February 2024 Updates & Notices
Thursday 1 February 2024
February 2024 Updates & Notices
Welcome to the February 2024 Updates and Notices!
The latest data for IB Business Management is very promising. The growth rate has been highly impressive in terms of the number of candidates. In 2023, there were 35,173 candidates who took the final IB Business Management exams. The chart above shows that the number of BM candidates has grown by 871.1% during the given time period (a highly impressive growth rate by any measure!) Since 2020, the number of IB World Schools offering the Business Management course has grown to 1,626 schools, which represents 43.1% market growth.
I have used some of the latest data from the IB in the form of exam practice questions here for Unit 4.1 (Market growth).
Other updates on the website include:
A really eye-catching poster has been created and shared by IB educator Amr Fahmy for Unit 3.7 - Cash flow forecasting. Amr teaches at The American International School in Egypt - West Campus. The poster can be accessed here. Many thanks, Amr!
Students often struggle with elements of Unit 4.4 - Market research. This is part of the reason for reducing the number of sampling methods in the syllabus (to just quota, convenience, and random). Yet, this topic remains challenging for many students and this is apparent in Internal Assessments that use primary market research. Additional notes and exam practice questions have been added here to support students.
For Unit 4.5 - Marketing mix, teachers can download three additional quizzes from Words Up in PDF format to use with students in class using the following links (scroll down to ATL Activity 1 - Brand Awareness here). Answers are also provided.
For the new Unit 5.9 - Management Information Systems (HL only) , a total of 150 multiple choice questions (MCQs) have been added to the website to support students revising this challenging addition to the syllabus. These all come with a brief explanation of the answers to help students with their understanding.
In addition, a new exam practice question (including a 10-mark extended response question) along with a full mark scheme based of the Post Office scandal has been uploaded here for Unit 5.9 (Digital Taylorism)
A new interactive multiple choice quiz has been added here for BMT 9 - Gantt chart (HL only). There are 15 questions, each with a brief explanation to support students reviewing this tool in the BMT.
A case study about iBakery, a social enterprise based in Hong Kong, written in the context of Hofstede's cultural dimensions to show how an organization could be impacted by different cultures (or dimensions of cultures) has been added here. Scroll down to the tab "Applying Hofstede's cultural dimensions - A case study (iBakery)" to find out more about this. A new Paper 3 (HL) exam practice question based on iBakery (one of my favourite social enterprises in Hong Kong), along with a full mark scheme as well as three marked/moderated sample scripts will be added to the website in the first week of March, so watch out for this!
For BMT 12 - Force field analysis (HL only), a new interactive MCQ quiz has been added here. There are 20 questions to test your students' understanding of FFA, with a short explanation for each answer in order to support their learning.
Following two highly successful Paper 3 Think-In upskilling courses in the past two weeks, the InThinking website has been updated with additional resources and advice for the new Paper 3 (HL) exam. Additional tips for understanding the assessment criteria for the 17-mark essay in Paper 3 can be found here.
In addition, to support HL students with structuring their 17-mark extended response in Paper 3, fellow IB Workshop Leader Susan Brownsword has very kindly created and shared this resource with the InThinking Business Management community here. Susan teaches at South Lakes High School, Virginia, US. Many thanks, Susan!
As teachers and students in May centres prepare for the first pre-released statement from the IB for the new Paper 1, a new "FAQ" section has been added here . Watch out for the supporting resource that will be available on InThinking to help students prepare for this challenging assessment component of the new course. We will also be hosting an upskilling Paper 1 Think-In course on 8th March.
Many thanks to all of you for your continued support of InThinking Business Management. At the time of writing, we have 2,279 registered teachers and 23,542 students from across 115 countries using the website.
Finally, please remember that all your students can enjoy completely free access to the site. You can register your students via the Student Access link from the homepage. You may also have noticed that the filtered page tags have now changed to Student pages: ON and OFF. This allows you to more easily control the pages that are visible to your students. For the pages you wish to give them access, simply turn the access to ON but you can, if you wish, deny students access to a page by changing the setting to OFF.
With best wishes for the busy month ahead.
Paul Hoang