Sl Business-End of Course Review Sheet-final Homework Task-due Friday 25th April 2014 (3)

8/10/2019 Sl Business-End of Course Review Sheet-final Homework Task-due Friday 25th April 2014 (3)

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IB SL BUSINESS & MANAGEMENT

END OF COURSE REVIEW BOOKLET

A COMPREHENSIVE REVIEW OF

SL BUSINESS & MANAGEMENT.Final Homework Task: Date Due: Friday 25

thApril 2014.

1.1 NATURE & ORGANIZATION OF BUSINESS


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Option 1: Business Factors, Functions & Sectors

1. Name the four factors of production. (p7) (4 marks)

2. Name the four major functions of business. (p8) (4 marks)

3. What are the four main business sectors? (p8-9) (4 marks)

4. Identify three reasons for starting a business (p10) (3 marks)

Option 2: Getting Started in Business - Types of Business Organizations

1. Explain the difference between a public & a private company. (p10) (2 marks)

2. Identify four problems that may be faced by new businesses. (p11) (4 marks)

3. Draw a market map for cars in the United States. (p10) (3 marks)

4. In a paragraph response clearly explain the difference between a sole trader

a partnershipand a company. Identify one advantage and one disadvantage

of each structure. (p12-13) (6 marks)

1.2 OBJECTIVES, STAKEHOLDERS & THE EXTERNAL ENVIRONMENT (SL)

Option 3: Business Objectives

1 What is a Smart Objective? (Each letters stands for) p19 (5 marks)

2. Identify any three common business objectives. (p20-21) (3 marks)

3. Draw a flow chart for a Hierarchy of Objectives? (p25-26) (5 marks)

4. What is MOST analysis? (p26) (2 marks)


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Option 4: Mission & Vision Statements / Strategies & Tactics

1 Cleary explain the difference between a mission & vision statement. (p26-27) (3 marks)

2. Identify four steps in creating a successful mission statement? (p30) (4 marks)

3. Identify three steps in creating a successful vision statement? (p30) (3 marks)

4. In a paragraph response clearly explain the difference between strategic (5 marks)

objectives and tactical objectives? (p32-33)

Option 5: Business Ethics

1 What do we mean by ethical objectives? (p34) (2 marks)

2. Identify four stages in developing an ethical policy. (p35) (4 marks)

3. Define the term Corporate Social Responsibility? (CSR) (p38) (3 marks)

4. Identify four reasons why businesses should act in a socially responsible (4 marks)

manner? (p39)

5. What is social auditing? (p39-40) (2 marks)

Option 6: Stakeholders

1. Identify three internal stakeholders (p42) (3 marks)

2. Identify six external stakeholders (p42-43) (6 marks)

3. Which stakeholder do you think is the most important? Why? (3 marks)

4. Explain three reasons why government or government agencies are

stakeholders in all types of businesses? (3 marks)


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Option 7: The External Environment

1. Explain what is meant by PESTLE & STEEPLE analysis.

Provide three relevant issues under each category in the framework. (15 marks)

(p46-51)

1.3 ORGANIZATIONAL PLANNING & DECISION MAKING

Option 8: Organizational Planning Tools

1. Identify five different purposes of a business plan (p52) (5 marks)

2. List any five elements of a business plan? (p53) (5 marks)

3. Identify five phases in the decision making framework? (p55) (5 marks)

Option 9: SWOT Analysis

1. What are the internal factors in SWOT analysis? (p66) (1 mark)

2. What are the external factors in SWOT analysis? (p66) (1 mark)

3. Identify three possible strengths a business could have? (p67) (3 marks)

4. Identify three possible weaknesses a business could have? (p67) (3 marks)

5. Identify three possible opportunities a business could face? (p68) (3 marks)

6. Identify three possible threats a business could face? (p68) (3 marks)

7. Explain the relationship between SWOT and PEST analysis? (p69) (1 mark)


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1.4 GROWTH & THE IMPACT OF GLOBALIZATION

Option 10: Economies of Scale & Diseconomies of Scale

1. Draw a graph to illustrate economies of scale and diseconomies of scale. (p70) (5 marks)

2. Identify and explain four major benefits associated with economies of scale. (p70) (8 marks)

3. Identify any two problems associated with diseconomies of scale (p71) (2 marks)

Option 11: Growth Through External Solutions

1. Clearly explain the difference betweenjoint ventures, strategic alliances

mergers & acquisitions Provide real examples from the business world to support yourresponse. (p72-p73) (5 marks)

2. In an extended response outline the advantages & disadvantages of franchisesfrom

the perspective of the franchisee and franchisor. (p74) (10 marks)

Option 12: The ANSOFF Matrix

1. Draw an ANSOFF Matrix. In an extended response clearly explain the meaning of allassociated terminology. Provide real examples from the business world to support

your response. (p75) (15 marks)

Option 13: Globalization & Multionational Corporations / Regional Trading Blocks

1. Define the term globalization (p77) (2 marks)

2. Identify five reasons why multinational corporations developed. (p77) (5 marks)

3. List four possible problems associated with MNCs in host countries. (p77) (4 marks)

4. Clearly explain the difference between a Free Trade Area, A Customs Union,

a Common Market and Economic & Monetary Union. (p78) (4 marks)


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2.1 HUMAN RESOURCE PLANNING

Option 14: The Supply of Labour / Training & Appraisal

1. Define the term Supply of Labor (p90) (2 marks)

2. Explain why organization might use a recruitment agency (p92) (2 marks)

3. Identify three different types of training and briefly explain the meaning of each. (p93) (6 marks)

4. List any five criteria an organization could use to evaluate employee performance (p94) (5 marks)

Option 15: Charles Handy & Relationship between workers & organizations

1. In an extended response, explain the concept of the SHAMROCK organization.

Clearly define all related terminology and provide practical examples from the business

world to support your response. (p97-99) (15 marks)

2.2 ORGANIZATIONAL STRUCTURE & COMMUNICATION

Option 16: Levels of Hierarchy & Communication

1. Explain the difference between the terms formal organization &

informal organization? (p101) (2 marks)

2. Explain the difference between a flat and tall organizational structure? (p102) (2 marks)

3. Draw a basic diagram to demonstrate your understanding of an organizational

chart (p103) (3 marks)

4. An extended response identify and explain 8different barriers to effectivecommunication. (p110-111) (8 marks)


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2.3 LEADERSHIP AND MANAGEMENT

Option 17: Four Major Leadership Styles

1. In an extended response, identify four major leadership styles. (p116-117) (15 marks)

* Clearly explain the meaning of each.

* Provide relevant examples from different countries & companies to support your

response.

* Refer to the Reach Out case study and comment on the different leadership styles

evident and how this impacts on the business.

2.4 MOTIVATION

Option 18: Core Motivation Theories

1. Explain the difference between intrinsic & extrinsic motivation. (p124) (2 marks)

2. What were the main ideas of Frederick Taylor on motivation? (p124) (2 marks)

3. Draw Maslows Hierarchy of Needs & provide relevant examples in each category. (4 marks)

(p125)

4. What is the difference between a Theory X and a Theory Y manager? (p126) (2 marks)

5. Outline the key ideas associated with Frederick Herbergs two factor theory on (3 marks)

motivation. (p127)

6. How is job enrichment different to job enlargement? (p127-128) (2 marks)

Option 19: Motivation in Practice (Different RemunerationPayment Method Strategies)

1. In an extended response on motivation in practice, complete the following:

(p131-p132) (15 marks)

Outline 8 different ways employees can be paid.

Explain how the pay method can impact on motivation.

Identify the possible impact on productivity of the payment method.


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3.1 SOURCES OF FINANCE

Option 20: Sources of Business FinanceAn Overview

1. Identify four different sources of internal finance for a business. (p147-150) (4 marks)

2. Explain why depreciation can be a source of finance for a business. (1 marks)

3. Identify four different sources of external finance (long term) for a business. (4 marks)

(p151-154)

4. Identify four different sources of external finance (short term) for a business. (4 marks)

(p154-155)

5. Explain the concept of factoring using your own practical example. (p154) (2 marks)

Option 21: Sources of Business FinanceAdvantages & Disadvantages

1. In an extended response outline the advantages & disadvantages of different finance

options. You must cover internal and external sources of finance from a long term

and short term perspective. (p146-156) (15 marks)

3.2 MANAGEMENT ACCOUNTING

Option 22: Investment Appraisal

1. A company will spend $200,000 on an initial investment.

The annual cash flow form the investment is $34,500. (3 marks)

Calculate the payback period. (p158)

2. A project will generate the following costs and revenues: (Average Rate of Returnp158/159)

Costs ($) Revenues ($) Net Revenues ($)

Year 0 250,000 0

Year 1 10,000 110,000Year 2 15,000 190,000

Year 3 20,000 200,0000

Year 4 25,000 195,000

Based on the following information calculate the Average Rate of Return for this project (12 marks)


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3.3 FINANCIAL ACCOUNTS & RATIO ANALYSIS

Option 23: Profit & Loss Account & Balance Sheet

Use the information below to construct a Profit & Loss & Balance Sheet for company XYZ. (15 marks)

(p166-167)

Note, that items from the Profit & Loss & Balance Sheet are arranged alphabetically in order below:

The tax rate is 15%.

Cash: 120,000

Cost of Sales: 25,000

Current Assets: 150,000

Current Liabilities: 18,000

Creditors: 15,000

Dividends 3,000

Fixed Assets: 255,000Gross Profit

Interest 10,000

Sales Revenue 595,000

Short Term Borrowing 14,000

Stock 10,000

Option 24: Ratio Analysis

Using the information above in the Profit & Loss / Balance Sheet Exercise complete the following ratios.

(p174-177) (15 marks)

The Current Ratio

The Acid Test

Gross Profit Margin

Net Profit Margin

Return on Capital Employed (ROCE)

Gearing Ratio

After completing these ratios write a short response (100 words) commenting on the financial position

of company XYZ. Clearly explain the meaning of the ratios.


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4.1THE ROLE OF MARKETING

Option 25: The Role of MarketingIntroduction to Basic Concepts

1. Define the term marketing (p179) (2 marks)

2. List three external factors that determine the growth or decline in a market size? (3 marks)

(p180)

3. Clearly explain the difference between a market and product orientation? (p181) (2 marks)

4. How is the marketing of services different to the marketing of goods? (p182) (2 marks)

5. In a paragraph response, explain the main elements of a marketing plan? (p185) (6 marks)

4.2MARKETING PLANNING

Option: 26: The Marketing Mix

1. Identify the 8 elementsof the extended marketing mix.

Briefly explain the meaning of each element in the extended marketing mix (10 marks)

(p186-187)

2. List three possible ways a business may be accused of unethical marketing. (p188) (3 marks)

3. Define the term marketing audit (p189) (2 marks)

Option 27: Marketing Research / Market Segmentation / Consumer Profiles

1. Clearly explain the difference between primary & secondary market research? (p191) (3 marks)

2. Define the term market segmentation. (p194) (2 marks)

3. What do we mean by target or niche marketing? (p194) (2 marks)

4. Define the term mass marketing (p195) (2 marks)

5. What do we mean by consumer profiles? Identify four major categories. (p195) (4 marks)

6. Define the term USP (p196) (2 marks)


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Option 28: Development a New ProductThe Development Process

1. In an extended response identify the 6 major steps in the development process for a

product. Clearly explain the meaning of each step. (p199-200) (15 marks)

Option 29: The Product Life Cycle / Product Diffusion Curves

1. Draw a diagram for the product life cycle. Clearly label all parts of the diagram. (5 marks)

Also show on the diagram the implementation of an extension strategy.

(p201-202)

2. Draw a product diffusion curve, including the appropriate percentages for each category (7 marks)

(p203)

3. Clearly explain the difference between innovators and laggards? (3 marks)

(p204)

Option 30: Product Portfolio AnalysisThe BCG Matrix

1. Draw the BCG Matrix clearly labeling all features on the diagram? (5 marks)

(p204-205)

2. Who developed the BCM matrix and when? (2 marks)

3. Select any conglomerate or famous company with a large range of products/services

Using the BCG framework, identify two products in each category of the

framework and justify your decision why this product is in this category. (8 marks)

Option 31: Branding / Pricing Strategies

1. Define the following terms: brand awareness, brand development, brand loyalty. (6 marks)

(p206-207)

2. In an extended response identify four major pricing strategies.

Clearly explain how each strategy works by using a practical example.

Some of these practical examples should include numerical examples. (p210-212) (9 marks)


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Option 32: Promotion & Place in the Marketing Mix

1. Cleary explain the difference between above the line & below the line advertising strategies.

(p217-218) (2 marks)

2. Identify five different forms of below the line promotion. (5 marks)

3. In an extended response, identify four major distribution channels and outline

one advantage and one disadvantage of each strategy. (p220) (8 marks)

Option 33: International Marketing

1. Identify three advantages and three disadvantages of international expansion. (6 marks)

(p221)

2. Using the four Ps framework identify relevant issues and challenges in international

Marketing. Include appropriate examples to support your response. (p221-222) (9 marks)

Option 34: E-Commerce

1. Define the term E-Commerce. (p222) (2 marks)

2. Explain the difference between B2B and B2C marketing? (p222) (3 marks)

3. Using the four Ps framework identify relevant issues associated with E-Commerce

Include real world business examples to support your response. (p223) (10 marks)


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5.1 PRODUCTION METHODS

Option 35: Four Major Production Methods

In an extended response, complete the following: (p226-228)

Identify four production methods.

Provide a definition for each method.

Provide an example for each method.

Identify two advantages and two disadvantages of each method (15 marks)

5.2 COST, REVENUE & BREAK EVEN ANALYSIS

Option 36: Costs & Revenues

1. Identify five different forms of revenue for a business. (p234) (5 marks)

2. Define the following terms: fixed costs, variable costs, semi-variable costs,

indirect costs, direct costs. (p235) (4 marks)

3. What is the formula for calculating the contribution per unit? (p237) (2 marks)

4. Devise your own practical example to demonstrate your understanding of

contribution per unit. (p237) (4 marks)

Option 37: Break Even Analysis

1. What is the formula used to calculate the break even quantity? (p244) (2 marks)

2a. A business has fixed costs of $15,950. It sells a product for $85.

The cost of making the product (materials) is $50. (p242-245)

Calculate the break even quantity. (3 marks)

2b. Draw a fully labeled break even chart using the above information. (10 marks)

You must clearly label all features of the graph.


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5.3 QUALITY ASSURANCE

Question 38: Quality Control & Quality Assurance

1. What do we mean by the quality revolution? When did it begin? (p250) (2 marks)

2. Identify five characteristics associated with quality? (p251) (5 marks)

3 In an extended response clearly explain the difference between quality assurance

and quality control. (p251) Ensure you explain the differences based on these

criteria: Concept / Costs / Processes / People. (p251) (8 marks)

Question 39: Total Quality Management (TQM)

1. Explain why a business should pursue a TQM strategy. (p252) (5 marks)

5.4 LOCATION

Option 40: Location of Production: Factors related to location or relocation

1. Define the term cannibalistic marketing? (p258) (2 marks)

2. What do we mean by inertia How can it impact on business location? (p259) (3 marks)

3. How can demographic change impact on the business? (p259) (2 marks)

4. Define the term infrastructure? (p259) (2 marks)

5. Explain how regional blocs and trading hubs could impact on location? (6 marks)

5.6 PRODUCTION PLANNING

Option 41: JIT vs JIC

1. In an extended response clearly explain the difference between JIT and JIC production techniques.

Outline advantages & disadvantages for each technique. (p274) (15 marks)


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ESCUELA CAMPO ALEGRE

SL BUSINESS & MANAGEMENT

END OF COURSE EXAMINATION

Name: _______________________________________________ Date: ______________________

TASK SUMMARY

Time Allowed: 90 minutes.

Closed Book Exam: No Notes Permitted.

Calculators: Essential and can be used during the exam.

Criteria Assessed: Mastery of Key Facts & Concepts / Analysis of Key Facts & Concepts

Weight: 2

EXAM INSTRUCTIONS

There are 41 Questions on this examination, arranged in chronologically textbook order.

Each question has several parts and is worth a total of 15 marks.

You are required to select any six questions of your choice.

Write your responses on the supplied writing paper.

MARKING CRITERIA

7 6 5 4 3 2

90-85 84-80 79-70 69-45 44-20 19-0

Teacher Comments

____________________________________________________________________________________

____________________________________________________________________________________

_____________________________________________________________________________________


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Sl Business-End of Course Review Sheet-final Homework Task-due Friday 25th April 2014 (3)

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