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href="../22093/glossary-break-even-analysis.html" title="Glossary: Break-even analysis">Glossary: Break-even analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21747/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31367/glossary-final-accounts.html" title="Glossary: Final accounts">Glossary: Final accounts</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21748/35-profitability-and-liquidity-ratio-analysis.html" title="3.5 Profitability and liquidity ratio analysis">3.5 Profitability and liquidity ratio analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25111/glossary-profitability-and-liquidity-ratio-analysis.html" title="Glossary: Profitability and liquidity ratio analysis">Glossary: Profitability and liquidity ratio analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21749/36-efficiency-ratio-analysis-hl-only.html" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25114/glossary-efficiency-ratios.html" title="Glossary: Efficiency ratios">Glossary: Efficiency ratios</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21750/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25118/cash-flow-forecasts.html" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31376/glossary-cash-flow.html" title="Glossary: Cash flow">Glossary: Cash flow</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21751/38-investment-appraisal.html" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31377/glossary-investment-appraisal-.html" title="Glossary: Investment appraisal ">Glossary: Investment appraisal </a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21752/39-budgets-hl-only.html" title="3.9 Budgets (HL only)">3.9 Budgets (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../31378/39-budgets-hl-only-glossary.html" title="3.9 Budgets (HL Only) Glossary">3.9 Budgets (HL Only) Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21684/unit-4.html" title="Unit 4">Unit 4</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21767/41-the-role-of-marketing.html" title="4.1 The role of marketing">4.1 The role of marketing</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25618/glossary-the-role-of-marketing.html" title="Glossary: The role of marketing">Glossary: The role of marketing</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21768/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../28328/glossary-marketing-planning.html" title="Glossary: Marketing planning">Glossary: Marketing planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21769/43-sales-forecasting-hl-only.html" title="4.3 Sales forecasting (HL only)">4.3 Sales forecasting (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25713/glossary-sales-forecasting.html" title="Glossary: Sales forecasting">Glossary: Sales forecasting</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21713/44-market-research.html" title="4.4 Market research">4.4 Market research</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25208/glossary-market-research.html" title="Glossary: Market research">Glossary: Market research</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21770/45-the-four-ps.html" title="4.5 The four Ps">4.5 The four Ps</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Product">Product</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22627/glossary-product.html" title="Glossary: Product">Glossary: Product</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22525/price.html" title="Price">Price</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22548/glossary-price.html" title="Glossary: Price">Glossary: Price</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22567/promotion.html" title="Promotion">Promotion</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../22704/45-promotion-glossary.html" title="4.5 Promotion - Glossary">4.5 Promotion - Glossary</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22745/place.html" title="Place">Place</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../23813/45-place-glossary.html" title="4.5 Place - Glossary">4.5 Place - Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21774/46-the-extended-marketing-mix-7-ps-hl.html" title="4.6 The extended marketing mix (7 Ps) (HL)">4.6 The extended marketing mix (7 Ps) (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23814/glossary-the-extended-marketing-mix-hl.html" title="Glossary: The extended marketing mix (HL)">Glossary: The extended marketing mix (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21772/47-international-marketing-hl-only.html" title="4.7 International marketing (HL only)">4.7 International marketing (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23815/glossary-international-marketing-hl.html" title="Glossary: International Marketing (HL)">Glossary: International Marketing (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21773/48-e-commerce.html" title="4.8 E-commerce">4.8 E-commerce</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../23797/glossary-e-commerce.html" title="Glossary: E-commerce">Glossary: E-commerce</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21688/unit-5.html" title="Unit 5">Unit 5</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21937/51-the-role-of-operations-management.html" title="5.1 The role of operations management">5.1 The role of operations management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24843/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21938/52-production-methods.html" title="5.2 Production methods">5.2 Production methods</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24848/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21939/53-lean-production-quality-management-hl.html" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24839/glossary-lean-production-and-quality-management.html" title="Glossary: Lean Production and quality management">Glossary: Lean Production and quality management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21700/54-location.html" title="5.4 Location">5.4 Location</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24959/glossary.html" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21695/55-production-planning-hl.html" title="5.5 Production planning (HL)">5.5 Production planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25032/glossary-production-planning.html" title="Glossary: Production planning">Glossary: Production planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../33222/56-research-development-hl.html" title="5.6 Research & development (HL)">5.6 Research & development (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../34014/glossary-research-development.html" title="Glossary: Research & Development">Glossary: Research & Development</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21941/57-crisis-management-contingency-planning-hl.html" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25042/glossary.html" title="Glossary">Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../25115/cuegis.html" title="CUEGIS">CUEGIS</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The 6 CUEGIS concepts">The 6 CUEGIS concepts</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Ethics">Ethics</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../21954/mcdonalds-supersize-me.html" title="McDonald's - Supersize Me">McDonald's - Supersize Me</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The CUEGIS essay">The CUEGIS essay</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22876/planning-your-cuegis-essay.html" title="Planning your CUEGIS essay">Planning your CUEGIS essay</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../33806/paper-2-section-c-questions.html" title="Paper 2 Section C Questions">Paper 2 Section C Questions</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../33959/the-ia.html" title="The IA">The IA</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="HL IA">HL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22190/35-sample-research-questions-for-the-hl-ia.html" title="35 sample research questions for the HL IA">35 sample research questions for the HL IA</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22200/hl-ia-student-checklist.html" title="HL IA - Student Checklist">HL IA - Student Checklist</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../33508/ia-hl-poster.html" title="IA HL Poster">IA HL Poster</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="SL IA">SL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../22146/sl-ia-20-sample-titles.html" title="SL IA - 20 Sample Titles">SL IA - 20 Sample Titles</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38181/faq-about-the-sl-ia.html" title="FAQ about the SL IA">FAQ about the SL IA</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../22114/exams.html" title="Exams">Exams</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../22115/command-terms.html" title="Command Terms">Command Terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../36599/glossary-of-key-terms.html" title="Glossary of key terms">Glossary of key terms</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../38059/flashcards-revision.html" title="Flashcards - Revision">Flashcards - Revision</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38060/flashcards-revision-unit-1.html" title="Flashcards - Revision (Unit 1)">Flashcards - Revision (Unit 1)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38056/unit-11-revision-flashcards.html" title="Unit 1.1 Revision Flashcards">Unit 1.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38061/unit-12-revision-flashcards.html" title="Unit 1.2 Revision Flashcards">Unit 1.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38067/unit-13-revision-flashcards.html" title="Unit 1.3 Revision Flashcards">Unit 1.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38092/unit-14-revision-flashcards.html" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38096/unit-15-revision-flashcards.html" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38102/unit-16-revision-flashcards.html" title="Unit 1.6 Revision Flashcards">Unit 1.6 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38103/unit-17-revision-flashcards.html" title="Unit 1.7 Revision Flashcards">Unit 1.7 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38114/flashcards-revision-unit-2.html" title="Flashcards - Revision (Unit 2)">Flashcards - Revision (Unit 2)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38121/unit-21-revision-flashcards.html" title="Unit 2.1 Revision Flashcards">Unit 2.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38125/unit-22-revision-flashcards.html" title="Unit 2.2 Revision Flashcards">Unit 2.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38126/unit-23-revision-flashcards.html" title="Unit 2.3 Revision Flashcards">Unit 2.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38144/unit-24-revision-flashcards.html" title="Unit 2.4 Revision Flashcards">Unit 2.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38146/unit-25-revision-flashcards.html" title="Unit 2.5 Revision Flashcards">Unit 2.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38147/unit-26-revision-flashcards-hl-only.html" title="Unit 2.6 Revision Flashcards (HL only)">Unit 2.6 Revision Flashcards (HL only)</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38149/flashcards-revision-unit-3.html" title="Flashcards - Revision (Unit 3)">Flashcards - Revision (Unit 3)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38153/unit-31-revision-flashcards.html" title="Unit 3.1 Revision Flashcards">Unit 3.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38154/unit-32-revision-flashcards.html" title="Unit 3.2 Revision Flashcards">Unit 3.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38182/unit-33-revision-flashcards.html" title="Unit 3.3 Revision Flashcards">Unit 3.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38183/unit-34-revision-flashcards.html" title="Unit 3.4 Revision Flashcards">Unit 3.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38191/unit-35-revision-flashcards.html" title="Unit 3.5 Revision Flashcards">Unit 3.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38192/unit-36-revision-flashcards-hl.html" title="Unit 3.6 Revision Flashcards (HL)">Unit 3.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38193/unit-37-revision-flashcards.html" title="Unit 3.7 Revision Flashcards">Unit 3.7 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38194/unit-38-revision-flashcards.html" title="Unit 3.8 Revision Flashcards">Unit 3.8 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38195/unit-39-revision-flashcards.html" title="Unit 3.9 Revision Flashcards">Unit 3.9 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38196/flashcards-revision-unit-4.html" title="Flashcards - Revision (Unit 4)">Flashcards - Revision (Unit 4)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38198/unit-41-revision-flashcards.html" title="Unit 4.1 Revision Flashcards">Unit 4.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38203/unit-42-revision-flashcards.html" title="Unit 4.2 Revision Flashcards">Unit 4.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38217/unit-43-revision-flashcards.html" title="Unit 4.3 Revision Flashcards">Unit 4.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38218/unit-44-revision-flashcards.html" title="Unit 4.4 Revision Flashcards">Unit 4.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38219/unit-45a-product-revision-flashcards.html" title="Unit 4.5a Product Revision Flashcards">Unit 4.5a Product Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38220/unit-45b-price-revision-flashcards.html" title="Unit 4.5b Price Revision Flashcards">Unit 4.5b Price Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38221/unit-45c-promotion-revision-flashcards.html" title="Unit 4.5c Promotion Revision Flashcards">Unit 4.5c Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38222/unit-45d-promotion-revision-flashcards.html" title="Unit 4.5d Promotion Revision Flashcards">Unit 4.5d Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38223/unit-46-revision-flashcards-hl.html" title="Unit 4.6 Revision Flashcards (HL)">Unit 4.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38224/unit-47-revision-flashcards-hl.html" title="Unit 4.7 Revision Flashcards (HL)">Unit 4.7 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38225/unit-48-e-commerce-flashcards.html" title="Unit 4.8 E-commerce Flashcards">Unit 4.8 E-commerce Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../38232/flashcards-revision-unit-5.html" title="Flashcards - Revision (Unit 5)">Flashcards - Revision (Unit 5)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38233/unit-51-revision-flashcards.html" title="Unit 5.1 Revision Flashcards">Unit 5.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38234/unit-52-revision-flashcards.html" title="Unit 5.2 Revision Flashcards">Unit 5.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38235/unit-53-revision-flashcards-hl.html" title="Unit 5.3 Revision Flashcards (HL)">Unit 5.3 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38236/unit-54-revision-flashcards.html" title="Unit 5.4 Revision Flashcards">Unit 5.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38237/unit-55-revision-flashcards-hl.html" title="Unit 5.5 Revision Flashcards (HL)">Unit 5.5 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38238/unit-56-revision-flashcards-hl.html" title="Unit 5.6 Revision Flashcards (HL)">Unit 5.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../38239/unit-57-revision-flashcards-hl.html" title="Unit 5.7 Revision Flashcards (HL)">Unit 5.7 Revision Flashcards (HL)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../33830/formulae-quiz.html" title="Formulae Quiz">Formulae Quiz</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 1 Pre-release case study">Paper 1 Pre-release case study</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44969/n22-case-study-ele-plc.html" title="N22 Case Study (ELE PLC)">N22 Case Study (ELE PLC)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M22 (Peacewick Uni)">M22 (Peacewick Uni)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../44106/additional-exam-questions-paper-1.html" title="Additional exam questions (Paper 1)">Additional exam questions (Paper 1)</a></li></ul><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../32840/may-2020-p-s-trawlers.html" title="May 2020 (P&S Trawlers)">May 2020 (P&S Trawlers)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M23 Paper 1">M23 Paper 1</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="../47825/paper-1-svt-study-guide-shirin-karimi.html" title="Paper 1 SVT Study Guide (Shirin Karimi)">Paper 1 SVT Study Guide (Shirin Karimi)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../26095/exam-study-tips-resources.html" title="Exam & Study tips (resources)">Exam & Study tips (resources)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../31342/revision-exams-top-tips.html" title="Revision & Exams - Top tips">Revision & Exams - Top tips</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../47460/top-tips-for-m23-exams.html" title="Top Tips for M23 Exams">Top Tips for M23 Exams</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43522/unit-1-intro-to-bm.html" title="Unit 1 - Intro to BM">Unit 1 - Intro to BM</a></li><ul class="level-1 "><li class=" parent" 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><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399695.html" title="The nature of business">The nature of business</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399694.html" title="Primary, secondary, tertiary, & quaternary sectors">Primary, secondary, tertiary, & quaternary sectors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399693.html" title="Entrepreneurship">Entrepreneurship</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399692.html" title="Challenges & opportunities for starting a business">Challenges & opportunities for starting a business</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399691.html" title="1.1 True or False Quiz">1.1 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399690.html" title="1.1 Revision Flashcards">1.1 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399689.html" title="1.1 Glossary of key terms">1.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399681.html" title="1.2 Types of business entities">1.2 Types of business entities</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399688.html" title="Public & private sectors">Public & private sectors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399687.html" title="Types of for-profit organizations">Types of for-profit organizations</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399686.html" title="For-profit social enterprises">For-profit social enterprises</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399685.html" title="Non-profit social enterprises">Non-profit social enterprises</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399684.html" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399683.html" title="1.2 Revision Flashcards">1.2 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399682.html" title="1.2 Glossary of key terms">1.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44041/13-business-objectives.html" title="1.3 Business objectives">1.3 Business objectives</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399679.html" title="Vision and mission statements">Vision and mission statements</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399680.html" title="Common business objectives">Common business objectives</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399678.html" title="Strategic & tactical objectives">Strategic & tactical objectives</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399677.html" title="Corporate social responsibility">Corporate social responsibility</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399676.html" title="1.3 Revision Flashcards">1.3 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399674.html" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399675.html" title="1.3 Glossary of Key terms">1.3 Glossary of Key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44044/14-stakeholders.html" title="1.4 Stakeholders">1.4 Stakeholders</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399673.html" title="The interests of stakeholders">The interests of stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399672.html" title="Conflict between stakeholders">Conflict between stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399670.html" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399669.html" title="1.4 True or False">1.4 True or False</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399671.html" title="1.4 Glossary of Key terms">1.4 Glossary of Key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44045/15-growth-and-evolution.html" title="1.5 Growth and evolution">1.5 Growth and evolution</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44212/economies-diseconomies-of-scale-1.html" title="Economies & diseconomies of scale">Economies & diseconomies of scale</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44214/internal-and-external-growth-1.html" title="Internal and external growth">Internal and external growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44220/external-growth-methods-1.html" title="External growth methods">External growth methods</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44219/reasons-to-grow-or-stay-small-1.html" title="Reasons to grow or stay small">Reasons to grow or stay small</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45586/unit-15revision-flashcards-1.html" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45450/true-or-false-quiz-1.html" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43673/15-glossary-of-key-terms-1.html" title="1.5 Glossary of key terms">1.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44046/16-multinational-companies.html" title="1.6 Multinational companies">1.6 Multinational companies</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44236/the-impact-of-mncs-on-host-countries-ao3-1.html" title="The impact of MNCs on host countries (AO3)">The impact of MNCs on host countries (AO3)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44240/video-documentaries-mncs-1.html" title="Video documentaries - MNCs">Video documentaries - MNCs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45587/16-glossary-of-key-terms-1.html" title="1.6 Glossary of key terms">1.6 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../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=" parent" 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><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44296/terminology-for-understanding-organizational-structures-1.html" title="Terminology for understanding organizational structures">Terminology for understanding organizational structures</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44310/types-of-organization-charts-1.html" title="Types of organization charts">Types of organization charts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44323/appropriateness-of-organizational-structures-and-external-factor-1.html" title="Appropriateness of organizational structures and external factors">Appropriateness of organizational structures and external factors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44316/changes-in-organizational-structures-hl-1.html" title="Changes in organizational structures (HL)">Changes in organizational structures (HL)</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../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="../44343/scientific-intuitive-management-hl-1.html" title="Scientific & intuitive management (HL)">Scientific & intuitive management (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44339/management-and-leadership-1.html" title="Management and leadership">Management and leadership</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44340/leadership-styles-1.html" title="Leadership styles">Leadership styles</a></li><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="../44349/motivation-theories-sl-hl-1.html" title="Motivation theories (SL & HL)">Motivation theories (SL & HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44353/motivation-theories-hl-1.html" title="Motivation theories (HL)">Motivation theories (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44354/labour-turnover-hl-1.html" title="Labour turnover (HL)">Labour turnover (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44361/types-of-appraisal-hl-1.html" title="Types of appraisal (HL)">Types of appraisal (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44383/methods-of-recruitment-hl-1.html" title="Methods of recruitment (HL)">Methods of recruitment (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44382/internal-external-recruitment-hl-1.html" title="Internal & external recruitment (HL)">Internal & external recruitment (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44363/types-of-financial-rewards-1.html" title="Types of financial rewards">Types of financial rewards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44370/types-of-non-financial-rewards-1.html" title="Types of non-financial rewards">Types of non-financial rewards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44371/types-of-training.html" title="Types of training">Types of training</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44390/25-organizational-corporate-culture-hl.html" title="2.5 Organizational (corporate) culture (HL)">2.5 Organizational (corporate) culture (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44392/organizational-culture-hl-1.html" title="Organizational culture (HL)">Organizational culture (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44393/types-of-organizational-culture-hl-1.html" title="Types of organizational culture (HL)">Types of organizational culture (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44394/cultural-clashes-hl-1.html" title="Cultural clashes (HL)">Cultural clashes (HL)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../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=" parent" 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><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44487/types-of-costs-1.html" title="Types of costs">Types of costs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44491/total-revenue-revenue-streams-1.html" title="Total revenue & revenue streams">Total revenue & revenue streams</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45484/33-true-or-false-quiz-1.html" title="3.3 True or false quiz">3.3 True or false quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45657/33-glossary-of-key-terms-1.html" title="3.3 Glossary of key terms">3.3 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44492/34-final-accounts.html" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44527/the-purpose-of-accounts-to-different-stakeholders-1.html" title="The purpose of accounts to different stakeholders">The purpose of accounts to different stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44577/profit-loss-account-2.html" title="Profit & loss account">Profit & loss account</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44579/balance-sheets-1.html" title="Balance sheets">Balance sheets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44560/types-of-intangible-assets-1.html" title="Types of intangible assets">Types of intangible assets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44585/depreciation-hl-1.html" title="Depreciation (HL)">Depreciation (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45919/34-true-or-false-quiz-1.html" title="3.4 True or False Quiz">3.4 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45658/34-glossary-of-key-terms-1.html" title="3.4 Glossary of key terms">3.4 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44593/35-profitability-liquidity-ratio-analysis.html" title="3.5 Profitability & liquidity ratio analysis">3.5 Profitability & liquidity ratio analysis</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44595/profitability-ratios.html" title="Profitability ratios">Profitability ratios</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44626/liquidity-ratios-1.html" title="Liquidity ratios">Liquidity ratios</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45486/35-true-or-false-quiz-1.html" title="3.5 True or False Quiz">3.5 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45661/35-glossary-of-key-terms-1.html" title="3.5 Glossary of key terms">3.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../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><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44805/efficiency-ratios-hl-1.html" title="Efficiency ratios (HL)">Efficiency ratios (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44633/insolvency-versus-bankruptcy-1.html" title="Insolvency versus bankruptcy">Insolvency versus bankruptcy</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45488/36-true-or-false-quiz-1.html" title="3.6 True or False Quiz">3.6 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45662/36-glossary-of-key-terms-1.html" title="3.6 Glossary of key terms">3.6 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44493/37-cash-flow.html" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44502/the-difference-between-profit-cash-flow-1.html" title="The difference between profit & cash flow">The difference between profit & cash flow</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44506/working-capital-1.html" title="Working capital">Working capital</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44557/liquidity-position-1.html" title="Liquidity position">Liquidity position</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44558/cash-flow-forecasts-1.html" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44507/relationship-between-investment-profit-cash-flow-1.html" title="Relationship between investment, profit & cash flow">Relationship between investment, profit & cash flow</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44509/strategies-for-dealing-with-cash-flow-problems-1.html" title="Strategies for dealing with cash flow problems">Strategies for dealing with cash flow problems</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45493/37-true-or-false-1.html" title="3.7 True or False">3.7 True or False</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43687/37-glossary-of-key-terms-1.html" title="3.7 Glossary of key terms">3.7 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../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="../44516/payback-period-average-rate-of-return-1.html" title="Payback period & Average rate of return">Payback period & Average rate of return</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44519/net-present-value-npv-hl.html" title="Net present value (NPV) (HL)">Net present value (NPV) (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45494/38-true-or-false-quiz-1.html" title="3.8 True or False Quiz">3.8 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43693/38-glossary-of-key-terms-1.html" title="3.8 Glossary of key terms">3.8 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44564/39-budgets-hl.html" title="3.9 Budgets (HL)">3.9 Budgets (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44565/the-difference-between-cost-profit-centres-1.html" title="The difference between cost & profit centres">The difference between cost & profit centres</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44568/the-roles-of-cost-profit-centres-1.html" title="The roles of cost & profit centres">The roles of cost & profit centres</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44576/constructing-budgets-1.html" title="Constructing budgets">Constructing budgets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44569/variances-1.html" title="Variances">Variances</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44571/the-importance-of-budgets-variances-1.html" title="The importance of budgets & variances">The importance of budgets & variances</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45495/39-true-or-false-quiz-1.html" title="3.9 True or False Quiz">3.9 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43694/39-glossary-of-key-terms.html" title="3.9 Glossary of key terms">3.9 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43547/unit-4-marketing.html" title="Unit 4 - Marketing">Unit 4 - Marketing</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44637/41-introduction-to-marketing.html" title="4.1 Introduction to marketing">4.1 Introduction to marketing</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44638/market-orientation-vs-product-orientation-1.html" title="Market orientation vs Product orientation">Market orientation vs Product orientation</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44639/market-share-1.html" title="Market share">Market share</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44641/market-growth-1.html" title="Market growth">Market growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44642/importance-of-market-share-market-leadership-hl-1.html" title="Importance of market share & market leadership (HL)">Importance of market share & market leadership (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43695/41-glossary-of-key-terms-1.html" title="4.1 Glossary of key terms">4.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43823/42-marketing-planning.html" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44645/the-role-of-marketing-planning-1.html" title="The role of marketing planning">The role of marketing planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44654/segmentation-targeting-and-positioning-1.html" title="Segmentation, targeting, and positioning">Segmentation, targeting, and positioning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44646/difference-between-niche-mass-market-1.html" title="Difference between niche & mass market">Difference between niche & mass market</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43821/the-importance-of-having-a-usp-1.html" title="The importance of having a USP">The importance of having a USP</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44655/how-organizations-differentiate-themselves-1.html" title="How organizations differentiate themselves">How organizations differentiate themselves</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43834/42-vocab-quiz-1.html" title="4.2 Vocab Quiz">4.2 Vocab Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45528/42-true-or-false-quiz-1.html" title="4.2 True or False Quiz">4.2 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43696/42-glossary-of-key-terms-1.html" title="4.2 Glossary of key terms">4.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../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><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45530/43-true-or-false-quiz-1.html" title="4.3 True or False Quiz">4.3 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43711/43-glossary-of-key-terms-1.html" title="4.3 Glossary of key terms">4.3 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../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><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44692/methodstechniques-of-primary-market-research-1.html" title="Methods/techniques of primary market research">Methods/techniques of primary market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44693/methodstechniques-of-secondary-market-research-1.html" title="Methods/techniques of secondary market research">Methods/techniques of secondary market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44694/qualitative-quantitative-research-1.html" title="Qualitative & quantitative research">Qualitative & quantitative research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44695/methods-of-sampling-1.html" title="Methods of sampling">Methods of sampling</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45531/44-true-or-false-quiz-1.html" title="4.4 True or False Quiz">4.4 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43712/44-glossary-of-key-terms-1.html" title="4.4 Glossary of key terms">4.4 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../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=" parent" 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><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44741/the-product-life-cycle-1.html" title="The product life cycle">The product life cycle</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44745/extension-strategies-1.html" title="Extension strategies">Extension strategies</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44981/relationship-between-the-plc-investment-profit-cash-flow-1.html" title="Relationship between the PLC, investment, profit & cash flow">Relationship between the PLC, investment, profit & cash flow</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44748/aspects-of-branding.html" title="Aspects of branding">Aspects of branding</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44757/the-importance-of-branding-1.html" title="The importance of branding">The importance of branding</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../45766/starterplenary-activity-anagrams-quiz-brands-1.html" title="Starter/Plenary activity - Anagrams Quiz (Brands)">Starter/Plenary activity - Anagrams Quiz (Brands)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../45957/starterplenary-activity-whats-in-a-brand-name-1.html" title="Starter/Plenary activity - What's in a (brand) name?">Starter/Plenary activity - What's in a (brand) name?</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../43713/45-glossary-of-key-terms-product-1.html" title="4.5 Glossary of key terms (Product)">4.5 Glossary of key terms (Product)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../42547/452-price-1.html" title="4.5.2 Price">4.5.2 Price</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../43719/45-key-terms-price-1.html" title="4.5 Key Terms (Price)">4.5 Key Terms (Price)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44782/453-promotion.html" title="4.5.3 Promotion">4.5.3 Promotion</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44783/above-the-line-promotion-1.html" title="Above the line promotion">Above the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44795/below-the-line-promotion-1.html" title="Below the line promotion">Below the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44797/through-the-line-promotion-1.html" title="Through the line promotion">Through the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44801/social-media-marketing-1.html" title="Social media marketing">Social media marketing</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../43721/45-glossary-of-key-terms-1.html" title="4.5 Glossary of key terms">4.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44803/454-place-1.html" title="4.5.4 Place">4.5.4 Place</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44804/the-importance-of-different-distribution-channels-1.html" title="The importance of different distribution channels">The importance of different distribution channels</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../43722/45-glossary-of-key-terms-1.html" title="4.5 Glossary of key terms">4.5 Glossary of key terms</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44758/455-people-1.html" title="4.5.5 People">4.5.5 People</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44773/456-processes-1.html" title="4.5.6 Processes">4.5.6 Processes</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44774/457-physical-evidence-1.html" title="4.5.7 Physical evidence">4.5.7 Physical evidence</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44982/appropriate-marketing-mixes-1.html" title="Appropriate marketing mixes">Appropriate marketing mixes</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44697/46-international-marketing-hl.html" title="4.6 International marketing (HL)">4.6 International marketing (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44698/opportunities-threats-posed-by-entry-into-international-markets-1.html" title="Opportunities & threats posed by entry into international markets">Opportunities & threats posed by entry into international markets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45537/46-true-or-false-quiz-1.html" title="4.6 True or False Quiz">4.6 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45736/46-glossary-of-key-terms-1.html" title="4.6 Glossary of key terms">4.6 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../43565/unit-5-operations-mgt.html" title="Unit 5 - Operations Mgt">Unit 5 - Operations Mgt</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44817/51-introduction-to-operations-management.html" title="5.1 Introduction to operations management">5.1 Introduction to operations management</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44818/the-role-of-operations-management-1.html" title="The role of operations management">The role of operations management</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44812/52-operations-methods.html" title="5.2 Operations methods">5.2 Operations methods</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44815/operations-methods-1.html" title="Operations methods">Operations methods</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../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><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44864/features-of-lean-production.html" title="Features of lean production">Features of lean production</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44872/methods-of-lean-production.html" title="Methods of lean production">Methods of lean production</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44874/cradle-to-cradle-design-manufacturing.html" title="Cradle to cradle design & manufacturing">Cradle to cradle design & manufacturing</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44875/quality-control-quality-assurance.html" title="Quality control & quality assurance">Quality control & quality assurance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44876/methods-of-managing-quality.html" title="Methods of managing quality">Methods of managing quality</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44877/the-impact-of-lean-production-tqm.html" title="The impact of lean production & TQM">The impact of lean production & TQM</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44878/national-international-quality-standards.html" title="National & international quality standards">National & international quality standards</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44840/55-break-even-analysis.html" title="5.5 Break-even analysis">5.5 Break-even analysis</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44843/contribution.html" title="Contribution">Contribution</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44848/aspects-of-break-even-analysis.html" title="Aspects of break-even analysis">Aspects of break-even analysis</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44851/changes-in-price-and-costs.html" title="Changes in price and costs">Changes in price and costs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44852/limitations-of-break-even-analysis.html" title="Limitations of break-even analysis">Limitations of break-even analysis</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44890/56-production-planning-hl.html" title="5.6 Production planning (HL)">5.6 Production planning (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44902/the-local-global-supply-chain-process.html" title="The local & global supply chain process">The local & global supply chain process</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44922/the-difference-between-jit-jic.html" title="The difference between JIT & JIC">The difference between JIT & JIC</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44931/stock-control-charts.html" title="Stock control charts">Stock control charts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44970/capacity-utilization-rate.html" title="Capacity utilization rate">Capacity utilization rate</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45125/defect-rate.html" title="Defect rate">Defect rate</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43832/productivity.html" title="Productivity">Productivity</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45187/cost-to-buy-cost-to-make.html" title="Cost to buy & Cost to make">Cost to buy & Cost to make</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../46353/sinterklaas-putting-ctb-vs-ctm-into-practice.html" title="Sinterklaas - Putting CTB vs CTM into practice">Sinterklaas - Putting CTB vs CTM into practice</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../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><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45243/difference-between-crisis-management-contingency-planning.html" title="Difference between crisis management & contingency planning">Difference between crisis management & contingency planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45268/impact-of-contingency-planning.html" title="Impact of contingency planning">Impact of contingency planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45260/factors-that-affect-effective-crisis-management.html" title="Factors that affect effective crisis management">Factors that affect effective crisis management</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45554/57-true-or-false-quiz.html" title="5.7 True or False Quiz">5.7 True or False Quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45669/59-management-information-systems-hl.html" title="5.9 Management Information Systems (HL)">5.9 Management Information Systems (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../42633/data-analytics.html" title="Data analytics">Data analytics</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45861/database.html" title="Database">Database</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../44966/cybersecurity-and-cybercrime.html" title="Cybersecurity and cybercrime">Cybersecurity and cybercrime</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45859/critical-infrastructures.html" title="Critical infrastructures">Critical infrastructures</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../46175/virtual-reality.html" title="Virtual reality">Virtual reality</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45862/the-internet-of-things.html" title="The internet of things">The internet of things</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45858/artificial-intelligence.html" title="Artificial intelligence">Artificial intelligence</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../42634/big-data.html" title="Big data">Big data</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43392/customer-loyalty-programmes.html" title="Customer loyalty programmes">Customer loyalty programmes</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../43395/digital-taylorism.html" title="Digital Taylorism">Digital Taylorism</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45671/data-mining.html" title="Data mining">Data mining</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../45856/benefits-risks-ethical-implications-of-mis.html" title="Benefits, risks, & ethical implications of MIS">Benefits, risks, & ethical implications of MIS</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../42640/bmt-.html" title="BMT ">BMT </a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399696.html" title="BMT 1 - SWOT analysis">BMT 1 - SWOT analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399697.html" title="BMT 2 - Ansoff matrix">BMT 2 - Ansoff matrix</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44027/bmt-3-steeple-analysis.html" title="BMT 3 - STEEPLE analysis">BMT 3 - STEEPLE analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42577/bmt-4-boston-consulting-group-matrix.html" title="BMT 4 - Boston Consulting Group matrix">BMT 4 - Boston Consulting Group matrix</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42956/bmt-5-business-plans.html" title="BMT 5 - Business plans">BMT 5 - Business plans</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43606/bmt-6-decision-trees.html" title="BMT 6 - Decision trees">BMT 6 - Decision trees</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42362/bmt-7-descriptive-statistics.html" title="BMT 7 - Descriptive statistics">BMT 7 - Descriptive statistics</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42226/bmt-8-circular-business-models.html" title="BMT 8 - Circular Business Models">BMT 8 - Circular Business Models</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43605/bmt-9-gantt-chart-hl-only.html" title="BMT 9 - Gantt chart (HL only)">BMT 9 - Gantt chart (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42214/bmt-10-porters-generic-strategies-hl-only.html" title="BMT 10 - Porter's generic strategies (HL only)">BMT 10 - Porter's generic strategies (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42216/bmt-11-hofstedes-cultural-dimensions-hl-only.html" title="BMT 11 - Hofstede's cultural dimensions (HL only)">BMT 11 - Hofstede's cultural dimensions (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../../task/399698.html" title="BMT 12 - Force field analysis (HL only)">BMT 12 - Force field analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42375/bmt-13-critical-path-analysis-hl-only.html" title="BMT 13 - Critical path analysis (HL only)">BMT 13 - Critical path analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42344/bmt-14-contribution-hl-only-.html" title="BMT 14 - Contribution (HL only) ">BMT 14 - Contribution (HL only) </a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../42311/bmt-15-simple-linear-regression-hl-only.html" title="BMT 15 - Simple linear regression (HL only)">BMT 15 - Simple linear regression (HL only)</a></li></ul><li class="ancestor parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="../42758/concepts.html" title="Concepts">Concepts</a></li><ul class="level-1 expanded"><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43633/creativity.html" title="Creativity">Creativity</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43631/ethics.html" title="Ethics">Ethics</a></li><li class="current" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="sustainability.html" title="Sustainability">Sustainability</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43668/change.html" title="Change">Change</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../42836/ia-.html" title="IA ">IA </a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44415/formulating-suitable-ia-questions.html" title="Formulating suitable IA questions">Formulating suitable IA questions</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../47685/supporting-documents-for-the-ia.html" title="Supporting documents for the IA">Supporting documents for the IA</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../47840/top-tips-for-the-ia-primary-research.html" title="Top tips for the IA – Primary research">Top tips for the IA – Primary research</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../44047/50-sample-ia-research-questions-1.html" title="50+ Sample IA research questions">50+ Sample IA research questions</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../46719/recommended-format-for-the-ia.html" title="Recommended format for the IA">Recommended format for the IA</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../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="../44091/paper-1.html" title="Paper 1">Paper 1</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 2">Paper 2</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../46637/01-ikea.html" title="01 - IKEA">01 - IKEA</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../45839/quantitative-techniques.html" title="Quantitative techniques">Quantitative techniques</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../46025/abbreviations-quiz.html" title="Abbreviations Quiz">Abbreviations Quiz</a></li><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="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../34902/cas-bm.html" title="CAS & BM">CAS & BM</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21665/the-ee.html" 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="../21934/the-bm-extended-essay.html" title="The BM Extended Essay">The BM Extended Essay</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../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><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../37496/top-10-tips-for-the-bm-ee.html" title="Top 10 tips for the BM EE">Top 10 tips for the BM EE</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21930/70-top-bm-ee-research-questions.html" title="70 top BM EE Research Questions">70 top BM EE Research Questions</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../22196/tools-techniques-theories-for-the-ee.html" title="Tools, techniques & theories for the EE">Tools, techniques & theories for the EE</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../44048/the-triple-bottom-line.html" title="The triple bottom line">The triple bottom line</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21836/understanding-the-assessment-criteria.html" title="Understanding the assessment criteria">Understanding the assessment criteria</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../37960/reflections-and-engagement-in-the-ee.html" title="Reflections and engagement in the EE">Reflections and engagement in the EE</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../41874/the-mandatory-reflection-sessions.html" title="The mandatory reflection sessions">The mandatory reflection sessions</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../37659/top-10-tips-for-completing-the-rppf-1.html" title="Top 10 Tips for completing the RPPF">Top 10 Tips for completing the RPPF</a></li><li class="" style="padding-left: 28px"><i 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<div id="main-column" class="span9"> <article id="sustainability" style="margin-top: 16px;">
<h1 class="section-title">Sustainability</h1>
<ul class="breadcrumb"><li><a title="Home" href="../../../businessmanagement.html"><i class="fa fa-home"></i></a><span class="divider">/</span></li><li><span class="gray">Concepts</span><span class="divider">/</span></li><li><span class="active">Sustainability</span></li></ul>
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<div class="panel panel-purple"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;">The key concepts -</span> Sustainability</strong></p></div></div><div class="panel-body"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="266" src="../../../ib/businessmanagement/images/sustainability.jpg" width="224"></span></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>“We need to think of the future and the planet we are going to leave to our children and their children.”<br>- </em>Kofi Annan, Ghanaian diplomat (1938 - 2018)</span></span></p><p><span style="color:#696969;"><em>“If it can't be reduced, reused, repaired, rebuilt, refurbished, refinished, resold, recycled or composted, then it should be restricted, redesigned, or removed from production.”<br>- </em>Pete Seeger (1919 - 2014), American folk singer and social activist</span></p><hr class="hidden"><div><p><img alt="" height="216" src="../../../ib/businessmanagement/images/5-ops-mgt/landfill%2C-bangladesh.jpg" width="331"></p><p>According to the United Nations (UN), <strong>sustainability </strong>is about <em>"meeting the needs of the present without compromising the ability of future generations to meet their own needs" </em>(UN, 1987).</p><p>Sustainability can be enhanced by conserving resources or finding more efficient ways to produce or discover new resources. Business decisions should consider the triple bottom line (3BL) of people, planet, and profit and their resulting impacts in order to achieve their sustainability goals. Read more about the 3BL model in the section below.</p><h5><span style="font-family:arial,helvetica,sans-serif;">Why should schools focus on sustainability?</span></h5><p>At the heart of the new Business Management course, and one of the four aims of the course, is the question <em>"What understandings as change agents should business management students have?"</em></p><p>Sustainability as a key concept in business education is about encouraging young people to be change agents (or change makers) to create a better world for all generations to come. It is about embracing the challenges and taking the responsibility for protecting the planet and its people, and certainly not only the profits of large corporations. Our role as business management educators and students is to be inspired to shape and create a better future for all individuals and societies, forever.</p><p>In 2015, all member states of the United Nations (UN) adopted the <a href="https://sdgs.un.org/2030agenda">Transforming our world: The 2030 Agenda for Sustainable Development</a>, a plan of action to create a better world for people and the planet, creating international propsperity, peace, and partnerships, now and into the future. At the heart of this agenda are the 17 UN <strong>Sustainable Development Goals</strong> (SDGs) - see ATL Activity 4 below. The SDGs have the potential to eradicate poverty and inequalities, strengthen communities and societies, increase wellbeing, and stop climate change.</p><p>Hence, in a business management context, sustainability is about operating in ways that enable individuals and societies to meet their needs and desires now without compromising or jeopardizing the ability of future generations to meet their own needs and wants.</p><p>The SDGs also provide a framework for understanding and exploring economic and social development in sustainable ways. There is growing international recognition of <a href="https://www.unesco.org/en/education/sustainable-development">Education for Sustainable Development</a> (ESD), UNESCO's education programme for tackling the urgent and dramatic challenges the planet faces. The UN 's SDG and UNESCO's ESD are key components of a quality international education and are essential mechanisms for a sustainable future. In particular, the SDGs provide a clear overview of sustainable development principles and offer limitless opportunities for learning and action. For example, SDG 4 states the following goal:</p><p style="text-align: center;"><em>“By 2030, ensure that all learners acquire the knowledge and skills needed to promote sustainable development, including, among others, through education for sustainable development and sustainable lifestyles, human rights, gender equality, promotion of a culture of peace and non-violence, global citizenship and appreciation of cultural diversity and of culture’s contribution to sustainable development.”</em></p><p>The <a href="https://www.oecd.org/environment/business-models-for-the-circular-economy-g2g9dd62-en.htm">Organisation for Economic Cooperation and Development</a> (OECD) has advocated a move towards a circular economy. The OECD's five <a href="https://www.thinkib.net/businessmanagement/page/42226/bmt-8-circular-business-models" title="BMT » BMT 8 - Circular Business Models">circular business models</a> are part of the <a href="https://www.thinkib.net/businessmanagement/page/42640/bmt-" title="BMT ">Business Management Toolkit</a> (BMT) in the DP Business Management syllabus. Circular business models focus on exploring innovative new business models that allow organization to deal with the challenges of sustainability and to unlock new opportunities for business growth without jeopardising the future of their business operations. The OCED (2018) states that:</p><p><em> “Circular business models ... have the potential to drive the transition towards a more resource efficient and circular economy and, in doing so, significantly reduce the environmental pressure resulting from economic activity”.</em></p><hr class="hidden"><p><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> Watch this brief video featuring Sir David Attenborough, speaking at the COP 26 Summit in November 2021 about the challenge we all face and the urgent call to action for a sustainable future.</p><p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/dbK4SVKWhM4" title="YouTube video player" width="640"></iframe></p><p>Watch the full video of Sir David Attenborough's speech at COP 26 <a href="https://youtu.be/A6SO0xkr_uI">here</a>.</p><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(103, 7, 124);"> </span> ATL Activity 1 (Thinking skills) - What do you know about sustainability?</span></span></h5><p><span style="color:#696969;">This activity has been created by IB educator and experienced author <strong>Vivien Jack</strong>, who teaches in Cambodia. Many thanks for sharing this with us, Vivien!</span></p><p>Write down a word for as many letters of the alphabet as you can that is related to sustainability (in positive and/or negative ways). For example (but try not to use these in your own list):</p><ul class="branded"><li><p>P = People, Plant, Profit</p></li><li><p>Q = Quality of life</p></li><li><p>R = Reducing, Reusing, and Recycling</p></li><li><p>S = Sustainable Development Goals (SGDs)</p></li><li><p>T = Triple bottom line model</p></li><li><p>U = United Nations Environment Programme (UNEP)</p></li></ul><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="../../../thinkib/icons/teacher-only.svg"> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;">Possible answers</span></p><ol><li><p><span style="color:#FF0000;">Activism</span></p></li><li><p><span style="color:#FF0000;">Biodiversity, Biodegradable</span></p></li><li><p><span style="color:#FF0000;">Climate change crisis, Carbon footprint, Closed-loop / Circular economy, Conservation</span></p></li><li><p><span style="color:#FF0000;">Doing well by doing good, Deforestation</span></p></li><li><p><span style="color:#FF0000;">Ecology, Eco-Friendly, Energy-efficient, Energy conservation</span></p></li><li><p><span style="color:#FF0000;">Fair trade</span></p></li><li><p><span style="color:#FF0000;">Green, Generations (future), Greenwashing</span></p></li><li><p><span style="color:#FF0000;">Hydrogen</span></p></li><li><p><span style="color:#FF0000;">Investment</span></p></li><li><p><span style="color:#FF0000;">Job growth</span></p></li><li><p><span style="color:#FF0000;">Knowledge from indigenous heritage</span></p></li><li><p><span style="color:#FF0000;">Legislation, Light Emitting Diode (LED), Linear business models</span></p></li><li><p><span style="color:#FF0000;">Meteorology, Microplastics</span></p></li><li><p><span style="color:#FF0000;">Neutral net carbon emissions, Net Zero </span></p></li><li><p><span style="color:#FF0000;">Objectives, Opportunities</span></p></li><li><p><span style="color:#FF0000;">People, Planet, Profit, Possibilities</span></p></li><li><p><span style="color:#FF0000;">eQuality vs. eQuity</span></p></li><li><p><span style="color:#FF0000;">Responsibility, Rewilding</span></p></li><li><p><span style="color:#FF0000;">Stakeholders</span></p></li><li><p><span style="color:#FF0000;">Targets (for emissions)</span></p></li><li><p><span style="color:#FF0000;">UN COP26</span></p></li><li><p><span style="color:#FF0000;">Values</span></p></li><li><p><span style="color:#FF0000;">Water (rising sea levels)</span></p></li><li><p><span style="color:#FF0000;">eXtreme weather</span></p></li><li><p><span style="color:#FF0000;">Youth</span></p></li><li><p><span style="color:#FF0000;">Zero carbon emissions</span></p></li></ol><p><span style="color:#FF0000;">For more information about the meaning of some of these words, have a read of the Green Glossary <a href="https://www.bbpress.co.uk/news/the-green-glossary">here</a>.</span></p></div></section></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(167, 38, 38);"> </span> Theory of Knowledge (TOK)</span></span></h5><p><span lang="EN-HK" style="font-size:12.0pt;font-family:
"Arial",sans-serif;mso-fareast-font-family:PMingLiU;mso-ansi-language:EN-HK;
mso-fareast-language:ZH-TW;mso-bidi-language:AR-SA">Watch this short news clip about how e-waste (electronic waste such as old mobile phones and games consoles) is affecting people in parts of China. </span><span lang="EN-HK" style="font-size:12.0pt;font-family:"Arial",sans-serif;mso-fareast-font-family:
PMingLiU;mso-ansi-language:EN-HK;mso-fareast-language:ZH-TW;mso-bidi-language:
AR-SA">At the end of the video clip, discuss the following two questions:</span></p><ol><li><p><span lang="EN-HK" style="font-size:12.0pt;font-family:"Arial",sans-serif;mso-fareast-font-family:
PMingLiU;mso-ansi-language:EN-HK;mso-fareast-language:ZH-TW;mso-bidi-language:
AR-SA">Whilst e-waste management is a thriving business opportunity, what are the true social costs of economic growth and development?</span></p></li><li><p><span lang="EN-HK" style="font-size:12.0pt;font-family:"Arial",sans-serif;mso-fareast-font-family:
PMingLiU;mso-ansi-language:EN-HK;mso-fareast-language:ZH-TW;mso-bidi-language:
AR-SA">Does business activity ultimately cause unethical and unsustainable consequences to society?</span></p></li></ol><p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/OJtn5VOk1xI" title="YouTube video player" width="640"></iframe></p></div><div class="yellowBg"><h5><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(103, 7, 124);"> </span> <span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Case study 1 - Panasonic</span></span></h5><p>In 2014, Panasonic introduced a wage premium to expatriate workers in China. The Japanese electronics company became the world’s first company to introduce a higher pay scheme to compensate employees sent to China due to the country’s hazardous air pollution. According to the US embassy in Beijing, air pollution in the capital is more than 16 times the World Health Organization's (WHO) safety guideline.</p></div><div class="yellowBg"><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 (Research skills)</span></span></h5><p>Investigate the various methods that Lego uses sustainability in its business operations. <a href="https://www.lego.com/en-gb/sustainability">Lego's website</a> is a good starting point.</p><p>Be prepared to share your findings with the rest of the class.</p></div><div class="yellowBg"><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 3 (Research skills) - The Great Pacific Garbage Patch</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Read this short article titled <a href="https://oceanservice.noaa.gov/podcast/june14/mw126-garbagepatch.html">What is the Great Pacific Garbage Patch?</a> from the National Oceanic and Atmospheric Administration (NOAA) about the problems in the Great Pacific Garbage Patch.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Then watch this short, 7-and-a-half minutes YouTube video about plastic pollution in the Pacific Ocean, and answer the questions that follow. In particular, students should identify the sustainability issues that arise throughout the video.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/3RLrTCVmLCc" width="640"></iframe></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-question-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> <strong>Questions</strong></span></p><ol><li><p><span style="font-family:arial,helvetica,sans-serif;">Why is plastic pollution such a growing and worldwide problem?</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">What solutions are recommended in this short video?</span></p></li></ol><section><p><span style="font-family:arial,helvetica,sans-serif;">Encourage students to reflect on the contributions to plastic waste and ocean plastic pollution due to consumerism and corporate greed. Discuss, from an environmental sustainability angle, why plastic pollution is such a growing and worldwide problem. For example, why does it matter that there are an estimated 18,000,000,000,000 pieces of plastic waste in the Great Pacific Garbage Patch? And what are the social, ecological and economic consequences of having more ocean plastic waste (by weight) than fish in our oceans by the year 2050?</span></p><p><span style="font-family:arial,helvetica,sans-serif;">As an extension activity, get students to read this extended article from <a href="https://www.nationalgeographic.org/encyclopedia/great-pacific-garbage-patch/">National Geographic</a> about the Great Pacific Garbage Patch.</span></p></section><p><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-question-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Additional questions based on the above YouTube video:</span></p><p><span style="font-family:arial,helvetica,sans-serif;">3. What is the Pacific Trash Vortex and how many tonnes does it weigh?</span></p><p><span style="font-family:arial,helvetica,sans-serif;">4. Where is the Pacific Trash Vortex located?</span></p><p><span style="font-family:arial,helvetica,sans-serif;">5. How many garbage vortexes are there on the planet’s oceans and what are they known as?</span></p><p><span style="font-family:arial,helvetica,sans-serif;">6. How many kilometres does the Great Pacific Garbage Patch cover?</span></p><p><span style="font-family:arial,helvetica,sans-serif;">7. In 2019, how many tonnes worth of lost fishing nets were recovered from the vortex over a clean-up period of 25 days?</span></p><p><span style="font-family:arial,helvetica,sans-serif;">8. Who started (founded) the "Ocean Cleanup Project" and how old is he (at the time of the video)?</span></p><p><span style="font-family:arial,helvetica,sans-serif;">9. How much plastic waste could be removed from the oceans using Slat's flotation device, over a period of 5 years?</span></p><span style="font-family:arial,helvetica,sans-serif;">10. A study from the United Nations has predicted what will happen by the year 2050?</span><section><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="../../../thinkib/icons/teacher-only.svg"> Teacher only box</div><div class="content" readonly="false"><p><span style="font-family:arial,helvetica,sans-serif;">Additional questions based on the above YouTube video:</span></p><p><span style="font-family:arial,helvetica,sans-serif;">3. What is the Pacific Trash Vortex and how many tonnes does it weigh?</span></p><section><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">It is another name for the Green Pacific Garbage Patch, and weighs 87,000 tonnes.</span></span></p></section><hr><p><span style="font-family:arial,helvetica,sans-serif;">4. Where is the Pacific Trash Vortex located?</span></p><section><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">It is located in the Pacific Ocean; between California and Hawaii</span></span></p></section><hr><p><span style="font-family:arial,helvetica,sans-serif;">5. How many garbage vortexes are there on the planet’s oceans and what are they known as?</span></p><section><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">6; Gyres</span></span></p></section><hr><p><span style="font-family:arial,helvetica,sans-serif;">6. How many kilometres does the Great Pacific Garbage Patch cover?</span></p><section><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">1.6 million km!</span></span></p></section><hr><p><span style="font-family:arial,helvetica,sans-serif;">7. In 2019, how many tonnes worth of lost fishing nets were recovered from the vortex over a clean-up period of 25 days?</span></p><section><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">40 tonnes (or 1.6 tonnes of lost fishing nets per day during the clean-up period)</span></span></p></section><hr><p><span style="font-family:arial,helvetica,sans-serif;">8. Who started (founded) the "Ocean Cleanup Project" and how old is he (at the time of the video)?</span></p><section><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Boyan Slat; 24 years old</span></span></p></section><hr><p><span style="font-family:arial,helvetica,sans-serif;">9. How much plastic waste could be removed from the oceans using Slat's flotation device, over a period of 5 years?</span></p><section><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">50%</span></span></p></section><hr><p><span style="font-family:arial,helvetica,sans-serif;">10. A study from the United Nations has predicted what will happen by the year 2050?</span></p><section><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">There will be a greater volume of plastic waste than fish in our oceans (by weight), if nothing is done about the global problem.</span></span></p></section></div></section></section></div><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 4 (Research & Thinking skills) - The UNDP Sustainable Development Goals (SDGs)</span></span></h5><p><img alt="" height="315" src="../../../ib/businessmanagement/images/cesc-concepts/sdg.webp" width="510"></p><p>Source: <a href="https://www.un.org/sustainabledevelopment/">UNDP</a></p><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>Sustainable Development Goals </strong>(SDGs), part of the United Nations Development Programme (UNDP), were adopted by all UN Member States back in 2015 as a universal call to action to end world poverty, protect the planet, and ensure that all people across the globe enjoy peace and prosperity by 2030.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Read more about the United Nations Development Programme’s Sustainable Development Goals <a href="http://www.un.org/sustainabledevelopment/sustainable-development-goals">here</a> and <a href="http://www.un.org/sustainabledevelopment/blog/2015/12/sustainable-development-goals-kick-off-with-start-of-new-year/">here </a>(from the website of the United Nations), making links to aspects of social sustainability. <span style="font-family:arial,helvetica,sans-serif;">Present your findings as a timeline.</span></span></p><p><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> Students can also refer to this short video about the SDGs:</p><p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/5EW5vVCiXlQ" title="Sustainable Development Goals - Introduction" width="640"></iframe></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">A brief account...</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">American marine biologist and conservationist Rachel Carson’s <em>Silent Spring</em> (1962) suggested that economic prosperity through great consumption, expenditure and trade may have adverse effects on the natural environment.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">In 1968, several heads of states, diplomats, scientists, economists and UN bureaucrats founded the international group ‘The Club of Rome’. In 1972, this group published a report on the harmful impacts of economic growth and prosperity.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Following the Club of Rome's report, several academia from the Massachusetts Institute of Technology (MIT), <span style="color:#FF0000;">the private research university in Cambridge, Massachusetts, USA,</span> prepared a paper titled ‘Growth and its implication for the future’ (1975) for the United States Congress.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">In the late 1980s, the United Nations World Commission on Environment and Development (UNWCED) published its groundbreaking report ‘Our Common Future’ (1987), commonly referred to as the Brundtland Report.</span><span style="color:#FF0000;"> The report coined the term <em>sustainable development </em>as:</span></span></p><p style="margin-left:36.0pt;"><em><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">“development that meets the needs of the present wi</span><span style="color:#FF0000;">thout compromising the ability of future generations to meet their own needs."</span></span></em></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">In 1987, the Montreal Protocol, an international treaty, was adopted in order to protect the ozone layer by phasing out the production of numerous substances that scientists found to be responsible for depletion of the ozone layer. These substances include the use of Chlorofluorocarbons (CFCs) found in fast food packaging used by multinational companies including McDonald's and Burger King.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">In 1992, the UN Conference on Environment and Development (UNCED), also known as the Earth Summit, was held in Rio de Janeiro, Brazil. Agreements were reached on the Rio Declaration, a non-legally binding agreement on conservation and sustainable development of the forestry industry.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">The World Trade Organization (WTO) was formed in 1995, accounting for the vast majority of international trade agreements across the globe. Its protocols include consideration of the impacts of trade on the environment and sustainable development.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">In 1997, nations agree to the international pact on targets to reduce carbon emissions in the Kyoto Protocol. This international treaty, signed in Japan, extended the United Nations Framework Convention on Climate Change (UNFCCC) in 1992. The agreement commits signatory governments to reduce their greenhouse gas emissions in further attempts to protect the planet.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">The United Nations’ Millennium Development Goals (MDGs) are finalized in 2000.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">The United Nations Conference on Sustainable Development (UNCSD) holds its third international conference on sustainable development at the Earth Summit in 2012 (called Rio 2012), aimed at reconciling the economic and environmental goals of the global community. The United Nations’ Sustainable Development Goals are formed, replacing the UN's Millennium Development Goals.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">In 2015, the <strong>UN Sustainable Development Goals</strong> (SDGs), also known as the <strong>UN Global Goals</strong>, were adopted by all United Nations Member States. This is the most significant universal call to action for all member countries to end poverty, protect the planet and ensure that all people enjoy peace and prosperity by the year 2030.</span></span></p></section><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="../../../thinkib/icons/teacher-only.svg"> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;">Note to teachers:</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Students are not expected to learn all of the UN SDGs although being able to understand the overview and purpose of these goals can help them to better understand the concept of sustainability in IB Business Management. There are plenty of discussion points that can arise from this part of the syllabus, such as:</span></span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Why hotels around the world offer all-you-can-eat buffets</span></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Whether high-income nations can justify their overconsumption of goods and services</span></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Why the world's poorest people have minimal access to the planet's resources</span></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">The pro's and con's of China's previous one-child policy relative to other means to control population growth</span></span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">The costs and benefits of an ageing population.</span></span></p></li></ul></div></section></div><div class="yellowBg"><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 5 (Research and Thinking skills) - The future of fast fashion </span></span></h5><p>Fast fashion refers to low-priced but stylish clothing, from businesses such as Zara and H&M, that moves quickly in the supply chain process from design to retail stores. It involves businesses regularly launching new collections in order to meet changing consumer trends.</p><p>Watch this short video that outlines the future of fashion and answer the questions that follow. You may need to carry out additional research and refer to <a href="../42226/bmt-8-circular-business-models.html" title="New syllabus (first teaching 2022) » Business Management Toolkit (BMT) » BMT 8 - Circular business models">BMT 8 - Circular business models</a> prior to answering the questions.</p><ul><li><p>Explain how the fast fashion industry has been a major contributor to climate change and biodiversity loss.</p></li><li><p>Discuss how organizations in the fast fashion industry can use circular business models (CBM) to ensure the sustainability of their businesses.</p></li></ul><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/pRf0X3xETCc" title="The future of fashion: Sustainable brands and ‘circular’ business models" width="640"></iframe></div><div class="panel panel-has-footer" style="box-shadow: rgba(17, 0, 51, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-footer" style="background-color: rgb(247, 245, 250);"><div><div class="greenBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-question-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Did you know... June 24th is Upcycling Day?</span></span></h5><p><img alt="" height="171" src="../../../ib/businessmanagement/images/5-ops-mgt/upcycle.jpg" width="230"></p><p>Upcycling is a relatively new concept but certainly a growing trend. Although the term has been used since the 1990s, upcycling rose to prominence when it started trending in 2002. Upcycling is about taking old household objects, such as toys and furniture, and adding your own creativity and craft to make something new and of practical value. <strong>Upcycling Day</strong> on 24th June each years celebrates the art of upcycling and focuses on sustainable use of household goods, recycling items instead of being wasteful, and the many different ways we can reuse things that we might otherwise think are no longer useless.</p><p>The book <em>Cradle to Cradle: Remaking The Way We Make Things</em> by architect William McDonough and chemist Michael Braungart, released in 2002, brought upcycling into the modern language. Not only did the book include information and tips about upcycling, the book itself was upcycled from plastic materials and soy, which was used to form the ink.</p><p>Upcycling Day naturally arose as a way to bring attention to the craze and to encourage people to get involved in wasting less (throwing less away) and upcycling more. The art of upcycling is celebrated by those who are dedicated to finding sustainable ways of living and to save our planet as well as those who are artistically creative to find new ways to use the old things cluttering our homes and lives, avoiding more waste clogging our landfills.</p><hr class="hidden"><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 6 (Thinking and Communication skills) - The upcycling challenge</span></span></h5><p>All students - and teachers - should try to upcycle one item from home and bring this to school. Each participant should explain their upcycled product and the processes used to create this.</p><p>As a class, you can vote on the best upcycled product!</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">This ATL Activity also presents opportunities for collaboration with the Design Technology and/or Visual Arts departments if these exist in your school. Sustainability is a core theme (concept) in several subjects.</span></p></section></div></div></div></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-default panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p>Sustainability and the Triple Bottom Line</p></div></div><div class="panel-body"><div><p>Sustainability is one of the key concepts prescribed in the IB Business Management course. The triple bottom line (3BL) is a business management model that discusses three broad strategies for ecological, social, and economic sustainability. According to the United Nations (UN), sustainability is defined as <em>"meeting the needs of the present without compromising the ability of future generations to meet their own needs" </em>(UN, 1987).</p><p><span style="font-family:arial,helvetica,sans-serif;">In a business management context, the term <strong>sustainability</strong> refers to the ability of an organization or an economy to continue its business activities indefinitely. This means that its operations today do not jeopardise the opportunities for future generations. British author and entrepreneur John Elkington (1994) is a world-leading authority on corporate responsibility and sustainable development. Elkington coined the term the<strong> triple bottom line </strong>(or the three 3Ps of sustainability) to refer to the three pillars (aspects) of sustainability that businesses need to consider:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Social sustainability (People)</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Environmental sustainability (Planet), and</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Economic sustainability (Profit or Prosperity)</span></p></li></ul><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/sustainability-pillars.jpg" style="width: 300px; height: 229px;"></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>Elkington</em><em>’s</em><em> </em><em>pillars of sustainability</em></span></span></p><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;">Environmental sustainability (Planet)</span></h5><div class="panel-body"><p><em>"We have a finite environment - the planet. Anyone who thinks that you can have infinite growth in a finite environment is either a madman or an economist."</em><br>- Sir David Attenborough, British broadcaster, natural historian, and author</p><div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="124" src="../../../ib/businessmanagement/images/sustainability---resources.jpg" width="375"></span><span style="font-family:arial,helvetica,sans-serif;"><br><em><span style="color:#696969;">Overfishing and deforestation are ecologically unsustainable</span></em></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Environmental sustainability</strong> (or <strong>ecological sustainability</strong>) refers to sustainable use of the planet’s natural resources so that the current level of consumption does not jeopardise the resources available for future generations. Without ecological sustainability, business activity will eventually deplete the planet’s natural resources.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Examples of unsustainable business activities include overfishing and deforestation. At a more micro level, many retailer have implemented a policy of "opt-in receipts"</span> (where printed receipts are only given to customers <em>if </em>they request one - otherwise they can be emailed to customers instead).</p><p><span style="font-family:arial,helvetica,sans-serif;">Therefore, environmental sustainability requires the efficient and rational use of the earth’s resources. For example, many countries have introduced a charge (or tax) on the use of non-biodegradable plastic carrier bags. These countries include: Belgium, Denmark, England, France, Germany, Holland, Hong Kong, Ireland, Switzerland, and Wales. According to reusethisbag.com, Ireland reduced the use of plastic carrier bags by 90% (or over 1 billion bags) between 2001 and 2011 by imposing a per unit tax of $0.37. Some countries have banned the distribution of plastic carrier bags that are not made from biodegradable sources. These nations include: Bangladesh, Brazil, China, Italy, Mexico, Rwanda and Tasmania.</span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="187" src="../../../ib/businessmanagement/images/litter_2.jpg" width="313"> </span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>Many countries have taxes or bans on plastic bags</em></span></span></p><div class="greenBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(61, 30, 128);"> </span> Case Study 2 - Overfishing</span></span></h5><p><img alt="" src="../../../ib/businessmanagement/images/fishing.jpg" style="width: 320px; height: 186px;"></p><p><strong>Overfishing </strong>is the commercial practice of removing too many fish from their natural habitat such that the species<br>cannot replenish themselves in time. This can result in the fish stock becoming severely depleted or underpopulated, which endangers the species.</p><p>There is a global trend in overfishing, with some fishing businesses illegally overfishing. Overfishing creates a threat to sustainability and causes negative externalities of production (such as pollution caused by too many commercial trawlers operating in the oceans) and negative consumption externalities (such as the immense amount of food waste from over-consumption of seafood buffets).</p><hr class="hidden"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> ATL Activity 7 (Research skills)</span></span></h5><p>In small groups, research the problems of overfishing for the sustainability of businesses as a whole. Websites such as <a href="http://overfishing.org">http://overfishing.org</a> and <a href="http://ocean.nationalgeographic.com">http://ocean.nationalgeographic.com</a> will help.</p><p>Be prepared to present your findings to the rest of the class.</p></div><div class="greenBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Case Study 3 - Deforestation</span></span></h5><p><img alt="" height="188" src="../../../ib/businessmanagement/images/deforestation.jpg" width="328"></p><p>Brazil’s continual reduction of forest areas is harmful for the country’s long-term environmental sustainability, according to Canada's Natural Resources Canada (NRC). By contrast, Bhutan has continually increased its forest areas. The NRC states that the ratio of forest areas to the total land area of a country is a major indicator of environmental sustainability. The NRC also states that forestry helps to sustain ecological functions such as carbon storage, nutrient cycling, water and air purification, and maintenance of wildlife.</p><p><span style="color:#696969;">Source: www.nrcan.gc.ca</span></p><hr class="hidden"><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 8 (Thinking skills) - Why is the Amazon rainforest being destroyed?</span></span></h5><p><span>The Amazon rainforest <span>is known for its biodiversity</span>, but also for the growing problem of deforestation. As <span>the world’s largest tropical </span><span>rainforest with an area of <span class="Eq0J8 LrzXr kno-fv">5.5 million km²</span>, the Amazon rainforest </span>covers much of northwestern Brazil and extends into Colombia, Peru and other South American countries.</span></p><ol><li><p>Knowledge - List reasons why deforestation takes place.</p></li><li><p>Understanding - Write a short paragraph stating why deforestation is happening.</p></li><li><p>Application - Write a short paragraph describing the reasons for deforestation in a specific area you have studied. Include facts and figures in your response.</p></li><li><p>Analysis - What problems exist in the Amazon Basin that cause deforestation?</p></li><li><p>Evaluation - Are there any feasible solutions which may prevent deforestation? In your response, consider the reasons <em>why </em>businesses are involved in deforestation and think of some alternative, feasible and sustainable solutions to the issue.</p></li><li><p>Creation - What would happen if Brazil gave the Amerindians more rights to the land within which they live?</p></li></ol></div><div class="yellowBg"><h5><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(103, 7, 124);"> </span> <span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">ATL Activity 9 (Thinking skills) - The World Counts (climate change)</span></span></h5><p>Take a look at <a href="https://www.theworldcounts.com/challenges/climate-change/global-warming/average-global-temperature/story">The World Counts website</a> to see how the earth’s average temperature is continually rising. According to the website, if no action is taken to tackle the global problem of climate change, temperatures could increase by 5 degrees by 2100. Use the website to help answer the question below.</p><p>What are the economic implications of global temperatures rising by around 5 degrees within the next eight decades?</p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">According to the UNDP, climate change is the most defining issue of our time and the most significant challenge to sustainable development. The compounding effects of climate change are speeding up, leaving even less time for people, firms, and governments to act. Unprecedented changes in all aspects of society will be required to avoid the worst effects of climate change, bringing with it massive wildfires, hurricanes, droughts, floods, and other climate disasters across all continents.</span></p></section><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"></span></span></p></div><div class="yellowBg"><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 10 (Thinking skills) - The Coca-Cola Company</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Coca-Cola is the world’s most successful consumer drinks company. However, this also means the company is the planet’s largest plastic polluter. Read this <a href="https://www.bbc.co.uk/news/business-50175594">BBC article</a> about Coca-Cola’s impact on the environment, and answer the questions that follow.</span></p><hr class="hidden"><ol><li><span style="font-family:arial,helvetica,sans-serif;">Coca-Cola was once associated with “teaching the world to sing”. According to the author, what is it being increasingly associated with today?</span><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Plastic pollution and childhood obesity</span></span></p></section></li><li><span style="font-family:arial,helvetica,sans-serif;">Who is the global chief executive of the Coca-Cola Company?</span><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">James Quincey</span></span></p></section></li><li><span style="font-family:arial,helvetica,sans-serif;">How many plastic bottles does the Coca-Cola Company produce each year?</span><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Over 100 billion plastic bottles!</span></span></p></section></li><li><span style="font-family:arial,helvetica,sans-serif;">What does the company aim to achieve by 2030?</span><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">To recover every plastic bottle for every one the company sells, and to use 50% of this for new bottles (an example of cradle to cradle manufacturing)</span></span></p></section></li><li><span style="font-family:arial,helvetica,sans-serif;">What is Coca-Cola’s annual sales revenue?</span><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Over $40 billion (that equates to $109,589,041 in sales revenue every day of the year!)</span></span></p></section></li><li><span style="font-family:arial,helvetica,sans-serif;">What are the largest growth areas for the company?</span><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">Zero-sugar versions of Coca-Cola and the company’s water and juice drinks</span></span></p></section></li><li><span style="font-family:arial,helvetica,sans-serif;">When did the UK government introduce its sugar tax?</span><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">2016</span></span></p></section></li><li><span style="font-family:arial,helvetica,sans-serif;">If Coca-Cola reduced its use of plastics by 5%, how many plastic bottles would be avoided in the production process?</span><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;">500 million fewer bottles (which is the same as saving 1,369,863 plastic bottles per day of the year, or a staggering 57,077 plastic bottles each hour of the day, every day)</span></span></p></section></li></ol></div><p><span style="font-family:arial,helvetica,sans-serif;">In 2018, Coca-Cola used three million tonnes of plastic in its global operations. Coca-Cola sells more than 100 billion throw-away plastic bottles each year - that's more than 8.3 billion plastic bottles per month, 1.9bn per week, almost 274 million per day or more than 11.4 million single-use plastic bottles per hour! Across the planet, more of Coca-Cola's plastic packaging is found littered than any other brand. Since then, Coca-Cola has announced that the company will replace all plastic shrink wraps for its multipacks, and replace these with 100% recyclable cardboard. Read more about this initiative <a href="https://www-edie-net.cdn.ampproject.org/c/s/www.edie.net/amp-news/5/Coca-Cola-to-replace-plastic-shrink-wrap-with-paper-packaging-across-Europe/">here</a>.</span></p><div class="greenBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Case Study 4 - Marriott Hotels</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Read <a href="https://www.treehugger.com/plastic/amp/marriott-removing-plastic-straws-its-6500-hotels.html">this short article</a> about Marriott, the world’s largest hotel chain, removing plastic straws from its 6,500 hotels. This is an important move for the organization’s ecological sustainability as many of its hotels are on beachfront locations and other areas of natural beauty (where the plastics could plastic waste could easily make their way into the sea or into the natural environment.</span></p></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Case Study 5 - Prada</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Read <a href="https://robbreport-com.cdn.ampproject.org/c/s/robbreport.com/style/fashion/pradas-sustainable-re-nylon-bags-are-made-from-recycled-ocean-waste-2856553/amp/">this article</a> about luxury brand Prada’s “Re-Nylon” project, which aims to replace all of the company’s nylon products with recyclable ocean trash by the end of 2021. Whilst many luxury brands continue to use the finest leathers, silks and cashmeres from around the world, Prada’s efforts to invest in sustainable alternatives has led the business to use ocean plastics and fishing nets to make its bags. Prada’s Re-Nylon bags range from US$1,550 to $1,790.</span></p></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Case Study 6 - France bans waste foods</span></span></h5><p><img alt="" src="../../../ib/businessmanagement/images/supermarket-2.jpg" style="width: 320px; height: 173px;"></p><p>In 2016, France became the first country in the world to ban supermarkets from throwing away unsold food products, such as fresh bread, fruits, vegetables, eggs, fresh milk and other perishable goods. Instead, supermarkets are required to donate the food items to charities and food banks.</p></div><p><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(167, 38, 38);"> </span> This fantastic documentary titled <em>“A Plastic Ocean”</em> shows why sustainability is so important. The 2016 documentary is not available for free online, but watch the trailer here to get a glimpse of why ecological sustainability is vital to our own human survival:</span></p><p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/6zrn4-FfbXw" title="A Plastic Ocean Official Trailer" width="640"></iframe></p><p><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(167, 38, 38);"> </span> For the non-faint hearted, here is a short snippet of the documentary, that shows why so many birds are dying from the plastic pollution in our oceans, with one scene showing 234 pieces of plastic waste inside a dead bird:</span></p><p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/ju_2NuK5O-E" title="Plastic Ocean" width="640"></iframe></p><p><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(167, 38, 38);"> </span> But it is not all doom and gloom. Some organizations, such as Ecoalf, have embraced upcycling by using plastic waste from the oceans to create products such as clothes. Watch this short video that introduces the EcoAlf Foundation's Ocean Waste and Recycling Partnership.</p><p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/qZtblz0q1do" title="Kingspan and EcoAlf Foundation Ocean Waste and Recycling Partnership 2019" width="640"></iframe></p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Ecological sustainability strives to achieve economic goals of society without having to deplete more of the planet ́s natural resources. Upcycling the oceans is one way to achieve this aim. It involves organizations and volunteers to collect trash destroys the oceans and ecosystem, by turning plastic waste into top-quality yarn to produce fabrics and other products.<span style="color:#FF0000;"> Ecoalf has managed to create a new 100% recycled filament, called "UTO Yarn", which is made of the plastic bottles recovered from the bottom of the Mediterranean Sea.</span></span></p><p><span style="color:#FF0000;">Ecoalf's Upcycling the Oceans programme is an unprecedented worldwide project that aims to remove plastic waste from the bottom of the oceans, with the help of fishermen and other volunteers. </span><span style="color:#FF0000;">The revolutionary project's main goal is to recover the trash, mainly plastic waste, that is destroying the oceans in order to give the seas a second chance of life. Ecolaf's <span style="color:#FF0000;">Upcycling the Oceans project</span> started in September 2015 in the Mediterranean Coast of Levante (Spain), and has expanded throughout the Mediterranean and has also been replicated in Thailand.</span></p></section><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">In a business management context, <a href="../43565/unit-5-operations-management.html" title="New syllabus (first teaching 2022) » Unit 5 - Operations Management">operations management</a> has a significant role in ecological sustainability. For example:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../21939/53-lean-production-quality-management-hl.html" title="Unit 5 » 5.3 Lean production & quality management (HL)">Lean production and quality management</a> help to minimise the resources used to make goods and provide services</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../21939/53-lean-production-quality-management-hl.html" title="Unit 5 » 5.3 Lean production & quality management (HL)">Cradle-to-cradle (C2C)</a> design and manufacturing is used to reduce waste.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../21938/52-production-methods.html" title="Unit 5 » 5.2 Production methods">Production methods</a> that involve the use of green technologies, such as the use of renewable energy sources (solar, wind and geothermal power).</span></p></li></ul><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(61, 30, 128);"> </span> ATL Activity 11 (Research & Thinking skills) - The importance of green credentials</span></span></h5><p><img alt="" src="../../../ib/businessmanagement/carbon-footprint.jpg" style="width: 320px; height: 133px;"></p><p>Read <a href="https://www.phs.co.uk/about-phs/expertise-news/5-simple-ways-to-improve-your-businesss-green-credentials/">this interesting article</a> from phs about the importance of green credentials and how businesses can improve their green credentials.</p><p>Green credentials refers to the credibility of a business in terms of its ecological sustainability, which will also have a direct impact on its economic sustainability. For example, a business which actively engages with the three Rs (reduce, reuse, and recycle) is likely to have better green credentials than firms that do not. The three Rs is a simple framework that can be applied across the board to businesses of all sizes in all industries.</p><p>It is increasingly challenging for organizations to ignore business ethics, sustainability issues and considering the environmental impacts of their operations. Sustainability is of growing importance to customers and governments around the world.</p><p>Read the article above and consult any other resources to answer the two questions below:</p><ol><li><p>Why are green credentials important?</p></li><li><p>What are the main ways suggested in the article to help businesses to improve their green credentials?</p></li></ol><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Having green credentials is an increasingly important factor for all businesses. Having good green credentials helps a business to manage its brand / corporate reputation. Many businesses actively take steps to become more sustainable and ethical, which also helps to improve its market standing with customers and improves its economic sustainability (profitability).</span></p><p><span style="color:#FF0000;">The article suggests five "simple ways" to improve an organization's green credentials:</span></p><ol><li><p><span style="color:#FF0000;">Cutting back, i.e. reducing the use of resources, especially non-renewable resources.</span></p></li><li><p><span style="color:#FF0000;">Invest in resource-saving appliances, i.e. switching to modern, more energy-efficient appliances and devices / technologies.</span></p></li><li><p><span style="color:#FF0000;">Encourage green commuting, i.e. reducing the firm’s overall carbon footprint, such as by encouraging staff to think green when commuting (taking public transport, walking or cycling to work rather than driving).</span></p></li><li><p><span style="color:#FF0000;">Implement a recycling strategy, i.e. embedding a recycling culture in the workplace.</span></p></li><li><p><span style="color:#FF0000;">Get staff on board and involved in green credentials, sustainability and ecological sustainable practices.</span></p></li></ol><hr class="hidden"><p><span style="color:#FF0000;">As an extension task, students could also read</span> <a href="https://www.igniyte.co.uk/blog/important-green-credentials-reputation/">this aricle</a> <span style="color:#FF0000;">about the increasing importance of green credentials in the corporate world.</span></p></section></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-cogs fa-lg" style="color: rgb(61, 30, 128);"> </span> Theory of Knowledge (TOK) </span></span></h5><p>The idea of environmental sustainability suggests that people should avoid overconsuming or destroying resources today so as not to penalize opportunities for future generations. Is it possible to have knowledge of the future?</p></div><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;">Social sustainability (People)</span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/consumption.jpg" style="width: 280px; height: 187px;"></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>With more people, comes more consumption</em></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Social sustainability</strong> focuses on the extent to which an organization or economy can meet the needs of the current generation without jeopardising the needs of future generations. For example, population growth around the world results in greater levels of consumption and depletion of the earth’s natural resources. Social sustainability enables people of the current and future generations to enjoy a decent quality of life.</span></p><div class="yellowBg"><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(61, 30, 128);"> </span> ATL Activity 12 (Thinking skills) - Population trends</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Take a look at this website (Worldometers.com) with some fascinating live data, including the size of the world’s population, as well as the populations of the world’s 20 largest countries (by population size). Click <a href="http://www.worldometers.info/world-population/">here</a> to see the information on this website, which clearly points to the importance of social sustainability.</span></p></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(61, 30, 128);"> </span> Case Study 7 - Population milestones</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">8 billion: 2022 (November 2022)</span></p><p><span style="font-family:arial,helvetica,sans-serif;">7 billion: 2011</span></p><p><span style="font-family:arial,helvetica,sans-serif;">6 billion: 1999</span></p><p><span style="font-family:arial,helvetica,sans-serif;">5 billion: 1987</span></p><p><span style="font-family:arial,helvetica,sans-serif;">4 billion: 1974</span></p><p><span style="font-family:arial,helvetica,sans-serif;">3 billion: 1960</span></p><p><span style="font-family:arial,helvetica,sans-serif;">2 billion: 1930</span></p><p><span style="font-family:arial,helvetica,sans-serif;">1 billion: 1804</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#696969;">Source: </span><a href="http://www.worldometers.info/world-population/"><span style="color:#696969;">http://www.worldometers.info/world-population/</span></a></span></p></div><p><span style="font-family:arial,helvetica,sans-serif;">Social sustainability requires allocating resources in such a way to maximise the quality of life for people within a society. For example, by removing social barriers such as gender inequalities, human resources are allocated more efficiently in society. This results in women being provided equal opportunities in the workplace, and hence higher household incomes too.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">However, social barriers exist which prevent or limit social sustainability. Examples include absolute poverty, unemployment and social imbalances (such as racism, ageism, sexual discrimination, and gender inequalities). Elkington argues that businesses need to embrace social justices, especially the fair treatment of women in the workplace as this can result in many opportunities in terms of productivity gains, employee morale, and a more positive corporate image. In fact, gender equality is the fifth of the United Nations Development Programme (UNDP)’s <a href="http://www.un.org/sustainabledevelopment/sustainable-development-goals/">Sustainable Development Goals</a>. This means that gender equality, and the empowerment of women in particular, is vital to both economic and human development in the long term.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="173" src="../../../ib/businessmanagement/images/gender-equality.png" width="124"></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>Gender equality is vital to social sustainability</em></span></span></p><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;">Economic sustainability (Profitability or Prosperity)</span></h5></div></div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="196" src="../../../ib/businessmanagement/images/pollution.jpg" width="294"></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>Over-production can cause pollution and waste</em></span></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Economic sustainability</strong> is about using resources, both natural and manufactured, efficiently and responsibly. It is able encouraging businesses to focus their strategies on long-term rather than short-term profitability targets, and the long-term consequences of economic activities. This also has a direct impact on people’s jobs and careers in the future.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">A lack of economic sustainable business behaviour causes over-production and over-consumption in the short run. Increased populations across the world and higher per capita income have led to greater demand and consumption, making it increasingly difficult to maintain the output of goods and services to meet consumer needs and wants. However, the greater levels of production result in an inefficient allocation of resources, and creates a threat to economic sustainability. This is worsened if over-production and over-consumption results in more pollution and waste. Moreover, overuse of non-renewable resources means that businesses will struggle to operate efficiently in the long run, thus harming their long term profitability and threatening their survival.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(167, 38, 38);"> </span> Watch this short video clip about sustainable banana farming in Australia, asking students to consider the importance of 'best management practices (BMP)' in environmentally-sustainable farming:</span></p><p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/FFZnjI6wc6o" title="Environmentally-sustainable practices in Australian banana farming" width="640"></iframe></p><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="../../../thinkib/icons/teacher-only.svg"> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;">This video showcases how banana farmers in North Queensland, Australia are using environmentally-sustainable farming practices to reduce the impacts on local waterways and the Great Barrier Reef lagoon.</span></p><p><span style="color:#FF0000;">Possible benefits of best management practices (BMP) include:</span></p><ul class="branded"><li><p><span style="color:#FF0000;">long-term sustainability of farmland, despite the rain and storm season</span></p></li><li><p><span style="color:#FF0000;">long-term sustainability of the environment, including protection of the Great Barrier Reef lagoon area</span></p></li><li><p><span style="color:#FF0000;">Restoring riverbanks and soils lost due to tropical cyclones and other natural disasters</span></p></li><li><p><span style="color:#FF0000;">Restoration of natural habitats and ecosystems, including the return of natural wildlife such as ducks, eagles, other birds and even crocodiles.</span></p></li></ul></div></section><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(61, 30, 128);"> </span> Case Study 8 - IKEA's generous offer to buy back old furniture</span></span></h5><p><img alt="" src="../../../ib/businessmanagement/images/ikea.jpg" style="width: 320px; height: 195px;"></p><p><span style="color:#696969;"><em>An IKEA store in Kraków, Poland</em></span></p><p>In October 2020, IKEA announced that it would buy back unwanted furniture for up to half original price. IKEA, the world’s biggest furniture chain, said it would buy back unwanted furniture from customers and resell these as secondhand products in an attempt to become more environmentally friendly. On the surface of it, this was a great move in terms of the company's <a href="../22234/ethical-objectives-csr.html" title="Unit 1 » 1.3 Organizational objectives » Ethical objectives & CSR">ethical objectives and corporate social responsibility</a> (CSR), as well as its attempt to act in a more sustainable way. The Swedish company’s Buy Back initiative was launched in stores across the UK and Ireland on 27 November 2020 (the Black Friday discount day).</p><p>The scheme is also of direct benefit to IKEA, as customers taking advantage of this initiative receive vouchers to spend in store (i.e. not cash). The value of the returned / unwanted furniture is calculated according to the condition of the items returned. The returned items are put on sale in stores and anything that cannot be resold to customers is simply recycled.</p><p>The move by IKEA is an attempt to build a "circular business model" (<a href="../24081/features-of-cradle-to-cradle-design-manufacturing.html" title="Unit 5 » 5.3 Lean production & quality management (HL) » Features of cradle to cradle design & manufacturing">cradle to cradle design and manufacturing</a>) in which materials and products are reused or recycled. IKEA announced it was investing more than €3.2 billion ($3.76 billion) on sustainability measures in order to become carbon neutral within the next decade (by the end of 2030).</p><p>Read more about this story featured in <em>The Guardian </em>by clicking the link <a href="https://www.theguardian.com/business/2020/oct/13/ikea-buy-furniture-price-uk-ireland-black-friday">here</a>.</p></div><hr class="hidden"><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-file-text-o fa-lg" style="color: rgb(61, 30, 128);"> </span> Case Study 9 - Tourism, planet, people and profits</span></span></h5><p>With the growth in tourism across the world, many business opportunities are created. However, this creates potentially huge threats to the three pillars of sustainability. The case study refers to Venice, but could equally apply to other highly popular tourist destinations.</p><p><img alt="" src="../../../ib/businessmanagement/images/venice.jpg" style="width: 330px; height: 204px;"></p><p><span style="color:#696969;"><em>Rialto Bridge, Venice, in northeastern Italy</em></span></p><p>Venice, Italy is a popular city destination for tourists who come from all over the world for the well-preserved architecture (worthy of UNESCO World Heritage status), the waterways, canals, gondolas and bridges of the historic centre, the art culture evident in museums, palaces, the opera and churches.</p><p>Increased transport routes, low-cost airlines, cruise ship visits, and the growth of affordable accommodation options, like Airbnb, have helped to create many new business opportunities and increase tourism in Venice. However, its popularity has grown to the extent that it is widely recognised as suffering from <em>overtourism</em>. This means that there are too many tourists for Venice in order to sustain the area (with a population of around 262,000 people) without a worsening of conditions. Some 20 million people visit Venice each year, which averages out to around 54,800 visitors per day (although this easily reaches an estimated 100,000 visitors per day during the peak season). Furthermore, tourists concentrate in hotspot sites within the city, such as the Rialto Bridge and St. Mark’s Square resulting in extreme congestion.</p><hr class="hidden"><p><strong>Environmental consequences - the threat to ecological sustainability</strong></p><p>Litter, congestion and noise pollution are all obvious by-products of tens of thousands of tourists visiting Venice each day, especially in the historic centre of the city. Air and water pollution are also problems caused by the thousands of boats and water taxis used to ferry tourists around.</p><p><img alt="" height="182" src="../../../ib/businessmanagement/images/venice2.jpg" width="344"></p><p><span style="color:#696969;"><em>Water and noise pollution caused by boats in the canals</em></span></p><p>Cruise ships are also thought to increase erosion from their wake and alter the water channels due to their huge water displacement. These issues have caused what is known as Venice’s ‘sinking’ problem, which is related to subsidence as well as rising sea levels. Although this is not a direct result of tourism, the masses of tourists put additional and perhaps unsustainable stresses on the city’s infrastructure and services which are trying to cope with the subsidence and flooding.</p><hr class="hidden"><p><strong>Socio-economic consequences - threats to social and economic sustainability</strong></p><p>Local residents are used to living in a highly popular tourist destination and of course there will be numerous economic benefits from the tourism industry, including job opportunities and higher sales revenues from local and foreign tourists. However, the disadvantages include over-dependence on tourism, erosion of other local business and trades, higher prices (inflation), including increased property prices. Indeed, the local property market is now so distorted that there is a lack of affordable rental properties as landlords can earn more money from holiday rentals through Airbnb, for example. This has led to a declining local population, who have been pushed out of the city.</p><p>The decline in the quality of the tourism experience is another ‘self-inflicted’ consequence of overtourism in Venice. The views of the city's historic architecture, traditional cultural experiences and boat rides along the canals and waterways are in danger of being ruined by the very presence of the tourists themselves (in huge and growing numbers).</p><p>Ultimately, the idea of sustainable tourism is built on the basis of economic sustainability (profit), social sustainability (people) and ecological sustainability (planet) in the framework of a circular economy. Sustainable tourism requires such an approach so that the use of resources can be reduced, recycled and/or reused for further productive use in the industry. Essentially, a circular economy is based on the principles of the preservation and restoration of scarce resources so that once they are used they can be reused in the production process rather than being discarded as waste and/or generated as pollution.</p></div><div class="yellowBg"><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(61, 30, 128);"> </span> ATL Activity 13 (Thinking skills) - Video Review</span></span></h5><p><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(167, 38, 38);"> </span> Review your understanding of operations management strategies and practices for sustainability by watching this short video. Remember that the model is essentially about providing businesses with new perspective on the rationale for integrating practices for sustainability based on the three pillars of sustainability.</p><p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/2f5m-jBf81Q" title="Triple bottom line (3 pillars): sustainability in business" width="640"></iframe></p><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="../../../thinkib/icons/teacher-only.svg"> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;">The video transcript, which might be useful to share with students for their revision notes, is included below:</span></p><p><span style="color:#FF0000;">The triple bottom line (TBL or 3BL) is a concept that is used a lot when speaking about sustainable development, and particularly sustainability in business. John Elkington, a global authority on corporate responsibility and sustainability coined the phrase in a book in 1997. His argument was that the methods by which companies measure value should include not only a financial bottom line (profit or loss), but a social and environmental one as well. The concept has evolved into one that’s often described as three overlapping circles. You’ve probably seen this image before. Sustainability is typically defined as the place where economy, social realities and environmental health overlap.</span></p><p><span style="color:#FF0000;">The concept of the triple bottom line mainstreamed the idea of sustainability as including people, planet AND profit. It helped business to understand that long-term sustainability of an organization required more than just financial equity. It also helped to clarify that when businesses were considering what sustainability meant for them, it didn’t mean they had to give up the notion of financial success.</span></p><p><span style="color:#FF0000;">But this overlapping circles image of the triple bottom line can convey a lot more. The circles are all the same size. Does this indicate that the economy is the same relative size, or value, as the other two circles, which deal with society and the environment? Can we trade say “2 social and 3 environment for 5 economy” as long as we stay in the overlapping bit in the middle (sustainability)?</span></p><p><span style="color:#FF0000;">Science tells us that, left to its own devices, the planet operates in a balanced way. We call this the cycles of nature and they are powered by energy from the sun. Science also tells us that matter is not created or destroyed, while laws of thermodynamics tell us that everything tends towards dispersal (principle of entropy). Because plant cells are, for all intents and purposes, the only cells that can produce structure from energy, photosynthesis is the process by which matter is structured on our planet. This is why we say that photosynthesis pays the bills. Without it, creation of structure from energy would not occur, and entropy could rule the day.</span></p><p><span style="color:#FF0000;">How does this help us understand the triple bottom line?</span></p><p><span style="color:#FF0000;">Plant cells belong to the environment circle of the triple bottom line. If plant cells are the original creators of structure, then this is the circle on which everything else depends, or in which everything is embedded. Everything comes from nature at some point. Society, which is related to the social circle of the triple bottom line, exists within the environment. And economy is a by-product of society. Instead of three overlapping circles, we have three nested circles, where the economy is a wholly owned subsidiary of the environment.</span></p><p><span style="color:#FF0000;">To achieve sustainability, we need to comply with social and environmental conditions: meet human needs within ecological constraints. Does this mean that business has to put financial gain last? Of course not! But economic decisions are part of a strategy to make more money while getting closer to social and ecological sustainability. The economy is a means to an end. Not the end itself.</span></p></div></section><p>The triple bottom line model is also related to other aspects of the syllabus, including <a href="../../task/399680.html" title="New syllabus (first teaching 2022) » Unit 1 - Introduction to Business Management » 1.3 Business objectives » Common business objectives">ethical business objectives</a> and <a href="../../task/399677.html" title="New syllabus (first teaching 2022) » Unit 1 - Introduction to Business Management » 1.3 Business objectives » Corporate social responsibility">corporate social responsibility</a> (CSR).</p></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-default"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p>Key terms</p></div></div><div class="panel-body"><div><ul class="branded"><li><p><strong>Ecological sustainability</strong> (or <strong>environmental sustainability</strong>) refers to the responsibility of individuals and societies to conserve natural resources and protect the planet in order to support the social and economic wellbeing of the current and future generations.</p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Economic sustainability</strong> is about using resources, both natural and manufactured, efficiently and responsibly. It is able encouraging businesses to focus their strategies on long-term rather than short-term profitability targets, and the long-term consequences of economic activities.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Social sustainability</strong> focuses on the extent to which an organization or economy can meet the needs of the current generation without jeopardising the needs of future generations.</span></p></li><li><p><strong>Sustainability </strong>is about operating in ways that enable individuals and societies to meet their needs and desires now without compromising or jeopardizing the ability of future generations to meet their own needs and wants.</p></li><li><p>The <strong>triple bottom line</strong> refers to the three 3Ps of sustainability: Social sustainability (People), Ecological sustainability (Planet), and Economic sustainability (Profit).</p></li></ul></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-default panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p>Exam Practice Question</p></div></div><div class="panel-body"><div><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"> Exam Practice Question - Samsung</span></span></h5><p><img alt="" src="../../../ib/businessmanagement/images/4-marketing/samsung-smartphone.jpg" style="width: 300px; height: 168px;"></p><p>Samsung is a large multinational conglomerate company with operations across the world. It is also South Korea's largest company, accounting for around a fifth of the nation's total exports. It is one of the largest electronics manufacturers on the planet and the world’s largest producer of smartphones with shipments reaching 76.8 million units in the first quarter of 2021.</p><p>As a <strong>market leader</strong>, Samsung has been leading the way in sustainable development in the technology industry for many years. The company has introduced environmentally friendly products such as solar-powered computers as well as energy efficient home appliances. With so many smartphones and tablet devices being sold, <em>Samsung Recycle </em>was set up by the company to enable customers looking to upgrade and/or sell their old phones to trade in their devices online and get paid quickly.</p><table border="0" cellpadding="0" cellspacing="0"><tbody><tr><td style="width:38px;"><p>(a)</p></td><td style="width:510px;"><p>Define the term <em>market leader</em>.</p></td><td style="width:94px;"><p><em>[2 marks]</em></p></td></tr><tr><td style="width:38px;"><p>(b)</p></td><td style="width:510px;"><p>Outline what it means to be a sustainable business.</p></td><td style="width:94px;"><p><em>[2 marks]</em></p></td></tr><tr><td style="width:38px;"><p>(c)</p></td><td style="width:510px;"><p>Explain <strong>two</strong> reasons why Samsung might choose to operate in a sustainable way, despite the costs of doing so.</p></td><td style="width:94px;"><p><em>[4 marks]</em></p></td></tr><tr><td style="width:38px;"><p>(d)</p></td><td style="width:510px;"><p>Examine how Samsung might become a more sustainable organization.</p></td><td style="width:94px;"><p><em>[10 marks]</em></p></td></tr></tbody></table><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="../../../thinkib/icons/teacher-only.svg"> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;"><strong>Answers</strong></span></p><p><strong>(a) Define the term <em>market leader</em>. <em>[2 marks]</em></strong></p><p><span style="color:#FF0000;">A market leader is the firm with the greatest market share in a market or industry. As Samsung outsells its rivals in the smartphone manufacturing sector (i.e. it has the largest market share), the company is the industry's market leader.</span></p><p><span style="color:#FF0000;">Award<em> [1 mark]</em> for a response that shows some understanding of the term market leader.</span></p><p><span style="color:#FF0000;">Award<em> [2 marks]</em> for a response that shows a clear understanding of the term market leader, similar to the response above.</span></p><hr class="hidden"><p><strong>(b) Outline what it means to be a sustainable business. <em>[2 marks]</em></strong></p><p><span style="color:#FF0000;">A sustainable business is an organization, like Samsung, that can thrive and grow (via profits) whilst being ethical to the needs of society and environmentally friendly. These businesses have a positive overall impact on their stakeholders and their operations ensure the survival of the firms in the future, i.e. economic, social, and ecological sustainability.</span></p><p><span style="color:#FF0000;">Award<em> [1 mark]</em> for a response that shows some understanding of what is meant by a sustainable business.</span></p><p><span style="color:#FF0000;">Award<em> [2 marks]</em> for a response that shows a good understanding of what is meant by a sustainable business, making reference to ecological, social, and economic sustainability.</span></p><hr class="hidden"><p><strong>(c) Explain <u>two</u> reasons why Samsung might choose to operate in a sustainable way. <em>[4 marks]</em></strong></p><p><span style="color:#FF0000;">Despite the costs associated with striving for sustainability, some businesses choose to operate in a such a way because:</span></p><ul class="branded"><li><p><span style="color:#FF0000;">It is the ethical / morally correct thing to do - what is right for the environment and society / the community is also good for the business in the long run.</span></p></li><li><p><span style="color:#FF0000;">It can help to enhance the corporate image (reputation) of Samsung in a highly competitive industry.</span></p></li><li><p><span style="color:#FF0000;">It can help to improve the morale of Samsung employees, as well as satisfy the interests of other key stakeholder groups of the company.</span></p></li><li><p><span style="color:#FF0000;">Operations that minimize waste and pollution are beneficial to Samsung in the future, as higher environmental costs would also harm the company's profitability in the long run.</span></p></li><li><p><span style="color:#FF0000;"><em>Accept any other relevant reason that is explained in context.</em></span></p></li></ul><hr class="hidden"><p><strong>(d) Examine how Samsung might become a more sustainable organization. <em>[10 marks]</em></strong></p><p><span style="color:#FF0000;">Sustainable business activity is achieved through combining social, economic, and ecological considerations and practices in order to operate in a technically efficient and environmentally friendly way that ensures profitability for the owners.</span></p><p><span style="color:#FF0000;">Possible social considerations and practices of sustainability include:</span></p><ul class="branded"><li><p><span style="color:#FF0000;">Activities that generating less pollution and waste, such as the <em>Samsung Recycle </em>initiative.</span></p></li><li><p><span style="color:#FF0000;">Policies to promote greater gender equality in the workplace.</span></p></li><li><p><span style="color:#FF0000;">Fairer and more transparent operations with suppliers.</span></p></li><li><p><span style="color:#FF0000;">Contributing to local communities such as sponsoring local events, supporting local businesses, and working with local charitable organizations.</span></p></li><li><p><em><span style="color:#FF0000;">Accept any other relevant social factor written in the context of the case study.</span></em></p></li></ul><p><span style="color:#FF0000;">Possible economic considerations and practices of sustainability include:</span></p><ul class="branded"><li><p><span style="color:#FF0000;">Producing new products that are desirable to customers but created in a sustainable way that enable waste minimization and ease of recycling or upcycling.</span></p></li><li><p><span style="color:#FF0000;">Providing work opportunities to local people (not necessarily only in South Korea, as Samsung is a large multinational conglomerate company with operations across the world). This helps to reduce problems associated with unemployment.</span></p></li><li><p><span style="color:#FF0000;">Fair remuneration packages and employment benefits to all Samsung employees.</span></p></li><li><p><span style="color:#FF0000;">Establishing knowledge-sharing and training programmes for Samsung employees.</span></p></li><li><p><span style="color:#FF0000;"><em>Accept any other relevant economic factor written in the context of the case study.</em></span></p></li></ul><p><span style="color:#FF0000;">Possible ecological considerations and practices of sustainability include:</span></p><ul class="branded"><li><p><span style="color:#FF0000;">Use of energy efficient processes, such as Samsung's investments in solar energy programmes. Such practices also help to reduce greenhouse gas emissions caused by Samsung's manufacturing processes.</span></p></li><li><p><span style="color:#FF0000;">Business operations that conserve natural resources, forests, and habitats for endangered animals and plants</span></p></li><li><p><span style="color:#FF0000;">Implement efficient waste management systems in order to reduce pollution levels caused by Samsung's business activities, such as the use of recycling, reducing waste, and finding markets where waste from one area of the business can be used for other areas of the business.</span></p></li><li><p><span style="color:#FF0000;">Avoiding or reducing the use of plastic chemicals that produce toxic waste as well as non-biodegrable materials.</span></p></li><li><p><span style="color:#FF0000;">Reduce packaging that also contributes to waste. This can be achieved by using reduced materials that can be further reused, recycled, or upcycled.</span></p></li><li><p><span style="color:#FF0000;">Avoid unnecessary travel by promoting a culture of work from home (WFH) wherever possible, with the use of teleworking and homeworking technologies.</span></p></li><li><p><em><span style="color:#FF0000;">Accept any other relevant ecological factor written in the context of the case study.</span></em></p></li></ul><p><span style="color:#FF0000;">To achieve feasible sustainable practices, Samsung needs to integrate and weigh up the social, economic and ecological impacts of all of the company's diverse business operations.</span></p><p><span style="color:#FF0000;">Award <em>[1 - 2 marks] </em>for an answer that shows a limited understanding of the demands of the question.</span></p><p><span style="color:#FF0000;"><span style="color:#FF0000;">Award <em>[3 - 4 marks] </em>for an answer that shows a some understanding of the demands of the question, with an examination of at least one aspect of sustainability, although th<span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;">ere is limited </span></span></span></span>application of the case study material.</span></span></span></span></span></p><p><span style="color:#FF0000;"><span style="color:#FF0000;">Award <em>[5 - 6 marks] </em>for an answer that shows a some understanding of the demands of the question, with an examination of at least one aspect of sustainability. <span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;">There is some use of relevant business management terminology and some </span></span></span></span>application of the case study material.</span></span></span></span></span></p><p><span style="color:#FF0000;"><span style="color:#FF0000;"></span><span style="color:#FF0000;"><span style="color:#FF0000;">Award <em>[7 - 8 marks] </em>for an answer that shows understanding of the demands of the question, with an examination of at least two aspects of sustainability. <span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;">There is good use of business management terminology and good </span></span></span></span>application of the case study material.</span></span></span></p><p><span style="color:#FF0000;"><span style="color:#FF0000;"><span style="color:#FF0000;"></span></span><span style="color:#FF0000;"><span style="color:#FF0000;"></span><span style="color:#FF0000;"><span style="color:#FF0000;">Award <em>[9 - 10 marks] </em>for an answer that shows good understanding of the demands of the question, with an examination of all three aspects of sustainability (social, economic, and ecological). There is effective use of business management terminology throughout the response, and consistent application of the case study material.</span></span></span></span></p></div></section></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-default panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p>Integrating the key concepts with the syllabus</p></div></div><div class="panel-body"><div><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"> <span class="snippet-fa fa fa-leaf fa-lg" style="color: rgb(61, 30, 128);"> </span> Sustainability - Integrating the key concepts with the syllabus</span></span></h5><p>Examples of content from the IB Business Management syllabus that allows for the exploration of <strong>sustainability </strong>as one of the four key concepts include the following:</p><ul class="branded"><li><p>Unit 1.1 - How do entrepreneurs pursue sustainable business start-ups?</p></li><li><p>Unit 1.3 - To what extent is corporate social responsibility (CSR) sustainable for for-profit organizations in highly competitive markets?</p></li><li><p>Unit 1.3 - Using real-world examples, discuss how ethical business objectives contributes to business sustainability.</p></li><li><p>Unit 1.5 - How do businesses ensure that their chosen growth strategies are sustainable?</p></li><li><p>Unit 3.2 - Which source of finance is most sustainable? Justify your answer.</p></li><li><p>Unit 3.2 - Under what circumstances is loan capital considered to be sustainable?</p></li><li><p>Unit 3.4 - What might a firm's final accounts reveal about its sustainability?</p></li><li><p>Unit 4.2 - With reference to an organization of your choice, discuss how sustainability has influenced its marketing planning.</p></li><li><p>Unit 4.4 - Discuss the importance of market research for the sustainability of a business organization.</p></li><li><p>Unit 5.1 - With reference to an organization that you have studied, examine how sustainability has impacted on its operations management strategy.</p></li><li><p>Unit 5.2 - Under what conditions would mass customization be considered to be sustainable?</p></li><li><p>Unit 5.3 (HL only) - Explain how lean production methods can help to improve an organization's sustainability.</p></li><li><p>Unit 5.3 (HL only) - Explain the importance of cradle to cradle design and manufacturing in the context of sustainability.</p></li><li><p>Unit 5.7 (HL only) - Why is the concept of sustainability important in the context of crisis management and contingency planning?</p></li><li><p>Unit 5.8 (HL only) - Explain the relationship between research and development (R&D) and sustainability.</p></li><li><p>Unit 5.9 (HL only) - Why might customer loyalty programmes help to improve an organization's sustainability?</p></li><li><p>BMT 8 (Circular business models) - Aside from sustainability, which of the key concepts is most important to the study of circular business models - change, ethics, or creativity?</p></li></ul></div></div><div class="panel-footer"><div></div></div></div><p><span style="font-family:arial,helvetica,sans-serif;">Return to the <a href="../42758/the-4-key-concepts.html" title="New syllabus 2022 » The 4 key concepts">key concepts</a> homepage</span></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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