August 2024 Updates and Notices

Thursday 1 August 2024

August 2024 Updates and Notices

Dear InThinking users

Welcome to the August 2024 updates and notices!

Whilst many teachers in May centres are (hopefully) relaxing on their summer vacations, those in November centres will be busy preparing activities for their students for the OneWay Ltd (OWL) Paper 1 pre-release statement from the IB.

For teachers in November centres, please note the Paper 1 pre-release statement was uploaded on My IB in late July. The direct link to download this document is here. You can bookmark this site page on InThinking to access ATL Activities and top tips for the OneWay Ltd (OWL) case study here. Currently, there are several ATL Activities to help your students to get to know the case study. These activities include:

  • Key terms from the pre-release statement

  • Comprehension quiz

  • Getting to know the context

  • Interactive True or False quiz

  • Interactive Multiple Choice Questions (MCQ) quiz

Case studies are integral to the teaching of Business Management, providing real-world contexts to the concepts and contents in the syllabus. Two recent updates to the website include case studies about Crowdstrike, which was responsible for the global IT outage on Friday 19th July 2024, and Dayuse.com that uses a highly creative way to increase capacity utilization at hotels across the world. The Crowdstrike case study can be accessed here under Unit 5.7 Crisis management and contingency planning (HL). The Dayuse.com case study can be accessed here for Unit 5.6 Production planning (HL).

Other updates to the website during the past month include:

  • A new set of interactive multiple choice questions for Unit 1.5 economies and diseconomies of scale has been added here. There are 20 auto-marked questions with answers provided to support student learning of this challenging topic in the syllabus.

  • Additional exam practice questions for Unit 3.5 (Profitability ratios) have been added here. These are aimed at developing student's analytical skills when examining the financial accounts of a business.

  • Additional exam practice questions for Unit 3.8 (Average rate of return) have been added here. This includes testing students' understanding in the inclusion of an asset's scrap value when calculating the ARR ratio.

  • With the conclusion of the May 2024 examinations, additional EE research questions (from essays that were recently graded as an A or B) have been added here to provide students with further guidance and examples of what makes a good EE RQ.

For teachers working with students on the Internal Assessment and/or Extended Essay, please note a new "5Cs framework" has been created to help you to support students in formulating suitable IA and EE research questions.

  • Click the link here for the 5Cs framework for the IA.

  • Click the link here for the 5Cs framework for the EE.

In July, we welcomed our 2,000th teacher member to the InThinking Business Management Facebook teacher group. At the time of writing, there are 2,040 teachers in this group who share questions, ideas, and resources on a regular basis. You are also welcome to join our WhatsApp group here, which has over 630 teacher members.

For teachers who are relatively new to the DP Business Management course, or those with colleagues who are somewhat new to the IB, you may be interested in joining me in Barcelona this October for the IB Category 1 Business Management Workshop. The workshop takes place from Friday 11th - Sunday 13th October 2024 at the Barceló Hotel Sants in Barcelona, Spain. The agenda and registration details for the IB Category 1 workshop can be found here, if interested: https://www.ibo.org/en/event/200582

For teachers interested in upcoming Think-In courses (virtual training and upskilling webinars), please note the following events are now live for registration:

Date

Think-In upskilling course

Registration link

5th - 6th Sept 2024

DP Crash Course: Business Management for New DP Teachers

https://inthinking.net/think-ins/1520

9th Sept 2024

DP Keys to Success: The Internal Assessment (IA) in the new DP Business Management

https://inthinking.net/think-ins/1521

16th Sept 2024

DP Focus On: The New DP Business Management Toolkit

https://inthinking.net/think-ins/1522

17th Sept 2024

DP Focus On: The new Paper 1 pre-release statement (N24)

https://inthinking.net/think-ins/1523

26th Nov 2024

DP Focus On: Paper 2 quantitative techniques (first exams 2024)

https://inthinking.net/think-ins/1524

27th Nov 2024

DP Focus On: Paper 3 HL only (first exams 2024)

https://inthinking.net/think-ins/1525

29th Nov 2024

DP Focus On: The Extended Essay (final exams N26)

https://inthinking.net/think-ins/1526

There will be additional Think-In courses in 2025, which will include the new Paper 1 for M25 exams as well as the new Extended Essay (first teaching 2025). Please keep an eye on the CPD webpage for updates.

In case you were not aware, InThinking's slogan and pledge is Dynamic, Creative, Personal:

  • Dynamic (weekly) updates ensure InThinking IGCSE Economics never stands still – subscribers know that more great teaching and learning materials are continually added to the site, as highlighted in our monthly Newsletter.

  • Creative and rich classroom activities are what that drives us and our students: provoking inquiry, inspiring a lifelong love of the subject, and providing opportunities for extended discussions and engagement.

  • Personal responses to subscriber questions and queries on the website help us to build a relationship with you and to gain an even better understanding of your needs and preferences.

At the end of July 2024, there were 2,389 registered teachers and 14,458 students from across 115 different countries using the InThinking Business Management website (that's more than 70% of all IB World Schools that offer the DP Business Management course). Content on the website now exceeds 1,850,000 words - to put this into context, that's more than 345 Extended Essays(!) whilst the 762-page 5th edn IBID Press textbook is around 360,000 words. So, there are plenty of resources to engage and support teachers and students alike.

Please note that your IB Business Management students can have completely free access to the website once you have activated Student Access. You can also register other teachers in your school to gain access to the website, which is updated every week, 52 weeks a year. The annual subscription therefore represents extremely good value for money and will save you hundreds of hours of planning:

Currency

Annual

Per week

Per day

USD

285

5.48

0.78

EUR

250

4.81

0.68

GBP

225

4.33

0.62

Many thanks to all of you for your continued support of InThinking Business Management. Your words of encouragement are highly appreciated.

With best wishes for the busy month ahead!

Paul Hoang