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1">Unit 1</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21759/11-introduction-to-business-management" title="1.1 Introduction to business management">1.1 Introduction to business management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/30793/11-comprehension-questions" title="1.1 Comprehension questions">1.1 Comprehension questions</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24499/glossary-introduction-to-business-management" title="Glossary: Introduction to business management">Glossary: Introduction to business management</a></li></ul><li class=" parent" style="padding-left: 28px"><i 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title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21761/13-organizational-objectives" title="1.3 Organizational objectives">1.3 Organizational objectives</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/30796/13-comprehension-questions" title="1.3 Comprehension questions">1.3 Comprehension questions</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22238/glossary" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21762/14-stakeholders" title="1.4 Stakeholders">1.4 Stakeholders</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/30801/14-comprehension-questions" title="1.4 Comprehension Questions">1.4 Comprehension Questions</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21946/glossary-stakeholders" title="Glossary - Stakeholders">Glossary - Stakeholders</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21763/15-external-environment" title="1.5 External environment">1.5 External environment</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24494/glossary-external-environment" title="Glossary: External environment">Glossary: External environment</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="1.6 Growth and evolution">1.6 Growth and evolution</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22300/mncs-quiz" title="MNCs Quiz">MNCs Quiz</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24021/glossary-growth-and-evolution" title="Glossary: Growth and evolution">Glossary: Growth and evolution</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21765/17-organizational-planning-tools-hl-only" title="1.7 Organizational planning tools (HL only)">1.7 Organizational planning tools (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24500/glossary-organizational-planning-tools-hl" title="Glossary: Organizational planning tools (HL)">Glossary: Organizational planning tools (HL)</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21699/unit-2" title="Unit 2">Unit 2</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21753/21-functions-evolution-of-hrm" title="2.1 Functions & evolution of HRM">2.1 Functions & evolution of HRM</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25388/glossary" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21754/22-organizational-structure" title="2.2 Organizational structure">2.2 Organizational structure</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25471/glossary-organizational-structure" title="Glossary: Organizational structure">Glossary: Organizational structure</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21755/23-leadership-and-management" title="2.3 Leadership and management">2.3 Leadership and management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24733/glossary-leadership-management" title="Glossary: Leadership & Management">Glossary: Leadership & Management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24745/24-motivation" title="2.4 Motivation">2.4 Motivation</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24719/glossary-motivation" title="Glossary: Motivation">Glossary: Motivation</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21757/25-organizational-culture-hl-only" title="2.5 Organizational culture (HL only)">2.5 Organizational culture (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25243/glossary-organizational-culture" title="Glossary: Organizational culture">Glossary: Organizational culture</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21758/26-industrialemployee-relations-hl-only" title="2.6 Industrial/employee relations (HL only)">2.6 Industrial/employee relations (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25125/glossary-industrialemployee-relations" title="Glossary: Industrial/employee relations">Glossary: Industrial/employee relations</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21670/unit-3" title="Unit 3">Unit 3</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21744/31-sources-of-finance" title="3.1 Sources of finance">3.1 Sources of finance</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24501/glossary-sources-of-finance" title="Glossary: Sources of finance">Glossary: Sources of finance</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21745/32-costs-and-revenues" title="3.2 Costs and revenues">3.2 Costs and revenues</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22092/glossary-costs-revenues" title="Glossary: Costs & revenues">Glossary: Costs & revenues</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21746/33-break-even-analysis" title="3.3 Break-even analysis">3.3 Break-even analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22270/contribution-analysis" title="Contribution analysis">Contribution analysis</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22093/glossary-break-even-analysis" title="Glossary: Break-even analysis">Glossary: Break-even analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21747/34-final-accounts" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/31367/glossary-final-accounts" title="Glossary: Final accounts">Glossary: Final accounts</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21748/35-profitability-and-liquidity-ratio-analysis" title="3.5 Profitability and liquidity ratio analysis">3.5 Profitability and liquidity ratio analysis</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25111/glossary-profitability-and-liquidity-ratio-analysis" title="Glossary: Profitability and liquidity ratio analysis">Glossary: Profitability and liquidity ratio analysis</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21749/36-efficiency-ratio-analysis-hl-only" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25114/glossary-efficiency-ratios" title="Glossary: Efficiency ratios">Glossary: Efficiency ratios</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21750/37-cash-flow" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25118/cash-flow-forecasts" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/31376/glossary-cash-flow" title="Glossary: Cash flow">Glossary: Cash flow</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21751/38-investment-appraisal" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/31377/glossary-investment-appraisal-" title="Glossary: Investment appraisal ">Glossary: Investment appraisal </a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21752/39-budgets-hl-only" title="3.9 Budgets (HL only)">3.9 Budgets (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/31378/39-budgets-hl-only-glossary" title="3.9 Budgets (HL Only) Glossary">3.9 Budgets (HL Only) Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21684/unit-4" title="Unit 4">Unit 4</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21767/41-the-role-of-marketing" title="4.1 The role of marketing">4.1 The role of marketing</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25618/glossary-the-role-of-marketing" title="Glossary: The role of marketing">Glossary: The role of marketing</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21768/42-marketing-planning" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/28328/glossary-marketing-planning" title="Glossary: Marketing planning">Glossary: Marketing planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21769/43-sales-forecasting-hl-only" title="4.3 Sales forecasting (HL only)">4.3 Sales forecasting (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25713/glossary-sales-forecasting" title="Glossary: Sales forecasting">Glossary: Sales forecasting</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21713/44-market-research" title="4.4 Market research">4.4 Market research</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25208/glossary-market-research" title="Glossary: Market research">Glossary: Market research</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21770/45-the-four-ps" title="4.5 The four Ps">4.5 The four Ps</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Product">Product</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22627/glossary-product" title="Glossary: Product">Glossary: Product</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22525/price" title="Price">Price</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22548/glossary-price" title="Glossary: Price">Glossary: Price</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22567/promotion" title="Promotion">Promotion</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22704/45-promotion-glossary" title="4.5 Promotion - Glossary">4.5 Promotion - Glossary</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22745/place" title="Place">Place</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/23813/45-place-glossary" title="4.5 Place - Glossary">4.5 Place - Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21774/46-the-extended-marketing-mix-7-ps-hl" title="4.6 The extended marketing mix (7 Ps) (HL)">4.6 The extended marketing mix (7 Ps) (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/23814/glossary-the-extended-marketing-mix-hl" title="Glossary: The extended marketing mix (HL)">Glossary: The extended marketing mix (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21772/47-international-marketing-hl-only" title="4.7 International marketing (HL only)">4.7 International marketing (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/23815/glossary-international-marketing-hl" title="Glossary: International Marketing (HL)">Glossary: International Marketing (HL)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21773/48-e-commerce" title="4.8 E-commerce">4.8 E-commerce</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/23797/glossary-e-commerce" title="Glossary: E-commerce">Glossary: E-commerce</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21688/unit-5" title="Unit 5">Unit 5</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21937/51-the-role-of-operations-management" title="5.1 The role of operations management">5.1 The role of operations management</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24843/glossary" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21938/52-production-methods" title="5.2 Production methods">5.2 Production methods</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24848/glossary" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21939/53-lean-production-quality-management-hl" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24839/glossary-lean-production-and-quality-management" title="Glossary: Lean Production and quality management">Glossary: Lean Production and quality management</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21700/54-location" title="5.4 Location">5.4 Location</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/24959/glossary" title="Glossary">Glossary</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21695/55-production-planning-hl" title="5.5 Production planning (HL)">5.5 Production planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25032/glossary-production-planning" title="Glossary: Production planning">Glossary: Production planning</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33222/56-research-development-hl" title="5.6 Research & development (HL)">5.6 Research & development (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/34014/glossary-research-development" title="Glossary: Research & Development">Glossary: Research & Development</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21941/57-crisis-management-contingency-planning-hl" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25042/glossary" title="Glossary">Glossary</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25115/cuegis" title="CUEGIS">CUEGIS</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The 6 CUEGIS concepts">The 6 CUEGIS concepts</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Ethics">Ethics</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21954/mcdonalds-supersize-me" title="McDonald's - Supersize Me">McDonald's - Supersize Me</a></li></ul></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="The CUEGIS essay">The CUEGIS essay</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22876/planning-your-cuegis-essay" title="Planning your CUEGIS essay">Planning your CUEGIS essay</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33806/paper-2-section-c-questions" title="Paper 2 Section C Questions">Paper 2 Section C Questions</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33959/the-ia" title="The IA">The IA</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="HL IA">HL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22190/35-sample-research-questions-for-the-hl-ia" title="35 sample research questions for the HL IA">35 sample research questions for the HL IA</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22200/hl-ia-student-checklist" title="HL IA - Student Checklist">HL IA - Student Checklist</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33508/ia-hl-poster" title="IA HL Poster">IA HL Poster</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="SL IA">SL IA</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22146/sl-ia-20-sample-titles" title="SL IA - 20 Sample Titles">SL IA - 20 Sample Titles</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38181/faq-about-the-sl-ia" title="FAQ about the SL IA">FAQ about the SL IA</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22114/exams" title="Exams">Exams</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22115/command-terms" title="Command Terms">Command Terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36599/glossary-of-key-terms" title="Glossary of key terms">Glossary of key terms</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38059/flashcards-revision" title="Flashcards - Revision">Flashcards - Revision</a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38060/flashcards-revision-unit-1" title="Flashcards - Revision (Unit 1)">Flashcards - Revision (Unit 1)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38056/unit-11-revision-flashcards" title="Unit 1.1 Revision Flashcards">Unit 1.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38061/unit-12-revision-flashcards" title="Unit 1.2 Revision Flashcards">Unit 1.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38067/unit-13-revision-flashcards" title="Unit 1.3 Revision Flashcards">Unit 1.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38092/unit-14-revision-flashcards" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38096/unit-15-revision-flashcards" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38102/unit-16-revision-flashcards" title="Unit 1.6 Revision Flashcards">Unit 1.6 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38103/unit-17-revision-flashcards" title="Unit 1.7 Revision Flashcards">Unit 1.7 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38114/flashcards-revision-unit-2" title="Flashcards - Revision (Unit 2)">Flashcards - Revision (Unit 2)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38121/unit-21-revision-flashcards" title="Unit 2.1 Revision Flashcards">Unit 2.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38125/unit-22-revision-flashcards" title="Unit 2.2 Revision Flashcards">Unit 2.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38126/unit-23-revision-flashcards" title="Unit 2.3 Revision Flashcards">Unit 2.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38144/unit-24-revision-flashcards" title="Unit 2.4 Revision Flashcards">Unit 2.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38146/unit-25-revision-flashcards" title="Unit 2.5 Revision Flashcards">Unit 2.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38147/unit-26-revision-flashcards-hl-only" title="Unit 2.6 Revision Flashcards (HL only)">Unit 2.6 Revision Flashcards (HL only)</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38149/flashcards-revision-unit-3" title="Flashcards - Revision (Unit 3)">Flashcards - Revision (Unit 3)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38153/unit-31-revision-flashcards" title="Unit 3.1 Revision Flashcards">Unit 3.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38154/unit-32-revision-flashcards" title="Unit 3.2 Revision Flashcards">Unit 3.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38182/unit-33-revision-flashcards" title="Unit 3.3 Revision Flashcards">Unit 3.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38183/unit-34-revision-flashcards" title="Unit 3.4 Revision Flashcards">Unit 3.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38191/unit-35-revision-flashcards" title="Unit 3.5 Revision Flashcards">Unit 3.5 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38192/unit-36-revision-flashcards-hl" title="Unit 3.6 Revision Flashcards (HL)">Unit 3.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38193/unit-37-revision-flashcards" title="Unit 3.7 Revision Flashcards">Unit 3.7 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38194/unit-38-revision-flashcards" title="Unit 3.8 Revision Flashcards">Unit 3.8 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38195/unit-39-revision-flashcards" title="Unit 3.9 Revision Flashcards">Unit 3.9 Revision Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38196/flashcards-revision-unit-4" title="Flashcards - Revision (Unit 4)">Flashcards - Revision (Unit 4)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38198/unit-41-revision-flashcards" title="Unit 4.1 Revision Flashcards">Unit 4.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38203/unit-42-revision-flashcards" title="Unit 4.2 Revision Flashcards">Unit 4.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38217/unit-43-revision-flashcards" title="Unit 4.3 Revision Flashcards">Unit 4.3 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38218/unit-44-revision-flashcards" title="Unit 4.4 Revision Flashcards">Unit 4.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38219/unit-45a-product-revision-flashcards" title="Unit 4.5a Product Revision Flashcards">Unit 4.5a Product Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38220/unit-45b-price-revision-flashcards" title="Unit 4.5b Price Revision Flashcards">Unit 4.5b Price Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38221/unit-45c-promotion-revision-flashcards" title="Unit 4.5c Promotion Revision Flashcards">Unit 4.5c Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38222/unit-45d-promotion-revision-flashcards" title="Unit 4.5d Promotion Revision Flashcards">Unit 4.5d Promotion Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38223/unit-46-revision-flashcards-hl" title="Unit 4.6 Revision Flashcards (HL)">Unit 4.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38224/unit-47-revision-flashcards-hl" title="Unit 4.7 Revision Flashcards (HL)">Unit 4.7 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38225/unit-48-e-commerce-flashcards" title="Unit 4.8 E-commerce Flashcards">Unit 4.8 E-commerce Flashcards</a></li></ul><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38232/flashcards-revision-unit-5" title="Flashcards - Revision (Unit 5)">Flashcards - Revision (Unit 5)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38233/unit-51-revision-flashcards" title="Unit 5.1 Revision Flashcards">Unit 5.1 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38234/unit-52-revision-flashcards" title="Unit 5.2 Revision Flashcards">Unit 5.2 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38235/unit-53-revision-flashcards-hl" title="Unit 5.3 Revision Flashcards (HL)">Unit 5.3 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38236/unit-54-revision-flashcards" title="Unit 5.4 Revision Flashcards">Unit 5.4 Revision Flashcards</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38237/unit-55-revision-flashcards-hl" title="Unit 5.5 Revision Flashcards (HL)">Unit 5.5 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38238/unit-56-revision-flashcards-hl" title="Unit 5.6 Revision Flashcards (HL)">Unit 5.6 Revision Flashcards (HL)</a></li><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38239/unit-57-revision-flashcards-hl" title="Unit 5.7 Revision Flashcards (HL)">Unit 5.7 Revision Flashcards (HL)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33830/formulae-quiz" title="Formulae Quiz">Formulae Quiz</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 1 Pre-release case study">Paper 1 Pre-release case study</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44969/n22-case-study-ele-plc" title="N22 Case Study (ELE PLC)">N22 Case Study (ELE PLC)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M22 (Peacewick Uni)">M22 (Peacewick Uni)</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44106/additional-exam-questions-paper-1" title="Additional exam questions (Paper 1)">Additional exam questions (Paper 1)</a></li></ul><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/32840/may-2020-p-s-trawlers" title="May 2020 (P&S Trawlers)">May 2020 (P&S Trawlers)</a></li><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="M23 Paper 1">M23 Paper 1</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/47825/paper-1-svt-study-guide-shirin-karimi" title="Paper 1 SVT Study Guide (Shirin Karimi)">Paper 1 SVT Study Guide (Shirin Karimi)</a></li></ul></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/26095/exam-study-tips-resources" title="Exam & Study tips (resources)">Exam & Study tips (resources)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/31342/revision-exams-top-tips" title="Revision & Exams - Top tips">Revision & Exams - Top tips</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/47460/top-tips-for-m23-exams" title="Top Tips for M23 Exams">Top Tips for M23 Exams</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43522/unit-1-intro-to-bm" title="Unit 1 - Intro to BM">Unit 1 - Intro to BM</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44034/11-what-is-a-business" title="1.1 What is a business?">1.1 What is a business?</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44112/the-nature-of-business" title="The nature of business">The nature of business</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44052/primary-secondary-tertiary-quaternary-sectors" title="Primary, secondary, tertiary, & quaternary sectors">Primary, secondary, tertiary, & quaternary sectors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44327/entrepreneurship" title="Entrepreneurship">Entrepreneurship</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44040/challenges-opportunities-for-starting-a-business" title="Challenges & opportunities for starting a business">Challenges & opportunities for starting a business</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45442/11-true-or-false-quiz" title="1.1 True or False Quiz">1.1 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45581/11-revision-flashcards" title="1.1 Revision Flashcards">1.1 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43662/11-glossary-of-key-terms" title="1.1 Glossary of key terms">1.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44016/12-types-of-business-entities" title="1.2 Types of business entities">1.2 Types of business entities</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44065/public-private-sectors" title="Public & private sectors">Public & private sectors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44119/types-of-for-profit-organizations" title="Types of for-profit organizations">Types of for-profit organizations</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44015/for-profit-social-enterprises" title="For-profit social enterprises">For-profit social enterprises</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44128/non-profit-social-enterprises" title="Non-profit social enterprises">Non-profit social enterprises</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45443/true-or-false-quiz" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45582/12-revision-flashcards" title="1.2 Revision Flashcards">1.2 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45550/12-glossary-of-key-terms" title="1.2 Glossary of key terms">1.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44041/13-business-objectives" title="1.3 Business objectives">1.3 Business objectives</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44132/vision-and-mission-statements" title="Vision and mission statements">Vision and mission statements</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44160/common-business-objectives" title="Common business objectives">Common business objectives</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44180/strategic-tactical-objectives" title="Strategic & tactical objectives">Strategic & tactical objectives</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44171/corporate-social-responsibility" title="Corporate social responsibility">Corporate social responsibility</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45583/13-revision-flashcards" title="1.3 Revision Flashcards">1.3 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45446/true-or-false-quiz" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43663/13-glossary-of-key-terms" title="1.3 Glossary of Key terms">1.3 Glossary of Key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44044/14-stakeholders" title="1.4 Stakeholders">1.4 Stakeholders</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44188/the-interests-of-stakeholders" title="The interests of stakeholders">The interests of stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44189/conflict-between-stakeholders" title="Conflict between stakeholders">Conflict between stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45584/unit-14revision-flashcards" title="Unit 1.4 Revision Flashcards">Unit 1.4 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45447/14-true-or-false" title="1.4 True or False">1.4 True or False</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43671/14-glossary-of-key-terms" title="1.4 Glossary of Key terms">1.4 Glossary of Key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44045/15-growth-and-evolution" title="1.5 Growth and evolution">1.5 Growth and evolution</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44212/economies-diseconomies-of-scale" title="Economies & diseconomies of scale">Economies & diseconomies of scale</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44214/internal-and-external-growth" title="Internal and external growth">Internal and external growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44220/external-growth-methods" title="External growth methods">External growth methods</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44219/reasons-to-grow-or-stay-small" title="Reasons to grow or stay small">Reasons to grow or stay small</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45586/unit-15revision-flashcards" title="Unit 1.5 Revision Flashcards">Unit 1.5 Revision Flashcards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45450/true-or-false-quiz" title="True or False quiz">True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43673/15-glossary-of-key-terms" title="1.5 Glossary of key terms">1.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44046/16-multinational-companies" title="1.6 Multinational companies">1.6 Multinational companies</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44236/the-impact-of-mncs-on-host-countries-ao3" title="The impact of MNCs on host countries (AO3)">The impact of MNCs on host countries (AO3)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44240/video-documentaries-mncs" title="Video documentaries - MNCs">Video documentaries - MNCs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45587/16-glossary-of-key-terms" title="1.6 Glossary of key terms">1.6 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43530/unit-2-hrm" title="Unit 2 - HRM">Unit 2 - HRM</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44253/21-introduction-to-hrm" title="2.1 Introduction to HRM">2.1 Introduction to HRM</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44256/role-of-hrm" title="Role of HRM">Role of HRM</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44257/factors-that-influence-hr-planning" title="Factors that influence HR planning">Factors that influence HR planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44282/reasons-for-resistance-to-change" title="Reasons for resistance to change">Reasons for resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44283/hr-strategies-for-reducing-the-impact-of-change-resistance-to-ch" title="HR strategies for reducing the impact of change & resistance to change">HR strategies for reducing the impact of change & resistance to change</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45458/21-true-or-false-quiz" title="2.1 True or False quiz">2.1 True or False quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43677/21-glossary-of-key-terms" title="2.1 Glossary of key terms">2.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43875/22-organizational-structure" title="2.2 Organizational structure">2.2 Organizational structure</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44296/terminology-for-understanding-organizational-structures" title="Terminology for understanding organizational structures">Terminology for understanding organizational structures</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44310/types-of-organization-charts" title="Types of organization charts">Types of organization charts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44323/appropriateness-of-organizational-structures-and-external-factor" title="Appropriateness of organizational structures and external factors">Appropriateness of organizational structures and external factors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44316/changes-in-organizational-structures-hl" title="Changes in organizational structures (HL)">Changes in organizational structures (HL)</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44338/23-leadership-and-management" title="2.3 Leadership and management">2.3 Leadership and management</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44343/scientific-intuitive-management-hl" title="Scientific & intuitive management (HL)">Scientific & intuitive management (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44339/management-and-leadership" title="Management and leadership">Management and leadership</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44340/leadership-styles" title="Leadership styles">Leadership styles</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45462/23-true-or-false-quiz" title="2.3 True or False Quiz">2.3 True or False Quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43829/24-motivation-and-demotivation" title="2.4 Motivation and demotivation">2.4 Motivation and demotivation</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44349/motivation-theories-sl-hl" title="Motivation theories (SL & HL)">Motivation theories (SL & HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44353/motivation-theories-hl" title="Motivation theories (HL)">Motivation theories (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44354/labour-turnover-hl" title="Labour turnover (HL)">Labour turnover (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44361/types-of-appraisal-hl" title="Types of appraisal (HL)">Types of appraisal (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44383/methods-of-recruitment-hl" title="Methods of recruitment (HL)">Methods of recruitment (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44382/internal-external-recruitment-hl" title="Internal & external recruitment (HL)">Internal & external recruitment (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44363/types-of-financial-rewards" title="Types of financial rewards">Types of financial rewards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44370/types-of-non-financial-rewards" title="Types of non-financial rewards">Types of non-financial rewards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44371/types-of-training" title="Types of training">Types of training</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44390/25-organizational-corporate-culture-hl" title="2.5 Organizational (corporate) culture (HL)">2.5 Organizational (corporate) culture (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44392/organizational-culture-hl" title="Organizational culture (HL)">Organizational culture (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44393/types-of-organizational-culture-hl" title="Types of organizational culture (HL)">Types of organizational culture (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44394/cultural-clashes-hl" title="Cultural clashes (HL)">Cultural clashes (HL)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44247/26-communication" title="2.6 Communication">2.6 Communication</a></li></ul><li class="ancestor parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43545/unit-3-finance" title="Unit 3 - Finance">Unit 3 - Finance</a></li><ul class="level-1 expanded"><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44435/31-introduction-to-finance" title="3.1 Introduction to finance">3.1 Introduction to finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44431/31-introduction-to-finance-role-of-finance" title="3.1 Introduction to finance - role of finance">3.1 Introduction to finance - role of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45634/31-glossary-of-key-term" title="3.1 Glossary of key term">3.1 Glossary of key term</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44436/32-sources-of-finance" title="3.2 Sources of finance">3.2 Sources of finance</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44437/internal-sources-of-finance" title="Internal sources of finance">Internal sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44450/external-sources-of-finance" title="External sources of finance">External sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44479/appropriateness-of-sources-of-finance" title="Appropriateness of sources of finance">Appropriateness of sources of finance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45483/32-true-or-false-quiz" title="3.2 True or False Quiz">3.2 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43688/32-glossary-of-key-terms" title="3.2 Glossary of key terms">3.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44486/33-costs-and-revenues" title="3.3 Costs and revenues">3.3 Costs and revenues</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44487/types-of-costs" title="Types of costs">Types of costs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44491/total-revenue-revenue-streams" title="Total revenue & revenue streams">Total revenue & revenue streams</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45484/33-true-or-false-quiz" title="3.3 True or false quiz">3.3 True or false quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45657/33-glossary-of-key-terms" title="3.3 Glossary of key terms">3.3 Glossary of key terms</a></li></ul><li class="ancestor parent" style="padding-left: 14px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44492/34-final-accounts" title="3.4 Final accounts">3.4 Final accounts</a></li><ul class="level-2 expanded"><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44527/the-purpose-of-accounts-to-different-stakeholders" title="The purpose of accounts to different stakeholders">The purpose of accounts to different stakeholders</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44577/profit-loss-account" title="Profit & loss account">Profit & loss account</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44579/balance-sheets" title="Balance sheets">Balance sheets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44560/types-of-intangible-assets" title="Types of intangible assets">Types of intangible assets</a></li><li class="current" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44585/depreciation-hl" title="Depreciation (HL)">Depreciation (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45919/34-true-or-false-quiz" title="3.4 True or False Quiz">3.4 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45658/34-glossary-of-key-terms" title="3.4 Glossary of key terms">3.4 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44593/35-profitability-liquidity-ratio-analysis" title="3.5 Profitability & liquidity ratio analysis">3.5 Profitability & liquidity ratio analysis</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44595/profitability-ratios" title="Profitability ratios">Profitability ratios</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44626/liquidity-ratios" title="Liquidity ratios">Liquidity ratios</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45486/35-true-or-false-quiz" title="3.5 True or False Quiz">3.5 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45661/35-glossary-of-key-terms" title="3.5 Glossary of key terms">3.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44627/36-efficiency-ratio-analysis-hl-only" title="3.6 Efficiency ratio analysis (HL only)">3.6 Efficiency ratio analysis (HL only)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44805/efficiency-ratios-hl" title="Efficiency ratios (HL)">Efficiency ratios (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44633/insolvency-versus-bankruptcy" title="Insolvency versus bankruptcy">Insolvency versus bankruptcy</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45488/36-true-or-false-quiz" title="3.6 True or False Quiz">3.6 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45662/36-glossary-of-key-terms" title="3.6 Glossary of key terms">3.6 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44493/37-cash-flow" title="3.7 Cash flow">3.7 Cash flow</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44502/the-difference-between-profit-cash-flow" title="The difference between profit & cash flow">The difference between profit & cash flow</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44506/working-capital" title="Working capital">Working capital</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44557/liquidity-position" title="Liquidity position">Liquidity position</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44558/cash-flow-forecasts" title="Cash flow forecasts">Cash flow forecasts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44507/relationship-between-investment-profit-cash-flow" title="Relationship between investment, profit & cash flow">Relationship between investment, profit & cash flow</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44509/strategies-for-dealing-with-cash-flow-problems" title="Strategies for dealing with cash flow problems">Strategies for dealing with cash flow problems</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45493/37-true-or-false" title="3.7 True or False">3.7 True or False</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43687/37-glossary-of-key-terms" title="3.7 Glossary of key terms">3.7 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44515/38-investment-appraisal" title="3.8 Investment appraisal">3.8 Investment appraisal</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44516/payback-period-average-rate-of-return" title="Payback period & Average rate of return">Payback period & Average rate of return</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44519/net-present-value-npv-hl" title="Net present value (NPV) (HL)">Net present value (NPV) (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45494/38-true-or-false-quiz" title="3.8 True or False Quiz">3.8 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43693/38-glossary-of-key-terms" title="3.8 Glossary of key terms">3.8 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44564/39-budgets-hl" title="3.9 Budgets (HL)">3.9 Budgets (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44565/the-difference-between-cost-profit-centres" title="The difference between cost & profit centres">The difference between cost & profit centres</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44568/the-roles-of-cost-profit-centres" title="The roles of cost & profit centres">The roles of cost & profit centres</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44576/constructing-budgets" title="Constructing budgets">Constructing budgets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44569/variances" title="Variances">Variances</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44571/the-importance-of-budgets-variances" title="The importance of budgets & variances">The importance of budgets & variances</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45495/39-true-or-false-quiz" title="3.9 True or False Quiz">3.9 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43694/39-glossary-of-key-terms" title="3.9 Glossary of key terms">3.9 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43547/unit-4-marketing" title="Unit 4 - Marketing">Unit 4 - Marketing</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44637/41-introduction-to-marketing" title="4.1 Introduction to marketing">4.1 Introduction to marketing</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44638/market-orientation-vs-product-orientation" title="Market orientation vs Product orientation">Market orientation vs Product orientation</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44639/market-share" title="Market share">Market share</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44641/market-growth" title="Market growth">Market growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44642/importance-of-market-share-market-leadership-hl" title="Importance of market share & market leadership (HL)">Importance of market share & market leadership (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43695/41-glossary-of-key-terms" title="4.1 Glossary of key terms">4.1 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43823/42-marketing-planning" title="4.2 Marketing planning">4.2 Marketing planning</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44645/the-role-of-marketing-planning" title="The role of marketing planning">The role of marketing planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44654/segmentation-targeting-and-positioning" title="Segmentation, targeting, and positioning">Segmentation, targeting, and positioning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44646/difference-between-niche-mass-market" title="Difference between niche & mass market">Difference between niche & mass market</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43821/the-importance-of-having-a-usp" title="The importance of having a USP">The importance of having a USP</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44655/how-organizations-differentiate-themselves" title="How organizations differentiate themselves">How organizations differentiate themselves</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43834/42-vocab-quiz" title="4.2 Vocab Quiz">4.2 Vocab Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45528/42-true-or-false-quiz" title="4.2 True or False Quiz">4.2 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43696/42-glossary-of-key-terms" title="4.2 Glossary of key terms">4.2 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44660/43-sales-forecasting-hl" title="4.3 Sales forecasting (HL)">4.3 Sales forecasting (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44669/benefits-limitations-of-sales-forecasting" title="Benefits & limitations of sales forecasting">Benefits & limitations of sales forecasting</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45530/43-true-or-false-quiz" title="4.3 True or False Quiz">4.3 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43711/43-glossary-of-key-terms" title="4.3 Glossary of key terms">4.3 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44679/44-market-research" title="4.4 Market research">4.4 Market research</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44680/why-how-organizations-carry-out-market-research" title="Why & how organizations carry out market research">Why & how organizations carry out market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44692/methodstechniques-of-primary-market-research" title="Methods/techniques of primary market research">Methods/techniques of primary market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44693/methodstechniques-of-secondary-market-research" title="Methods/techniques of secondary market research">Methods/techniques of secondary market research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44694/qualitative-quantitative-research" title="Qualitative & quantitative research">Qualitative & quantitative research</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44695/methods-of-sampling" title="Methods of sampling">Methods of sampling</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45531/44-true-or-false-quiz" title="4.4 True or False Quiz">4.4 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43712/44-glossary-of-key-terms" title="4.4 Glossary of key terms">4.4 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44720/45-the-seven-ps-of-the-marketing-mix" title="4.5 The seven Ps of the marketing mix">4.5 The seven Ps of the marketing mix</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44740/451-product" title="4.5.1 Product">4.5.1 Product</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44741/the-product-life-cycle" title="The product life cycle">The product life cycle</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44745/extension-strategies" title="Extension strategies">Extension strategies</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44981/relationship-between-the-plc-investment-profit-cash-flow" title="Relationship between the PLC, investment, profit & cash flow">Relationship between the PLC, investment, profit & cash flow</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44748/aspects-of-branding" title="Aspects of branding">Aspects of branding</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44757/the-importance-of-branding" title="The importance of branding">The importance of branding</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45766/starterplenary-activity-anagrams-quiz-brands" title="Starter/Plenary activity - Anagrams Quiz (Brands)">Starter/Plenary activity - Anagrams Quiz (Brands)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45957/starterplenary-activity-whats-in-a-brand-name" title="Starter/Plenary activity - What's in a (brand) name?">Starter/Plenary activity - What's in a (brand) name?</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43713/45-glossary-of-key-terms-product" title="4.5 Glossary of key terms (Product)">4.5 Glossary of key terms (Product)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42547/452-price" title="4.5.2 Price">4.5.2 Price</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43719/45-key-terms-price" title="4.5 Key Terms (Price)">4.5 Key Terms (Price)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44782/453-promotion" title="4.5.3 Promotion">4.5.3 Promotion</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44783/above-the-line-promotion" title="Above the line promotion">Above the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44795/below-the-line-promotion" title="Below the line promotion">Below the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44797/through-the-line-promotion" title="Through the line promotion">Through the line promotion</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44801/social-media-marketing" title="Social media marketing">Social media marketing</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43721/45-glossary-of-key-terms" title="4.5 Glossary of key terms">4.5 Glossary of key terms</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44803/454-place" title="4.5.4 Place">4.5.4 Place</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44804/the-importance-of-different-distribution-channels" title="The importance of different distribution channels">The importance of different distribution channels</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43722/45-glossary-of-key-terms" title="4.5 Glossary of key terms">4.5 Glossary of key terms</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44758/455-people" title="4.5.5 People">4.5.5 People</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44773/456-processes" title="4.5.6 Processes">4.5.6 Processes</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44774/457-physical-evidence" title="4.5.7 Physical evidence">4.5.7 Physical evidence</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44982/appropriate-marketing-mixes" title="Appropriate marketing mixes">Appropriate marketing mixes</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44697/46-international-marketing-hl" title="4.6 International marketing (HL)">4.6 International marketing (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44698/opportunities-threats-posed-by-entry-into-international-markets" title="Opportunities & threats posed by entry into international markets">Opportunities & threats posed by entry into international markets</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45537/46-true-or-false-quiz" title="4.6 True or False Quiz">4.6 True or False Quiz</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45736/46-glossary-of-key-terms" title="4.6 Glossary of key terms">4.6 Glossary of key terms</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43565/unit-5-operations-mgt" title="Unit 5 - Operations Mgt">Unit 5 - Operations Mgt</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44817/51-introduction-to-operations-management" title="5.1 Introduction to operations management">5.1 Introduction to operations management</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44818/the-role-of-operations-management" title="The role of operations management">The role of operations management</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44812/52-operations-methods" title="5.2 Operations methods">5.2 Operations methods</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44815/operations-methods" title="Operations methods">Operations methods</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44861/53-lean-production-quality-management-hl" title="5.3 Lean production & quality management (HL)">5.3 Lean production & quality management (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44864/features-of-lean-production" title="Features of lean production">Features of lean production</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44872/methods-of-lean-production" title="Methods of lean production">Methods of lean production</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44874/cradle-to-cradle-design-manufacturing" title="Cradle to cradle design & manufacturing">Cradle to cradle design & manufacturing</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44875/quality-control-quality-assurance" title="Quality control & quality assurance">Quality control & quality assurance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44876/methods-of-managing-quality" title="Methods of managing quality">Methods of managing quality</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44877/the-impact-of-lean-production-tqm" title="The impact of lean production & TQM">The impact of lean production & TQM</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44878/national-international-quality-standards" title="National & international quality standards">National & international quality standards</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44840/55-break-even-analysis" title="5.5 Break-even analysis">5.5 Break-even analysis</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44843/contribution" title="Contribution">Contribution</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44848/aspects-of-break-even-analysis" title="Aspects of break-even analysis">Aspects of break-even analysis</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44851/changes-in-price-and-costs" title="Changes in price and costs">Changes in price and costs</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44852/limitations-of-break-even-analysis" title="Limitations of break-even analysis">Limitations of break-even analysis</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44890/56-production-planning-hl" title="5.6 Production planning (HL)">5.6 Production planning (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44902/the-local-global-supply-chain-process" title="The local & global supply chain process">The local & global supply chain process</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44922/the-difference-between-jit-jic" title="The difference between JIT & JIC">The difference between JIT & JIC</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44931/stock-control-charts" title="Stock control charts">Stock control charts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44970/capacity-utilization-rate" title="Capacity utilization rate">Capacity utilization rate</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45125/defect-rate" title="Defect rate">Defect rate</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43832/productivity" title="Productivity">Productivity</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45187/cost-to-buy-cost-to-make" title="Cost to buy & Cost to make">Cost to buy & Cost to make</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/46353/sinterklaas-putting-ctb-vs-ctm-into-practice" title="Sinterklaas - Putting CTB vs CTM into practice">Sinterklaas - Putting CTB vs CTM into practice</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45242/57-crisis-management-contingency-planning-hl" title="5.7 Crisis management & contingency planning (HL)">5.7 Crisis management & contingency planning (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45243/difference-between-crisis-management-contingency-planning" title="Difference between crisis management & contingency planning">Difference between crisis management & contingency planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45268/impact-of-contingency-planning" title="Impact of contingency planning">Impact of contingency planning</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45260/factors-that-affect-effective-crisis-management" title="Factors that affect effective crisis management">Factors that affect effective crisis management</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45554/57-true-or-false-quiz" title="5.7 True or False Quiz">5.7 True or False Quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45669/59-management-information-systems-hl" title="5.9 Management Information Systems (HL)">5.9 Management Information Systems (HL)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42633/data-analytics" title="Data analytics">Data analytics</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45861/database" title="Database">Database</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44966/cybersecurity-and-cybercrime" title="Cybersecurity and cybercrime">Cybersecurity and cybercrime</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45859/critical-infrastructures" title="Critical infrastructures">Critical infrastructures</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/46175/virtual-reality" title="Virtual reality">Virtual reality</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45862/the-internet-of-things" title="The internet of things">The internet of things</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45858/artificial-intelligence" title="Artificial intelligence">Artificial intelligence</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42634/big-data" title="Big data">Big data</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43392/customer-loyalty-programmes" title="Customer loyalty programmes">Customer loyalty programmes</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43395/digital-taylorism" title="Digital Taylorism">Digital Taylorism</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45671/data-mining" title="Data mining">Data mining</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45856/benefits-risks-ethical-implications-of-mis" title="Benefits, risks, & ethical implications of MIS">Benefits, risks, & ethical implications of MIS</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42640/bmt-" title="BMT ">BMT </a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42553/bmt-1-swot-analysis" title="BMT 1 - SWOT analysis">BMT 1 - SWOT analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42406/bmt-2-ansoff-matrix" title="BMT 2 - Ansoff matrix">BMT 2 - Ansoff matrix</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44027/bmt-3-steeple-analysis" title="BMT 3 - STEEPLE analysis">BMT 3 - STEEPLE analysis</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42577/bmt-4-boston-consulting-group-matrix" title="BMT 4 - Boston Consulting Group matrix">BMT 4 - Boston Consulting Group matrix</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42956/bmt-5-business-plans" title="BMT 5 - Business plans">BMT 5 - Business plans</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43606/bmt-6-decision-trees" title="BMT 6 - Decision trees">BMT 6 - Decision trees</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42362/bmt-7-descriptive-statistics" title="BMT 7 - Descriptive statistics">BMT 7 - Descriptive statistics</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42226/bmt-8-circular-business-models" title="BMT 8 - Circular Business Models">BMT 8 - Circular Business Models</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43605/bmt-9-gantt-chart-hl-only" title="BMT 9 - Gantt chart (HL only)">BMT 9 - Gantt chart (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42214/bmt-10-porters-generic-strategies-hl-only" title="BMT 10 - Porter's generic strategies (HL only)">BMT 10 - Porter's generic strategies (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42216/bmt-11-hofstedes-cultural-dimensions-hl-only" title="BMT 11 - Hofstede's cultural dimensions (HL only)">BMT 11 - Hofstede's cultural dimensions (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42372/bmt-12-force-field-analysis-hl-only" title="BMT 12 - Force field analysis (HL only)">BMT 12 - Force field analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42375/bmt-13-critical-path-analysis-hl-only" title="BMT 13 - Critical path analysis (HL only)">BMT 13 - Critical path analysis (HL only)</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42344/bmt-14-contribution-hl-only-" title="BMT 14 - Contribution (HL only) ">BMT 14 - Contribution (HL only) </a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42311/bmt-15-simple-linear-regression-hl-only" title="BMT 15 - Simple linear regression (HL only)">BMT 15 - Simple linear regression (HL only)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42758/concepts" title="Concepts">Concepts</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43633/creativity" title="Creativity">Creativity</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43631/ethics" title="Ethics">Ethics</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43435/sustainability" title="Sustainability">Sustainability</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43668/change" title="Change">Change</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/42836/ia-" title="IA ">IA </a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44415/formulating-suitable-ia-questions" title="Formulating suitable IA questions">Formulating suitable IA questions</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/47685/supporting-documents-for-the-ia" title="Supporting documents for the IA">Supporting documents for the IA</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/47840/top-tips-for-the-ia-primary-research" title="Top tips for the IA – Primary research">Top tips for the IA – Primary research</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44047/50-sample-ia-research-questions" title="50+ Sample IA research questions">50+ Sample IA research questions</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/46719/recommended-format-for-the-ia" title="Recommended format for the IA">Recommended format for the IA</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43603/exams" title="Exams">Exams</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44091/paper-1" title="Paper 1">Paper 1</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 2">Paper 2</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/46637/01-ikea" title="01 - IKEA">01 - IKEA</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45839/quantitative-techniques" title="Quantitative techniques">Quantitative techniques</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/46025/abbreviations-quiz" title="Abbreviations Quiz">Abbreviations Quiz</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/43740/command-terms" title="Command terms">Command terms</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/45612/glossary-of-key-terms" title="Glossary of key terms">Glossary of key terms</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33955/the-core" title="The Core">The Core</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/34902/cas-bm" title="CAS & BM">CAS & BM</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21665/the-ee" title="The EE">The EE</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21934/the-bm-extended-essay" title="The BM Extended Essay">The BM Extended Essay</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/32857/ee-planning-form" title="EE Planning form">EE Planning form</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/37390/managing-the-ee-process" title="Managing the EE process">Managing the EE process</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/37496/top-10-tips-for-the-bm-ee" title="Top 10 tips for the BM EE">Top 10 tips for the BM EE</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21930/70-top-bm-ee-research-questions" title="70 top BM EE Research Questions">70 top BM EE Research Questions</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22196/tools-techniques-theories-for-the-ee" title="Tools, techniques & theories for the EE">Tools, techniques & theories for the EE</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/44048/the-triple-bottom-line" title="The triple bottom line">The triple bottom line</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21836/understanding-the-assessment-criteria" title="Understanding the assessment criteria">Understanding the assessment criteria</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/37960/reflections-and-engagement-in-the-ee" title="Reflections and engagement in the EE">Reflections and engagement in the EE</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/41874/the-mandatory-reflection-sessions" title="The mandatory reflection sessions">The mandatory reflection sessions</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/37659/top-10-tips-for-completing-the-rppf" title="Top 10 Tips for completing the RPPF">Top 10 Tips for completing the RPPF</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/21945/academic-integrity-the-ee" title="Academic Integrity & the EE">Academic Integrity & the EE</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/37573/citation-and-referencing" title="Citation and Referencing">Citation and Referencing</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/39260/ee-checklist" title="EE Checklist">EE Checklist</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/25192/tok-bm" title="TOK & BM">TOK & BM</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22100/misc" title="Misc">Misc</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/22208/how-well-do-you-know-the-bm-course" title="How well do you know the BM course?">How well do you know the BM course?</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Distance Learning">Distance Learning</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/39730/financial-literacy-simulation-game" title="Financial literacy simulation game">Financial literacy simulation game</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/34551/starter-activities-business-management-trivia-quizzes" title="Starter Activities - Business Management Trivia Quizzes">Starter Activities - Business Management Trivia Quizzes</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/33511/glossary-of-key-terms-index" title="Glossary of key terms - index">Glossary of key terms - index</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36815/revision-key-terms" title="Revision - Key terms">Revision - Key terms</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36818/unit-1-key-terms-business-organization-environment" title="Unit 1 Key terms - Business organization & environment">Unit 1 Key terms - Business organization & environment</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36871/unit-2-key-terms-human-resource-management" title="Unit 2 Key terms - Human Resource Management">Unit 2 Key terms - Human Resource Management</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36874/unit-3-key-terms-finance-accounts" title="Unit 3 Key terms - Finance & accounts">Unit 3 Key terms - Finance & accounts</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36882/unit-4-key-terms-marketing-" title="Unit 4 Key terms - Marketing ">Unit 4 Key terms - Marketing </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/36887/unit-5-key-terms-operations-management" title="Unit 5 Key terms - Operations management">Unit 5 Key terms - Operations management</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/businessmanagement/page/38055/entrepreneurs-leaders-quiz" title="Entrepreneurs & Leaders Quiz">Entrepreneurs & Leaders Quiz</a></li></ul></ul></nav> </div> </div> </div> </div><div style="margin-top: 20px;"><style type="text/css">
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<div id="main-column" class="span9"> <article id="depreciation-hl" style="margin-top: 16px;">
<h1 class="section-title">Depreciation (HL)</h1>
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<div class="panel panel-purple"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Methods of depreciation (AO2, AO4) (HL only)</strong></p><p><strong>Appropriateness of each depreciation method (AO3) (HL only)<span style="font-family:arial,helvetica,sans-serif;"></span></strong></p></div></div><div class="panel-body"><div><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Depreciation</strong> refers to the fall in the value of a fixed asset (also known as a non-current asset). As a <span style="font-family:arial,helvetica,sans-serif;">non-current </span>asset is used over and over, its value drops due to wear and tear (usage and natural ageing). In addition, newer and better models and/or improved technologies become available, further depreciating the value of older assets such as computer equipment.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="/media/ib/businessmanagement/images/computers.jpg" style="width: 260px; height: 188px;" /></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>The value of computer equipment depreciates over time</em></span></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;">Depreciation is not materialized until the asset is actually sold, so there is no actual cash outflow when the value of a <span style="font-family:arial,helvetica,sans-serif;">non-current </span> asset declines over time. Instead, depreciation is recorded in the <a href="businessmanagement/page/44577/profit-loss-account" title="New syllabus 2022 » Unit 3 - Finance and Accounts » 3.4 Final accounts » Profit & loss account">profit and loss account</a> as a business expense and on the <a href="businessmanagement/page/44579/balance-sheets" title="New syllabus 2022 » Unit 3 - Finance and Accounts » 3.4 Final accounts » Balance sheets">balance sheet</a> to reflect the fall in the market value of the asset. Failing to account for depreciation will result in the firm’s <span style="font-family:arial,helvetica,sans-serif;">non-current </span>assets being over-valued.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Depreciation occurs mainly because of wear and tear. <span style="font-family:arial,helvetica,sans-serif;">Non-current </span>assets, such as motor vehicles, tools and machinery fall in value over time because they are used (second hand), so do not perform as well. They also may become obsolete (or outdated) because newer models and improved technologies become available over time.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">However, many used assets can be sold for a second hand value, known as a <strong>residual</strong> <strong>value</strong> (or <strong>scrap value </strong>or <strong>salvage value</strong>). This is the value of the <span style="font-family:arial,helvetica,sans-serif;">non-current </span>asset at the end of its useful life, before it is replaced. In some cases, the degree of wear and tear or the availability of newer technologies mean the residual value of the asset is zero.</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="194" src="/media/ib/businessmanagement/images/depreciation.png" width="270" /></span></p><p><span style="color:#696969;"><span style="font-family:arial,helvetica,sans-serif;"><em>Not all assets have a residual value</em></span></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> Watch this video clip about five new cars which depreciate in value quickly:</span><br /><span style="font-family:arial,helvetica,sans-serif;"></span></p><h4><span style="font-family:arial,helvetica,sans-serif;"><iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/9acknhcDUFo" width="640"></iframe></span></h4><div class="yellowBg"><h5><span style="font-family:arial,helvetica,sans-serif;"><span style="color:#FF0000;"><span class="snippet-fa fa fa-lightbulb-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Top tip!</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Do not mistake the term <strong>depreciation </strong>in the contexts of <em>finance and accounts</em> (Unit 3) and the <em>economic environment</em> (<a href="businessmanagement/page/44027/bmt-3-steeple-analysis" title="New syllabus 2022 » Business Management Toolkit (BMT) » BMT 3 - STEEPLE analysis">STEEPLE analysis</a>). In the context of finance and accounts, the term refers to the fall in the value of a fixed (non-current) asset. When referring to depreciation in the economic environment, it means a fall in the value of a country’s currency or its exchange rate.</span></p></div><p><span style="font-family:arial,helvetica,sans-serif;">There are two methods of measuring depreciation mentioned in the IB guide:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">the straight line method, and</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">the units of production method.</span></p></li></ul><section class="tib-hiddenbox"><p><span style="color:#FF0000;">Note: the reducing balance method is no longer featured in the syllabus, so do watch out for this when referring to previous examination questions and mark schemes (up to and including November 2023).</span></p></section></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-purple"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong><span style="font-family:arial,helvetica,sans-serif;">Straight line method (AO2, AO4)</span></strong></p></div></div><div class="panel-body"><div><p><span style="color:#696969;">For this section of the syllabus, students need to understand the straight line method (AO2, AO4) and the appropriateness of this depreciation method (AO3).</span></p><p><span style="font-family:arial,helvetica,sans-serif;">The most straightforward way to account for depreciation is the <strong>straight line</strong> method. This simply spreads the depreciation evenly over the useful life of the non-current asset being depreciated. Hence, the value of the asset falls by equal amounts each year.</span></p><p><span style="font-family:arial,helvetica,sans-serif;">For example, if a business bought a new delivery van for $30,000 and expects to use it for 5 years, by which time the vehicle has no market value, then the annual depreciation is: $30,000 ÷ 5 = $6,000 per year. This means the value of the delivery van drops by $6,000 each year for 5 years, until it has no monetary value to the business. This can be shown in the table below:</span></p><table border="0" cellpadding="0" cellspacing="0" width="299"><colgroup><col width="69" /><col width="120" /><col width="110" /></colgroup><tbody><tr height="19"><td class="xl63" height="19" style="height: 14.4pt; width: 52pt; text-align: center;" width="69"><strong>Year end</strong></td><td class="xl63" style="width: 90pt; text-align: center;" width="120"><strong>Deprecation ($)</strong></td><td class="xl63" style="width: 82pt; text-align: center;" width="110"><strong>Book value ($)</strong></td></tr><tr height="19"><td class="xl63" height="19" style="height: 14.4pt; width: 52pt; text-align: center;" width="69">0</td><td class="xl64" style="width: 90pt; text-align: center;" width="120"></td><td class="xl63" style="width: 82pt; text-align: center;" width="110">$30,000</td></tr><tr height="19"><td class="xl63" height="19" style="height: 14.4pt; width: 52pt; text-align: center;" width="69">1</td><td class="xl63" style="width: 90pt; text-align: center;" width="120">$6,000</td><td class="xl63" style="width: 82pt; text-align: center;" width="110">$24,000</td></tr><tr height="19"><td class="xl63" height="19" style="height: 14.4pt; width: 52pt; text-align: center;" width="69">2</td><td class="xl63" style="width: 90pt; text-align: center;" width="120">$6,000</td><td class="xl63" style="width: 82pt; text-align: center;" width="110">$18,000</td></tr><tr height="19"><td class="xl63" height="19" style="height: 14.4pt; width: 52pt; text-align: center;" width="69">3</td><td class="xl63" style="width: 90pt; text-align: center;" width="120">$6,000</td><td class="xl63" style="width: 82pt; text-align: center;" width="110">$12,000</td></tr><tr height="19"><td class="xl63" height="19" style="height: 14.4pt; width: 52pt; text-align: center;" width="69">4</td><td class="xl63" style="width: 90pt; text-align: center;" width="120">$6,000</td><td class="xl63" style="width: 82pt; text-align: center;" width="110">$6,000</td></tr><tr height="19"><td class="xl63" height="19" style="height: 14.4pt; width: 52pt; text-align: center;" width="69">5</td><td class="xl63" style="width: 90pt; text-align: center;" width="120">$6,000</td><td class="xl63" style="width: 82pt; text-align: center;" width="110">$0</td></tr></tbody></table><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;">The book value is the value of the asset that is recorded in the <a href="businessmanagement/page/44579/balance-sheets" title="New syllabus 2022 » Unit 3 - Finance and Accounts » 3.4 Final accounts » Balance sheets">balance sheet</a><span style="font-family:arial,helvetica,sans-serif;">.</span></span></p><p><span style="font-family:arial,helvetica,sans-serif;">Diagrammatically, the book value falls by the depreciated value each year (it should become clear now why this method is called the straight line method, as illustrated below).</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" height="244" src="data:image/png;base64,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" width="470" /></span></p><hr class="hidden" /><p><span style="font-family:arial,helvetica,sans-serif;">The formula for calculating depreciation using the straight line method is:</span></p><div class="greenBg"><div><p align="center" style="margin-left:22.5pt;"><span style="font-family:arial,helvetica,sans-serif;"><strong>Annual depreciation = <u>Purchase cost – Residual value</u></strong></span></p><p><span style="font-family:arial,helvetica,sans-serif;"><strong> Useful lifespan</strong></span></p></div></div><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 the straight line method</span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Advantages of the straight line method of calculating depreciation include:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">The ease of calculating depreciation, as the same amount is deducted each year.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It is suitable for depreciating assets that have a known useful shelf-life and can be estimated accurately.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It is also suitable for assets that have a consistent usage rate over the lifetime of the asset, e.g. furniture or automated machinery.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It is also easier to depreciate the value of assets until their scrap value is zero.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">As the same amount is charged to the profit and loss account each year, it is easier to make historical comparisons of the data.</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 the straight line method</span></h5><p><span style="font-family:arial,helvetica,sans-serif;">Disadvantages of the straight line method of calculating depreciation include:</span></p><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;">Many fixed assets, such as motor vehicles and computers, depreciate in value the most during the initial stages of their useful shelf life. Hence, using a uniform depreciation value can be misleading and inaccurate.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">In addition, many assets do not depreciate consistently as they become less efficient over time. For example, machinery, computers and vehicles tend to have higher repair costs over time.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">It is not suitable or useful if the functional life span of the asset cannot be estimated accurately.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">Scrap values are only estimates of the future value of an asset. This makes the provisions for depreciation less accurate.</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-pencil-square-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Exam-style question</span></span></h5><p><span style="font-family:arial,helvetica,sans-serif;"><em>STC</em> recently paid $380,000 for a set of new photocopiers. The machines are expected to be replaced in 5 years’ time, and have an expected residual value of $50,000. Calculate the annual depreciation for <em>STC. </em><em>[2 marks]</em></span></p><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="https://assets.inthinking.net/thinkib/icons/teacher-only.svg" /> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;"><strong><span style="font-family:arial,helvetica,sans-serif;">Answer</span></strong></span></p><ul class="branded"><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Annual depreciation = ($380,000 – $50,000) / 5 years</span></span></p></li><li><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Annual depreciation = 330,000 / 5 = </span></span><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><strong>$66,000 per year</strong></span></span></p></li></ul><p><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;">Award <em>[1 mark]</em> for the correct answer, and <em>[1 mark] </em>for the correct working out.</span></span></p></div></section></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-purple"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Units of production method (AO2, AO4)</strong></p></div></div><div class="panel-body"><div><p><span style="color:#696969;">For this section of the syllabus, students need to understand the units of production method (AO2, AO4) and the appropriateness of this depreciation method (AO3).</span></p><p>The <strong>units of production method</strong> of depreciation apportions an equivalent value of depreciation to a non-current asset based on each physical unit of output. Hence, this method calculates depreciation based on the units of usage rather than time (as used for the straight line method). This means that the depreciation expense will be higher during years when there is a greater usage (due to favourable business activities) and lower during years when the asset is used less.</p><p>For example, a taxi vehicle would depreciate more with a higher mileage (the unit of measurement of output or usage). Whilst a taxi would also depreciate with time, it is more realistic to base the fall in the value of the vehicle based on mileage or usage, rather than time. The same would apply to other non-current assets such as delivery vehicles, office printers, photocopiers, coffee machines, and other such equipment and machinery.</p><p>There are two steps needed to calculate depreciation using the units of production method:</p><p>1. Calculate the<strong> units of production rate</strong> (also known as the depreciation per unit):</p><div class="box"><p style="text-align: center;"><strong>Units of production rate = (Cost of asset – Salvage value) / Estimated units of production</strong></p></div><p>2. Calculate the <strong>depreciation expense</strong>:</p><div class="box"><p style="text-align: center;"><strong>Depreciation expense = Units of production rate × Actual units produced</strong></p></div><h5><span style="font-family:arial,helvetica,sans-serif;"></span></h5><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-pencil-square fa-lg" style="color: rgb(61, 30, 128);"> </span> Worked example</span></span></h5><p>Suppose a firm has purchased a new photocopier for $5,000 with a scrap value of $500 in 5 years' time when it is expected to be replaced. The total expected units of production (output from the machine) is 300,000.</p><p>The<strong> </strong>units of production rate (or the depreciation per unit) for the firm is calculated as:</p><ul class="branded"><li><p>($5,000 – $500) / 300,000</p></li><li><p>$4,500 / 300,000 = $0.015</p></li></ul><p>Therefore, if the firm produced 60,000 units of output from the photocopier in Year 1, the depreciation expense would be:</p><ul class="branded"><li><p>$0.015 × 60,000 = <strong>$900</strong></p></li></ul><p>If the firm produced 90,000 units of output from the photocopier in Year 2, the depreciation expense would be:</p><ul class="branded"><li><p>$0.015 × 90,000 = <strong>$1,350</strong></p></li></ul><p>Hence, the greater the level of production, the higher the depreciation expense.</p></div><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 units of production depreciation</span></h5><p> The advantages of using the units of production method of depreciating non-current assets include:</p><ul class="branded"><li><p>For many businesses, it is more realistic or accurate to use this method to depreciate the value of an asset due to its usage than just the passing of time. In particular, it works well for businesses that use machinery or capital equipment to manufacture a product.</p></li><li><p>Similarly, this method is more accurate for non-current assets that depreciate directly due to wear and tear, rather than the passage of time which eventually makes the product obsolete.</p></li><li><p>It is useful for manufacturers the experience fluctuation in production, based on changes in consumer demand over time.</p></li></ul><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 units of production depreciation</span></h5><p>The limitations of using the units of production method of depreciating non-current assets include:</p><ul class="branded"><li><p>It is more complicated to calculate than the straight line method of depreciation.</p></li><li><p>There is so degree of subjectivity as the salvage value is subject to change and the estimated units of production is exactly that - an estimate only. Over- or under-estimating the figures will make the depreciation expense less accurate.</p></li><li><p>Many tax authorities (such as the IRS in the US) do not allow the units of production depreciation method to be used for tax purposes. Hence, this method is primarily used for internal bookkeeping (accounting records).</p></li></ul><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-pencil-square-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Exam Practice Question 1</span></span></h5><p>Use the information in the table below for Firm X to calculate the depreciation expense using the units of production method.<em> [2 marks]</em></p><table><tbody><tr><td style="text-align: center;"><strong>Asset</strong></td><td style="text-align: center;"><strong>Cost ($)</strong></td><td style="text-align: center;"><strong>Salvage ($)</strong></td><td style="text-align: center;"><strong>Estimated output</strong></td><td style="text-align: center;"><strong>Actual output</strong></td></tr><tr><td style="text-align: center;">Printer</td><td style="text-align: center;">10,000</td><td style="text-align: center;">800</td><td style="text-align: center;">200,000</td><td style="text-align: center;">180,000</td></tr></tbody></table><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="https://assets.inthinking.net/thinkib/icons/teacher-only.svg" /> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;"><strong>Answer</strong></span></p><p><span style="color:#FF0000;">First, calculate the units of production rate:</span></p><ul class="branded"><li><p><span style="color:#FF0000;">($10,000 – $800) / 200,000</span></p></li><li><p><span style="color:#FF0000;">$9,200 / 200,000 = $0.046</span></p></li></ul><p><span style="color:#FF0000;">Now calculate depreciation expense:</span></p><ul class="branded"><li><p><span style="color:#FF0000;">$0.046 <span lang="EN-HK" style="font-size:12.0pt;font-family:
"Arial",sans-serif;mso-fareast-font-family:PMingLiU;mso-ansi-language:EN-HK;
mso-fareast-language:ZH-TW;mso-bidi-language:AR-SA">×</span> 180,000 = <strong>$8,280</strong></span></p></li></ul><p><span style="color:#FF0000;">Award<em> [1 mark]</em> for the correct answer] and a further <em>[1 mark]</em> for showing the working out in a clear way. Apply the own figure rule (error carried forward) as appropriate.</span></p></div></section></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-pencil-square-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Exam Practice Question 2</span></span></h5><p>A large publishing company purchases a new industrial printer for $7,500. The publisher estimates the new industrial printer will have a salvage value of $1,200 and a useful life of 500,000 high-quality pages. During the first year of use, the publisher prints 25,000 pages.</p><p>Using the units of production method, calculate the depreciation expense of the industrial printer at the end of the first year. <em>[2 marks]</em></p><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="https://assets.inthinking.net/thinkib/icons/teacher-only.svg" /> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;"><strong>Answer</strong></span></p><ul class="branded"><li><p><span style="color:#FF0000;">Depreciation rate = ($7,500 – $1,200) / 500,000 pages = $0.0126 per page</span></p></li><li><p><span style="color:#FF0000;"> Units of production deprecation (Year 1) = $0.0126 × 25,000 pages = <strong>$315</strong></span></p></li></ul><p><span style="color:#FF0000;">Award<em> [1 mark]</em> for the correct answer] and a further <em>[1 mark]</em> for showing the working out in a clear way. Apply the own figure rule (error carried forward) as appropriate.</span></p></div></section></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-pencil-square-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Exam Practice Question 3</span></span></h5><p>At the beginning of the trading year, Siby Thomas Inc. paid $500,000 for a new management information system (MIS). The company expects to use the new MIS for 5,000 hours, i.e., approximately 1,000 hours per year for 5 years. It expects to be able to sell the MIS for $100,000 thereafter.</p><p>Using the units of production method, calculate the depreciation expense for the first year if Siby Thomas Inc. uses the MIS for 1,500 hours. <em>[2 marks]</em></p><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="https://assets.inthinking.net/thinkib/icons/teacher-only.svg" /> Teacher only box</div><div class="content" readonly="false"><p><span style="color:#FF0000;"><strong>Answer</strong></span></p><ul class="branded"><li><p><span style="color:#FF0000;">Depreciation rate = ($500,000 – $100,000) / 5,000 hours = $80 per hour</span></p></li><li><p><span style="color:#FF0000;"> Units of production deprecation (Year 1) = $80 × 1,500 hours = <strong>$120,000</strong></span></p></li></ul><p><span style="color:#FF0000;">Award<em> [1 mark]</em> for the correct answer] and a further <em>[1 mark]</em> for showing the working out in a clear way. Apply the own figure rule (error carried forward) as appropriate.</span></p></div></section></div><div class="yellowBg"><h5><span style="color:#FF0000;"><span style="font-family:arial,helvetica,sans-serif;"><span class="snippet-fa fa fa-pencil-square-o fa-lg" style="color: rgb(103, 7, 124);"> </span> Exam Practice Question 4</span></span></h5><p>A business has just purchased a large office photocopier for $3,500. The machine is expected to last for 4 years and produce 1.8 million copies. The expected scrap value is $500.</p><table border="0" cellpadding="0" cellspacing="0" width="759"><colgroup><col width="38" /><col width="646" /><col width="75" /></colgroup><tbody><tr height="19"><td height="19" style="height:14.5pt;width:29pt" width="38">(a)</td><td style="width:485pt" width="646">Calculate the per unit depreciation rate for the business. <em>Express your answer to 4 decimal places.</em></td><td class="xl65" style="width:56pt" width="75"><em>[2 marks]</em></td></tr><tr height="19"><td height="19" style="height:14.5pt">(b)</td><td>Calculate the depreciation expense if the business makes 500,000 copies during the year.</td><td class="xl65"><em>[2 marks]</em></td></tr></tbody></table><section class="tib-teacher-only" readonly="true" title="This box is not visible to students"><div class="header" readonly="true"><img class="icon" src="https://assets.inthinking.net/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) Calculate the per unit depreciation rate for the business (to 4 d.p.) <em>[2 marks]</em></strong></p><p><span style="color:#FF0000;">Depreciation charge per unit = ($3,500 – $500) / 1,800,000 = $0.0017</span></p><p><span style="color:#FF0000;">Award <em>[1 mark] </em>for the showing appropriate working out and a further <em>[1 mark] </em>for the correct answer.</span></p><hr class="hidden" /><p><strong>(b) Calculate the depreciation expense if the firm makes 500,000 copies during the year. <em>[2 marks]</em></strong></p><p><span style="color:#FF0000;">Depreciation charge = $0.00166' × 500,000 = $833.33</span></p><p><span style="color:#FF0000;">Accept answers that show depreciation charge = $0.0017 × 500,000 = $850</span></p><p><span style="color:#FF0000;">Apply the Own Figure Rule (OFR) as appropriate (error carried forward).</span></p><p><span style="color:#FF0000;">Award <em>[1 mark] </em>for the showing appropriate working out and a further <em>[1 mark] </em>for the correct answer.</span></p></div></section></div></div></div><div class="panel-footer"><div></div></div></div><div class="panel panel-expandable panel-purple"><div class="panel-heading"><a class="expander pull-right" href="#"><span class="fa fa-plus"></span></a><div><p><strong>Key terms</strong></p></div></div><div class="panel-body"><div><ul class="branded"><li><p><span style="font-family:arial,helvetica,sans-serif;"><strong>Depreciation</strong> refers to the fall in the value of a fixed asset. As a fixed asset is used over and over, its value drops due to wear and tear.</span></p></li><li><p><span style="font-family:arial,helvetica,sans-serif;">The <strong>residual</strong> <strong>value</strong> (also known as <strong>salvage value </strong>or <strong>scrap value</strong>) is the monetary value of a <span style="font-family:arial,helvetica,sans-serif;">non-current </span>asset at the end of its useful life, before it is replaced.</span></p></li><li><p>The <strong>straight line method</strong> of depreciation spreads the depreciation value evenly over the useful life of the non-current asset being depreciated. Hence, the value of the asset falls by equal amounts each year.</p></li><li><p>The <strong>units of production method</strong> calculates depreciation based on the units of usage rather than time.</p></li></ul></div></div><div class="panel-footer"><div></div></div></div><p><span style="font-family:arial,helvetica,sans-serif;">Return to the <a href="businessmanagement/page/44492/34-final-accounts" title="New syllabus 2022 » Unit 3 - Finance and Accounts » 3.4 Final accounts">Unit 3.4 - Final accounts (some HL only)</a> homepage</span></p><p><span style="font-family:arial,helvetica,sans-serif;">Return to the <a href="businessmanagement/page/43545/unit-3-finance-and-accounts" title="New syllabus 2022 » Unit 3 - Finance and Accounts">Unit 3 - Finance & accounts</a> homepage</span></p><p><span style="font-family:arial,helvetica,sans-serif;"><img alt="" src="/media/ib/businessmanagement/logo-blue-black.png" style="width: 170px; height: 54px;" /></span></p><script>document.querySelectorAll('.tib-teacher-only').forEach(e => e.remove());</script>
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