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relations (HL only)">2.6 Industrial/employee relations (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../25125/glossary-industrialemployee-relations.html" title="Glossary: Industrial/employee relations">Glossary: Industrial/employee relations</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../21670/unit-3.html" title="Unit 3">Unit 3</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="../21744/31-sources-of-finance.html" title="3.1 Sources of finance">3.1 Sources of finance</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="../24501/glossary-sources-of-finance.html" title="Glossary: Sources of finance">Glossary: Sources of finance</a></li></ul><li class=" 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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="ancestor parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="../43530/unit-2-hrm.html" title="Unit 2 - HRM">Unit 2 - HRM</a></li><ul class="level-1 expanded"><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../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="ancestor parent" style="padding-left: 14px"><i class="expander fa fa-caret-right fa-rotate-90"></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 expanded"><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="current" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="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=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="../42758/concepts.html" title="Concepts">Concepts</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../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="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="../43435/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 class="expander fa 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<div id="main-column" class="span9"> <article id="leadership-styles" style="margin-top: 16px;">
<h1 class="section-title">Leadership styles</h1>
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<span style="font-family:arial,helvetica,sans-serif;"></span><div class="panel panel-has-footer" style="box-shadow: rgba(17, 0, 51, 0.3) 0px 10px 30px -15px; border-color: rgb(61, 30, 128);"><div class="panel-heading" style="background-color: rgb(61, 30, 128);"><span style="font-family:arial,helvetica,sans-serif;"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a></span><div><p><strong><span style="font-family:arial,helvetica,sans-serif;">Leadership styles (AO3)</span></strong></p></div></div><div class="panel-body"><table><tbody><tr><td><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="177" src="../../../ib/businessmanagement/images/leadership.jpg" width="280"></span></td><td><p><em>"Good leadership requires you to surround yourself with people of diverse perspectives who can disagree with you without fear of retaliation."</em><br>- Doris Kearns Goodwin</p><p><em>"People will forget what you said, people will forget what you did, but people will never forget how you made them feel."</em><br>- Maya Angelou</p><p><em>"Leadership is about making others better as a result of your presence and making sure that impact lasts in your absence."</em><br>- Sheryl Sandberg</p></td></tr></tbody></table><p><span style="font-family:arial,helvetica,sans-serif;">The term <strong>leadership style</strong> refers to the way that managers and leaders provide direction for others. The way in which they do this has a direct impact on staff motivation, productivity and morale.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">The following five leadership styles are specified in the IB Business Management guide:</span></p><ol class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Autocratic</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Paternalistic</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Democratic</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Laissez-faire</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Situational</span></p></li></ol><p>Click on the relevant tabs below to access resources for this section of the syllabus.</p></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Autocratic leadership (AO3)</strong></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/military.jpg" style="width: 300px; height: 214px;"></span></p><p><span style="color:#696969;"><em>"If you want to make everyone happy, don't be a leader - sell ice cream."</em><br>- Steve Jobs (1955 - 2011), Co-founder of Apple</span></p><p><span style="font-family:arial,helvetica,sans-serif;">An <strong>autocratic leader</strong> is one who authoritative, so centralises decision-making without consulting others or listening to their points of view. Such a leader believes in formal chains of command, where consultation with subordinates in decision-making is non-existent. Autocrats rely on their own ideas, experiences and instincts when making decisions.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">It is suitable in situations where employees are unskilled, inexperienced, lack initiative and/or need to be told specifically what to do. Autocratic managers and leaders are often found in large production plants and factories where low-skilled workers need clear directions. An autocratic leadership style is also highly suitable when critical or life-threatening decisions need to be made, such as with the emergency services (police, fire and ambulance services) or in the military. <span style="font-family:arial,helvetica,sans-serif;">Autocratic leadership is common in the armed forces, such as the military, where everyone is required to do exactly as they are told.</span></span></p><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-check-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Advantages of autocratic leadership</span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Advantages of an autocratic leadership style include the following:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">It ensures the leader has complete control of the operations.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It speeds up the business decision-making process.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It provides workers with a clear sense of direction and clarity over their roles, as they understand exactly what is expected.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It is appropriate and effective when critical and urgent decisions need to be made.</span></p></li></ul><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-times-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Disadvantages of autocratic leadership</span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Disadvantages of using an autocratic leadership style include the following points:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Creativity and innovation are suppressed and discouraged as employees are not involved in the decision-making process.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Similarly, it does not develop internal talents of the workforce.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It can demotivate employees as their opinions are not valued.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It does nothing to build an intrapreneurial spirit in the workplace (building an organizational culture of future leaders within the organization).</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Ultimately, these disadvantages can result in a higher labour turnover rate, which is costly to any organization.</span></p></li></ul><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">Steve Jobs (Apple) and Ray Kroc (McDonald’s) were both known to be autocratic leaders. Hollywood movies about both entrepreneurs have been made about these men, showing their drive for success, and the way in which they handled people who dared to question their approach or vision. The movie trailers for both Steve Jobs and Ray Kroc can be viewed below.</span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> <strong>The Founder</strong> (2016), starring Michael Keaton as Ray Kroc:</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><iframe allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/AX2uz2XYkbo" width="640"></iframe></span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> <strong>Jobs </strong>(2013), starring Ashton Kutcher as Steve Jobs:</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><iframe allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/FrvkCS0ZGPU" width="640"></iframe></span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> <strong>Steve Jobs</strong> (2015), starring Michael Fassbender as Steve Jobs:</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><iframe allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/9XEh7arNSms" width="640"></iframe></span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">Click the icon below to read more about Steve Jobs and what shaped his approach to leadership.</span></p><section class="tib-hiddenbox"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Steve Jobs (1955 - 2011)</strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="219" src="../../../ib/businessmanagement/images/steve-jobs-2160725_1280.png" width="149"></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Following his death in October 2011, aged just 56, Steve Jobs was acknowledged by political and business leaders as an iconic entrepreneur who helped to transform the daily habits of millions of people across the globe. Steve Jobs will go down in history for being the visionary who reinvented computing, music and mobile phones during what he called the ‘post-PC era’. This short piece outlines the life, failures and successes of Steve Jobs, a man who truly loved what he did.</span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Steve Jobs – the man</strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Unlike many other billionaires, Steve Jobs was not born into a rich family. Before Steve Jobs was born, his biological mother’s unfortunate circumstances meant that he was already set for adoption. His biological parents (Joanne Carole Schieble and Abdulfattah Jandali, a Syrian immigrant) were unmarried undergraduate students at the University of Wisconsin. Born in San Francisco, Steve Jobs was adopted by Paul and Clara Jobs, a working-class couple from Armenia (near Turkey and Azerbaijan).</span></p><p><span style="font-family:arial,helvetica,sans-serif;">It wasn’t easy for Jobs, who spent much time at university sleeping on the floor in his friends’ rooms and collected used Coca-Cola bottles for $0.05. In his infamous commencement speech at Stanford University, California in 2005, Jobs told the students that he would walk 7 miles across town on Sunday nights to get a good meal, once a week.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Jobs did not graduate from university because his parents could hardly afford the tuition fees at Reed College, Oregon USA and Jobs had no idea at the time what he wanted to do as a career. Jobs took the risk of dropping out of university and whilst he described the decision as being daunting, he never looked back.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">After starting computer animation film studio, Pixar, Steve Jobs met Laurene Powell, who was at the time a business undergraduate at Stanford University. They married in 1991 in a Buddhist ceremony and had three children together (Eve, Erin and Reed). He also has another child, Lisa Brennan-Jobs, from a former relationship with Harvard graduate and journalist Chrisann Brennan (who was also his high school sweetheart). Jobs also has two sisters, Patti Jobs (his adoptive sister, also adopted by Clara and Paul Jobs) and Mona Simpson (his biological sister, who he described in 1997 as “one of my best friends in the world”).</span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Wealth and Health</strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Forbes magazine estimated the wealth of Steve Jobs to be over $8.3 billion. The <em>Mail Online</em> reported that Jobs drove a 2007 Mercedes Benz SL55 AMG, which he had bought new for around $130,000. He lived in a 1930s Tudor-style 5,700 square foot home with seven bedrooms and four bathrooms, estimated to be worth $2.6million according to CNBC. Little is reported about his philanthropy activities, but the New York Times did say that Jobs gave $150 million to a cancer centre at the University of California, San Francisco USA.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Despite his wealth and his aspirations to take on the likes of Android, Steve Jobs was diagnosed with a rare form of pancreatic cancer in 2003 and had a liver transplant in 2008. Struggling with severe illness for such a long time, Steve Jobs eventually resigned as the chief executive officer of Apple in August 2011.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">On the day of his death, China’s most popular microblog site, Sina Weibo, reported that 35 million people had posted comments about the death of Steve Jobs. According to internet monitoring agency SR7, there were around 10,000 tweets per second about the death of Steve Jobs (Michael Jackson’s death recorded 493 tweets per second).</span></p><div class="greenBg"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Box 1 - Steve Jobs' Milestones</strong></span></p><ul class="branded"><li><span style="font-family:arial,helvetica,sans-serif;">1955 – Born 24th February</span></li><li><span style="font-family:arial,helvetica,sans-serif;">1976 – Steve Jobs sets up Apple Computer with two friends on 1st April 1976</span></li><li><span style="font-family:arial,helvetica,sans-serif;">1979 – Steve Jobs has an estimated wealth of $7 million</span></li><li><span style="font-family:arial,helvetica,sans-serif;">1980 – Apple floats on the NASDAQ stock exchange at $22 per share; Jobs is estimated to be worth over $200 million</span></li><li><span style="font-family:arial,helvetica,sans-serif;">1984 – Apple launches the Macintosh personal computer</span></li><li><span style="font-family:arial,helvetica,sans-serif;">1985 – Steve Jobs is fired by Apple; he sets up NeXT</span></li><li><span style="font-family:arial,helvetica,sans-serif;">1986 – Jobs buys Pixar for $10 million</span></li><li><span style="font-family:arial,helvetica,sans-serif;">1995 – Pixar floats on the stock exchange; Jobs is worth $1.5bn</span></li><li><span style="font-family:arial,helvetica,sans-serif;">1996 – Apple buys NeXT from Steve Jobs (he returns to Apple)</span></li><li><span style="font-family:arial,helvetica,sans-serif;">1998 – Apple launches the iMac</span></li><li><span style="font-family:arial,helvetica,sans-serif;">2001 – Steve Jobs launches the iPod</span></li><li><span style="font-family:arial,helvetica,sans-serif;">2007 – Jobs launches the iPhone</span></li><li><span style="font-family:arial,helvetica,sans-serif;">2010 – Jobs launches the iPad</span></li><li><span style="font-family:arial,helvetica,sans-serif;">2010 – Apple is valued at over $221 billion, overtaking Microsoft based on market capitalization on May 26 (Microsoft was valued at $219 billion)</span></li><li><span style="font-family:arial,helvetica,sans-serif;">2011 – On August 9th, Apple becomes highest valued company on the planet with each share worth $364 (over 13,300% growth since its initial public offer back in 1980)</span></li><li><span style="font-family:arial,helvetica,sans-serif;">2011 – Jobs, worth of $8.3 billion, passes away on 5th October.</span></li></ul></div><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Apple – the early years</strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;">It was during his time at Homestead High School in California, where a 16 year old Steve Jobs met Steve Wozniak, a 21-year old technical wizard. The two became friends and later collaborated to form Apple Computer.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Jobs had worked as a technician at pioneer arcade games maker Atari whilst Wozniak had an engineering job. However, in April 1976, the two co-founded Apple Computer in Jobs’ parents’ garage in Silicon Valley. Jobs, aged just 20, had sold his Volkswagen van to fund the venture. They produced a circuit board designed by Wozniak and launched Apple’s first personal computer, the Apple I, which had a selling price of $666.66 (apparently because Wozniak, as a computing genius, liked repeating digits). The entrepreneurs had produced about 200 of these machines for sale. A year later, Apple launched the Apple II, the first massed produced Apple computer which came with a keyboard and colour monitor(!) By 1980, when Apple listed as a public company, Steve Jobs made an estimated US$217 million, aged just 25 years old.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Ronald Wayne was also a co-founder of Apple but sold his share of the company within a couple of weeks for (just) $2,300! It was Wayne who designed the original Apple logo with Sir Isaac Newton sitting under an apple tree. By the time Jobs turned 30, Apple had grown from its humbling operations in a garage into a $2 billion company with over 4,000 workers. This was when Jobs had designed, in his words, the “finest creation” - the Apple Macintosh computer.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Ironically, the same company that Jobs had set up also fired him. Jobs had persuaded John Sculley, previously CEO of PepsiCo, to join as chief executive of Apple in 1983. Eventually, tension between the two grew. The Board of Directors did not agree with the vision that Jobs had for Apple, so aged 30, he got fired from the company that he had help to co-found by the person he had hired to lead the company. Steve Wozniak also resigned in the same year. The strong-willed Jobs did not give up and said that “getting fired from Apple was the best thing that could have ever happened to me” as this freed him up to develop his own vision based on his creative and entrepreneurial talents.</span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>The middle years without Apple</strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;">It was this period of time when Steve Jobs started two other companies called NeXT in 1985 and Pixar in 1986. NeXT produced computers for higher education and businesses. One of the technicians at NeXT, Tim Berners-Lee, later went on to create the World Wide Web (the world’s first web server was made using a NeXT computer). The NeXT computers, with a price tag of $6,000 failed due to the high price.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">In 1986, Jobs bought The Graphics Group for $10 million, a division of Lucasfilm from George Lucas, the creator of the Stars Wars franchise. Jobs rebranded The Graphics Group as Pixar. Although Pixar struggled in its earlier years, with Jobs pouring in over $70 million into both NeXT and Pixar, the latter is internationally renowned for creating the world’s first computer animated feature film, <em>Toy Story</em> in 1995. Whilst <em>Toy Story</em> – with Jobs credited as the executive producer – took $30 million to make, it grossed almost $362 million at the box office worldwide - that's a return on investment (ROI) of over 1,206%!</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Pixar floated on the stock exchange within a week of the release of <em>Toy Story</em>, making Steve Jobs a billionaire in the process, and today Pixar is by far the world’s most successful animation studio. In 2006, The Walt Disney Company bought Pixar for a staggering $7.5 billion, giving Jobs 7% in the company thereby making him the largest single shareholder of the world’s biggest entertainment company.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">In a real twist to the remarkable story of Steve Jobs, in 1996 Apple – who had struggled without Jobs – bought NeXT for its software for the Mac computer, paying $377 million. This of course meant that Steve Jobs was suddenly back at Apple. A year later, Jobs – renowned as an autocratic leader – had orchestrated himself back into the position of chief executive officer of Apple.</span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Apple’s global reach</strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Having taken back the helm at Apple, Steve Jobs went on to build a technology giant worth $380 billion. The entrepreneurial genius had introduced a range of ‘cool’ gadgets that would revolutionise the way in which people accessed their music. In 2001, Jobs suggested to an audience that “To have your whole music library with you at all times is a quantum leap in listening to music” and then pulled out of his jean pockets the first iPod to show off to the world. In 2007, Jobs launched the iPhone, which – in his word –<em> ‘changes everything’</em>. No longer would people use a mobile phone just as a telephone but the iPhone would change the way in which people communicated and accessed information and entertainment. Fittingly, it was during this time that Apple Computer was rebranded as just Apple. In the summer of 2011, the valuation of Apple surpassed Exxon Mobil to become the world’s most valuable company, albeit only temporarily.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Apple’s largest store, in Covent Garden, London UK boasts 300 staff members – more than any other Apple Store in the world, with a huge three-storey square glass staircase. There is a virtual tour of the Apple Store <a href="http://www.electricpig.co.uk/2010/08/05/exclusive-first-video-tour-of-apple-store-covent-garden/">here</a>. The Fifth Avenue Apple Store has even become a tourist attraction.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Apple has a huge presence in Hong Kong. In fact, smartphones make up over 70 per cent of all phone sales in this tech-savvy city, with the iPhone 4 being the market leader. Apple’s flagship store in Hong Kong boasts an ideal location in the world famous International Finance Centre (although the rent is a staggering HK$11 million - US$1.42m - per month!) According to the Hong Kong Information Technology Federation, it was the iPhone 3GS, launched in 2009, that turned smartphones from a niche market product into a must-have product for the masses. Apple also opened its fifth store in China in October 2011 (there are currently two in Beijing and three in Shanghai), with an estimated 40,000 visitors each day. Apple’s latest smartphone, the powerful iPhone 4S, has raised questions about the existing 3G network in many countries, with analyst suggesting that a faster 4G platform might be needed. Just 11 years after its launch, Apple had sold over 2.2 billion iPhones, making it Apple's most successful product of all time.</span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Tributes for the visionary</strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;">On the day the media announced the death of Steve Jobs, political leaders and business leaders poured out their tributes for Jobs. US President Obama said that the world had lost a ‘<em>visionary</em>’. Bill Gates, America’s richest man and co-founder of Microsoft, said that it had been an “insanely great honour” to have worked with Jobs in the past. News media across the globe honoured Steve Jobs as an innovator and one of the world’s greatest entrepreneurs who changed the way so many people throughout the world communicate and access information and entertainment. <em>The Economist</em> said that Steve Jobs stood out in three ways: as a technologist “<em>obsessed with product design and aesthetics</em>”, as a corporate leader with strategic vision, and someone who had the ability to make people love gadgets that had previously been seen as impersonal functional devices. At the time of his death, Apple was the world’s most valuable technology company.</span></p><div class="yellowBg"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Box 2 – Visionary leaders</strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Psychologists Nir Halevy, Yair Berson and Adam Galinsky (2011) identified that visionary leaders inspire hope for the future and display the following traits:</span></p><ul><li><p><span style="font-family:arial,helvetica,sans-serif;">Charisma</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Stand out</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Take their organisations in a new direction</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Risk takers</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Strongly held views on what the organisation should do differently</span></p></li></ul><p><span style="font-family:arial,helvetica,sans-serif;">For many analysts, Steve Jobs met the above criteria perfectly.</span></p></div><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Conclusions</strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;">It was Steve Jobs who ensured that the Mac became the world’s first commercially successful personal computer. The iPod revolutionised the music industry and its iTunes platform was blamed by many for the demise of well-established music retailers such as HMV. The iPad created a huge market for tablet computers, thereby ensuring that the desktop computer reaches the decline stage in its product life cycle. The iPhone helped to completely change the core function of mobile phones. These so-called smartphones have added-value features such as the ability to play music, take digital photos, view maps, check emails, play online interactive games and countless other applications. Steve Jobs was a perfectionist in product innovation and marketing – he managed to persuade us to buy products that we would deem as necessities before we even knew we needed them.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Apple placed the following statement on its website following the death of its co-founder: “Steve’s brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives.” In essence, Apple had highlighted to its workforce – and fans throughout the world – three vital characteristics that made Steve Jobs such an unparalleled entrepreneur.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Steve Jobs was undoubtedly been a remarkable entrepreneur and changed the lives of hundreds of millions of people throughout the world. Business leaders, teachers and students can all take advice from Jobs who reminds us that “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.”</span></p><hr class="hidden"><p><span class="snippet-fa fa fa-book fa-lg" style="color: rgb(103, 7, 124);"> </span> Suggested reading:</p><p><a href="https://www.entrepreneur.com/article/357993?utm_source=pocket-newtab-global-en-GB">10 practical leadership lessons from Steve Jobs</a></p><p>If you have time, this full feature-length documentary about Steve Jobs is also worth watching. There is little doubt that Steve Jobs was one of the most innovative and influential entrepreneurs of recent times. Despite his humble beginnings, as an adopted child, Steve Jobs built the most valuable company and brand in the world and revolutionized several industries.</p><p><span class="snippet-fa fa fa-youtube fa-lg" style="color: rgb(202, 72, 26);"> </span> Watch this 66 minutes documentary to find out the story behind Steve Jobs' rise to global success, and the business philosophy left behind by one of the greatest corporate leaders of all time.</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/s4pVFLUlx8g" title="YouTube video player" width="640"></iframe></p></section></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;">Paternalistic leadership (AO3)</span></strong></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/paternalistic-leadership.jpg" style="width: 280px; height: 132px;"></span></p><p><span style="color:#696969;"><em>"The role of a leader is not to come up with all the great ideas. The role of the leader is to create an environment in which great ideas can happen."</em><br>- Simon Sinek (b.1973), British-American author</span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">This refers to a leadership style where the manager or leader makes decisions on behalf of his/her team in the belief that these are in the best interest of the workers. A <strong>paternalistic leader</strong> sees employees as family members, making decisions they believe are in the best interest of the workforce (or family).</span></p><p><span style="font-family:arial,helvetica,sans-serif;">The world ‘paternalistic’ comes from the word ‘paternal’, which itself is derived from the Latin word ‘<em>pater’</em>, meaning father. Unsurprisingly then, <span style="font-family:arial,helvetica,sans-serif;">paternalistic leadership is common in family-run businesses.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Such a leadership style has some commonality with an autocratic leadership style because there is a clear and dominant central person, who holds control of all decision-making power. Consultation may occur, but the leader makes the decisions, guiding and protecting the team. Paternalistic leaders usually see the workers as less capable and/or experienced than themselves.</span></p><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-check-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Advantages of paternalistic leadership</span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Advantages of a paternalistic leadership style include the following points:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">It can motivate staff as they feel guided and that their interests are protected</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It can ensure harmonious relationships at work as the leader genuinely values the staff</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It promotes loyalty to the leader and the organization</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It can create a sense of belonging, helping to meet workers’ safety and social needs (Maslow’s hierarchy of needs)</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Overall, these advantages are good for staff morale, motivation and productivity and hence beneficial to the organization (such as lower staff turnover and higher profitability).</span></p></li></ul><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-times-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Disadvantages of paternalistic leadership</span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Disadvantages of paternalistic leadership style include the following points:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Decision-making is still centralized, so workers can become dissatisfied if their views are ignored</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Communication is mainly top-down, from senior management</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Paternalistic leaders may not always make the best decisions, which can lead to conflict and disagreement.</span></p></li></ul><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-cogs fa-lg" style="color: rgb(103, 7, 124);"> </span> Theory of Knowledge (TOK)</span></span></h5><p><img alt="" height="119" src="../../../ib/businessmanagement/images/leadership-style.jpg" width="225"></p><p><span style="font-family:arial,helvetica,sans-serif;">To what extent does a leader or a parent always know what is ‘best’ for others in their care?</span></p><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Get students to consider examples of when parents are correct / right about things (there must be plenty of examples! Then get them to consider the list of examples of when their parents may have got things wrong, such as:</span></p><ul class="branded"><li><p><span style="color:#FF0000;">'knowing' what it is like being a teenager today, in the digital age of online learning and social media</span></p></li><li><p><span style="color:#FF0000;">knowing the best time for their children to go to sleep</span></p></li><li><p><span style="color:#FF0000;">knowing what's best in terms of their friendship groups</span></p></li><li><p><span style="color:#FF0000;">knowing what children should eat, such as their 'greens' (vegetables), or what they should wear(!)</span></p></li></ul><p><span style="color:#FF0000;">You are likely to get a longer list for the latter(!)</span></p><p><span style="color:#FF0000;">Finally, challenge students to consider on what basis their parents are making these knowledge claims, and how knowledge itself evolves over time.</span></p><p><span style="color:#FF0000;">Of course, parenting is not drastically different from management and leadership - so, is it always the case that people in positions of responsibility always 'know' what is best for the organization?</span></p></section></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;">Democratic leadership <span style="font-family:arial,helvetica,sans-serif;">(AO3)</span></span></strong></p></div></div><div class="panel-body"><div><p><em><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/democratic.jpg" style="width: 280px; height: 104px;"></span></em></p><p><span style="color:#696969;"><em>“Never doubt that a small group of thoughtful, concerned citizens can change the world. Indeed, it is the only thing that ever has.”</em><br>- Margaret Mead (1901 - 1978), American cultural anthropologist</span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">A <strong>democratic leader </strong>is one who is willing to delegate authority and consult subordinates in decision-making. This leadership style is characterised by inclusiveness, where all employees are encouraged to share their views and ideas in the decision-making process. The word ‘democratic’ comes from the Greek word ‘<em>dēmokratía</em>’, which means the “rule of the people” or “rule of the majority”.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Democratic leaders involve employees in the decision-making process because they are comfortable with trusting them to carry out their jobs. To such leaders, consultation and collaboration are important to the success of the organization.</span></p><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-check-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Advantages of democratic leadership </span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Advantages of a democratic leadership style include the following points:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Workers feel valued as they are actively encouraged to participate in the decision-making process.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Workers feel motivated as they are empowered.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">The most is made out of the skills, experiences and creativity of the employees.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Collaboration leads to higher morale and improved productivity.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">The organization takes advantage of the innovative potential of its employees.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Getting regular feedback and consulting employees also helps the organization to better understand their concerns.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">These advantages benefit the organization from higher levels of motivation and staff loyalty.</span></p></li></ul><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-times-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Disadvantages of a democratic leadership </span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Disadvantages of a democratic leadership style include the following points:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">It may result in disagreement and disharmony; it is not realistic to please everyone, all of the time.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It is ineffective when critical decisions need to be made quickly, and sometimes workers just need to do what they are told to get their jobs done.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It can be time consuming, especially if managers do not have the time to consult everyone, so decision-making is often delayed.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Hence, democratic decision-making can be costly.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">These disadvantages can cause negative impacts on the daily operations of the organization.</span></p></li></ul></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;">Laissez-faire leadership <span style="font-family:arial,helvetica,sans-serif;">(AO3)</span></span></strong></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="../../../ib/businessmanagement/images/laissez-faire.jpg" style="width: 280px; height: 224px;"></span></p><p><span style="color:#696969;"><em>“It’s okay to admit what you don’t know. It’s okay to ask for help. And it’s more than okay to listen to the people you lead - in fact, it’s essential.”</em><br>- Mary Barra (b. 1961), CEO of General Motors</span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">A <strong>laissez-faire </strong>leadership style is one where the leader delegates a significant amount of authority to subordinates and provides them with the freedom to carry out tasks in their own way, with minimal direction or supervision. Laissez-faire leaders gives workers the autonomy to make their own decisions on how best to accomplish organizational objectives. The term ‘<em>laissez-faire</em>’ is French for ‘let go’ or ‘let them do’ (let them be).</span><span style="font-family:arial,helvetica,sans-serif;"></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Laissez-faire leadership is the opposite of autocratic leadership, as the leader lets go of command and control, and totally empowers the workers to achieve the organization’s goals. Employees work without direct supervision as they have the power and authority to make independent decisions. However, this means that the success of laissez-faire leadership depends on the employees – their skills, talents, experiences, drive (motivation) and level of commitment.</span></p><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-check-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Advantages of laissez-faire leadership</span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Advantages of a laissez-faire leadership style include the following:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">A laissez-faire leadership style can be motivational as employees have freedom to carry out tasks in any effective way they wish.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It also encourages individuals to be creative, and thus helps the firm become more innovative.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It helps to develop an intrapreneurial culture (where workers take on an entrepreneurial role) in the organization, helping the business to gain competitive advantages.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It helps to build drive (Pink’s motivation theory) amongst employees because the l\der is places implicit trust in the workforce by giving them autonomy in decision-making.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Overall, the positive impacts of laissez-faire leadership help to achieve greater productivity, staff morale, lower labour turnover and higher profitability.</span></p></li></ul><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-times-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Disadvantages of laissez-faire leadership</span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Disadvantages of a laissez-faire leadership style include:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Monitoring and coordination of business operations are made more difficult and time-consuming, especially as there is an absence of managerial control.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Slack (complacency) can arise due to a very minimal level of supervision involved.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It does not suit all workers as they may want or prefer clear guidance and direction; having a large amount of freedom to make decisions can worry some workers.</span></p></li></ul></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;">Situational leadership <span style="font-family:arial,helvetica,sans-serif;">(AO3)</span></span></strong></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="111" src="../../../ib/businessmanagement/images/situational.jpg" width="299"></span></p><p><span style="color:#696969;"><em>"Your role as a leader is to bring out the best in others, even when they know more than you."</em><br>- Dr. Wanda Walla, Leadership coach and author</span></p><hr class="hidden"><p><span style="font-family:arial,helvetica,sans-serif;">A leader who is willing and able to change leadership style according to the circumstances being faced uses what is called a <strong>situational leadership </strong>style. Situational leadership, coined by by Paul Hersey and Kenneth H. Blanchard, involves the leader or manager adjusting their leadership style to fit the task, circumstance or situation that they find themselves in. For example, a naturally laissez-faire leader may need to switch to being autocratic or paternalistic during a crisis situation.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Sports coaches often use situational leadership during competitive games. They adjust their strategy and leadership style to match the circumstances and situation based on the team they happen to be competing against on the day. In competitive sports, as in the corporate world, there is no single best leadership style that works all of the time and in all situations. Hence, different styles are appropriate depending on the context or situation.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="225" src="../../../ib/businessmanagement/images/sports-match.jpg" width="315"></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>Sports coaches often use situational leadership</em></span></span></p><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-check-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Advantages of situational leadership</span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Advantages of a situational leadership style in business organizations include:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">It recognises that effective leaders have to be adaptive, rather than rigid in their leadership style</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Situational leadership is possibly the most practical of leadership styles as it applies to almost all business organizations</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">The dynamic nature of the external business environment means that leaders have to adjust their style to suit different situations and changes in the market.</span></p></li></ul><hr class="hidden"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-times-circle-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Disadvantages of situational leadership</span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Disadvantages of a situational leadership style include:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">If workers become used to a particular leadership style, they may become disheartened and unsettled if the leader or manager needs changes their style</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Most people have a preferred or natural leadership style, so changing or adopting a different style can be difficult and uncharacteristic for them.</span></p></li></ul><div class="blueBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-lightbulb-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Top tip!</span></span></h5><p><span style="color:#696969;"><em>"Good leadership requires you to surround yourself with people of diverse perspectives who can disagree with you without fear of retaliation."</em><br>- Dr. Doris Kearns Goodwin (b.1943), Historian, biographer, and author</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Remember that there is no single ‘best’ management or leadership style. Instead, there may be or a ‘most appropriate’ style, depending on situational factors such as the nature of the task, the skills and experience of the workforce and the organizational culture.</span></p></div><div class="blueBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-lightbulb-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Top tip!</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">One useful way to remember the factors that affect the choice of leadership style is the acronym <strong>TWICE</strong>:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>T</strong>ask - The style used will often depend on the nature of the task at hand, such as whether it is a routine or high-risk activity, or a whether it is a time-consuming and hence costly project</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>W</strong>orkers <span style="font-family:arial,helvetica,sans-serif;">- </span>The skills, qualifications, confidence, experience and abilities of the workforce determine the most suitable style of leadership to use</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>I</strong>ndividual <span style="font-family:arial,helvetica,sans-serif;">- </span>The individual leader will have his/her own personality and preferences, which determines their natural or favoured leadership style</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>C</strong>ulture <span style="font-family:arial,helvetica,sans-serif;">- </span>Organizational culture also determines the leadership style used, e.g. Google’s organizational culture means that leaders do not need to use an autocratic leadership style, but adopt a more laissez-faire style</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>E</strong>xperiences <span style="font-family:arial,helvetica,sans-serif;">- </span>Leaders will have gained experience in handling different situations and circumstances. This will therefore have an impact on how they lead in different situations.</span></p></li></ul></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>Does kindness hinder the effectiveness of a leader?</p><section class="tib-hiddenbox">You may find it useful to read this <a href="https://www.bbc.com/future/article/20221124-does-kindness-get-in-the-way-of-success?utm_source=pocket-newtab-global-en-GB">BBC article</a> titled "Does kindness get in the way of success?" before answering the above question, which refers to several well-known leaders including James Timpson (the CEO of Timpson, the key-cutting and shoe-repair chain based in the UK), Jacinda Ardern (the Prime Minister of New Zealand), and Gareth Southgate (one of most successful managers of the England men's football team.</section></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Leadership styles and key concepts</strong></p></div></div><div class="panel-body"><div><img alt="" src="../../../ib/businessmanagement/images/cesc-concepts/ethics2.jpg" style="width: 300px; height: 211px;"><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"> <span style="color:#FF0000;"><span class="snippet-fa fa fa-check-square-o fa-lg" style="color: rgb(61, 30, 128);"> </span> Key concept - Ethics</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="190" src="../../../ib/businessmanagement/images/ethics.png" width="190"></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>Ethical behaviour is about doing the right thing, even when no one is watching</em></span></span></p><p><em>“Being good is good business.”</em><br>- Dame Anita Roddick (1942 - 2007), Founder of The Body Shop</p><p><em>“Without ethical culture, there is no salvation for humanity.”</em><br>- Albert Einstein, theoretical physicist (1879 - 1955)</p><hr class="hidden"><p><a href="../43631/ethics.html" title="New syllabus 2022 » The 4 key concepts » Ethics">Ethics</a> are a growing part of business operations across the world. Ethical guidelines therefore set clear parameters for leaders and managers in business organizations. These guiding principles and restrictions are vast ranging, from the ethical treatment of workers, suppliers, customers and the natural environment. Ethical leadership can have a very positive impact on a business, such as a more productive and loyal workforce, even though it takes time and a lot of effort.</p><div class="box">Discuss the extent to which you agree with the views of Anita Roddick and Albert Einstein (see above quotes).</div></div><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"> <span style="color:#FF0000;">Key concept - Ethics</span></span></h5><p>What personal traits do managers need in order to be ethical knowers and decision makers?</p></div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><div><p><strong>Leadership styles and ATL Activities</strong></p></div></div><div class="panel-body"><div><img alt="" src="../../../ib/businessmanagement/images/2-hrm/leadership.jpg" style="width: 300px; height: 120px;"> <div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(61, 30, 128);"> </span><span style="color:#FF0000;"> ATL Activity 1 (Thinking skills) - Leadership quotes and their meanings</span></span></h5><p>Take a look at the World Economic Forum (WEF) website for a collection of “47 quotes on leadership worth repeating”. To read the article, click the link <a href="https://www.weforum.org/agenda/2015/11/47-quotes-on-leadership-worth-repeating/?utm_content=buffer6d218&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer">here</a>.</p><p>Having studied Unit 2.3 (Leadership and management), reflect on what you think the following ten quotes tell us about leadership and management:</p><div class="greyBg"><div><p><em>“Leadership is the art of getting someone else to do something you want done because he wants to do it.”</em><br><em>- </em>Dwight D Eisenhower, 34<sup>th</sup> President of the USA</p></div></div><div class="greyBg"><p><em>“Managers do things right. Leaders do the right thing.”</em><br>- Warren Bennis, leadership guru</p></div><div class="greyBg"><div><p><em>“A leader is like a shepherd. He stays behind the flock, letting the most nimble go on ahead, whereupon the others follow, not realising that all along they are being directed from behind</em>.”<br>- Nelson Mandela, former President of South Africa</p></div></div><div class="greyBg"><p><em>“Leadership is like the Abominable Snowman. You never see it, but you know by the footprints that it’s there.”</em><br>- Ann Richards, former Governor of Texas, USA</p></div><div class="greyBg"><div><p><em>“Being powerful is like being a lady. If you have to tell people you are, you aren’t.”</em><br>- Margaret Thatcher, former Prime Minister of the UK</p></div></div><div class="greyBg"><p>“<em>A leader is a person you will follow to a place you wouldn’t go by yourself.</em>”<br>- Joel A Barker, business management guru</p></div><div class="greyBg"><div><p><em>“The key to successful leadership today is influence, not authority.”<br>- </em>Kenneth Blanchard, business management guru</p></div></div><div class="greyBg"><div><p><em>“Leadership is action, not position.</em>”<br>- Donald Mcgannon, former television and broadcasting executive</p></div></div><div class="greyBg"><p><em>"Leadership is all about people. It is not about organizations. It is not about strategies. It is all about people motivating people to get the job done. You have to be people-centred."<br>- </em>Colin Powell, former US Secretary of State</p></div><div class="greyBg"><p><em>“Management is about arranging and telling. Leadership is about nurturing and enhancing.”</em><br>- Tom Peters, business management guru</p></div></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 2 - Video recap</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Recap your understanding of leadership styles by watching this excellent 10-minute video titled <em>“What is leadership?”</em></span><br><br><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/pYKH2uSax8U" title="What is leadership? - With David Marquet" width="640"></iframe></p></div><div class="greenBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-linode fa-lg" style="color: rgb(103, 7, 124);"> </span> ATL Activity 3 (Research and Self-management skills) - Extension reading activities</span></span></h5><ul class="branded"><li><p><a href="https://www.entrepreneur.com/article/358522">3 Ways Great Leaders Have Evolved After COVID-19</a></p></li><li><p><a href="https://www.entrepreneur.com/article/357749">Important Soft Skills and Leadership Practices for Navigating the Virtual Workplace</a></p></li><li><p><a href="https://www.entrepreneur.com/article/269744">The 12 Most Important Things I've Learned About Leadership</a></p></li><li><p><a href="https://www.entrepreneur.com/article/238747">10 Awesome Tips for Being a Better Leader</a></p></li><li><p><a href="https://www.entrepreneur.com/article/226265">5 Ways to Train Yourself to Be a Great Leader</a></p></li></ul></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Vocabulary Quiz - Leadership styles</strong></p></div></div><div class="panel-body"><div><p>Identify the correct management or leadership style (key term) from the definitions given below.</p><table><tbody><tr><td><strong>No.</strong></td><td><strong>Definition</strong></td><td><strong>Key term</strong></td></tr><tr><td>1.</td><td>Refers to a manager or leader who sees subordinates as family members, thereby guiding and protecting them when decisions are made.</td><td><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Paternalistic</span></p></section></td></tr><tr><td>2.</td><td>Refers to a manager or leader who is comfortable with, and used to, delegating authority to subordinates.</td><td><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Laissez-faire</span></p></section></td></tr><tr><td>3.</td><td>Refers to a manager or leader who does not consult subordinates in the decision making process.</td><td><section class="tib-hiddenbox"><span style="color:#FF0000;">Autocratic</span></section></td></tr><tr><td>4.</td><td>Refers to a manager or leader who is willing and able to delegate authority as well as consult subordinates in the decision-making process.</td><td><section class="tib-hiddenbox"><span style="color:#FF0000;">Democratic</span></section></td></tr><tr><td>5.</td><td>Refers to a manager or leader who is both willing and able to change and adapt according to different circumstances and scenarios.</td><td><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Situational</span></p></section></td></tr></tbody></table></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Leadership styles Crossword</strong></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-pencil-square-o fa-lg" style="color: rgb(61, 30, 128);"> </span> Key terms crossword</span></span></h5><p>Identify the key terms from the definitions given in the crossword. Download the PDF copy to use with your students.</p><div readonly="true" style="background: #ddd; margin: 20px 0; width: 100%;"><iframe frameborder="0" scrolling="no" src="../../../media/ib/businessmanagement/files/2-hrm/2.3-management-crossword-(inthinking).pdf.html" style="width: 100%; height: 480px;"></iframe></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-purple panel-expandable"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Exam Practice Question</strong></p></div></div><div class="panel-body"><div><h5><span class="snippet-fa fa fa-pencil-square-o fa-lg" style="color: rgb(61, 30, 128);"> </span> <span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Exam Practice Question - Human Resource Management at Mount Beacon School<em> </em>(MBS)</span></span></h5><p><img alt="" src="../../../ib/businessmanagement/images/schools.jpg" style="width: 300px; height: 159px;"><br> <br>Mount Beacon School<em> (MBS)</em> is a private fee-paying school for boys aged 11 - 18. Students are admitted based on their academic ability in a Mathematics, English, and Science entrance exam. There are 800 students in the school and a total of 110 teachers and 95 non-teaching staff. The school achieves outstanding examination results and was described in a recent external school inspection report as <em>“an exemplary school that offers a wide and challenging curriculum for all students”.</em></p><p>Although teachers at <em>MBS </em>earn a salary that is significantly above the national average for the profession, a total of eighteen teachers resigned for various reasons this academic year (such as for external promotions or taking a career break from the teaching profession). One of the positions to be filled is the Head of Individuals and Societies Department. Andy Hay, the current post holder, is retiring after being at <em>MBS </em>for over 15 years.</p><p>As an <strong>autocratic leader</strong>, Andy Hay believes in centralized decision making and fails to put faith in the talents of member of his team, especially as those of them are still relatively new to the teaching profession. The senior leadership team (SLT) knows this, given that Andy has said to the Principal in person that none of the other four members of his department are ready to be Head of Department (even though they have over 15 years of teaching experience between them at the school). Instead, Andy has suggested to the Principal that the school recruits his successor from the pool of external candidates.</p><p>In recent years, Andy’s own management style has caused conflict within his own department and with the SLT. He is known to be outspoken and extroverted. Even members of staff outside his Department have complained to the SLT about his poor interpersonal skills. The Departmental staff members are dedicated to the school, mainly because of the excellent quality of teaching and learning at the school, so they have tended to put up with the management style adopted by their <strong>line manager</strong>.</p><p>Nevertheless, all members of the SLT are sad to see Andy retire. He has worked extremely hard during his time at the school, and examination results are well above those of the national average for all subjects offered in the Individuals and Societies Department. In fact, during the past four years, the Department has managed to get the best results in the IB Diploma Programme in the whole school. The senior leadership team is keen to hire a replacement who is highly competent, determined, and motivated to lead the team to ensure all students continue to achieve outstanding results.</p><table border="0" cellpadding="0" cellspacing="0" width="764"><colgroup><col width="41"><col width="639"><col width="84"></colgroup><tbody><tr height="19"><td height="19" style="height:14.5pt;width:31pt" width="41">(a)</td><td style="width:480pt" width="639">Identify <strong>two </strong>characteristics of an autocratic leader.</td><td class="xl65" style="width: 63pt; text-align: right;" width="84"><em>[2 marks]</em></td></tr><tr height="19"><td height="19" style="height:14.5pt">(b)</td><td>Define the term <em>line manager</em>.</td><td class="xl65" style="text-align: right;"><em>[2 marks]</em></td></tr><tr height="19"><td height="19" style="height:14.5pt">(c)</td><td>Examine whether the senior leadership team at <em>MBS</em> ought to act on the advice of Andy Blair to use external recruitment to hire the new Head of Department.*</td><td class="xl65" style="text-align: right;"><em>[6 marks]</em></td></tr><tr height="19"><td height="19" style="height:14.5pt">(d)</td><td>Evaluate the factors that contribute to effective leadership in organizations such as <em>MBS</em>.</td><td class="xl65" style="text-align: right;"><em>[10 marks]</em></td></tr></tbody></table><span style="color:#696969;">* Note: This question applies to HL only students, the contents of which are covered in </span><a href="../44382/internal-external-recruitment-hl-1.html" title="New syllabus (first teaching 2022) » Unit 2 - Human resource management » 2.4 Motivation and demotivation » Internal & external recruitment (HL)"><span style="color:#696969;">Unit 2.4</span></a><span style="color:#696969;">.</span><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) Identify <u>two</u> characteristics of an autocratic leader. <em>[2 marks]</em></strong></p><p><span style="color:#FF0000;">Characteristics of an autocratic leader could include:</span></p><ul><li><p><span style="color:#FF0000;">Makes autonomous decisions without consultation or regard for his/her subordinates</span></p></li><li><p><span style="color:#FF0000;">Dictates all work methods and processes</span></p></li><li><p><span style="color:#FF0000;">Largely unreceptive to changes in the business environment</span></p></li><li><p><span style="color:#FF0000;">Maintains absolute and authoritarian control over a group/team</span></p></li></ul><p><em><span style="color:#FF0000;">Accept any other valid characteristic of an autocratic leader.</span></em></p><p><span style="color:#FF0000;">Award <em>[1 mark] </em>for each characteristic of an autocratic leader that is correctly identified, up to a maximum of <em>[2 marks]</em>.</span></p><hr class="hidden"><p><strong>(b) Define the term <em>line manager</em>. <em>[2 marks]</em></strong></p><p><span style="color:#FF0000;">A <strong>line manager </strong>is the person directly above an employee on the next hierarchical level of an organizational chart. The line manager (such as Andy Hay) is responsible for the daily management of the people who are directly on the next level down the hierarchy (the four members of his department). Whilst the line manager might delegate tasks to subordinates, s/he still retains overall responsibility for the tasks.</span></p><p><span style="color:#FF0000;">Award <em>[1 mark]</em> if there is some understanding of ‘line manager’ shown, although the answer might lack clarity.</span></p><p><span style="color:#FF0000;">Award<em> [2 marks]</em> if ‘line manager’ is clearly defined, similar to the one given above (although not necessarily in such depth).</span></p><hr class="hidden"><p><strong>(c) Examine whether the SLT at Mount Beacon School (MBS) ought to act on the advice of Andy Hay to use external recruitment to hire the new Head of Department. <em>[6 marks]</em></strong></p><p><span style="color:#FF0000;">External recruitment is the process of hiring workers from outside the organization. Arguments for <em>MBS </em>using external recruitment include:</span></p><p><span style="color:#FF0000;"></span></p><ul class="branded"><li><p><span style="color:#FF0000;">The external recruit might provide much needed ‘new blood’ (ideas and revitalizing force), given that the existing members of the department have been there a while (collectively, over 15 years). The new Head of Department can bring in new ideas, provide insight into best practise and how things are done well in other schools.</span><span style="color:#FF0000;"></span><span style="color:#FF0000;"></span></p></li><li><p><span style="color:#FF0000;">It tends to attract a larger pool of applicants. The Internet, for example, can have a global reach for recruitment, yet only incurs relatively low costs. Hence, external recruitment increases <em>MBS</em>’ chances of finding the ideal candidate for the Head of Department job.</span><span style="color:#FF0000;"></span></p></li><li><p><span style="color:#FF0000;">Similarly, an external recruit might be more qualified or suitable than any of the internal candidates, perhaps because they have gained the necessary experiences and skills required by <em>MBS</em>. For example, the external candidate might be an existing Head of Department at another school.</span></p></li></ul><hr class="hidden"><p><span style="color:#FF0000;">Arguments against using external recruitment to fill the Head of Department role at <em>MBS </em>include:</span></p><ul class="branded"><li><p><span style="color:#FF0000;">External recruitment tends to be more time consuming than internal recruitment. External advertising, screening of the applications, shortlisting suitable candidates, interviewing and checking references all take up valuable senior management time. <em>MBS </em>might also be obliged to consider anti-discrimination laws when advertising jobs and interviewing applicants. This further lengthens the (external recruitment) process.</span><span style="color:#FF0000;"></span></p></li><li><p><span style="color:#FF0000;">External recruitment can be extremely expensive, such as the cost of the Head of Department job advert being placed in national newspapers. There is also the opportunity cost of senior management time involved in recruitment, selection, induction and training.</span></p></li><li><p><span style="color:#FF0000;"></span><span style="color:#FF0000;">There is a greater degree of uncertainty when hiring an external recruit. Senior management would be taking some risk in that they do not really know the external candidates or their ability to do the Head of Department job effectively.</span></p></li><li><p><span style="color:#FF0000;">However, targeting the right person can be difficult and the advertising costs can also be high.</span></p></li></ul><hr class="hidden"><p><span style="color:#FF0000;">Award <em>[1 – 2 marks]</em> if the answer is rather vague / descriptive and lacks coherence. The answer might appear in a list-like format.</span></p><p><span style="color:#FF0000;">Award <em>[3 – 4 marks</em><em>]</em> if the answer considers the merits and limitations of using external recruitment. However, the answer lacks depth and/or application. Award up to <em>[3 marks]</em> for an unbalanced answer.</span></p><p><span style="color:#FF0000;">Award <em>[5 – 6 marks]</em> if there is a thorough examination of various advantages and limitations of using external recruitment to hire the new HOD at MBS. Appropriate terminology is used with good application demonstrated.</span></p><hr class="hidden"><p><strong>(d) Evaluate the factors that contribute to effective leadership in organizations such as <em>MBS</em>. <em>[10 marks]</em></strong></p><p><span style="color:#FF0000;">The answer should outline the meaning/interpretation of ‘effective leadership’ in relation to the achievement of organizational objectives. Factors that contribute to effective leadership in organizations such as <em>MBS </em>might include a discussion of the:</span></p><ul class="branded"><li><p><span style="color:#FF0000;"></span><span style="color:#FF0000;">Ability and experience of the leader (principal or senior leadership team).</span></p></li><li><p><span style="color:#FF0000;">Confidence and competence of subordinates (teaching staff).</span></p></li><li><p><span style="color:#FF0000;">Level of difficulty in completing the tasks at hand (depending on whether the task is <em>routine</em>, such as recruitment, or a <em>one-off</em> task, such as dealing with a fire incident.</span></p></li><li><p><span style="color:#FF0000;">Degree of staff loyalty towards the leader or organization (11% staff turnover at <em>Mount Beacon School</em>).</span></p></li><li><p><span style="color:#FF0000;">Motivation level of the leader and subordinates.</span></p></li><li><p><span style="color:#FF0000;">Effectiveness of communication channels (issues of conflict between teaching staff).</span><span style="color:#FF0000;"></span></p></li></ul><hr class="hidden"><p><span style="color:#FF0000;">Award <em>[1 - 2 marks]</em> for an answer that is vague/generalized and lacks substance. The answer might be presented in a list-like format.</span></p><p><span style="color:#FF0000;">Award <em>[3 - 4 marks]</em> for an answer that shows limited understanding of the demands of the question. There is minimal application shown.</span></p><p><span style="color:#FF0000;">Award <em>[5 - 6 marks]</em> for an answer that shows some understanding of the demands of the question, with some effective application of the stimulus material. The answer<span style="color:#FF0000;"> may be unbalanced and/or </span><span style="color:#FF0000;">overly descriptive. </span></span></p><p><span style="color:#FF0000;">Award <em>[7 - 8 marks</em><em>]</em> for an answer that shows good understanding of the demands of the question. There is evidence of application of the stimulus material in the case study, but clear evaluation is missing.</span></p><p><span style="color:#FF0000;">Award <em>[9 - 10 marks]</em> if there is clear discussion of the factors that contribute to effective leadership in organizations such as <em>MBS</em>, some of which may be beyond the control of the leader (school principal). Appropriate terminology is used throughout the response and there is evidence of critical and reflective thinking.</span></p><p>Download a <a href="../../../media/ib/businessmanagement/files/2-hrm/2.3-exam-practise-question-(mbs)-inthinking(1).pdf.html">PDF copy</a> of this exam practice question to use with your students.</p></div></section></div></div></div><p>Return to the <a href="../44338/23-leadership-and-management.html" title="New syllabus 2022 » Unit 2 - Human resource management » 2.3 Leadership and management">Unit 2.3 - Leadership and management</a> homepage</p><p>Return to the <a href="../43530/unit-2-human-resource-management.html" title="New syllabus 2022 » Unit 2 - Human resource management">Unit 2 - Human resource management</a> homepage</p><p><span style="font-family:arial,helvetica,sans-serif;"><a href="../../index.htm"><img alt="" src="../../../ib/businessmanagement/logo-blue-black-1.png" style="width: 170px; height: 54px;"></a></span></p><script>document.querySelectorAll('.tib-teacher-only').forEach(e => e.remove());</script>
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