IB Business Management Unit 1 Scheme of Work PDF

IB Business Management Unit 1: Introduction to Business Management – Scheme of Work IB Business Management: IBBusinessManagement.com Scheme of Work UNIT 1: INTRODUCTION TO BUSINESS MANAGEMENT UNIT 1: INTRO...

IB Business Management Unit 1: Introduction to Business Management – Scheme of Work IB Business Management: IBBusinessManagement.com Scheme of Work UNIT 1: INTRODUCTION TO BUSINESS MANAGEMENT UNIT 1: INTRODUCTION TO BUSINESS MANAGEMENT – THEORY OF KNOWLEDGE QUESTIONS 1 Is business decision-making art or science? 2 Do we have self-evident beliefs about what the objectives of a business are or how a business operates? If so, which ones and how could we challenge them? 3 Most businesses desire to expand. What motivates the growth of a social organization like business? 4 How can we evaluate the benefits and drawbacks of globalisation, given the multitude of stakeholders it influences? 5 How do assumptions about what a business is and how a business works vary by industry and location, and what implications does this have for business actors? Student selection of ONE question: 500-word response Conceptual understandings: ▪ Change is essential for businesses to achieve their desired aims ▪ Creative business planning can lead to organisational success ▪ Ethical business behaviour improves a business’ image as well as customer loyalty ▪ Sustainable business practices can enhance a business’ existence Page 1|4  IB Business Management Unit 1: Introduction to Business Management – Scheme of Work UNIT 1: INTRODUCTION TO BUSINESS MANAGEMENT Time Content Learning activities Assessment 1.1 What is a business 1 week Explain the role of organisations in combining Simpson and Smith: IB Business Management: human, physical and financial resources to create Textbook: pp 2-14 a product. Activities A – C PPT presentation and Exam practice question Analyse the main business functions: human summary notes resources, finance, marketing and operations. Quizzes Textbook questions: Exam style questions, Topic Test Explain the nature of business activity in the primary. pp 18, Questions 1- secondary, tertiary and quaternary sectors. 10. Explain and analyse the nature of business activity Videos in each sector and the impact of sectoral change Flash cards on business activity. Classroom games – Identify the reasons for starting a business, the Kahoot! common steps involved and likely challenges a new business may face. 1.2 Types of organisations 1 week Distinguish between organisations in the private Simpson and Smith: IB Business Management: sector and the public sector Textbook: pp 20-35 Activities A – D Distinguish between different types of profit-based PPT presentation and Exam practice question organisations: sole traders, partnerships, public and summary notes private companies, and cooperatives Quizzes Textbook questions: Topic Test Evaluate the most appropriate form of legal Exam style questions, organisation for different businesses pp 35, Questions 1- 10. Discuss the objectives of the following non-profit Videos organisations: non-governmental organisations (NGOs) and analyse the impact of their actions Flash cards Classroom games – Kahoot! 1.3 Business objectives 2 weeks Explain the purpose of mission statements and vision Simpson and Smith: IB Business Management: statements Page 2|4  IB Business Management Unit 1: Introduction to Business Management – Scheme of Work Activities A - H Explain the following business objectives: growth, Textbook: pp 36-58 profit, protecting shareholder value and ethical Exam practice question objectives PPT presentation and summary notes Quizzes Distinguish between aims, objectives, strategies and Textbook questions: Topic Test tactics and discuss how these interrelate Exam style questions, pp 58, Questions 1- Discuss why a firm's view of its social responsibilities 10. and strategies towards them may change over time Videos Flash cards Examine the reasons why organisations set ethical objectives and implement corporate social Classroom games – responsibility strategies Kahoot! Prepare a SWOT analysis for a business situation – BMT Analyse an organisation's position using a SWOT analysis – BMT Evaluate the need for firms to change their objectives over time Explain and apply the Ansoff Matrix as a strategic decision-making tool – BMT 1.4 Stakeholders 1 week Explain what is meant by 'stakeholder' Simpson and Smith: IB Business Management: Textbook: pp 61-71 Activities A and B Differentiate between internal and external stakeholders PPT presentation and Exam practice question summary notes Analyse and comment on business responsibilities to Quizzes stakeholders Textbook questions: Topic Test Exam style questions, Discuss possible areas of conflict between pp 71, Questions 1- stakeholders 10. Videos Evaluate ways in which conflicting stakeholder objectives might be recognised and responded to Shared Value article by business – Harvard Business School Flash cards Classroom games – Kahoot! Page 3|4  IB Business Management Unit 1: Introduction to Business Management – Scheme of Work 1.5 Growth and evolution 1 week Analyse the main types of economies and Simpson and Smith: IB Business Management: diseconomies of scale and apply these concepts to business decisions Textbook: pp 72-99 Activities A – D PPT presentation and Exam practice question Evaluate the relative merits of small versus large summary notes organisations Quizzes Textbook questions: Topic Test Recommend an appropriate scale of operation Exam style questions, pp 99, Questions 1- Explain the difference between internal and 10. external growth Videos Evaluate franchising, joint ventures, strategic Flash cards alliances, mergers and takeovers as external Classroom games – methods of growth Kahoot! Analyse the advantages and disadvantages of franchising and evaluate it as a growth strategy Evaluate internal and external growth strategies as methods of expansion 1.6 Multinational companies 1 week Explain what a multinational company is Simpson and Smith: IB Business Management: Textbook: pp 92-104 Activities A – B Describe the characteristics of economically less developed countries that attract FDI, including low PPT presentation and Exam practice question cost factor inputs, a regulatory framework that summary notes favours profit repatriation, and favourable tax rules. Quizzes Textbook questions: Topic Test Evaluate the impact of MNCs on their host countries Exam style questions, pp 104, Questions 1- 10. Videos Flash cards Classroom games – Kahoot! Formative Assessment: Unit 1: Introduction to Business Management – Formal assessment test Page 4|4