202305221900" /><link rel="stylesheet" href="/css/snippets.min.css?v=202305221900" /><link rel="stylesheet" href="/css/article.min.css?v=2023061230" /><script src="/js/localdates.min.js?v=202009290900"></script><script src="/js/ifvisible.min.js"></script><script>ifvisible.setIdleDuration(300);</script><script>var tibSitename = "businessmanagement";</script>
<script>
const SITE_TAG = "ib"
const SITE_WEB = "ThinkIB.net"
const SITE_DOMAIN = "www.thinkib.net"
const SITE_URI = "https://thinkib.net"
const SITE_CLIENT_CODE = "TIB000001"
let imageThinker = "https://assets.inthinking.net/thinkib/header-thinker-ib.svg";
let imageStudent = "https://assets.inthinking.net/thinkib/header-student-thinkib.svg";
</script>
<script>var userHash = "1164ffdb5b0fa1709243f22ebefcb0a3", userTicket = "fd6a5e8a06cfccf2";</script><script src="/js/user/local-stats.min.js?v=202102101800"></script><link rel="apple-touch-icon-precomposed" sizes="57x57" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-57x57.png" /><link rel="apple-touch-icon-precomposed" sizes="114x114" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-114x114.png" /><link rel="apple-touch-icon-precomposed" sizes="72x72" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-72x72.png" /><link rel="apple-touch-icon-precomposed" sizes="144x144" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-144x144.png" /><link rel="apple-touch-icon-precomposed" sizes="60x60" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-60x60.png" /><link rel="apple-touch-icon-precomposed" sizes="120x120" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-120x120.png" /><link rel="apple-touch-icon-precomposed" sizes="76x76" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-76x76.png" /><link rel="apple-touch-icon-precomposed" sizes="152x152" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-152x152.png" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-196x196.png" sizes="196x196" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-96x96.png" sizes="96x96" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-32x32.png" sizes="32x32" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-16x16.png" sizes="16x16" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-128.png" sizes="128x128" /><meta name="application-name" content=" "/><meta name="msapplication-TileColor" content="#FFFFFF" /><meta name="msapplication-TileImage" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-144x144.png" /><meta name="msapplication-square70x70logo" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-70x70.png" /><meta name="msapplication-square150x150logo" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-150x150.png" /><meta name="msapplication-wide310x150logo" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-310x150.png" /><meta name="msapplication-square310x310logo" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-310x310.png" />
</head>
<body onunload="" class="student-access">
<!-- Google Tag Manager (noscript) -->
<noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-K5VSFSN"
height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript>
<!-- End Google Tag Manager (noscript) -->
<div id="header">
<div class="wmap">
<div class="layout-wrapper">
<div class="container-fluid">
<div class="pull-right visible-phone">
<a href="https://www.inthinking.net">
<img src="https://assets.inthinking.net/thinkib/header-logo.svg" style="height: 45px; width: auto">
</a>
</div>
<div class="visible-phone" style="clear:both;"></div>
<div class="pull-left">
<h1><a href="/businessmanagement?lg=51189"><span style="font-size: .8em;font-family: 'Helvetica Narrow','Arial Narrow',Tahoma,Arial,Helvetica,sans-serif;font-stretch: condensed;letter-spacing: -1px">IBDP Business Management - Student pages</span></a></h1>
<p class="slogan hidden-phone"><span class="slogan"><em>InThinking</em> Subject Sites for teachers & their classes</span></p>
<p class="hidden-phone"><em>Group: 1<br>Teacher: </em></p>
</div>
<div class="pull-right text-right">
<a class="hidden-phone" href="https://www.inthinking.net">
<img src="https://assets.inthinking.net/thinkib/header-logo.svg" style="height: 70px; width: auto">
</a>
<div class="search"><a href="#" class="toggle-menu-search" data-toggle="dropdown" title="Search"><i class="fa fa-2x fa-search"></i></a></div>
</div>
</div>
</div>
</div>
</div>
<div id="topmenu">
<div class="layout-wrapper">
<div>
<nav class="top-nav"><ul class="level-0"><li><a href="https://www.student.thinkib.net/businessmanagement?lg=51189"><i class="fa fa-home"></i> Home</a></li><li ><a href="https://www.student.thinkib.net/businessmanagement/page/38862/getting-started">Getting started</a></li><li ><a href="https://www.student.thinkib.net/businessmanagement/page/45691/old-course-n23">Old course (N23)</a></li><li ><a href="https://www.student.thinkib.net/businessmanagement/page/43522/unit-1-intro-to-bm">Unit 1 - Intro to BM</a></li><li ><a href="https://www.student.thinkib.net/businessmanagement/page/43530/unit-2-hrm">Unit 2 - HRM</a></li><li class="selected"><a href="https://www.student.thinkib.net/businessmanagement/page/43545/unit-3-finance">Unit 3 - Finance</a></li><li ><a href="https://www.student.thinkib.net/businessmanagement/page/43547/unit-4-marketing">Unit 4 - Marketing</a></li><li ><a href="https://www.student.thinkib.net/businessmanagement/page/43565/unit-5-operations-mgt">Unit 5 - Operations Mgt</a></li><li ><a href="https://www.student.thinkib.net/businessmanagement/page/42640/bmt-">BMT </a></li><li ><a href="https://www.student.thinkib.net/businessmanagement/page/42758/concepts">Concepts</a></li><li ><a href="https://www.student.thinkib.net/businessmanagement/page/42836/ia-">IA </a></li><li ><a href="https://www.student.thinkib.net/businessmanagement/page/43603/exams">Exams</a></li><li ><a href="https://www.student.thinkib.net/businessmanagement/page/33955/the-core">The Core</a></li><li ><a href="https://www.student.thinkib.net/businessmanagement/page/22100/misc">Misc</a></li></ul></nav>
</div>
</div>
</div>
<nav id="nav-menu-search" class="shadow-md" style="display: none;">
<div class="layout-wrapper">
<form class="form-inline" role="search" method="get" action="businessmanagement/search">
<input id="nav-search" name="s" type="search" placeholder="Search Business Management..." value="">
<button class="btn btn-sm btn-primary" type="submit">
Search
</button>
<a href="#" class="toggle-menu-search" title="Close">
<i class="fa fa-lg fa-times gray"></i>
</a>
</form>
</div>
</nav>
<div class="layout-wrapper">
<div id="container" class="container-fluid">
<div id="content">
<div class="row-fluid">
<div id="left-column" class="span3"> <div id="userbox">
<div class="dropdown" style="display: flex; align-items: center;">
<a href="#" data-toggle="dropdown" class="dropdown-toggle btn">
<img style="width: 16px; height: 16px; margin: -2px 0 0 0;" src="https://assets.inthinking.net/thinkib/user/generic/32-generic-user.png">
IB Docs (2) Team <i class="fa fa-caret-down"></i>
</a>
<ul class="dropdown-menu" id="menu1">
<li class="dropdown-submenu"><a href="#" data-toggle="dropdown" class="dropdown-toggle"><i class="fa fa-caret-right fixwidth gray"></i> IBDP Business Management</a><ul class="dropdown-menu" style="padding: 0; border-radius: 3px; margin-left: -4px; margin-top: -1px;"><li><a href="https://www.student.thinkib.net/businessmanagement?lg=51189"><i class="fa fa-group gray fixwidth"></i> 1</a></li><li><a href="https://www.student.thinkib.net/businessmanagement?lg=51192"><i class="fa fa-group gray fixwidth"></i> 2</a></li></ul></li><li><a href="https://www.student.thinkib.net/economics?lg=50735"><i class="fa fa-caret-right fixwidth gray"></i> IBDP Economics</a></li><li class="divider"></li><li><a href="https://www.student.thinkib.net"><i class="fa fa-dashboard fixwidth colored"></i> Dashboard</a></li><li><a href="https://www.student.thinkib.net/?pan=tasks"><i class="fa fa-pencil fixwidth colored"></i> All tasks</a></li><li><a href="https://www.student.thinkib.net/std/profile-editor"><i class="fa fa-user fixwidth colored"></i> My profile</a></li>
<li class="divider"></li>
<li>
<a href="https://www.student.thinkib.net?logout=1">
<i class="fa fa-power-off fixwidth"></i> Log out
</a>
</li>
</ul>
</div>
</div><div id="std-side-box" data-pid="1297" style="background: #f6f6f6; margin-bottom: 20px;"><div id="usernav" style="margin: 0; padding: 0px;"> <div class="row-fluid accordion-group" style="border: 0px; margin-bottom: 0px;"> <div class="" style="padding: 6px 4px 6px 8px; background: #E89C12;"> <a class="accordion-toggle std-header" style="color: #fff; text-shadow: 1px 1px 1px #444; padding: 0px; text-decoration: none; font-size: 16px; font-weight: 400; " data-toggle="collapse" data-parent="#usernav" href="#side-box-content-assignments"> <i class="fa fa-caret-right white" style="margin-left: 4px;"></i> Tasks </a> </div> <div id="side-box-content-assignments" class="accordion-body collapse"> <div class="accordion-inner" style="line-height: 1.7em;"></div></div></div></div></div><div style="margin: 20px 0;"><a href="https://www.student.thinkib.net/businessmanagement/sitemap" class="btn btn-default btn-block"><i class="fa fa-sitemap fixwidth colored"></i>Sitemap</a></div><div id="topicsnav" style="margin: 0; padding: 0px;"> <div class="row-fluid accordion-group" style="border: 0px; margin-bottom: 0px;"> <div style="padding: 6px 4px 6px 8px; background: #204a87;"> <a class="accordion-toggle std-header" style="color: #fff; text-shadow: 1px 1px 1px #444; padding: 0px; text-decoration: none; font-size: 16px; font-weight: 400;" data-toggle="collapse" data-parent="#topicsnav" href="#side-box-topics-list"> <i class="fa fa-caret-right fa-rotate-90 white" style="margin-left: 4px;"></i> Topics </a> <span id="sidetreecontrol"> <a title="Collapse all" rel="collapse" href="#"> <i class="fa fa-minus-circle"></i> </a> <a title="Expand all" rel="expand" href="#"> <i class="fa fa-plus-circle"></i> </a> </span> </div> <div id="side-box-topics-list" class="accordion-body in collapse"> <div class="accordion-inner" style="line-height: 1.7em; padding: 0;"> <nav class="side-nav" id="sidemenu"><ul class="level-0 always-expanded"><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/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="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/43545/unit-3-finance" title="Unit 3 - Finance">Unit 3 - Finance</a></li><ul class="level-1 expanded"><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="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/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 expanded"><li class="current" 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=" 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/33955/the-core" title="The Core">The Core</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/34902/cas-bm" title="CAS & BM">CAS & BM</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/21665/the-ee" 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="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=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></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 "><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">
.studyib-link {
display: inline-block;
overflow: hidden;
font-size: 1.2em;
font-weight: normal;
margin: 10px;
transition: transform .2s; /* Animation */
}
#left-column .studyib-link {
font-size: 1em;
font-weight: normal;
margin: 5px;
transition: transform .2s; /* Animation */
}
#left-column .studyib-advert h2 {
font-size: 1.35em;
}
.studyib-link:hover {
transform: scale(1.2);
}
.studyib-link > img {
width: 2em; height: 2em;
margin: 0;
float: left;
}
.embed-responsive {
position: relative;
display: block;
height: 0;
padding: 0;
margin: 15px 0;
}
.embed-responsive-16by9 {
padding-bottom: 56.25%;
}
.embed-responsive iframe {
position: absolute;
top: 0;
left: 0;
bottom: 0;
height: 100%;
width: 100%;
border: 0;
}
.studyib-advert {
padding: 20px;
background: #E7EDF5;
border: solid 1px #EFF;
/* margin-left: 70px; */
}
.studyib-advert .heading {
display: flex;
flex-direction: row;
align-items: center;
}
.studyib-advert .heading img {
margin-right: 15px;
}
.studyib-advert .heading span {
color: #444
}
.studyib-advert h2,
.studyib-advert h3 {
margin: 0;
}
.studyib-advert .body {
margin-top: 20px;
}
</style>
<div class="studyib-advert">
<div class="heading">
<img src="https://assets.inthinking.net/thinkib/header-thinker-sib.svg" height="50" width="50" class="pull-left" alt="InThinking Revision Sites">
<div>
<h2>INTHINKING REVISION SITES</h2>
<span><em>Own your learning</em></span>
</div>
</div>
<div class="body">
<p>Why not also try our independent learning self-study & revision websites for students?</p>
<p>We currenly offer the following DP Sites: Biology, Chemistry, English A Lang & Lit, Maths A&A, Maths A&I, Physics, Spanish B</p>
<p>
<em>"The site is great for revising the basic understandings of each topic quickly.
Especially since you are able to test yourself at the end of each page and easily see where yo need to improve."</em>
</p>
<p><em>"It is life saving... I am passing IB because of this site!"</em></p>
<p>Basic (limited access) subscriptions are FREE. Check them out at:</p>
<div class="text-center">
<h3>
<a href="//studyib.net">www.StudyIB.net</a>
</h3>
</div>
</div>
</div>
</div></div><!-- /#left-column-->
<div id="main-column" class="span9"> <article id="profitability-ratios" style="margin-top: 16px;">
<h1 class="section-title">Profitability ratios</h1>
<ul class="breadcrumb"><li><a title="Home" href="https://www.student.thinkib.net/businessmanagement"><i class="fa fa-home"></i></a><span class="divider">/</span></li><li><span class="gray">Unit 3 - Finance</span><span class="divider">/</span></li><li><span class="gray">3.5 Profitability & liquidity ratio analysis</span><span class="divider">/</span></li><li><span class="active">Profitability ratios</span></li></ul>
<div class="row-fluid">
<section class="span12" id="main-content">
<div><div><div><div class="panel panel-purple"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Profitability ratios (AO2, AO4) & Possible strategies to improve these ratios (AO3)</strong></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="211" src="/media/ib/businessmanagement/images/money-glut-432688_1920.jpg" width="300" /></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Ratio analysis</strong> is a quantitative management planning and decision-making tool, used to analyse and evaluate the financial performance of a business. <strong>Profitability </strong>is a measure of profit in relation to another variable. </span>This section of the IB Business Management syllabus examines the following profitability ratios (AO2, AO4), as well as possible strategies to improve these ratios (AO3):</span></p><ul class="branded"><li><p>Gross profit margin</p></li><li><p>Profit margin</p></li><li><p>Return on capital employed (ROCE).</p></li></ul><p><span style="font-family:arial,helvetica,sans-serif;">These can be further categorised as profitability, liquidity and efficiency ratio analysis.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">The ratios allow firms to make historical comparisons of financial performance during different time periods. Profitability ratios examine the level and value of a firm’s profits, thereby enabling different stakeholders to measure the financial returns on their investments. Profitability ratios also express a firm’s profits as a percentage of its sales revenue.</span></p></div></div><div class="panel-footer"><div></div></div></div><p><span style="font-family:arial,helvetica,sans-serif;"></span></p></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;">The gross profit margin (GPM)</span></strong></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;">The<strong> gross profit margin</strong> (GPM) is a profitability ratio that measures an <span data-scayt-word="organization’s" data-wsc-id="l4zqthf37carylfe2" data-wsc-lang="en_GB">organization’s</span> gross profit expressed as a percentage of its sales revenue. It is also an indicator of how well a business can manage its direct costs of production.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Recall that <strong>gross profit</strong> is the difference between a firm’s sales revenue and its cost of sales (COS). The formula for calculating the gross profit margin (GPM) is:</span></p><p><img alt="" src="/media/ib/businessmanagement/images/3-finance/gross-profit-margin.jpg" style="width: 330px; height: 72px;" /></p><p><span style="font-family:arial,helvetica,sans-serif;">For example, suppose a firm has sales revenue equal to $100 million, cost of sales (COS) of $55 million, and expenses (or overheads) equal to $25 million. Therefore, the firm’s gross profit = $100m – $55m = $45m. Hence, the firm’s GPM ratio = $45m ÷ $100m = <strong>45%</strong>.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">This means that for every $100 of sales revenue, the firm earns gross profit of $45. Hence, the higher the GPM ratio, the more profitable the firm has been from selling its products.</span></p><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-calculator fa-lg" style="color: rgb(61, 30, 128);"> </span> Worked example</span></span></h5><p>Suppose a firm earns $100,000 in sales revenue from selling products that incur direct costs of $30,000.</p><ul class="branded"><li><p>Gross profit is calculated by using the formula: Sales revenue <span style="font-size:12.0pt;font-family:"Arial",sans-serif;
mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-ansi-language:
EN-GB;mso-fareast-language:EN-US;mso-bidi-language:AR-SA">–</span> Cost of sales</p></li><li><p>The firm's <em>gross profit </em>would then be $70,000, i.e., $100,000 <span style="font-size:12.0pt;font-family:"Arial",sans-serif;
mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;mso-ansi-language:
EN-GB;mso-fareast-language:EN-US;mso-bidi-language:AR-SA">–</span> $30,000.</p></li><li><p>Therefore, the gross profit margin (GPM) = ($70,000 / $100,000) × 100 = 70%</p></li><li><p>This means that for every dollar of sales revenue, the firm earns 70 cents a gross profit.</p></li></ul></div><p><span style="font-family:arial,helvetica,sans-serif;">A firm can improve its GPM ratio by any combination of increasing sales revenue and reducing its direct costs. Such methods could include:</span></p><ul><li><p><span style="font-family:arial,helvetica,sans-serif;">Changing the firm’s promotional strategies to persuade more customers to buy the firm’s goods and/or services.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Launching new goods and/or services that have a higher gross profit margin, i.e. products that have a greater differential between their selling price and their associated direct costs.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Reducing the prices of products sold in highly competitive markets in order to attract more customers, thereby increasing the firm’s overall sales revenue. This will tend to work for products that are highly <em>price elastic</em> (see <a href="businessmanagement/page/42547/452-price" title="Unit 4 - Marketing » 4.5 The seven Ps of the marketing mix » 4.5.2 Price">Unit 4.5</a>) due to the wide availability of close substitutes.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Outsourcing production or other operations to third-party suppliers. This helps the firm to benefit from using external providers that can offer specialised services in a more cost-effective way, thereby reducing the firm’s cost of sales.</span></p></li></ul></div></div><div class="panel-footer"><div></div></div></div><div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;">The profit margin ratio</span></strong></p></div></div><div class="panel-body"><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>profit margin</strong> is a profitability ratio that measures a firm’s overall profit (after all costs of production have been deducted) as a percentage of its sales revenue. It is also an indicator of how well a business can manage its indirect costs (overhead expenses). The profit margin ratio denotes the percentage of sales revenue that is turned into profit. The formula for calculating the profit margin ratio is:</span></p><p><img alt="" src="/media/ib/businessmanagement/images/3-finance/profit-margin.jpg" style="width: 400px; height: 87px;" /></p><p><span style="font-family:arial,helvetica,sans-serif;">The higher the profit margin ratio figure, the better the <span data-scayt-word="organization’s" data-wsc-id="l4zqti8c33hxl4coy" data-wsc-lang="en_GB">organization’s</span> control over its expenses and hence the higher its profitability tends to be. It also indicates greater efficiency in managing the firm’s overheads.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Profit</strong> is the financial surplus after all costs, including expenses, have been paid. For example, suppose a firm has sales revenue equal to $100 million, the cost of sales (COS) equals $55 million, and expenses (or overheads) equal $25 million. Therefore, the firm’s profit = $100m – $55m – $25 = $20m.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Hence, the firm’s profit margin ratio = ($20m ÷ $100m) × 100 = 20%. This means that for every $100 of sales revenue, the firm earns profit before interest and tax of $20. So, the higher the profit margin ratio, the more profitable the firm has been.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">To improve the profit margin ratio, businesses need to find ways to reduce any type of excessive and unnecessary expenses. Examples of typical business expenses include the following:</span></p><ul><li><p><span style="font-family:arial,helvetica,sans-serif;">Insurance</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Lease payments for capital equipment and other fixed (non-current) assets</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Mortgage payments</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Phone and Internet services</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Rent on commercial buildings/land</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Salaries for management and administrative personnel</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Utility bills.</span><span style="font-family:arial,helvetica,sans-serif;"></span> <span style="font-family:arial,helvetica,sans-serif;"></span></p></li></ul><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(103, 7, 124);"> </span> Top tip!</span></span></h5><p>The <strong>profit margin ratio</strong> uses profit <u>before</u> interest and tax in its calculation (despite these two items being expenses) for a couple of reasons:</p><ul><li><p><em>Historical benchmarking</em> - Comparing a firm's profit margin ratio over time would be rather meaningless if the profit <em>after </em>interest charges and tax deductions are made as these expenses are beyond the control of the business. Interest rates are reviewed each month by the central bank and can change at any point, whilst tax rates are also prone to change over time.</p></li><li><p><em>Inter-firm benchmarking </em>- It is rather meaningless to compare the profit margin ratio of a business with that of rival firms in overseas markets, as tax and interest rates will differ. For a multinational company, it is therefore also more meaningful to compare the profit margin ratio of its various overseas divisions by using profit <em>before </em>interest charges and tax deductions in order to compare like with like.</p></li></ul></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;">The return on capital employed (ROCE)</span></strong></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>return on capital employed </strong>(<span data-scayt-word="ROCE" data-wsc-id="l4zqtj26thlf5szrb" data-wsc-lang="en_GB">ROCE</span>) ratio is a profitability ratio that measures a firm’s efficiency and profitability in relation to its size (as measured by the value of the <span data-scayt-word="organization’s" data-wsc-id="l4zqtj26x4c9kqrlo" data-wsc-lang="en_GB">organization’s</span> capital employed).</span><span style="font-family:arial,helvetica,sans-serif;"></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Capital employed</strong> is the value of all sources of finance available for a business at a point in time, including internal and external finance. The formula for calculating capital employed is therefore:</span></p><span style="font-family:arial,helvetica,sans-serif;">Capital employed = Non-current liabilities + Share capital + Retained earnings</span><p>or</p><p>Capital employed = Non‐current liabilities + Equity</p><p><span style="font-family:arial,helvetica,sans-serif;"></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;">The formula for calculating the <span data-scayt-word="ROCE" data-wsc-id="l4zqtj5se9ksmjj78" data-wsc-lang="en_GB">ROCE</span> ratio is:</span></p><p><img alt="" height="74" src="/media/ib/businessmanagement/images/3-finance/roce-ratio.jpg" width="485" /></p><p><span style="color:#696969;"><em>Note: </em>the ROCE ratio formula is given in the formula sheet that must be provided for candidates in the external exams.</span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;">A business can improve its <span data-scayt-word="ROCE" data-wsc-id="l4zqtjd9q0kzkh6yx" data-wsc-lang="en_GB">ROCE</span> ratio by using any combination of strategies that improve its profit before interest and tax, such as:</span></p><ul><li><p><span style="font-family:arial,helvetica,sans-serif;">Increasing the firm’s sales revenues by using strategies such as reduced prices to attract more customers, using new sales promotions, offering a wider and more efficient distribution network, and/or launching new and improved products.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Reduce costs of production through methods such as using alternative suppliers, having improved stock control systems (see Unit 5.5 HL only), seeking additional opportunities for economies of scale (see <a href="businessmanagement/page/44212/economies-diseconomies-of-scale" title="New syllabus 2022 » Unit 1 - Introduction to Business Management » 1.5 Growth and evolution » Economies & diseconomies of scale">Unit 1.5</a>), and improved quality management systems to reduce the cost of wastage (see Unit 5.3 HL only).</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Selling unproductive, unused, underused, and obsolete assets in order to improve operational efficiency and liquidity. Being more efficient also helps the firm to reduce its cash outflows (see <a href="businessmanagement/page/44558/cash-flow-forecasts" title="New syllabus 2022 » Unit 3 - Finance and Accounts » 3.7 Cash flow » Cash flow forecasts">Unit 3.7</a>).</span></p></li></ul></div></div><div class="panel-footer"><div></div></div></div><p><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> Watch this 7-minute introductory video about ratio analysis and its purposes. Be aware that this video was not produced specifically for the IB so make sure you stick to the ratios in the IB guide.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><iframe allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/GoKIZqSFMIE" width="640"></iframe></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Ultimately, the use of profitability and efficiency ratio analysis enables managers and decision makers to analyse and judge the financial performance of a business.</span></p><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Key terms</strong></p></div></div><div class="panel-body"><div><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Capital employed</strong> is the value of all sources of finance of a business at a point in time, including internal and external finance. It is calculated using the formula: Non-current liabilities + Equity.</span></p></li><li><p><strong>Equity </strong>is the sum of money that belongs to the owners of the business, i.e., share capital plus retained earnings.</p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Gross profit</strong> is the difference between a firm’s sales revenue and its cost of sales (COS). </span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>gross profit margin </strong>(GPM) is a profitability ratio that measures the amount of trading profit as a percentage of the sales revenue, i.e. GPM = (Gross Profit / Sales Revenue) × 100. The higher the figure, the lower the cost of sales (COS) in relation to the sales revenue.</span></p></li><li><p><strong>Non-current liabilities</strong> refer to the long-term debts of an organization raised through loan capital, such as mortgages and other forms of long-term borrowing to finance business activity.</p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>profit margin</strong> (or <strong>profit margin ratio</strong>) is a profitability ratio that measures the amount of profit (gross profit minus expenses) as a percentage of the sales revenue, i.e. profit margin ratio = [(Gross profit – Expenses) / Sales Revenue)] × 100. The higher the profit margin ratio figure, the better the <span data-scayt-word="organization’s" data-wsc-id="l4zqti88u1bonxfwt" data-wsc-lang="en_GB">organization’s</span> control over its overheads and hence the higher its profitability tends to be.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>return on capital employed</strong> (ROCE) is a profitability ratio that measures a firm’s efficiency and profitability in relation to its size (as measured by the value of the organization’s capital employed). It is calculated using the formulas: ROCE = (Profit before interest and tax / Capital employed) × 100.</span></p></li></ul></div></div><div class="panel-footer"><div></div></div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Exam Practice Questions</strong></p></div></div><div class="panel-body"><div><p>To test your understanding of this topic, have a go at the following exam practice questions.</p><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-pencil-square-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Exam Practice Question 1 - <span data-scayt-word="LaLa's" data-wsc-id="l4zqtjgtwppeuo5wi" data-wsc-lang="en_GB">LaLa's</span> Kitchen Co.</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><em><span data-scayt-word="LaLa’s" data-wsc-id="l4zqtjkfssswd4r1z" data-wsc-lang="en_GB">LaLa’s</span> Kitchen Co.</em> declares an annual gross profit of $3.5 million, sales revenue of $5.5 million, and expenses of $1.5 million.</span></p><table border="0" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:38px;"><p>(a) </p></td><td style="width:529px;"><p>Calculate <em>LaLa’s Kitchen Co.'s </em>gross profit margin (GPM).</p></td><td style="width:75px;"><p><em>[2 marks]</em></p></td></tr><tr><td style="width:38px;"><p>(b) </p></td><td style="width:529px;"><p>Calculate <em>LaLa’s Kitchen Co.'s </em>profit margin <span style="font-family:arial,helvetica,sans-serif;">ratio</span>.</p></td><td style="width:75px;"><p><em>[2 marks]</em></p></td></tr></tbody></table><section><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="https://assets.inthinking.net/thinkib/icons/teacher-only.svg" /> Teacher only box</div><div class="content" readonly="false"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Answer</strong></span></p><p><strong><span style="font-family:arial,helvetica,sans-serif;">(a) Calculate <em><span data-scayt-word="LaLa’s" data-wsc-id="l4zqtjzdndjyj2164" data-wsc-lang="en_GB">LaLa’s</span> Kitchen Co.'s </em>gross profit margin (GPM). <em>[2 marks]</em></span></strong></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">GPM = ($3.5m ÷ $5.5m) × 100 = <strong>63.63%</strong></span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[1 mark]</em> for the correct answer and<em> [1 mark]</em> for showing appropriate working out.</span></span></p><hr class="hidden" /><p><strong><span style="font-family:arial,helvetica,sans-serif;">(b) Calculate <em><span data-scayt-word="LaLa’s" data-wsc-id="l4zqtk9y09gssle1y" data-wsc-lang="en_GB">LaLa’s</span> Kitchen Co.'s </em>profit margin </span><span style="font-family:arial,helvetica,sans-serif;">ratio</span><span style="font-family:arial,helvetica,sans-serif;">. <em>[2 marks]</em></span></strong></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Profit margin ratio = ($3.5m – $1.5m) ÷ $5.5m × 100 = <strong>36.36%</strong></span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[1 mark]</em> for the correct answer and<em> [1 mark]</em> for showing appropriate working out.</span></span></p></div></section></section></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-pencil-square-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Exam Practice Question 2 - Jasmine Sportswear Co.</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><em>Jasmine Sportswear Co. (JSC)</em> is a large sportswear manufacturing company. In the first three months of 2020, <em>JSC </em>reported quarterly profits rising by 6% to $212 million and the gross profit margin ratio of 53.1%.</span></p><table border="0" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:38px;"><p>(a) </p></td><td style="width:529px;"><p>Define the term <em>profit</em>.</p></td><td style="width:75px;"><p><em>[2 marks]</em></p></td></tr><tr><td style="width:38px;"><p>(b) </p></td><td style="width:529px;"><p>Calculate the value of <em>JSC's</em> profit during the previous three months.</p></td><td style="width:75px;"><p><em>[2 marks]</em></p></td></tr><tr><td style="width:38px;"><p>(c) </p></td><td style="width:529px;"><p>Comment on whether <em>JSC's</em> shareholders would be satisfied with the company's GPM.</p></td><td style="width:75px;"><p><em>[4 marks]</em></p></td></tr></tbody></table> <section><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="https://assets.inthinking.net/thinkib/icons/teacher-only.svg" /> Teacher only box</div><div class="content" readonly="false"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Answers</strong></span></p><p><strong><span style="font-family:arial,helvetica,sans-serif;">(a) Define the term <em>profit</em>. <em>[2 marks]</em></span></strong></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Profit refers to the financial surplus of a business after it has paid for both cost of sales (COS) and expenses (or overhead costs). It is the difference between a firm's gross profit and its indirect costs, i.e. Profit = Sales revenue – (COS + Expenses).</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[1 mark] </em> for a limited response that shows some understanding of profit.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[2 marks] </em> for an accurate definition that shows good understanding of profit, similar to the example above.</span></span></p><hr /><p><strong><span style="font-family:arial,helvetica,sans-serif;">(b) Calculate the value of <em><span data-scayt-word="JSC's" data-wsc-id="l4zqtkjpmmco8u578" data-wsc-lang="en_GB">JSC's</span></em> profit during the previous three months. <em>[2 marks]</em></span></strong></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Profit in previous time period = $212m / 1.06* = <strong>$200 million</strong></span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">*Note: "profits rising by 6% to $212 million" means dividing by 1.06 deflates the value by 6% for the previous 3 months.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award<em> [1 mark]</em> for the correct answer, and <em>[1 mark]</em> for appropriate working out.</span></span></p><hr /><p><strong><span style="font-family:arial,helvetica,sans-serif;">(c) Comment on whether <em><span data-scayt-word="JSC's" data-wsc-id="l4zqtkneec1r2lky9" data-wsc-lang="en_GB">JSC's</span></em> shareholders would be satisfied with the company's gross profit margin (GPM). <em>[4 marks]</em></span></strong></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><em><span data-scayt-word="JSC's" data-wsc-id="l4zqtllbi55h2frbs" data-wsc-lang="en_GB">JSC's</span></em> gross profit margin ratio of 53.1 per cent means that for every $100,000 of sales revenue, the company earns $53,100 in gross profit (the difference between the company's sales revenue and its cost of sales (COS). This also means that <em><span data-scayt-word="JSC's" data-wsc-id="l4zqtlla5gjsyfyih" data-wsc-lang="en_GB">JSC's</span> </em>COS are worth $46,900 for each $100,000 of sales.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">It can be difficult to determine whether a GPM of 53.1% is satisfactory to shareholders as it depends on whether the GPM was higher or lower when sales revenue was 6% lower at $200,000. Also, whether this GPM figure is acceptable to <em><span data-scayt-word="JSC's" data-wsc-id="l4zqtma5qr2e1qpci" data-wsc-lang="en_GB">JSC's</span> </em>shareholders also depends on benchmarking data, such as the GPM of <em><span data-scayt-word="JSC's" data-wsc-id="l4zqtma42vbqri8l8" data-wsc-lang="en_GB">JSC's</span></em> main rivals in the industry. Shareholders also have to determine whether the value of <em><span data-scayt-word="JSC's" data-wsc-id="l4zqtmdtj6h1rc7sk" data-wsc-lang="en_GB">JSC's</span> COS </em>(at 46.9% of the firm's sales revenue) is acceptable or whether this value should be (much) lower.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award<em> [1 - 2 marks]</em> for a response that shows some understanding of the demands of the question. There is some appropriate use of business management terminology, although the response lacks depth or application.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award<em> [3 - 4 marks]</em> for a response that shows good understanding of the demands of the question. There is effective use of relevant business management terminology throughout the answer, and appropriate application of the case study.</span></span></p></div></section></section></div><section><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-pencil-square-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Exam Practice Question 3 - <span data-scayt-word="Camiko" data-wsc-id="l4zqtmh7bkmv68pu7" data-wsc-lang="en_GB">Camiko</span> Face Masks Ltd.</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="/media/ib/businessmanagement/images/face-masks.jpg" style="width:280px;height:153px;" /></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Study the profit and loss account for <em><span data-scayt-word="Camiko" data-wsc-id="l4zqtmkn5ye2k9054" data-wsc-lang="en_GB">Camiko</span> Face Masks Ltd.</em>, a business based in Wellington, New Zealand, that produces face masks and related products. Then answer the questions that follow. All financial figures are in New Zealand dollars (NZD).</span></p><table border="0" cellpadding="0" cellspacing="0" width="512"><colgroup></colgroup><tbody><tr height="20"><td height="20" style="height:20px;width:251px;"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Item</strong></span></p></td><td style="width:140px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;"><strong>2022</strong></span></p></td><td style="width:123px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;"><strong>2021</strong></span></p></td></tr><tr height="20"><td height="20" style="height:20px;width:251px;"><p><span style="font-family:arial,helvetica,sans-serif;">Sales revenue</span></p></td><td style="width:140px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">250,000</span></p></td><td style="width:123px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">260,000</span></p></td></tr><tr height="38"><td height="38" style="height:38px;width:251px;"><p><span style="font-family:arial,helvetica,sans-serif;">Cost of sales (COS)</span></p></td><td style="width:140px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">162,500</span></p></td><td style="width:123px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">169,000</span></p></td></tr><tr height="20"><td height="20" style="height:20px;width:251px;"><p><span style="font-family:arial,helvetica,sans-serif;">Gross profit</span></p></td><td style="width:140px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">87,500</span></p></td><td style="width:123px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">91,000</span></p></td></tr><tr height="20"><td height="20" style="height:20px;width:251px;"><p><span style="font-family:arial,helvetica,sans-serif;">Expenses</span></p></td><td style="width:140px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">26,000</span></p></td><td style="width:123px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">26,000</span></p></td></tr><tr height="20"><td height="20" style="height:20px;width:251px;"><p><span style="font-family:arial,helvetica,sans-serif;">Rent</span></p></td><td style="width:140px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">45,000</span></p></td><td style="width:123px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">45,000</span></p></td></tr><tr height="20"><td height="20" style="height:20px;width:251px;"><p><span style="font-family:arial,helvetica,sans-serif;">Profit before interest and tax</span></p></td><td style="width:140px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">16,500</span></p></td><td style="width:123px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">20,000</span></p></td></tr><tr height="20"><td height="20" style="height:20px;width:251px;"><p><span style="font-family:arial,helvetica,sans-serif;">Interest</span></p></td><td style="width:140px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">6,000</span></p></td><td style="width:123px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">6,600</span></p></td></tr><tr height="20"><td height="20" style="height:20px;width:251px;"><p><span style="font-family:arial,helvetica,sans-serif;">Tax</span></p></td><td style="width:140px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">2,100</span></p></td><td style="width:123px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">2,680</span></p></td></tr><tr height="20"><td height="20" style="height:20px;width:251px;"><p><span style="font-family:arial,helvetica,sans-serif;">Profit after interest and tax</span></p></td><td style="width:140px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">8,400</span></p></td><td style="width:123px;"><p style="text-align: center;"><span style="font-family:arial,helvetica,sans-serif;">10,720</span></p></td></tr></tbody></table><table border="0" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:38px;"><p>(a) </p></td><td style="width:529px;"><p>Define the term <em>gross profit margin </em>(GPM).</p></td><td style="width:75px;"><p><em>[2 marks]</em></p></td></tr><tr><td style="width:38px;"><p>(b) </p></td><td style="width:529px;"><p>Define the term <em>profit margin</em>.</p></td><td style="width:75px;"><p><em>[2 marks]</em></p></td></tr><tr><td style="width:38px;"><p>(c) </p></td><td style="width:529px;"><p>Calculate the GPM for <em>Camiko Face Masks Ltd. </em>for both 2022 and 2021 and comment on your findings.</p></td><td style="width:75px;"><p><em>[4 marks]</em></p></td></tr><tr><td style="width:38px;"><p>(d)</p></td><td style="width:529px;"><p>Calculate the profit margin ratio for <em>Camiko Face Masks Ltd. </em>for both 2021 and 2021 and comment on your findings.</p></td><td style="width:75px;"><p><em>[4 marks]</em></p></td></tr><tr><td style="width:38px;"><p>(e)</p></td><td style="width:529px;"><p>Explain why the profit and loss account records profit <em>before </em>interest and tax.</p></td><td style="width:75px;"><p><em>[2 marks]</em></p></td></tr><tr><td style="width:38px;"><p>(f)</p></td><td style="width:529px;"><p>Explain <strong>two </strong>possible reasons why <em>Camiko Face Masks Ltd.'s</em> GPM and profit margin were lower than previously.</p></td><td style="width:75px;"><p><em>[4 marks]</em></p></td></tr></tbody></table><section><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="https://assets.inthinking.net/thinkib/icons/teacher-only.svg" /> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Answers</strong></span></span></p><p><span style="color:#000000;"><strong><span style="font-family:arial,helvetica,sans-serif;">(a) Define the term <em>gross profit margin </em>(GPM). <em>[2 marks]</em></span></strong></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">The gross profit margin (GPM) measures the amount of trading profit as a percentage of the firm's sales revenue, i.e. GPM = (Gross profit / Sales revenue) × 100. The higher the GPM figure, the lower the cost of sales (COS) are in relation to the firm's sales revenue, so the higher its profitability.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[1 mark] </em> for an answer that shows some understanding of gross profit margin.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[2 marks] </em> for an answer that shows good understanding of gross profit margin, similar to the response above.</span></span></p><hr /><p><strong><span style="color:#000000;"><span style="font-family:arial,helvetica,sans-serif;">(b) Define the term <em>profit margin</em>. <em>[2 marks]</em></span></span></strong></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">The profit margin measures the amount of profit (gross profit minus expenses) as a percentage of a firm's sales revenue, i.e. profit margin = [(Gross Profit – Expenses) / Sales Revenue] × 100. In this particular instance, rent has been categorized as a separate expense in <em>Camiko Face Mask Ltd.'s </em>P&L account. The higher the profit margin ratio figure, the better the <span data-scayt-word="organization’s" data-wsc-id="l4zqti89qsmsphyh1" data-wsc-lang="en_GB">organization’s</span> control over its overheads and hence the higher its profitability tends to be.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[1 mark] </em> for an answer that shows some understanding of profit margin ratio.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[2 marks] </em> for an answer that shows good understanding of <span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"> profit margin ratio</span></span>, similar to the example above.</span></span></p><hr /><p><span style="color:#000000;"><strong><span style="font-family:arial,helvetica,sans-serif;">(c) Calculate the GPM for <em>Camiko Face Masks Ltd. </em>for both 20202 and 2021 and comment on your findings. <em>[4 marks]</em></span></strong></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">GPM 2022 = ($87,500 / $250,000) × 100 = <strong>35%</strong></span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">GPM 2021 = ($91,000 / $260,000) × 100 = <strong>35%</strong></span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">This means that for every $100 of sales made by <em>Camiko Face Mask Ltd.</em>, $35 is earned as gross profit in both years. This is because the other 65% is attributed to the firm's cost of goods sold. Despite a slight fall in sales revenue, the firm has maintained its COS as a proportion of its sales revenue.</span></span></p><p><em><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Mark as a 2 + 2</span></span></em></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[1 mark] </em>for the correct calculation of the GPM and <em>[1 mark] </em> for showing appropriate working out.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award up to <em>[2 marks]</em> if the commentary shows good understanding of the GPM ratio, similar to the example above.</span></span></p><hr /><p><strong><span style="color:#000000;"><span style="font-family:arial,helvetica,sans-serif;">(d) Calculate the profit margin for <em>Camiko Face Masks Ltd. </em>for both 2022 and 2021 and comment on your findings. <em>[4 marks]</em></span></span></strong></p><ul class="branded"><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Profit margin 2022 = ($16,500 / $250,000) x 100 = <strong>6.6%</strong></span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Profit margin </span></span>2021 = ($20,000 / $260,000) x 100 = <strong>7.69%</strong></span></span></p></li></ul><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">This means that for every $100 of sales made by <em>Camiko Face Mask Ltd.</em>, only $6.6 was earned as profit in 2022 and slightly higher at $7.69 in 2021 before any deductions were made for interest and tax. This also means that <em>Camiko Face Mask Ltd.'s</em> overall costs (i.e. COS, expenses and rent) accounted 93.4% of sales revenue and 92.31% in 2021.</span></span></p><p><em><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Mark as a 2 + 2</span></span></em></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[1 mark] </em>for the correct calculation of the profit and <em>[1 mark]</em> for showing appropriate working out.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award up to <em>[2 marks]</em> if the commentary shows good understanding of the profit margin ratio, similar to the example above.</span></span></p><hr /><p><strong><span style="font-family:arial,helvetica,sans-serif;">(e) Explain why the profit and loss account records profit <em>before </em>interest and tax. <em>[2 marks]</em></span></strong></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">For historical benchmarking purposes, it is common for analysts to use the profit before interest and tax because both interest and tax are subject to changes beyond the control of the business (the rates of interest and tax are set by the government). Their inclusion in a P&L account could easily distort the underlying profitability of an organization simply due to fluctuations in interest and tax rates.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award<em> [1 mark] </em>for an answer that shows some understanding of the demands of the question.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[2 marks]</em> for an answer that shows good understanding of why profit before interest and tax is recorded on the P&L account, similar to the response above.</span></span></p><hr /><p><strong><span style="font-family:arial,helvetica,sans-serif;">(f) Explain <u>two</u> possible reasons why GPM and profit margin were lower than previously. <em>[4 marks]</em></span></strong></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">The decline in <em>Camiko Face Masks Ltd.'s</em> GPM and profit margin could have been caused by various reasons, such as:</span></span></p><ul><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Inefficiencies within the company, thereby raising unit costs and reducing profit margins.</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Demand for face mask products in New Zealand may have slowed down / declined.</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">The global pandemic of 2020 may have had negative impacts on both the GPM and profit margin of the firm.</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Competition from rival manufacturers of personal protective equipment (such as face masks), which caused the slight drop in <em>Camiko Face Masks Ltd.'s </em>sales revenue.</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Expenses have not declined despite <em>Camiko Face Masks Ltd.'s </em>sales revenues falling, so this will have harmed the profit margin ratio.</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Rising labour costs in New Zealand, which would reduce <em>Camiko Face Masks Ltd.'s</em> <span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">profit margin ratio.</span></span></span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><em>Accept any other possible reason for the lower GPM and </em><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">profit margin ratio </span></span><em>at Camiko Face Masks Ltd.</em></span></span></p></li></ul><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[1 – 2 marks] </em>for a limited answer that shows partial understanding of the possible reasons for the decline in the profitability ratios or if the answer does not make any reference to the financial data.</span></span></p><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[3 – 4 marks]</em> for an explanation that shows a clear understanding of two valid reasons for the decline in the <span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">profit margin ratio </span></span>and GPM at <em>Camiko Face Masks Ltd.</em> There is good use of the financial data above, with appropriate use of business management terminology throughout the answer.</span></span></p></div></section></section></div></section></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Review questions</strong></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;">Review your understanding of this topic of the IB Business Management syllabus by attempting these questions from the Dynamic Quiz. You can refresh your web browser for another set of questions (there are more than 35 questions included in the Dynamic Quiz Bank for this topic).</span></p><section data-general-id="42" data-levels="" data-n-questions="10" data-question-types="1,2,3" data-topics="1114"><div class="tib-quiz" data-quiz-id="3150" data-structure="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" data-score-answers="6d4a526a457a48584f763758344a7649472f76324c53614b78524c393439595570496d5a5971374b38686f3d"><p> </p><div class="exercise"><div class="q-question"><p>Which of the following is not a financial ratio?</p></div><div class="q-answer"><p><label class="radio" data-answer="8c058d6f1e92029ae5346cd6805cab59"><input type="radio" /><span> Net profit margin</span></label></p><p><label class="radio" data-answer="413e8d58a2bac5965b0f9b3cea1805f6"><input type="radio" /><span> Gross profit margin</span></label></p><p><label class="radio" data-answer="a124cd09b49c62bff3aec150ec9679fc"><input type="radio" /><span> Return on capital employed</span></label></p><p><label class="radio" data-answer="0cc0079741ee04ec16817c0c86ca1c58"><input type="radio" /><span> Staff turnover ratio</span></label></p></div><div class="q-explanation"><p>Staff turnover ratio refers to the frequency with which staff leave a business and need to be replaced. It is not a financial ratio, so the correct answer is staff turnover ratio. All other options are all examples of profitability ratios.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>Which of the following cannot be analysed with a profitability ratio?</p></div><div class="q-answer"><p><label class="radio" data-answer="9fe971aed23b6c660bd7438540530897"><input type="radio" /><span> Historical comparisons of a business in two different time periods</span></label></p><p><label class="radio" data-answer="a2f2b156e3367e282c064c79b753284e"><input type="radio" /><span> A firm’s financial performance compared with its competitors</span></label></p><p><label class="radio" data-answer="1ffd1f32dbeabdfa5e33c54f89e52758"><input type="radio" /><span> The return on financial investments made</span></label></p><p><label class="radio" data-answer="ee8b7d14bf1706040a7d4d53e656ff8a"><input type="radio" /><span> The amount of cash spent by the business</span></label></p></div><div class="q-explanation"><p>The amount of cash spent by the business can only be analysed using a cash flow statement or a liquidity ratio. Hence, the answer is Option D. Profitability ratios examine profit in relation to other financial figures, such as sales revenue. The other options can all be analysed using a profitability ratio.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>What does ROCE stand for?</p></div><div class="q-answer"><p><label class="radio" data-answer="b6e63ee2ecd71523ed8ecedef9326bd7"><input type="radio" /><span> Revenues Overheads Costs Expenditure</span></label></p><p><label class="radio" data-answer="383dc368f1b873c7853a82216b5eeb1f"><input type="radio" /><span> Real Operational Capital Employed</span></label></p><p><label class="radio" data-answer="016a52f4a8d13e7d887285460e46d815"><input type="radio" /><span> Return on Capital Employed</span></label></p><p><label class="radio" data-answer="edd7bb4702406319393b11739aa0cdae"><input type="radio" /><span> Rate of Capital Expenditure</span></label></p></div><div class="q-explanation"><p>ROCE stands for Return on Capital Employed, so the correct answer is Return on Capital Employed. ROCE measures the financial performance of a business compared with the amount of capital invested in the business.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>How is the gross profit margin (GPM) calculated?</p></div><div class="q-answer"><p><label class="radio" data-answer="7489b379f9f2571e9dac1b2cd81a624b"><input type="radio" /><span> Gross profit – Expenses</span></label></p><p><label class="radio" data-answer="8c5bffcd5b3297d6a3a7144d9e29a7c8"><input type="radio" /><span> (Gross profit ÷ Sales revenue) × 100</span></label></p><p><label class="radio" data-answer="6a8d3c317a74481b267823d6b22ba01a"><input type="radio" /><span> Sales revenue – Cost of goods sold</span></label></p><p><label class="radio" data-answer="291c4b9c9cb66b1d94095e96a03ddb94"><input type="radio" /><span> (Gross profit ÷ Investment) × 100</span></label></p></div><div class="q-explanation"><p>The gross profit margin (GPM) is calculated using the formula: (gross profit ÷ by sales revenue) × 100. Hence, the correct answer is (Gross profit ÷ Sales revenue) × 100. It shows the value of a firm’s gross profit as a percentage of its sales revenue.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>How is the net profit margin (NPM) calculated?</p></div><div class="q-answer"><p><label class="radio" data-answer="2ce3a5408aaa3b851f667d0caa0fefd3"><input type="radio" /><span> (Net profit ÷ Investment) × 100</span></label></p><p><label class="radio" data-answer="3a7785b1473eb62ab29095b67fe184e0"><input type="radio" /><span> (Net profit ÷ Sales revenue) × 100</span></label></p><p><label class="radio" data-answer="6a8d3c317a74481b267823d6b22ba01a"><input type="radio" /><span> Sales revenue – Cost of goods sold</span></label></p><p><label class="radio" data-answer="7489b379f9f2571e9dac1b2cd81a624b"><input type="radio" /><span> Gross profit – Expenses</span></label></p></div><div class="q-explanation"><p>The net profit margin (NPM) is calculated using the formula: (Net profit ÷ Sales revenue) × 100. Hence, the correct answer is (Net profit ÷ Sales revenue) × 100. The NPM shows the value of a firm’s net profit as a percentage of its sales revenue.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>Which of the following would not improve the gross profit margin (GPM) of a business that operates in a highly competitive market?</p></div><div class="q-answer"><p><label class="radio" data-answer="e65eab94e0e46ce32ff51b69346b185b"><input type="radio" /><span> Introducing new products with a higher gross profit margin</span></label></p><p><label class="radio" data-answer="73a94fb1118d4713075883025f5e4fa7"><input type="radio" /><span> Adopting aggressive promotional strategies that persuade more customers to buy its products</span></label></p><p><label class="radio" data-answer="21f9488c8edf7e3eee278cefc96048de"><input type="radio" /><span> Raising the price of products sold in highly competitive markets</span></label></p><p><label class="radio" data-answer="670259ae23c4968cd39ee2f4a64b0453"><input type="radio" /><span> Falling raw material prices that result in lower cost of goods sold</span></label></p></div><div class="q-explanation"><p>Raising the price of products sold in highly competitive markets would worsen the gross profit margin (GPM) as customers may switch to purchasing the products sold by rival businesses. All other options would all result in an improved GPM for a business.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>How is the current ratio calculated?</p></div><div class="q-answer"><p><label class="radio" data-answer="ddb66d1e5e1a80a6c4e1f3ae9118b161"><input type="radio" /><span> Current assets ÷ Current liabilities</span></label></p><p><label class="radio" data-answer="e6e2bb259e9d9a55c1c67d4f18aea445"><input type="radio" /><span> Gross profit ÷ Total costs</span></label></p><p><label class="radio" data-answer="1f276348c6a34b4cd96e9a5cca2d4c52"><input type="radio" /><span> Fixed assets ÷ Current liabilities</span></label></p><p><label class="radio" data-answer="944c9a005278a13e7fc9d921fb7e5c2e"><input type="radio" /><span> Current assets ÷ Trade creditors</span></label></p></div><div class="q-explanation"><p>The current ratio is calculated by using the following formula: Current assets ÷ Current liabilities. Hence, Current assets ÷ Current liabilities is the correct answer. It measures a firm’s liquid assets compared to its short-term liabilities.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>How does the acid test ratio differ from the current ratio?</p></div><div class="q-answer"><p><label class="radio" data-answer="a73182145275488c6350fe49236a4732"><input type="radio" /><span> It excludes the value of stocks which cannot be quickly turned into cash</span></label></p><p><label class="radio" data-answer="cd9ec3826cc783b425b89bd7ddbf293f"><input type="radio" /><span> It excludes the value of debtors</span></label></p><p><label class="radio" data-answer="8fbe9415cffd928d6454e4976b3271ef"><input type="radio" /><span> It is concerned with future cash flows rather than historical cash flows</span></label></p><p><label class="radio" data-answer="7102262a0a2e1e9fe54822c6f44f7c5f"><input type="radio" /><span> It excludes the value of creditors</span></label></p></div><div class="q-explanation"><p>The acid test ratio is similar to the current ratio except that stock is not included with other current assets. Hence, the correct answer is that it excludes the value of stocks which cannot be quickly turned into cash. The acid test ratio ignores stock as they are not always easily converted into cash, e.g. it is hard to sell stock which is work-in- progress.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>Which of the following performance measures is concerned with a firm’s liquidity?</p></div><div class="q-answer"><p><label class="radio" data-answer="1492f7671208c4cd7bf485efb8f46cc9"><input type="radio" /><span> Acid test</span></label></p><p><label class="radio" data-answer="413e8d58a2bac5965b0f9b3cea1805f6"><input type="radio" /><span> Gross profit margin</span></label></p><p><label class="radio" data-answer="a124cd09b49c62bff3aec150ec9679fc"><input type="radio" /><span> Return on capital employed</span></label></p><p><label class="radio" data-answer="8c058d6f1e92029ae5346cd6805cab59"><input type="radio" /><span> Net profit margin</span></label></p></div><div class="q-explanation"><p>The acid test is a liquidity ratio, so the correct answer is acid test. Liquidity ratios calculate how easily a business can pay off its short term debt with its current assets. All other options are all classified as profitability ratios.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>If current assets equal <dollar>$</dollar>15.6 million, current liabilities equal <dollar>$</dollar>11.2 million and stock equals <dollar>$</dollar>1.8 million, what is the acid test ratio?</p></div><div class="q-answer"><p><label class="radio" data-answer="6b9690d8fc9f647e9a4cbbda62dfd4fa"><input type="radio" /><span> 1.65:1</span></label></p><p><label class="radio" data-answer="78f0bc4c161a5efe028cfca37d0a08af"><input type="radio" /><span> 0.89:1</span></label></p><p><label class="radio" data-answer="7ce45972b62cd76c1e9fa5607f88cd7a"><input type="radio" /><span> 1.39:1</span></label></p><p><label class="radio" data-answer="3e429fc79b1e6d103905db78206215ae"><input type="radio" /><span> 1.23:1</span></label></p></div><div class="q-explanation"><p>The acid test ratio is calculated with the following formula: (current assets – stock) ÷ current liabilities. Substituting in the figures provided gives: (<dollar>$</dollar>15.6 million – <dollar>$</dollar>1.8 million) ÷ <dollar>$</dollar>11.2 million = 1.23:1. Hence, the correct answer is 1.23:1. This figure means that for every <dollar>$</dollar>1 of current liabilities the firm incurs, it has <dollar>$</dollar>1.23 in liquid assets (without having to sell any stock).</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>If current assets equal <dollar>$</dollar>15.6 million, current liabilities equal <dollar>$</dollar>11.2 million and stock equals <dollar>$</dollar>1.8 million, what is the current ratio?</p></div><div class="q-answer"><p><label class="radio" data-answer="78f0bc4c161a5efe028cfca37d0a08af"><input type="radio" /><span> 0.89:1</span></label></p><p><label class="radio" data-answer="7ce45972b62cd76c1e9fa5607f88cd7a"><input type="radio" /><span> 1.39:1</span></label></p><p><label class="radio" data-answer="6b9690d8fc9f647e9a4cbbda62dfd4fa"><input type="radio" /><span> 1.65:1</span></label></p><p><label class="radio" data-answer="3e429fc79b1e6d103905db78206215ae"><input type="radio" /><span> 1.23:1</span></label></p></div><div class="q-explanation"><p>The current ratio is calculated with the following formula: current assets ÷ current liabilities. Substituting in the figures provided gives: <dollar>$</dollar>15.6 million ÷ <dollar>$</dollar>11.2 million = 1.39:1. Hence, the correct answer is 1.39:1. This figure means that for every <dollar>$</dollar>1 of current liabilities, the firm has <dollar>$</dollar>1.39 in liquid assets.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>Which of the following statements best describes the net profit margin (NPM)?</p></div><div class="q-answer"><p><label class="radio" data-answer="cc38913cc02ba756a0e2c0e2af2cd391"><input type="radio" /><span> It shows what proportion of profits are being distributed to shareholders</span></label></p><p><label class="radio" data-answer="25ac413bdbd48c9d3d0a1e4b49a4c33f"><input type="radio" /><span> It shows how well a company is controlling its costs, including expenses</span></label></p><p><label class="radio" data-answer="89ffc18fbdb73585c6547df054f0e2b6"><input type="radio" /><span> It show how efficiently a company is turning profits into cash</span></label></p><p><label class="radio" data-answer="38595d269856408339d29859e941d8eb"><input type="radio" /><span> It shows what return is being made on assets employed in the business</span></label></p></div><div class="q-explanation"><p>The net profit margin (NPM) shows the percentage of sales revenue that is turned into net profit. Hence the correct answer is it shows how well a company is controlling its costs. Net profit is the profit that is left after all production costs and expenses are accounted for.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>The current ratios for four companies are shown below. Which company has the most money tied up in liquid resources?</p></div><div class="q-answer"><p><label class="radio" data-answer="d0bd571dc19c083d82f023c9666c5574"><input type="radio" /><span> 1:1</span></label></p><p><label class="radio" data-answer="5e1a5d83be748e3e96e07948c5a12d2a"><input type="radio" /><span>0.2:1 </span></label></p><p><label class="radio" data-answer="d789a6de8655a8a3442be26bb55a9c5c"><input type="radio" /><span> 1.6:1</span></label></p><p><label class="radio" data-answer="16e83c6d15cbd9e4228abfbae68cb0a5"><input type="radio" /><span> 2.8:1</span></label></p></div><div class="q-explanation"><p>The current ratio measures a firm’s liquid assets compared to its short-term liabilities. It is calculated by using the following formula: current assets ÷ current liabilities. The higher the current ratio the more money is tied up in liquid resources. Hence, the correct answer is 2.8:1. In this case, for every <dollar>$</dollar>1 of current liabilities, the firm has <dollar>$</dollar>2.80 tied up in current assets.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>If sales revenue equals <dollar>$</dollar>10 million, cost of goods sold equal <dollar>$</dollar>6 million and expenses equals <dollar>$</dollar>3 million, what is the gross profit margin?</p></div><div class="q-answer"><p><label class="radio" data-answer="8a6b53c1b24898257df4d567d34adc8a"><input type="radio" /><span> 40%</span></label></p><p><label class="radio" data-answer="a95b98a46ae739145b0a9eba5008e900"><input type="radio" /><span> 20%</span></label></p><p><label class="radio" data-answer="62eb2d65db6ef7d1013b98f8307c8cca"><input type="radio" /><span> 35%</span></label></p><p><label class="radio" data-answer="bb1a5a2b7eec4f940f8e78abe48d68bf"><input type="radio" /><span> 10%</span></label></p></div><div class="q-explanation"><p>The gross profit margin (GPM) shows the value of gross profit as a percentage of sales revenue. Gross profit is calculated by subtracting cost of goods sold (COGS) from sales revenue. In this case, gross profit = <dollar>$</dollar>10m – <dollar>$</dollar>6m = <dollar>$</dollar>4m. Hence, GPM = <dollar>$</dollar>4m ÷ <dollar>$</dollar>10m = 40%. Therefore, the correct answer is 40%.</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>If sales revenue equals <dollar>$</dollar>10 million, cost of goods sold equal <dollar>$</dollar>6 million and expenses equals <dollar>$</dollar>3 million, what is the net profit margin?</p></div><div class="q-answer"><p><label class="radio" data-answer="bb1a5a2b7eec4f940f8e78abe48d68bf"><input type="radio" /><span> 10%</span></label></p><p><label class="radio" data-answer="8a6b53c1b24898257df4d567d34adc8a"><input type="radio" /><span> 40%</span></label></p><p><label class="radio" data-answer="a95b98a46ae739145b0a9eba5008e900"><input type="radio" /><span> 20%</span></label></p><p><label class="radio" data-answer="62eb2d65db6ef7d1013b98f8307c8cca"><input type="radio" /><span> 35%</span></label></p></div><div class="q-explanation"><p>The net profit margin (NPM) shows the value of net profit as a percentage of sales revenue. Net profit is calculated by subtracting expenses from gross profit. In this case net profit = <dollar>$</dollar>10m – <dollar>$</dollar>6m – <dollar>$</dollar>3m = <dollar>$</dollar>1m. Hence, the NPM = <dollar>$</dollar>1m ÷ <dollar>$</dollar>10m = 10%. Therefore, the correct answer is 10%</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="totals"><span class="score">Total Score: </span><button class="btn btn-success check-total"><i class="fa fa-check-square-o"></i> Check</button></div></div><hr></section></div></div><div class="panel-footer"><div></div></div></div><div><section><div class="panel panel-purple"><div class="panel-footer"><div></div></div></div></section></div><p><span style="font-family:arial,helvetica,sans-serif;">Return to the <a href="businessmanagement/page/44593/35-profitability-liquidity-ratio-analysis" title="New syllabus 2022 » Unit 3 - Finance and Accounts » 3.5 Profitability & liquidity ratio analysis">Unit 3.5 - Profitability and liquidity ratio analysis</a> homepage</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Return to the <a href="businessmanagement/page/43545/unit-3-finance-and-accounts" title="New syllabus 2022 » Unit 3 - Finance and Accounts">Unit 3 - Finance and accounts</a> homepage</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="/media/ib/businessmanagement/logo-blue-black.png" style="width:170px;height:54px;" /></span></p><script>document.querySelectorAll('.tib-teacher-only').forEach(e => e.remove());</script>
</section>
</div>
</article>
</div><!-- /#main-column -->
</div>
</div><!-- /#content -->
</div>
</div>
<div id="footer" class="student-access">
<div class="wmap">
<div class="layout-wrapper">
<p>
© <script>document.write(new Date().getFullYear())</script> <em>InThinking</em>
|
<a target="_self" href="https://thinkib.net/subscribe/about-us">
About us
</a>
|
<a target="_self" href="https://thinkib.net/subscribe/legal">
Legal
</a>
|
<a target="_self" href="https://thinkib.net/subscribe/contact">
Contact
</a>
</p>
<p>
<a class="social" target="_blank" href="https://twitter.com/#!/inthinker">
<img src="https://assets.inthinking.net/social/twitter-square.svg"> Twitter
</a>
<a class="social" target="_blank" href="https://www.facebook.com/inthinking.net">
<img src="https://assets.inthinking.net/social/facebook-square.svg"> Facebook
</a>
<a class="social" target="_blank" href="https://www.linkedin.com/company/9s4we1">
<img src="https://assets.inthinking.net/social/linkedin-square.svg"> LinkedIn
</a>
</p>
</div>
</div>
</div>
<input id="tzoffset" type="hidden" value="-7200" /><div id="modal-session-expired" class="modal fade" tabindex="-1" role="dialog" data-backdrop="static" data-keyboard="false">
<div class="modal-dialog" role="document">
<div class="modal-content">
<div class="modal-header">
<h3 style="margin-top: 0">Your session has expired</h3>
</div>
<div class="modal-body" style="padding: 10px;">
<p>You will have to reload and log in again.</p>
</div>
<div class="modal-footer">
<a id="session-expired" class="btn btn-danger pull-right" href="#">
<i class="fa fa-refresh"></i> Reload
</a>
</div>
</div>
</div>
</div>
<!-- Loading scripts at the end of the body means faster page loading -->
<script src="/js/jquery-1.10.2.min.js"></script>
<script src="js/bootstrap.min.js"></script>
<script type="text/javascript" src="js/jq-fancybox/jquery.fancybox.pack.js"></script>
<script src="/js/sidemenu/sidemenu.min.js?v=202011301145"></script><script src="/js/std-access/std-assignments-utils.min.js?v=202305221900"></script><script src="/js/std-access/std-comments-utils.min.js?v=202305221900"></script><script src="/js/std/std-task-utils.min.js?v=202305221900"></script><script src="/js/jq-mark.js/jquery.mark.min.js"></script><!-- MathJax only to render Math ML -->
<!--<script src="https://cdnjs.cloudflare.com/ajax/libs/mathjax/2.7.0/MathJax.js?config=TeX-AMS-MML_HTMLorMML"></script>-->
<script src="https://cdnjs.cloudflare.com/ajax/libs/mathjax/2.7.0/MathJax.js?config=MML_HTMLorMML"></script>
<style>
.math-tex {
font-size: 1.15em !important;
}
.math-tex span.ML__text {
/*font-family: inherit !important;*/
}
.ML__text + .ML__mathit {
margin-left: 0 !important;
}
.math-tex img, .math-tex + img, span img {
box-shadow: none;
margin: 0;
}
body {
--keycap-height: 39px;
--keycap-font-size: 16px;
--keycap-shift-font-size: 9px;
--keycap-small-font-size: 9px;
--keycap-extra-small-font-size: 9px;
--keyboard-toolbar-font-size: 16px;
--keycap-gap: 1px;
}
</style>
<script src="https://unpkg.com/mathlive/dist/mathlive.min.js" async defer></script>
<script src="https://unpkg.com/@cortex-js/compute-engine" async defer></script>
<script type="text/javascript" src="/js/cortexjs-utils.min.js?v=20230810"></script>
<script>
window.addEventListener('load',
() => MathLive.renderMathInDocument()
);
</script>
<script>var isStudent = true;var siteName = "businessmanagement";</script><script type="text/javascript" src="/js/tib-quizzes-utils.min.js?v=20230810"></script>
<script>function a5d1e43abe9b49529(gradeQuiz) {
var url = '/pages/quizzes/get-structure.php',
data = {
'ticket' : $('#ticket').val(),
'data-structure': gradeQuiz.dataStructure,
'score-answers' : gradeQuiz.scoreAnswers,
'std-answers' : gradeQuiz.stdAnswers,
'n-question' : gradeQuiz.nQuestion,
'std-task-id' : gradeQuiz.taskStdId,
'quiz-seconds' : gradeQuiz.quizSeconds,
'is-exam' : gradeQuiz.isExam,
'student-ID' : typeof studentID !== 'undefined' ? studentID : '',
'task-ID' : $('#task-ID').length ? $('#task-ID').val() : '',
'chk-correctness': gradeQuiz.button.data('chk-correctness') ? '1' : '0'
};
$.post(url, data, 'json').done(function(response){
var r = JSON.parse(response);
if (r.success == 1) {
if (gradeQuiz.checkTotal) {
logQuiz(gradeQuiz.button, gradeQuiz.quiz, r, gradeQuiz.notRequired);
} else {
// Check single exercise both from teacher and student side
if (!r.ss || !r.sa) {
alert('You cannot do this task again until after the deadline');
return false;
}
var logger = {};
var mScoreMark = checkExercise(gradeQuiz.exercise, r, gradeQuiz.nQuestion);
//Only needed on Student Access: one by one question log
if (typeof quizLogger === 'function') {
logger = quizLogger(gradeQuiz.quiz, mScoreMark, false);
}
//Only needed on Student Access
if (typeof saveQuizLog === 'function' && !$.isEmptyObject(logger)) {
saveQuizLog(logger, 10, 0);
}
gradeQuiz.button.remove();
}
}
if (r.success == 2) {
sendLogs = false;
// Show score only if allowed to show it
if (r.ss) {
var totalScore = r.score;
var totalMark = r.mark;
var scoreContainer = $('a.check-total').closest('.totals').find('span.score');
if (totalScore == 100) { scoreContainer.addClass('A'); }
else if (totalScore > 70) { scoreContainer.addClass('B'); }
else if (totalScore > 50) { scoreContainer.addClass('C'); }
else if (totalScore > 30) { scoreContainer.addClass('D'); }
else { scoreContainer.addClass('E'); }
scoreContainer.append('<strong>'+ totalMark +'</strong> <small style="opacity: .8">('+ totalScore +'%)</small>');
} else {
$('#quiz-checker').find('.score-container').remove();
}
$('#task-completed-badge').show();
$("html, body").animate({ scrollTop: $('#task-completed-badge').position().top });
controlExamInCombinedTask();
gradeQuiz.button.remove();
}
if (r.success == 0) {
alert(r.msg);
}
});
}
$(document).ready(function(){
if (!$('#ticket').length) {
var inputTicket = '<input type="hidden" id="ticket" value="fd6a5e8a06cfccf2">';
$('body').append(inputTicket);
}
$('section').on('click', '.tib-quiz #save-quiz-progress', function(e) {
e.preventDefault();
let button = $(this);
button.html("<i class=\"fa fa-fw fa-spinner fa-spin colored\"></i> Saving...");
setTimeout(function() {
button.html("<i class=\"fa fa-fw fa-check colored\"></i> Saved!");
}, 2000);
setTimeout(function() {
button.html("<i class=\"fa fa-fw fa-save\"></i> Save progress");
}, 4500);
});
/**
* Quiz final green CHECK button
*/
$('section').on('click', '.tib-quiz .check-total', function(e) {
e.preventDefault();
var body = $('body');
var button = $(this);
var quiz = $(this).closest('.tib-quiz');
var dataStructure = quiz.attr('data-structure');
var scoreAnswers = quiz.attr('data-score-answers');
var notRequired = false;
var taskID = $('#task-ID').length ? $('#task-ID').val() : '';
var taskStdId = $('#std-task-id').length ? $('#std-task-id').val() : '';
//Only for combined tasks
if (typeof button.attr('data-task-id') !== 'undefined') {
var taskID = button.attr('data-task-id');
$('#task-ID').val(taskID);
}
if (typeof button.attr('data-combined-task-required') !== 'undefined' && button.attr('data-combined-task-required') === 'short-answer') {
notRequired = true;
}
if (typeof scoreAnswers == 'undefined') {
scoreAnswers = null;
}
var quizSeconds = '';
if (typeof amountSecs != 'undefined') {
quizSeconds = amountSecs;
}
var isExam = false;
if (typeof examTime != 'undefined') {
isExam = true;
}
body.css('cursor', 'wait');
// Remove grade-by-question 'save progress' button
if ($('#save-quiz-progress').length) {
$('#save-quiz-progress').remove();
}
$.when(
// Collect the std answers
checkAllExercises(quiz)
).then(
function(stdAnswers) {
var gradeQuiz = {
button: button,
quiz: quiz,
dataStructure: dataStructure,
scoreAnswers: scoreAnswers,
stdAnswers: stdAnswers,
checkTotal: true,
nQuestion: null,
exercise: null,
notRequired: notRequired,
taskStdId: taskStdId,
quizSeconds: quizSeconds,
isExam: isExam
};
a5d1e43abe9b49529(gradeQuiz);
body.css('cursor', 'default');
// Was the task already submitted time ago
if( $('#task-completed-badge').hasClass('already-submitted')) {
$('#task-completed-badge').show();
$('#return-my-tasks-q').show();
$("html, body").animate({ scrollTop: $('#task-completed-badge').position().top });
}
}
);
});
/**
* Quiz exercise individual CHECK button
*/
$('section').on('click', '.exercise .btn.check', function(e) {
e.preventDefault();
var body = $('body');
var button = $(this);
var exercise = button.closest('div.exercise');
var quiz = $(this).closest('.tib-quiz');
var dataStructure = quiz.attr('data-structure');
var scoreAnswers = quiz.attr('data-score-answers');
var nQuestion = 0;
//Only for combined tasks
if (typeof $('.check-total').attr('data-task-id') !== 'undefined') {
var taskID = $('.check-total').attr('data-task-id');
$('#task-ID').val(taskID);
}
if (typeof scoreAnswers == 'undefined') {
scoreAnswers = null;
}
var gradeQuiz = {
button: button,
quiz: quiz,
dataStructure: dataStructure,
scoreAnswers: scoreAnswers,
checkTotal: false,
nQuestion: nQuestion,
exercise: exercise,
notRequired: false,
};
body.css('cursor', 'wait');
quiz.find('.exercise').each(function(){
if ($(this)[0] == exercise[0]) {
$(this).find('.q-answer').find('input').attr('disabled', true);
if (quiz.find('.exercise .btn.check').length === 1) {
quiz.find('.check-total').trigger('click');
return;
}
gradeQuiz['nQuestion'] = nQuestion;
a5d1e43abe9b49529(gradeQuiz);
body.css('cursor', 'default');
}
nQuestion++;
});
});
/**
* Quiz exercise individual RESET button
*/
$('section').on('click', '.exercise .btn.reset', function(e) {
e.preventDefault();
var btn_reset = $(this);
var exercise = $(this).closest('div.exercise');
var quiz = $(this).closest('.tib-quiz');
var url = '/pages/quizzes/get-self-study-question.php',
data = {
'ticket' : $('#ticket').val(),
'question-id' : exercise.data('id') ? exercise.data('id') : null
};
btn_reset.html('<i class="fa fa-spinner fa-spin"></i> Reset ');
$.post(url, data, function(response)
{
if(response['success'] == '1') {
var question = $('<div />').html( response['html'] );
if (question.find('div.exercise').length === 1) {
$.when(
exercise.html(question.find('div.exercise')[0].innerHTML)
).then(
tibQuiz(quiz),
limitMultipleChoiceAnswers(exercise),
dragOver(),
dragLeave(),
drop(),
bindDraggables(),
alertMaxCorrectAnswers(quiz),
addLettersBeforeOptions(false, exercise),
MathLive.renderMathInDocument()
);
}
}
else if (response['success'] == '0') {
btn_reset.html('<i class="fa fa-repeat"></i> Reset ');
alert(response['msg']);
}
}, 'json');
});
});</script>
<script type="text/javascript" src="/js/tib-quizzes.min.js?v=20230810"></script><script src="/js/header-circle.min.js?v=202305221900"></script><script type="text/javascript" src="/js/cookies.min.js"></script>
<script type="text/javascript">
// The cookies alert
if (! readCookie("displayCookieConsent") && ! readCookie("y") ) {
var cookieMSG = "We use cookies. By continuing to use this website you are giving consent to cookies being used.";
setTimeout(function() {
$.ajax({
cache: true,
url: "js/cookiechoices.js",
dataType: "script",
success: function () {
cookieChoices.showCookieConsentBar(cookieMSG, 'close', 'Read more', "businessmanagement/legal#cookies");
}
});
}, 2000);
}
</script><script>var sAJAX='/pages/activity/user-stats-page.php?t=fd6a5e8a06cfccf2&x=20625';var sData='0ebg+I>F/4F[IxZ[LIn1o|TM2iQCo|wOqNQcoO>2UjpCqiT2UMk8n-YQIxZg2|Z|hI>C+|c6hI>uUIbCLvc92e/6/OnQ+|>9oNw1o[/z/On8LN>coOk[UxbOqNuc2|w6IicY/4F8][g[2|TMojTe+iTaLmcgqt/z/OpCqir[UxbeqIn9LIb4qTZ1qx/z/4k8n-YQ/O8=';var loopSecs = 30;var lsKey = '2f6ead35f497b90cc0c2a54a0f5cb3e8';</script><script src="/js/user/user-stats-page.min.js?v=202102101800"></script><script>var sessionUpdateSecs = 600;</script><script type="text/javascript" src="/js/session-updater.js?v=20200831"></script>
<script type="text/javascript">
$(document).ready(function(){
function padLeft(str,max){return str.length<max?padLeft("0"+str,max):str}function padRight(str,max){return str.length<max?padRight(str+"0",max):str}$("body").on("click",'a[href="#"], a.fancybox-nav, a[data-toggle="tab"], a[data-toggle="dropdown"], a[data-toggle="collapse"], a[data-toggle="modal"]',(function(e){e.preventDefault()}));var topmenuOffset=0,topmenuHeight=0;function fixDiv(t,h){$(window).scrollTop()<topmenuOffset||$("#topmenu ul.level-1").is(":visible")?($("#topmenu").css({position:"",width:""}),$("#topmenu").removeClass("fixed-top"),$("body").css({"padding-top":"0"})):($("#topmenu").css({position:"fixed",top:"0",width:$("#topmenu").width()+"px"}),$("#topmenu").addClass("fixed-top"),$("body").css({"padding-top":topmenuHeight+"px"}))}function fixSearchNav(){var searchMenuTop=topmenuOffset+topmenuHeight,searchMenuH=$("#nav-menu-search").is(":visible")?$("#nav-menu-search").outerHeight():0;if($(window).scrollTop()>searchMenuTop-topmenuHeight){var borderBottomWidth=parseInt($("#topmenu").css("borderBottomWidth"))+1;$("#nav-menu-search").css({position:"fixed",top:topmenuHeight+borderBottomWidth+"px",left:"0",right:"0"}),$("#nav-menu-search").addClass("fixed-top"),$("body").css("padding-top",topmenuHeight+searchMenuH+"px")}else $("#nav-menu-search").css({position:""}),$("#nav-menu-search").removeClass("fixed-top"),$("body").css("padding-top","0")}$("#topmenu").length&&(topmenuOffset=$("#topmenu").offset().top,topmenuHeight=$("#topmenu").outerHeight(),fixDiv(),$(window).scroll((function(){fixDiv(),fixSearchNav()}))),$("a.toggle-menu-search").on("click",(function(e){e.preventDefault(),$("#nav-menu-search").slideToggle("fast",(function(){$(this).find('input[name="s"]').focus()}))}));var menuH=$("#topmenu").height(),itemH=$("#topmenu > nav > ul > li").height();function fancyScrollTo(id){$("html, body").animate({scrollTop:$("#"+id).offset().top-300},300)}function printSectionBlog(){var w=$(window).width()/2,h,windowSettings="height="+($(window).height()-100)+", width="+w+", left=0, top=0, resizable=no, ";windowSettings+="scrollbars=yes, toolbar=no, menubar=no, location=no, ",windowSettings+="directories=no, status=yes";var myWindow=window.open("","Page printer",windowSettings),containerHtml=["<html>","<head>","<title>Page printer</title>",'<link rel="stylesheet" type="text/css" href="'+window.location.origin+'/css/style.min.css?v=20230303">','<link rel="stylesheet" type="text/css" href="'+window.location.origin+"/css/style"+SITE_TAG+'.min.css?v=202104061357">','<link rel="stylesheet" type="text/css" href="'+window.location.origin+'/css/snippets.min.css?v=202210181500">','<link rel="stylesheet" type="text/css" href="'+window.location.origin+'/css/article.min.css?v=202212191730">',"</head>","<body>",$("section#main-content").html().replace(/<span\sclass="MJX_Assistive_MathML".*?<\/span>/g,""),"</body>","</html>"].join("");containerHtml=containerHtml.replace(/src="files\//gi,'src="'+window.location.origin+"/files/"),myWindow.document.write(containerHtml),myWindow.document.close(),myWindow.focus(),setTimeout((function(){$.when(myWindow.print()).then(myWindow.close())}),1e3)}function PopupPrint(target){window.print()}$("#topmenu > nav > ul > li").each((function(){if(menuH>itemH&&$(this).position().top<1){var i=itemH+1;$(this).find("ul:first").css("margin-top","-"+i+"px")}})),$("#topmenu > nav > ul > li").on("mouseenter mouseleave",(function(e){var submenu=$("ul:first",this),submenuW=submenu.width();$(this).offset().left+submenuW>$(window).width()&&(submenu.css("right","0"),submenu.find("ul").each((function(){if(!$(this).hasClass("fixed")){var l=$(this).width()+submenuW;$(this).css("margin-left","-"+l+"px"),$(this).addClass("fixed")}})))})),$("a.showhider").click((function(e){e.preventDefault();var box="#"+$(this).attr("rel"),show='<i class="fa fa-eye"></i>',hide='<i class="fa fa-eye-slash"></i>';$(box).slideToggle("fast"),$(this).html($(this).html()==show?hide:show),$(this).attr("title","Show"==$(this).attr("title")?"Hide":"Show")})),$("a.scroll-to").click((function(e){e.preventDefault();var n=$("#"+$(this).data("target")).offset().top-70;$("html, body").animate({scrollTop:n},300)})),$("a.print-section-blog").click((function(e){e.preventDefault(),printSectionBlog()})),$(".print-button").click((function(e){var target;e.preventDefault(),PopupPrint("#"+$(this).data("target-id"))})),$(".alert.alert-success").delay(6e3).hide("fast",fixDiv());var fancyParent=1==$("body").find($("#main-article")).length?"#main-article":"body",fancyOptions={loop:!1,openEffect:"elastic",closeEffect:"elastic",nextEffect:"fade",prevEffect:"fade",parent:fancyParent,helpers:{title:{type:"inside"}}};if($("ul.gallery").each((function(){var rel=$(this).find("li:first-child > a:first-child").attr("rel");$('ul.gallery a.fancy[rel="'+rel+'"]').fancybox(fancyOptions)})),$(".carousel.slide").each((function(){var rel="gallery-"+$(this).data("id");$('.carousel.slide a.fancy[rel="'+rel+'"]').fancybox(fancyOptions)})),$("img.pop").parent("a").each((function(){$(this).attr("title",$(this).children("img").attr("alt"))})),$("img.pop").parent("a").fancybox({loop:!1,helpers:{title:{type:"inside"}}}),!are_cookies_enabled()){var msg='<div class="alert alert-error"><i class="fa fa-warning"></i> Your browser does not accept cookies from this site. Please enable cookies to log in.</div><div class="alert alert-info"><i class="fa fa-question-circle"></i> Enabling cookies in <a target="_blank" style="margin: 0; padding: 0;" href="https://support.mozilla.org/en-US/kb/enable-and-disable-cookies-website-preferences">Firefox</a>, <a target="_blank" style="margin: 0; padding: 0;" href="https://support.google.com/accounts/answer/61416?hl=en">Chrome</a>, <a target="_blank" style="margin: 0; padding: 0;" href="http://windows.microsoft.com/en-us/windows-vista/block-or-allow-cookies">Explorer</a></div>';$("#modal-login .modal-header").append(msg)}if($(".panel-expandable > .panel-heading").click((function(e){e.preventDefault();var panel=$(this).closest(".panel-expandable"),expandables=panel.hasClass("panel-has-footer")?".panel-body, .panel-footer":".panel-body";panel.find(".panel-body").is(":visible")?(panel.find(expandables).slideUp("fast"),panel.find(".expander > .fa-minus").removeClass("fa-minus").addClass("fa-plus")):(panel.find(expandables).slideDown("fast"),panel.find(".expander > .fa-plus").removeClass("fa-plus").addClass("fa-minus"))})),$("#modal-find-out-more").css({width:.8*$("#container").width()+"px","margin-left":-.4*$("#container").width()+"px"}),$(".modal-xxl").length){var modalTopPos=Math.round(.07*$(window).height());$(window).width()>1200&&$(".modal-xxl").css({"max-width":$(window).width()>960?"960px":$(window).width()+"px",width:$(window).width()>960?"960px":$(window).width()+"px","margin-left":$(window).width()>960?"-480px":Math.round($(window).width()/2)}),$(".modal-xxl").css("top",modalTopPos+"px"),$(".modal-xxl").on("shown",(function(){var mHeaderH=$(this).find(".modal-header").outerHeight(),mBody=$(this).find(".modal-body"),mBodyH=mBody.outerHeight(),mFooterH=$(this).find(".modal-footer").outerHeight(),bottomOfTheModal=modalTopPos+mHeaderH+mBodyH+mFooterH;if(bottomOfTheModal<$(window).height())mBodyH+=$(window).height()-bottomOfTheModal-60,mBody.css("max-height",mBodyH+"px");else{$(window).scrollTop(0),modalTopPos=10,$(".modal-xxl").css("top",modalTopPos+"px"),bottomOfTheModal=modalTopPos+mHeaderH+mBodyH+mFooterH,availableScroll=bottomOfTheModal-$(window).height()+modalTopPos;var lastPos=-1;$(window).on("scroll",(function(){var s=$(window).scrollTop()>availableScroll?availableScroll:$(window).scrollTop();newPos=modalTopPos-s,newPos!=lastPos&&($(".modal-xxl").css("top",newPos+"px"),lastPos=newPos)}))}}))}function popupHelp(url,title,w,h){var dualScreenLeft=void 0!==window.screenLeft?window.screenLeft:screen.left,dualScreenTop=void 0!==window.screenTop?window.screenTop:screen.top,width,height,left=(window.innerWidth?window.innerWidth:document.documentElement.clientWidth?document.documentElement.clientWidth:screen.width)/2-w/2+dualScreenLeft,top=(window.innerHeight?window.innerHeight:document.documentElement.clientHeight?document.documentElement.clientHeight:screen.height)/2-h/2+dualScreenTop,newWindow=window.open(url,title,"menubar=no,location=no,resizable=0, width="+w+", height="+h+", top="+top+", left="+left);return window.focus&&(newWindow?newWindow.focus():$('<div class="alert alert-warning" style="margin-bottom: 0px;"><p class="help-block">Pop Up blocked. Please allow Pop Ups in your browser settings.</p></div>').insertBefore("body")),newWindow}if($(".open-student-access-help").click((function(e){e.preventDefault();var h=$(window).height()-20,w=$(window).width()<1280?$(window).width():1280;popupHelp(helpURL,"Student Access Help",w,h)})),$(".pop-up-help").click((function(e){e.preventDefault();var url=$(this).attr("href"),title=$(this).data("title"),h=$(window).height()-20,w;popupHelp(url,title,$(window).width()<1280?$(window).width():1280,h)})),$("section.tib-hiddenbox").length){var count=0;$($("section.tib-hiddenbox").get().reverse()).each((function(){var box=$(this),revealButton;$("<a />").attr("class","btn showhider").attr("rel","hiddenBoxContent"+count).attr("style","margin-bottom: 0;").html('<i class="fa fa-eye"></i>').insertBefore(box);var newContainer=$("<div />").attr("class","hidden-content").attr("id","hiddenBoxContent"+count).html(box.html());newContainer.hide(),newContainer.insertBefore(box),box.remove(),count++})),$("a.showhider").on("click",(function(e){var container=$("#"+$(this).attr("rel"));container.is(":hidden")?(container.fadeIn("fast"),$(this).html('<i class="fa fa-eye-slash"></i>')):(container.fadeOut("fast"),$(this).html('<i class="fa fa-eye"></i>'))}))}
$('img.ico[src="https://assets.inthinking.net/thinkib/icons/comments.png"]').each(function(){var comment=$(this).attr("title");$(this).removeAttr("title");$(this).wrap('<a class="tib-popover" href="#" data-content="'+comment+'" data-togle="popover" data-placement="top" />')});$('img.ico[src="https://assets.inthinking.net/thinkib/icons/comments.png"]').each(function(){var comment=$(this).attr("title");$(this).removeAttr("title");$(this).wrap('<a class="tib-popover" href="#" data-content="'+comment+'" data-togle="popover" data-placement="top" />')});$(".tib-popover").popover({html:true,trigger:"hover",delay:{show:300,hide:300},placement:function(context,source){var position=$(source).position();if(position.top>200){return"top"}if(position.left<515){return"right"}if(position.top<200){return"bottom"}if(position.left>515){return"left"}return"top"}}).click(function(e){e.preventDefault()});var carouselTime=6500;$("div.carousel.slide").carousel({interval:carouselTime});$(".tib-indicators > img").click(function(){var index=$(this).index();var container=$(this).closest(".carousel.slide");container.carousel(index)});setShowResultsListeners($("#container"));addMarksThreads($("#modal-std-write"));
$('a.btn.showhider').click(function(e) {
var showHiderId = $( this ).attr('rel');
if( $('#'+showHiderId).find('iframe').length > 0 ) {
$('#'+showHiderId+' iframe').each(function() {
if ( $(this).attr('src').indexOf('.pdf') > 0 ) {
this.contentWindow.location.reload(true);
}
});
}
});
});
</script>
</body>
</html>