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(HL)</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21699/unit-2.html" 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="../21753/21-functions-evolution-of-hrm.html" 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="../25388/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21754/22-organizational-structure.html" 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="../25471/glossary-organizational-structure.html" title="Glossary: Organizational structure">Glossary: Organizational structure</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21755/23-leadership-and-management.html" title="2.3 Leadership and management">2.3 Leadership and management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24733/glossary-leadership-management.html" title="Glossary: Leadership & Management">Glossary: Leadership & Management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../24745/24-motivation.html" title="2.4 Motivation">2.4 Motivation</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24719/glossary-motivation.html" title="Glossary: Motivation">Glossary: Motivation</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21757/25-organizational-culture-hl-only.html" title="2.5 Organizational culture (HL only)">2.5 Organizational culture (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25243/glossary-organizational-culture.html" title="Glossary: Organizational culture">Glossary: Organizational culture</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21758/26-industrialemployee-relations-hl-only.html" title="2.6 Industrial/employee relations (HL only)">2.6 Industrial/employee relations (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25125/glossary-industrialemployee-relations.html" title="Glossary: Industrial/employee relations">Glossary: Industrial/employee relations</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21670/unit-3.html" title="Unit 3">Unit 3</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21744/31-sources-of-finance.html" title="3.1 Sources of finance">3.1 Sources of finance</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24501/glossary-sources-of-finance.html" title="Glossary: Sources of finance">Glossary: Sources of finance</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21745/32-costs-and-revenues.html" title="3.2 Costs and revenues">3.2 Costs and revenues</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22092/glossary-costs-revenues.html" title="Glossary: Costs & revenues">Glossary: Costs & revenues</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21746/33-break-even-analysis.html" title="3.3 Break-even analysis">3.3 Break-even analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22270/contribution-analysis.html" title="Contribution analysis">Contribution analysis</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22093/glossary-break-even-analysis.html" title="Glossary: Break-even analysis">Glossary: Break-even analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21747/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31367/glossary-final-accounts.html" title="Glossary: Final accounts">Glossary: Final accounts</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21748/35-profitability-and-liquidity-ratio-analysis.html" title="3.5 Profitability and liquidity ratio analysis">3.5 Profitability and liquidity ratio analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25111/glossary-profitability-and-liquidity-ratio-analysis.html" title="Glossary: Profitability and liquidity ratio analysis">Glossary: Profitability and liquidity ratio analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21749/36-efficiency-ratio-analysis-hl-only.html" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25114/glossary-efficiency-ratios.html" title="Glossary: Efficiency ratios">Glossary: Efficiency ratios</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21750/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25118/cash-flow-forecasts.html" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31376/glossary-cash-flow.html" title="Glossary: Cash flow">Glossary: Cash flow</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21751/38-investment-appraisal.html" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31377/glossary-investment-appraisal-.html" title="Glossary: Investment appraisal ">Glossary: Investment appraisal </a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21752/39-budgets-hl-only.html" title="3.9 Budgets (HL only)">3.9 Budgets (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31378/39-budgets-hl-only-glossary.html" title="3.9 Budgets (HL Only) Glossary">3.9 Budgets (HL Only) Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21684/unit-4.html" title="Unit 4">Unit 4</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21767/41-the-role-of-marketing.html" title="4.1 The role of marketing">4.1 The role of marketing</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25618/glossary-the-role-of-marketing.html" title="Glossary: The role of marketing">Glossary: The role of marketing</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21768/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../28328/glossary-marketing-planning.html" title="Glossary: Marketing planning">Glossary: Marketing planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21769/43-sales-forecasting-hl-only.html" title="4.3 Sales forecasting (HL only)">4.3 Sales forecasting (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25713/glossary-sales-forecasting.html" title="Glossary: Sales forecasting">Glossary: Sales forecasting</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21713/44-market-research.html" title="4.4 Market research">4.4 Market research</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25208/glossary-market-research.html" title="Glossary: Market research">Glossary: Market research</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21770/45-the-four-ps.html" title="4.5 The four Ps">4.5 The four Ps</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Product">Product</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22627/glossary-product.html" title="Glossary: Product">Glossary: Product</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22525/price.html" title="Price">Price</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22548/glossary-price.html" title="Glossary: Price">Glossary: Price</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22567/promotion.html" title="Promotion">Promotion</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22704/45-promotion-glossary.html" title="4.5 Promotion - Glossary">4.5 Promotion - Glossary</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22745/place.html" title="Place">Place</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../23813/45-place-glossary.html" title="4.5 Place - Glossary">4.5 Place - Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21774/46-the-extended-marketing-mix-7-ps-hl.html" title="4.6 The extended marketing mix (7 Ps) (HL)">4.6 The extended marketing mix (7 Ps) (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23814/glossary-the-extended-marketing-mix-hl.html" title="Glossary: The extended marketing mix (HL)">Glossary: The extended marketing mix (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21772/47-international-marketing-hl-only.html" title="4.7 International marketing (HL only)">4.7 International marketing (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23815/glossary-international-marketing-hl.html" title="Glossary: International Marketing (HL)">Glossary: International Marketing (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21773/48-e-commerce.html" title="4.8 E-commerce">4.8 E-commerce</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23797/glossary-e-commerce.html" title="Glossary: E-commerce">Glossary: E-commerce</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21688/unit-5.html" title="Unit 5">Unit 5</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21937/51-the-role-of-operations-management.html" title="5.1 The role of operations management">5.1 The role of operations management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24843/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21938/52-production-methods.html" title="5.2 Production methods">5.2 Production methods</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24848/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21939/53-lean-production-quality-management-hl.html" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24839/glossary-lean-production-and-quality-management.html" title="Glossary: Lean Production and quality management">Glossary: Lean Production and quality management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21700/54-location.html" title="5.4 Location">5.4 Location</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24959/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21695/55-production-planning-hl.html" title="5.5 Production planning (HL)">5.5 Production planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25032/glossary-production-planning.html" title="Glossary: Production planning">Glossary: Production planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../33222/56-research-development-hl.html" title="5.6 Research & development (HL)">5.6 Research & development (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../34014/glossary-research-development.html" title="Glossary: Research & Development">Glossary: Research & Development</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21941/57-crisis-management-contingency-planning-hl.html" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25042/glossary.html" title="Glossary">Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../25115/cuegis.html" title="CUEGIS">CUEGIS</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The 6 CUEGIS concepts">The 6 CUEGIS concepts</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Ethics">Ethics</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../21954/mcdonalds-supersize-me.html" title="McDonald's - Supersize Me">McDonald's - Supersize Me</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The CUEGIS essay">The CUEGIS essay</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22876/planning-your-cuegis-essay.html" title="Planning your CUEGIS essay">Planning your CUEGIS essay</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../33806/paper-2-section-c-questions.html" title="Paper 2 Section C Questions">Paper 2 Section C Questions</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../33959/the-ia.html" title="The IA">The IA</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="HL IA">HL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22190/35-sample-research-questions-for-the-hl-ia.html" title="35 sample research questions for the HL IA">35 sample research questions for the HL IA</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22200/hl-ia-student-checklist.html" title="HL IA - Student Checklist">HL IA - Student Checklist</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../33508/ia-hl-poster.html" title="IA HL Poster">IA HL Poster</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="SL IA">SL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22146/sl-ia-20-sample-titles.html" title="SL IA - 20 Sample Titles">SL IA - 20 Sample Titles</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38181/faq-about-the-sl-ia.html" title="FAQ about the SL IA">FAQ about the SL IA</a></li></ul></ul><li class="ancestor parent" style="padding-left: 14px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="../22114/exams.html" title="Exams">Exams</a></li><ul class="level-2 expanded"><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../22115/command-terms.html" title="Command Terms">Command Terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../36599/glossary-of-key-terms.html" title="Glossary of key terms">Glossary of key terms</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../38059/flashcards-revision.html" title="Flashcards - Revision">Flashcards - Revision</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38060/flashcards-revision-unit-1.html" title="Flashcards - Revision (Unit 1)">Flashcards - Revision (Unit 1)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38056/unit-11-revision-flashcards.html" title="Unit 1.1 Revision Flashcards">Unit 1.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38061/unit-12-revision-flashcards.html" title="Unit 1.2 Revision Flashcards">Unit 1.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38067/unit-13-revision-flashcards.html" title="Unit 1.3 Revision Flashcards">Unit 1.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38092/unit-14-revision-flashcards.html" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38096/unit-15-revision-flashcards.html" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38102/unit-16-revision-flashcards.html" title="Unit 1.6 Revision Flashcards">Unit 1.6 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38103/unit-17-revision-flashcards.html" title="Unit 1.7 Revision Flashcards">Unit 1.7 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38114/flashcards-revision-unit-2.html" title="Flashcards - Revision (Unit 2)">Flashcards - Revision (Unit 2)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38121/unit-21-revision-flashcards.html" title="Unit 2.1 Revision Flashcards">Unit 2.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38125/unit-22-revision-flashcards.html" title="Unit 2.2 Revision Flashcards">Unit 2.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38126/unit-23-revision-flashcards.html" title="Unit 2.3 Revision Flashcards">Unit 2.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38144/unit-24-revision-flashcards.html" title="Unit 2.4 Revision Flashcards">Unit 2.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38146/unit-25-revision-flashcards.html" title="Unit 2.5 Revision Flashcards">Unit 2.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38147/unit-26-revision-flashcards-hl-only.html" title="Unit 2.6 Revision Flashcards (HL only)">Unit 2.6 Revision Flashcards (HL only)</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38149/flashcards-revision-unit-3.html" title="Flashcards - Revision (Unit 3)">Flashcards - Revision (Unit 3)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38153/unit-31-revision-flashcards.html" title="Unit 3.1 Revision Flashcards">Unit 3.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38154/unit-32-revision-flashcards.html" title="Unit 3.2 Revision Flashcards">Unit 3.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38182/unit-33-revision-flashcards.html" title="Unit 3.3 Revision Flashcards">Unit 3.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38183/unit-34-revision-flashcards.html" title="Unit 3.4 Revision Flashcards">Unit 3.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38191/unit-35-revision-flashcards.html" title="Unit 3.5 Revision Flashcards">Unit 3.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38192/unit-36-revision-flashcards-hl.html" title="Unit 3.6 Revision Flashcards (HL)">Unit 3.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38193/unit-37-revision-flashcards.html" title="Unit 3.7 Revision Flashcards">Unit 3.7 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38194/unit-38-revision-flashcards.html" title="Unit 3.8 Revision Flashcards">Unit 3.8 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38195/unit-39-revision-flashcards.html" title="Unit 3.9 Revision Flashcards">Unit 3.9 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38196/flashcards-revision-unit-4.html" title="Flashcards - Revision (Unit 4)">Flashcards - Revision (Unit 4)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38198/unit-41-revision-flashcards.html" title="Unit 4.1 Revision Flashcards">Unit 4.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38203/unit-42-revision-flashcards.html" title="Unit 4.2 Revision Flashcards">Unit 4.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38217/unit-43-revision-flashcards.html" title="Unit 4.3 Revision Flashcards">Unit 4.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38218/unit-44-revision-flashcards.html" title="Unit 4.4 Revision Flashcards">Unit 4.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38219/unit-45a-product-revision-flashcards.html" title="Unit 4.5a Product Revision Flashcards">Unit 4.5a Product Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38220/unit-45b-price-revision-flashcards.html" title="Unit 4.5b Price Revision Flashcards">Unit 4.5b Price Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38221/unit-45c-promotion-revision-flashcards.html" title="Unit 4.5c Promotion Revision Flashcards">Unit 4.5c Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38222/unit-45d-promotion-revision-flashcards.html" title="Unit 4.5d Promotion Revision Flashcards">Unit 4.5d Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38223/unit-46-revision-flashcards-hl.html" title="Unit 4.6 Revision Flashcards (HL)">Unit 4.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38224/unit-47-revision-flashcards-hl.html" title="Unit 4.7 Revision Flashcards (HL)">Unit 4.7 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38225/unit-48-e-commerce-flashcards.html" title="Unit 4.8 E-commerce Flashcards">Unit 4.8 E-commerce Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38232/flashcards-revision-unit-5.html" title="Flashcards - Revision (Unit 5)">Flashcards - Revision (Unit 5)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38233/unit-51-revision-flashcards.html" title="Unit 5.1 Revision Flashcards">Unit 5.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38234/unit-52-revision-flashcards.html" title="Unit 5.2 Revision Flashcards">Unit 5.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38235/unit-53-revision-flashcards-hl.html" title="Unit 5.3 Revision Flashcards (HL)">Unit 5.3 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38236/unit-54-revision-flashcards.html" title="Unit 5.4 Revision Flashcards">Unit 5.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38237/unit-55-revision-flashcards-hl.html" title="Unit 5.5 Revision Flashcards (HL)">Unit 5.5 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38238/unit-56-revision-flashcards-hl.html" title="Unit 5.6 Revision Flashcards (HL)">Unit 5.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38239/unit-57-revision-flashcards-hl.html" title="Unit 5.7 Revision Flashcards (HL)">Unit 5.7 Revision Flashcards (HL)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../33830/formulae-quiz.html" title="Formulae Quiz">Formulae Quiz</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 1 Pre-release case study">Paper 1 Pre-release case study</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44969/n22-case-study-ele-plc.html" title="N22 Case Study (ELE PLC)">N22 Case Study (ELE PLC)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M22 (Peacewick Uni)">M22 (Peacewick Uni)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../44106/additional-exam-questions-paper-1.html" title="Additional exam questions (Paper 1)">Additional exam questions (Paper 1)</a></li></ul><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../32840/may-2020-p-s-trawlers.html" title="May 2020 (P&S Trawlers)">May 2020 (P&S Trawlers)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M23 Paper 1">M23 Paper 1</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../47825/paper-1-svt-study-guide-shirin-karimi.html" title="Paper 1 SVT Study Guide (Shirin Karimi)">Paper 1 SVT Study Guide (Shirin Karimi)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../26095/exam-study-tips-resources.html" title="Exam & Study tips (resources)">Exam & Study tips (resources)</a></li><li class="current" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="revision-exams-top-tips.html" title="Revision & Exams - Top tips">Revision & Exams - Top tips</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../47460/top-tips-for-m23-exams.html" title="Top Tips for M23 Exams">Top Tips for M23 Exams</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43522/unit-1-intro-to-bm.html" title="Unit 1 - Intro to BM">Unit 1 - Intro to BM</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44034/11-what-is-a-business.html" title="1.1 What is a business?">1.1 What is a business?</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399681.html" title="1.2 Types of business entities">1.2 Types of business entities</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44041/13-business-objectives.html" title="1.3 Business objectives">1.3 Business objectives</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44044/14-stakeholders.html" title="1.4 Stakeholders">1.4 Stakeholders</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44045/15-growth-and-evolution.html" title="1.5 Growth and evolution">1.5 Growth and evolution</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44046/16-multinational-companies.html" title="1.6 Multinational companies">1.6 Multinational companies</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43530/unit-2-hrm.html" title="Unit 2 - HRM">Unit 2 - HRM</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44253/21-introduction-to-hrm.html" title="2.1 Introduction to HRM">2.1 Introduction to HRM</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44256/role-of-hrm.html" title="Role of HRM">Role of HRM</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44257/factors-that-influence-hr-planning.html" title="Factors that influence HR planning">Factors that influence HR planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44282/reasons-for-resistance-to-change.html" title="Reasons for resistance to change">Reasons for resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44283/hr-strategies-for-reducing-the-impact-of-change-resistance-to-ch.html" title="HR strategies for reducing the impact of change & resistance to change">HR strategies for reducing the impact of change & resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45458/21-true-or-false-quiz.html" title="2.1 True or False quiz">2.1 True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43677/21-glossary-of-key-terms.html" title="2.1 Glossary of key terms">2.1 Glossary of key terms</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43875/22-organizational-structure.html" title="2.2 Organizational structure">2.2 Organizational structure</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44338/23-leadership-and-management.html" title="2.3 Leadership and management">2.3 Leadership and management</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45462/23-true-or-false-quiz.html" title="2.3 True or False Quiz">2.3 True or False Quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43829/24-motivation-and-demotivation.html" title="2.4 Motivation and demotivation">2.4 Motivation and demotivation</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44371/types-of-training.html" title="Types of training">Types of training</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44390/25-organizational-corporate-culture-hl.html" title="2.5 Organizational (corporate) culture (HL)">2.5 Organizational (corporate) culture (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44247/26-communication.html" title="2.6 Communication">2.6 Communication</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43545/unit-3-finance.html" title="Unit 3 - Finance">Unit 3 - Finance</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44435/31-introduction-to-finance.html" title="3.1 Introduction to finance">3.1 Introduction to finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44431/31-introduction-to-finance-role-of-finance.html" title="3.1 Introduction to finance - role of finance">3.1 Introduction to finance - role of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45634/31-glossary-of-key-term.html" title="3.1 Glossary of key term">3.1 Glossary of key term</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44436/32-sources-of-finance.html" title="3.2 Sources of finance">3.2 Sources of finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44437/internal-sources-of-finance.html" title="Internal sources of finance">Internal sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44450/external-sources-of-finance.html" title="External sources of finance">External sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44479/appropriateness-of-sources-of-finance.html" title="Appropriateness of sources of finance">Appropriateness of sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45483/32-true-or-false-quiz.html" title="3.2 True or False Quiz">3.2 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43688/32-glossary-of-key-terms.html" title="3.2 Glossary of key terms">3.2 Glossary of key terms</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44486/33-costs-and-revenues.html" title="3.3 Costs and revenues">3.3 Costs and revenues</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44492/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44593/35-profitability-liquidity-ratio-analysis.html" title="3.5 Profitability & liquidity ratio analysis">3.5 Profitability & liquidity ratio analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44627/36-efficiency-ratio-analysis-hl-only.html" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44493/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44515/38-investment-appraisal.html" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44519/net-present-value-npv-hl.html" title="Net present value (NPV) (HL)">Net present value (NPV) (HL)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44564/39-budgets-hl.html" title="3.9 Budgets (HL)">3.9 Budgets (HL)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43547/unit-4-marketing.html" title="Unit 4 - Marketing">Unit 4 - Marketing</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44637/41-introduction-to-marketing.html" title="4.1 Introduction to marketing">4.1 Introduction to marketing</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43823/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44660/43-sales-forecasting-hl.html" title="4.3 Sales forecasting (HL)">4.3 Sales forecasting (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44669/benefits-limitations-of-sales-forecasting.html" title="Benefits & limitations of sales forecasting">Benefits & limitations of sales forecasting</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44679/44-market-research.html" title="4.4 Market research">4.4 Market research</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44680/why-how-organizations-carry-out-market-research.html" title="Why & how organizations carry out market research">Why & how organizations carry out market research</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44720/45-the-seven-ps-of-the-marketing-mix.html" title="4.5 The seven Ps of the marketing mix">4.5 The seven Ps of the marketing mix</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44740/451-product.html" title="4.5.1 Product">4.5.1 Product</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44782/453-promotion.html" title="4.5.3 Promotion">4.5.3 Promotion</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44697/46-international-marketing-hl.html" title="4.6 International marketing (HL)">4.6 International marketing (HL)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43565/unit-5-operations-mgt.html" title="Unit 5 - Operations Mgt">Unit 5 - Operations Mgt</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44817/51-introduction-to-operations-management.html" title="5.1 Introduction to operations management">5.1 Introduction to operations management</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44812/52-operations-methods.html" title="5.2 Operations methods">5.2 Operations methods</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44861/53-lean-production-quality-management-hl.html" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44840/55-break-even-analysis.html" title="5.5 Break-even analysis">5.5 Break-even analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44890/56-production-planning-hl.html" title="5.6 Production planning (HL)">5.6 Production planning (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45242/57-crisis-management-contingency-planning-hl.html" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45669/59-management-information-systems-hl.html" title="5.9 Management Information Systems (HL)">5.9 Management Information Systems (HL)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43603/exams.html" title="Exams">Exams</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43740/command-terms.html" title="Command terms">Command terms</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45612/glossary-of-key-terms.html" title="Glossary of key terms">Glossary of key terms</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../33955/the-core.html" title="The Core">The Core</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The EE">The EE</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../32857/ee-planning-form.html" title="EE Planning form">EE Planning form</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../37390/managing-the-ee-process.html" title="Managing the EE process">Managing the EE process</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../25192/tok-bm.html" title="TOK & BM">TOK & BM</a></li></ul><li class=" parent 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<h1 class="section-title">Revision & Exams - Top tips</h1>
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<h4><span style="font-family:arial,helvetica,sans-serif;">Top exam and revision tips for IB Business Management</span></h4><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/exams2.png" style="width: 330px; height: 186px;"></span></p><p><span style="color:#696969;"><em>"I have nothing in common with lazy people who blame others for their lack of success. Great things come from hard work and perseverance. No excuses - dedication sees dreams come true.</em>"<br>- Kobe Bryant (1978 - 2020), US professional basketball player</span></p><hr><h5><span style="font-family:arial,helvetica,sans-serif;"></span><span style="font-family:arial,helvetica,sans-serif;">Revision Tip 1 - Learn your key terms</span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Keep a glossary of key terms from the IB Business Management course - Too often, students are imprecise with their definitions. As your students work through the IB BM course, get them to keep a glossary of new key terms or phrases – written in their own words. The glossary can be update when you introduce new tools, theories and techniques from the syllabus.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">For a bit more fun, get your students to produce their own key terms crosswords, word searches, or true or false vocabulary quizzes to help reinforce their knowledge of the main key terms and definitions.</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">This website contains a glossary of key terms at the end of each unit, covering over <strong>750 </strong>key terms that have been defined. Students must spend adequate time learning and reviewing these key terms.</span></span></p></section><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(103, 7, 124);"> </span> ATL Activity 1 - Confusing Pairs</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Students need to be learn their key terms (definitions) from the IB Business Management syllabus. The list below are confusing pairs of key terms - ask students to define and distinguish between these pairs:</span></p><table border="1" cellpadding="0" cellspacing="0" style="width:100.0%;" width="100%"><tbody><tr><td style="width:50.0%;height:23px;"><p>Advertising</p></td><td style="width:50.0%;height:23px;"><p>Promotion</p></td></tr><tr><td style="width:50.0%;height:23px;"><p><em>Bankruptcy</em></p></td><td style="width:50.0%;height:23px;"><p><em>Insolvency</em></p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Business</p></td><td style="width:50.0%;height:23px;"><p>Company</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Capital employed</p></td><td style="width:50.0%;height:23px;"><p>Loan capital</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Capital expenditure</p></td><td style="width:50.0%;height:23px;"><p>Revenue expenditure</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Cash</p></td><td style="width:50.0%;height:23px;"><p>Sales revenue</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Cash flow cycle</p></td><td style="width:50.0%;height:23px;"><p>Cash flow forecast</p></td></tr><tr><td style="width:50.0%;height:23px;"><p><em>Data</em></p></td><td style="width:50.0%;height:23px;"><p><em>Information</em></p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Delayering</p></td><td style="width:50.0%;height:23px;"><p>Redundancies</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Direct cost</p></td><td style="width:50.0%;height:23px;"><p>Variable cost</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Dismissal</p></td><td style="width:50.0%;height:23px;"><p>Redundancy</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Job enrichment</p></td><td style="width:50.0%;height:23px;"><p>Empowerment</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Job enrichment</p></td><td style="width:50.0%;height:23px;"><p>Job enlargement</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Joint venture</p></td><td style="width:50.0%;height:23px;"><p>Strategic alliance</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Market share</p></td><td style="width:50.0%;height:23px;"><p>Market growth</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Marketing mix</p></td><td style="width:50.0%;height:23px;"><p>Marketing strategy</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Non-governmental organization (NGO)</p></td><td style="width:50.0%;height:23px;"><p>Charity</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Offshoring</p></td><td style="width:50.0%;height:23px;"><p>Outsourcing</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Performance-related pay (PRP)</p></td><td style="width:50.0%;height:23px;"><p>Profit-related pay</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Place</p></td><td style="width:50.0%;height:23px;"><p>Location</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Price</p></td><td style="width:50.0%;height:23px;"><p>Cost</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Profit</p></td><td style="width:50.0%;height:23px;"><p>Revenue</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Profit</p></td><td style="width:50.0%;height:23px;"><p>Surplus</p></td></tr><tr><td style="width:50.0%;height:23px;"><p><em>Project-based organization</em></p></td><td style="width:50.0%;height:23px;"><p>Matrix structure</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Public sector</p></td><td style="width:50.0%;height:23px;"><p>Publicly held company</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Revenue streams</p></td><td style="width:50.0%;height:23px;"><p>Sources of finance</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Salaries</p></td><td style="width:50.0%;height:23px;"><p>Wages</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Sales revenue</p></td><td style="width:50.0%;height:23px;"><p>Cash inflows</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Span of control</p></td><td style="width:50.0%;height:23px;"><p>Chain of command</p></td></tr><tr><td style="width:50.0%;height:23px;"><p>Stakeholders</p></td><td style="width:50.0%;height:23px;"><p>Shareholders</p></td></tr><tr><td style="width:50.0%;height:23px;">Strategy</td><td style="width:50.0%;height:23px;">Tactic</td></tr><tr><td style="width:50.0%;height:23px;"><em>Strike action</em></td><td style="width:50.0%;height:23px;"><em>Industrial action</em></td></tr><tr><td style="width:50.0%;height:23px;">Vision statement</td><td style="width:50.0%;height:23px;">Mission statement</td></tr></tbody></table><em>Note:</em> terms shown in italics are HL only.<section class="tib-hiddenbox"><p><strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"></span></span></strong><span class="snippet-fa fa fa-lightbulb-o fa-lg" style="color: rgb(103, 7, 124);"> </span> <strong><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Top tip! - The EEE (triple E) technique</span></span></strong></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">When defining key terms, although it is not usually required, it can be useful if students provide one of the following three E's:</span></span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>E</strong>xample</span></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>E</strong>xplanation / exemplify (briefly only)</span></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><strong>E</strong>quation (where applicable)</span></span></p></li></ul><hr class="hidden"><p><span style="color:#FF0000;">Take for example the following question that appeared in November 2020 SL Paper 2, Question 2 (a).</span></p><p><span style="color:#FF0000;"><strong>2. </strong>(a) Define the term <em>price discrimination</em>. <em>[2 marks]</em></span></p><p><span style="color:#FF0000;">The mark scheme gave the following definition:</span></p><p><span style="color:#FF0000;">"Price discrimination is when a firm charges a different price to different groups of consumers for an identical good or service."</span></p><p><span style="color:#FF0000;">Award [1 mark] for a basic definition conveying the idea that it allows a business to sell the same goods/services at different prices. <em>This is what the above example actually shows.</em></span></p><p><span style="color:#FF0000;">Award an additional [1 mark] for stating the differing prices are for different groups of consumers that can be separated in some way. <em>Note that the above definition in the mark scheme does <u>not</u> include such an example, yet the mark scheme goes on to state:</em></span></p><p><span style="color:#FF0000;">A candidate may achieve the second mark through the use of a good exemplar, e.g. by explaining that a cinema charges higher prices for adults than for children.</span></p><p><span style="color:#FF0000;"><em>Hence, the use of simple, but realistic, examples in definitions </em><em><u>can</u> be useful in certain cases.</em></span></p></section></div><div class="greenBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(103, 7, 124);"> </span> ATL Activity 2 - 5-4-3-2-1 Vocab blanks</span></span></h5><p><img alt="" height="233" src="../../../ib/businessmanagement/images/one-use/5-4-3-2-1.jpg" width="420"></p><p>Fill in the missing blanks with plausible answers for key terms in each of the following cases.</p><ol><li>State <strong>five </strong>words that can come after the word 'Market .....'</li><li><hr class="hidden">State <strong>four </strong>words that can come after the word 'Brand .....'</li><li><hr class="hidden">State <strong>three </strong>words that can come after the word 'Target .....'</li><li><hr class="hidden">State <strong>two </strong>words that can come after the word 'Public .....'</li><li><hr class="hidden">State <strong>one </strong>word that can come after the word 'Mass .....'</li></ol><hr class="hidden"><section class="tib-hiddenbox"><p><strong><span style="color:#FF0000;">Answers</span></strong></p><p><span style="color:#FF0000;"><em>Note</em>: possible answers are included here for illustrative purpose; accept any other relevant key terms that students might provide.</span></p><p>1) State <strong>five </strong>words that can come after the word 'Market'</p><p><span style="color:#FF0000;">Market development, Market growth, Market leader, Market orientation (or market oriented), Market penetration, Market research, Market segment, Market share, Market size ...</span></p><hr class="hidden"><p>2) State <strong>four </strong>words that can come after the word 'Brand'</p><p><span style="color:#FF0000;">Brand awareness, Brand development, Brand loyalty, Brand name, Brand recognition, Brand value</span></p><hr class="hidden"><p>3) State <strong>three </strong>words that can come after the word 'Target'</p><p><span style="color:#FF0000;">Target market, Target price, Target profit, Target profit output ... (the latter three are covered in the topic of <a href="../21746/33-break-even-analysis.html" title="Unit 3 » 3.3 Break-even analysis">break-even analysis</a>)</span></p><hr class="hidden"><p>4) State <strong>two </strong>words that can come after the word 'Public'</p><p><span style="color:#FF0000;">Public sector, Public limited company, Public-Private Partnerships ...</span></p><hr class="hidden"><p>5) State <strong>one </strong>word that can come after the word 'Mass'</p><p><span style="color:#FF0000;">Mass market, Mass production ...</span></p></section></div><div class="greenBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(103, 7, 124);"> </span> ATL Activity 3 - Abbreviations Galore</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Not only are there around 640 key terms in the IB Business Management course, but there are plenty of abbreviations that students also need to know. For the list below, ask students to:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">State what these abbreviation stands for.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Define the key term (the ones in italics are HL only).</span></p></li></ul><table><tbody><tr><td><p><span style="font-family:arial,helvetica,sans-serif;">ARR</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Average rate of return</span></span></p></section></td><td><p><span style="font-family:arial,helvetica,sans-serif;">ATL</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Above the line (promotion)</span></span></p></section></td></tr><tr><td><p><span style="font-family:arial,helvetica,sans-serif;">NCF</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Net cash flow</span></span></p></section></td><td><p><span style="font-family:arial,helvetica,sans-serif;">WOM</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Word of mouth (promotion or marketing)</span></span></p></section></td></tr><tr><td><p><span style="font-family:arial,helvetica,sans-serif;">ROCE</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Return on capital employed</span></span></p></section></td><td><p><span style="font-family:arial,helvetica,sans-serif;">B2B</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Business to business</span></span></p></section></td></tr><tr><td><p><span style="font-family:arial,helvetica,sans-serif;">GPM</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Gross profit margin</span></span></p></section></td><td><p><span style="font-family:arial,helvetica,sans-serif;">SMM</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Social media marketing</span></span></p></section></td></tr><tr><td><p><span style="font-family:arial,helvetica,sans-serif;">COGS</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Cost of goods sold</span></span></p></section></td><td><p><span style="font-family:arial,helvetica,sans-serif;">MNC</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Multinational company (or multinational corporation)</span></span></p></section></td></tr><tr><td><p><span style="font-family:arial,helvetica,sans-serif;">COS</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Cost of sales</span></span></p></section></td><td><p><span style="font-family:arial,helvetica,sans-serif;">AVC</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Average variable costs</span></span></p></section></td></tr><tr><td><p><span style="font-family:arial,helvetica,sans-serif;">PLC</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Public limited company (or product life cycle)</span></span></p></section></td><td><p><span style="font-family:arial,helvetica,sans-serif;">IPO</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Initial public offering</span></span></p></section></td></tr><tr><td><p><span style="font-family:arial,helvetica,sans-serif;">C2C</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Consumer to consumer <em>(or Cradle to Cradle)</em></span></span></p></section></td><td><p><span style="font-family:arial,helvetica,sans-serif;"><em>IPR</em></span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Intellectual property rights</span></span></p></section></td></tr><tr><td><p><span style="font-family:arial,helvetica,sans-serif;"><em>JIT</em></span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><em><span style="color:#FF0000;">Just in time</span></em></span></p></section></td><td><p><span style="font-family:arial,helvetica,sans-serif;"><em>JIC</em></span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><em><span style="color:#FF0000;">Just in case</span></em></span></p></section></td></tr><tr><td><p><span style="font-family:arial,helvetica,sans-serif;"><em>CTM</em></span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><em><span style="color:#FF0000;">Cost to make</span></em></span></p></section></td><td><p><span style="font-family:arial,helvetica,sans-serif;"><em>CTB</em></span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><em><span style="color:#FF0000;">Cost to buy</span></em></span></p></section></td></tr><tr><td><p>B2C</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Business to Consumer</span></p></section></td><td><p>BTL</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Below the line (promotion)</span></p></section></td></tr><tr><td><p>ATL</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Above the line (promotion)</span></p></section></td><td><p>BEQ</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Break-even quantity</span></p></section></td></tr><tr><td><p>PRP</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Performance related pay</span></p></section></td><td><p><em>NVP</em></p><section class="tib-hiddenbox"><p><em><span style="color:#FF0000;">Net present value</span></em></p></section></td></tr></tbody></table></div><p><span style="font-family:arial,helvetica,sans-serif;">Click <a href="../33511/key-terms-glossary.html" title="Misc » Resources » Key terms glossary">here</a> for the full glossary of key terms, arranged in <span style="font-family:arial,helvetica,sans-serif;">order of the IB Business Management <span style="font-family:arial,helvetica,sans-serif;"></span></span>syllabus. Click <a href="../36599/glossary-of-key-terms.html">here</a> for the full glossary, arranged in alphabetical order.</span></p><hr class="hidden"><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-lightbulb-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Top tip! - Watch out for oxymora</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">A top tip for teachers - not only do confusing pairs (see above) cause problems for many students, also watch out for oxymora language and terminology used in IB Business Management as well as other words that seem to make little sense to non-native English speakers.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Examples of oxymora that might be used in an IB Business Management classroom, with references to the corporate world, might include:</span></p><div class="row-fluid"><div class="span6 col-left"><div><ul class="branded"><li><p>Artificial intelligence</p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Business ethics</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Constant change</span></p></li><li><p>Crisis planning</p></li><li><p>Negative growth</p></li><li><p>Negative profit</p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Non-profit organization</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Old news</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;">Paid volunteers</span></span></p></li></ul></div></div><div class="span6"><div><ul class="branded"><li><p>Profit <em>and </em>loss</p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"></span>Realistic estimates (extrapolation)</span></p></li><li><p>Redundant workers</p></li><li><p>Revenue expenditure</p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Unknown risks</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Unbiased opinions (market research)</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Unemployed workers</span></p></li><li><p>Work social</p></li><li><p>Zero-contract hours (employment law)</p></li></ul></div></div></div></div><hr><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"></span></span></span><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;">Revision </span>Tip </span>2 - Practise your quantitative techniques</span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/quantitative1.png" style="width: 330px; height: 180px;"></span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">Both SL and HL <span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;">IB Business Management </span></span> students need to be familiar and competent with the use of quantitative techniques, especially as this is explicitly examined in Section A of Paper 2. Some examples of quantitative techniques from the syllabus are listed below. Click on the hyperlink to get to the relevant section of the website to revise these topics and have a go at the <a href="../33512/inthinking-question-bank.html" title="Misc » Resources » InThinking Question Bank">Question Bank</a> Q&A for revision too. The topics in <em>italics </em>are HL Only.</span></p><table><tbody><tr><td><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../21746/33-break-even-analysis.html" title="Unit 3 » 3.3 Break-even analysis">Break-even analysis</a></span></p></td><td><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../21751/38-investment-appraisal-some-hl-only.html" title="Unit 3 » 3.8 Investment appraisal (some HL only)">Investment appraisal</a></span></p></td></tr><tr><td><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../21750/37-cash-flow.html" title="Unit 3 » 3.7 Cash flow">Cash flow forecasting</a></span></p></td><td><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../25106/profit-loss-account.html" title="Unit 3 » 3.4 Final accounts (some HL only) » Profit & loss account">Profit & Loss accounts</a></span></p></td></tr><tr><td><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../23884/balance-sheets.html" title="Unit 3 » 3.4 Final accounts (some HL only) » Balance sheets">Balance sheets</a></span></p></td><td><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../21748/35-profitability-and-liquidity-ratio-analysis.html" title="Unit 3 » 3.5 Profitability and liquidity ratio analysis">Ratio analysis</a></span></p></td></tr><tr><td><p><em><span style="font-family:arial,helvetica,sans-serif;"><a href="../24031/decision-trees.html" title="Unit 1 » 1.7 Organizational planning tools (HL only) » Decision trees">Decision trees</a></span></em></p></td><td><p><em><span style="font-family:arial,helvetica,sans-serif;"><a href="../21752/39-budgets-hl-only.html" title="Unit 3 » 3.9 Budgets (HL only)">Budgeting</a></span></em></p></td></tr><tr><td><p><em><span style="font-family:arial,helvetica,sans-serif;"><a href="../24033/gantt-chart.html" title="Unit 1 » 1.7 Organizational planning tools (HL only) » Gantt chart">Gantt charts</a></span></em></p></td><td><p><em><span style="font-family:arial,helvetica,sans-serif;"><a href="../24032/force-field-analysis.html" title="Unit 1 » 1.7 Organizational planning tools (HL only) » Force field analysis">Force field analysis</a></span></em></p></td></tr></tbody></table><p>Also, make sure you understand the purpose of these quantitative techniques, such as ratio analysis. For example, there is good reason why the gross profit margin (GPM) and net profit margin (NPM) are expressed to 2 decimal places - make sure you know <em>why </em>this is the case.</p><p>Also, for the calculation of the NPM ratio, be sure you understand why it considers the net profit <em>before </em>interest and tax (NPBIT) - don't just rote learn the formulae or refer to the formulae sheet without actual understanding of the ratio.</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Using NPBIT is a better option (than net profit <em>after </em>interest and tax) to compare the actual operations of a business over time over between two or more businesses for benchmarking purposes. Using NPBIT also allows managers to compare the financial performance of the business and/or its numerous divisions in different countries without the impact of varying interest rates and the impact of taxes in the different countries of operation. Both interest rates and taxes are beyond the (cost) control of the business and do not directly reflect how well the business has been run.</span></p></section><hr><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"></span></span></span></span><span style="font-family:arial,helvetica,sans-serif;"><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;">Revision </span>Tip </span>3 - Write fit for purpose paragraphs</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0">Students can use the <strong>PEELS </strong>framework for writing their extended-response answers in both Paper 1 and Paper 2 in the <span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;">IB Business Management exams</span></span>.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="234" src="../../../ib/businessmanagement/files/exam-tips-(posters)/peels.jpg" width="422"></span></p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">It is not uncommon for IB Business Management teachers to also teach <strong>IB Economics</strong>. The PEELS framework <span style="font-family:arial,helvetica,sans-serif;"><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0">can also be used for those studying IB Economics too, for the extended response questions in both papers for SL students and all three papers for HL students.</span></span></span></p><p><span style="color:#FF0000;">For students writing their</span> <a href="../21665/the-ee.html" title="The Core » The EE">Extended Essay</a><span style="color:#FF0000;"> in Business Management, use the PEELS framework to ensure that each of your paragraphs are fit for purpose and directly address the research question.</span></p></section><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-lightbulb-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Top tip!</span></span></h5><p>Writing fit for purpose paragraphs also requires explanations or analyses that include the effects (impacts) or significance of the issues discussed. For top marks, you must include relevant Business Management terms, tools, theories, and/or techniques in a concise manner.</p></div><hr><h5><span style="font-family:arial,helvetica,sans-serif;"></span><span style="font-family:arial,helvetica,sans-serif;">Revision Tip 4a - Practice your application skills with SPOTT analysis</span></h5><div dir="auto" style="text-align: start;"><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto">This top tip was shared by</span><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><span><span class="oajrlxb2 g5ia77u1 qu0x051f esr5mh6w e9989ue4 r7d6kgcz rq0escxv nhd2j8a9 nc684nl6 p7hjln8o kvgmc6g5 cxmmr5t8 oygrvhab hcukyx3x jb3vyjys rz4wbd8a qt6c0cv9 a8nywdso i1ao9s8h esuyzwwr f1sip0of lzcic4wl q66pz984 gpro0wi8 b1v8xokw"><span> </span></span><span>Mr. <strong>Fanie van der Merwe</strong></span></span></span><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto">, Head of Humanities at Dulwich College Suzhou, during a workshop that I ran in April 2021. <span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><span><span class="oajrlxb2 g5ia77u1 qu0x051f esr5mh6w e9989ue4 r7d6kgcz rq0escxv nhd2j8a9 nc684nl6 p7hjln8o kvgmc6g5 cxmmr5t8 oygrvhab hcukyx3x jb3vyjys rz4wbd8a qt6c0cv9 a8nywdso i1ao9s8h esuyzwwr f1sip0of lzcic4wl q66pz984 gpro0wi8 b1v8xokw"><span> </span></span><span>Mr. van der Merwe</span></span></span> commented that his students often struggle with applying their answers to the context of the business in the case study, i.e. they do not always <em>spot </em>the important stimulus material that should be used in their answers. So, here is <span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><span><span>Mr. van der </span></span></span></span><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><span><span>Merwe</span></span></span></span>'s excellent idea to help them - he calls it "SPOTT analysis".</span></div><div dir="auto" style="text-align: start;"><img alt="" src="../../../ib/businessmanagement/images/exams/spott.jpg" style="width: 360px; height: 190px;"></div><div dir="auto" style="text-align: start;"><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"></span><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"></span><ul class="branded"><li><p><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><strong>S</strong> – Stakeholders</span></p></li><li><p><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><strong>P</strong> – Product</span></p></li><li><p><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><strong>O</strong> – Objectives</span></p></li><li><p><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><strong>T</strong> – Type of business</span></p></li><li><p><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><strong>T</strong> – Target market</span><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"></span><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"></span></p></li></ul><p>Note: just mentioning the name of the organization in your responses is <u>not </u>considered as application.</p><p><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto">Click the icon below to see a sample of SPOTT analysis that was created by <span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><span><span>Mr. van der Merwe's</span></span></span> </span>students. I have a feeling this is going to catch on across many schools...</span></p></div><div dir="auto" style="text-align: start;"><section class="tib-hiddenbox"></section></div><div dir="auto" style="text-align: start;"><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto">Thanks once again for sharing this, Fanie <span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><span class="d2edcug0 hpfvmrgz qv66sw1b c1et5uql lr9zc1uh a8c37x1j keod5gw0 nxhoafnm aigsh9s9 d3f4x2em fe6kdd0r mau55g9w c8b282yb iv3no6db jq4qci2q a3bd9o3v knj5qynh oo9gr5id hzawbc8m" dir="auto"><span><span>van der Merwe!</span></span></span></span></span></div><div dir="auto" style="text-align: start;"><hr class="hidden"></div><h5 dir="auto"><span style="font-family:arial,helvetica,sans-serif;">Revision Tip 4b - Practice your application skills with "BAD" analysis</span></h5><p>I am grateful to <strong>Michael Albanese</strong>, who teaches in the UK, for sharing this top tip for getting students to really understand the meaning of good analysis!</p><div dir="auto" style="text-align: start;"><p>Students often struggle to fully apply their Business Management knowledge to a given case study, so to demonstrate the importance of good application, try the following:</p><p>1. Load this YouTube music clip of Michael Jackson’s <em>Smooth Crimina</em>l with volume down to zero (no sound).</p><p>2. Then using a second tab, play this YouTube clip of Michael Jackson’s <em>BAD</em>, with volume up (to a sensible volume).</p><p>3. Switch back to the silent <em>Smooth Criminal</em> video whilst playing the <em>BAD </em>song.</p><p>4. After a short while, ask your students what the problem is.</p><p>They soon realise that the <em>BAD </em>song doesn't quite "go" with the<em> Smooth Crimina</em>l video, in the same way that candidates often do not apply their knowledge to the actual exam answers. In other words, it doesn't matter how well you "dance", you have to dance to the tune of the case study!</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Of course, if you and/or your students are not a fan of Michael Jackson, you can choose another pair of music videos in which they dance in time to the music. However, <strong>BAD </strong>was chosen deliberately to illustrate what bad analysis could look like for students.</span></p><p><span style="color:#FF0000;">It's a fun activity to get the message across - so, why not give it a go?!</span></p></section></div><hr><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"></span></span></span><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;">Revision </span>Tip </span>5 - Write analytical and evaluative responses</span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0">This is a top tip for writing answers to 6 and 10 mark questions, respectively:<span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0"> the <strong>DEAD </strong>and <strong>DEADER </strong>principles</span>. Students can use this as a framework for their extended response answers in both Paper 1 and Paper 2.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/files/exam-tips-(posters)/dead-deader.jpg" style="width: 415px; height: 260px;"></span></p><p>There is also good advice on how to develop your critical thinking skills in this article from the <a href="https://www-tes-com.cdn.ampproject.org/c/s/www.tes.com/news/critical-thinking-philosophy-logic-pupils-long-term-benefits?amp">Times Educational Supplement</a>.</p><p>Good trigger words to use to help with evaluation include:</p><div class="row-fluid"><div class="span6 col-left"><div><ul class="branded"><li><p>However, ...</p></li><li><p>In the short term, ... but in the long term ...</p></li><li><p>In retrospect, ...</p></li><li><p>In theory, ... but in reality ...</p></li><li><p>It depends on ...</p></li></ul></div></div><div class="span6"><div><ul class="branded"><li><p>It is likely that ...</p></li><li><p>Nevertheless, ...</p></li><li><p>On the other hand ...</p></li><li><p>Overall, ...</p></li><li>The most significant factor is, ... because ...</li></ul></div></div></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-exclamation-circle fa-lg" style="color: rgb(202, 72, 26);"> </span> Common mistake</span></span></h5><p>Avoid using these sorts of overly used phrases in your evaluation/conclusion:</p><ul class="branded"><li><p><em>"The business should not choose this option as it is too risky..."</em> - Everything strategic decision that a business makes carries a degree of risk; even doing nothing carries some risk. Your evaluation/conclusion must explain why a particular option is a lower risk than the other, or why a higher risk strategy might actually be in the best interest of the business in the future.</p></li><li><p><em>"The advantages are larger than the disadvantages...”</em> - This sort of statement is too vague on its own to secure the top marks. It is more effective to prioritise your arguments and justify which of the (dis)advantage is the most important in terms of leading the organization to achieve its business objectives.</p></li></ul></div><div class="yellowBg"><h5><span class="snippet-fa fa fa-lightbulb-o fa-lg" style="color: rgb(61, 30, 128);"> </span> <span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Top tip!</span></span></h5><p>Have a look at the typical 6-mark question below and consider how you would approach such questions.</p><p style="text-align: center;"><strong>Explain the importance of corporate social responsibility (CSR) to Company X. <em>[6 marks]</em></strong></p><p>Many students will start their answer on the lines of:</p><p>"The possible reasons why CSR is of importance to Company X include..."</p><p>The potential with this approach is that it can lead students to write descriptive and theoretical responses, whereas the demands of the question clearly require application to the case study or stimulus material provided in the exam. Instead, this about change the word "possible" to "likely" and this will encourage you to write your responses in the context of the case study:</p><p>"The <strong>likely </strong>reasons why CSR is of importance to Company X include..."</p></div><hr><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"></span></span></span><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;">Revision </span>Tip 6 -</span> Structure the <a href="../21720/the-cuegis-essay.html" title="CUEGIS » The CUEGIS essay">CUEGIS Essay</a> (Paper 2, Section C) properly</span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0">This is a general essay framework for structuring the CUEGIS essay, which students might find useful for writing their answer for Section C of Paper 2: <strong>INVEST </strong>in your </span><span class="r-18u37iz"> <a href="../21720/the-cuegis-essay.html" title="CUEGIS » The CUEGIS essay">CUEGIS</a></span><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0"> essay.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="338" src="../../../ib/businessmanagement/files/exam-tips-(posters)/invest.jpg" width="422"></span></p><p><span style="font-family:arial,helvetica,sans-serif;">There is more advice about the CUEGIS assessment <a href="../25115/cuegis.html" title="CUEGIS">here</a>.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">You can also download a useful CUEGIS poster <a href="../33601/cuegis-poster.html" title="CUEGIS » CUEGIS Poster">here</a>.</span></p><hr><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"></span></span></span><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;">Revision </span>Tip </span>7 - Write justified recommendations</span></h5><div class="css-1dbjc4n"><p class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" dir="auto" lang="en"><span style="font-family:arial,helvetica,sans-serif;"><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0">Top Tip for</span><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0"> <strong>Paper 1 </strong>(Section C) and <strong>Paper 2</strong> (Section B, part D) - when making recommendations about business </span> <a href="../22132/strategy.html" title="CUEGIS » The 6 CUEGIS concepts » Strategy">strategy</a><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0">, firms that don't consider these factors are <strong>LOSERS </strong>in the industry.</span><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0"></span></span></p><div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" dir="auto" lang="en"><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="237" src="../../../ib/businessmanagement/files/exam-tips-(posters)/losers.jpg" width="424"></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Note: HL students - f<span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0">or the <em>20-mark </em>essay (Paper 1 Section C), remember that every business decision has <strong>two </strong>implications - the impact on <u>human resources</u> (the firm's people) and <u>finance</u> (the firm's money).</span></span></p></div></div><hr><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"></span></span></span><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;">Revision </span>Tip 8</span> - Learn the meaning of the command terms</span></h5><p><img alt="" height="352" src="../../../ib/businessmanagement/images/command-terms-poster.png" width="465"></p><p>It is vital that you understand the different <strong>command terms</strong> used in the DP Business Management syllabus, as each command word in a question indicates the level of skills that is being assessed. Learning these command terms will helps you to comprehend the demands of the questions in the exams as well as improve the quality of your written answers. Knowing what is required of you in the exams will also help to improve your time management skills. There are <strong>30 </strong>command terms used in DP Business Management.</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">The command terms are classified into 4 different assessment objectives (AO):</span></p><ul class="branded"><li><p><span style="color:#FF0000;">AO1 - Demonstration of knowledge and understanding</span></p></li><li><p><span style="color:#FF0000;">AO2 - Demonstration of application and analysis</span></p></li><li><p><span style="color:#FF0000;">AO3 - Demonstration of synthesis and evaluation</span></p></li><li><p><span style="color:#FF0000;">AO4 - Demonstration of a variety of appropriate skills, specific to the subject.</span></p></li></ul><div class="row-fluid"><div class="span6 col-left"><div><ul class="branded"><li><p><span style="color:#FF0000;">Define (AO1)</span></p></li><li><p><span style="color:#FF0000;">Describe (AO1)</span></p></li><li><p><span style="color:#FF0000;">Outline (AO1)</span></p></li><li><p><span style="color:#FF0000;">State (AO1)</span></p></li><li><p><span style="color:#FF0000;">Analyse (AO2)</span></p></li><li><p><span style="color:#FF0000;">Apply (AO2)</span></p></li><li><p><span style="color:#FF0000;">Comment (AO2)</span></p></li><li><p><span style="color:#FF0000;">Demonstrate (AO2)</span></p></li><li><p><span style="color:#FF0000;">Distinguish (AO2)</span></p></li><li><p><span style="color:#FF0000;">Explain (AO2)</span></p></li><li><p><span style="color:#FF0000;">Suggest (AO2)</span></p></li><li><p><span style="color:#FF0000;">Compare (AO3)</span></p></li><li><p><span style="color:#FF0000;">Compare and contrast (AO3)</span></p></li><li><p><span style="color:#FF0000;">Contrast (AO3)</span></p></li><li><p><span style="color:#FF0000;">Discuss (AO3)</span></p></li></ul></div></div><div class="span6"><div><ul class="branded"><li><p><span style="color:#FF0000;">Evaluate (AO3)</span></p></li><li><p><span style="color:#FF0000;">Examine (AO3)</span></p></li><li><p><span style="color:#FF0000;">Justify (AO3)</span></p></li><li><p><span style="color:#FF0000;">Recommend (AO3)</span></p></li><li><p><span style="color:#FF0000;">To what extent (AO3)</span></p></li><li><p><span style="color:#FF0000;">Annotate (AO4)</span></p></li><li><p><span style="color:#FF0000;">Calculate (AO4)</span></p></li><li><p><span style="color:#FF0000;">Complete (AO4)</span></p></li><li><p><span style="color:#FF0000;">Construct (AO4)</span></p></li><li><p><span style="color:#FF0000;">Determine (AO4)</span></p></li><li><p><span style="color:#FF0000;">Draw (AO4)</span></p></li><li><p><span style="color:#FF0000;">Identify (AO4)</span></p></li><li><p><span style="color:#FF0000;">Label (AO4)</span></p></li><li><p><span style="color:#FF0000;">Plot (AO4)</span></p></li><li><p><span style="color:#FF0000;">Prepare (AO4)</span></p></li></ul></div></div></div><p><span style="color:#FF0000;">Take a look <a href="../22115/command-terms.html">here</a> for an explanation of each of the above 30 command terms used in IB Business Management.</span></p></section><hr><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"></span></span></span><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;">Revision </span>Tip 9</span> - Practise writing substantiated conclusions</span></h5><p>Note tha AO3 questions require a well-argued and substantiated conclusion. Practice writing conclusions for your extended response answers based on the following tips:</p><ul class="branded"><li><p>Construct a <u>balanced response</u> to the question, issue, decision, or action that you have been asked to judge or evaluate.</p></li><li><p>Ensure your arguments are weighed in terms of their significance in addressing the question, i.e. arguments must be <u>prioritised</u>.</p></li><li><p><u>Conclusions</u> and <u>judgements</u> are also required.</p></li><li><p>A good conclusion is one that is well <u>substantiated</u>.</p></li></ul><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-times-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Common mistake</span></span></h5><p>Too many students start their extended response with a final recommendation and/or judgement. This is poor exam technique. You must present a balanced, two-sided argument to the question or issue at hand, prior to making a (justified) decision or judgement in the <u>conclusion</u>, rather than the <u>introduction</u> of the answer.</p></div><hr><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;">Revision </span>Tip 10</span> - Take regular breaks when revising</span></h5><p><img alt="" src="../../../ib/businessmanagement/images/coffee.jpg" style="width: 300px; height: 190px;"></p><p>Revising for extended periods of time, and very late at night (which will make you extremely sleep deprived) can be counterproductive. If you revise IB Business Management for consecutive 30-minute periods, you will improve your knowledge quite a bit in the first few sessions. However, if you continue to revise for additional 30-minute blocks, eventually the amount that you learn will increase by only a very small amount (if at all) because you will become too tired. It is more productive and effective to revise for shorter, but regular, time slots. Make sure you take regular breaks, and doing something you really enjoy, such as some light physical exercise or a short walk, so that you can recharge your batteries.</p><p>And in the words of Jack Ma, founder of Alibaba.com and someone who failed his English proficiency exams three times,<em> "Never give up. Today is hard. Tomorrow will be worse. But the day after tomorrow, there will be sunshine."</em></p><hr class="hidden"><p>Return to the <a href="../22114/exams.html" title="Exams">Exams</a> homepage</p><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../../../businessmanagement.html"><img alt="" src="../../../ib/businessmanagement/logo-blue-black-1.png" style="width: 170px; height: 54px;"></a></span></p><script>document.querySelectorAll('.tib-teacher-only').forEach(e => e.remove());</script>
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