"All our dreams can come true, if we have the courage to pursue them”
- Walt Disney (1901 - 1966)

"It's easier to change directions if you are in motion."
- David Allen (b.1945), American productivity and management consultant

“To accomplish great things, we must not only act, but also dream, not only plan, but also believe.”
- Anatole France (1844-1924), Nobel Prize Winner for Literature, 1921

This section of the IB Business Management syllabus examines the objectives of business organizations. It discusses the objectives, strategies and tactics of businesses, driven by the organization’s vision and/or mission statement.

There are opportunities to apply the key concepts throughout this unit, such as understanding why businesses change their objectives in response to changes in the internal and external business environments.

In addition, there are opportunities to integrate elements of the Business Management Toolkit, such as SWOT analysis, Ansoff's matrix, business plans, STEEPLE analysis, and Porter's generic strategies.

The learning outcomes (or assessment objectives) for this section of the IB Business Management syllabus are:

• Vision statement and mission statement (AO2)

• Common business objectives including:

1. Growth

2. Profit

3. Protecting shareholder value, and

4. Ethical objectives (AO2)

• Strategic and tactical objectives (AO3)

• Corporate social responsibility (CSR) (AO3)

 Teacher only box

Note to teachers

Please note the following changes to this section of the new syllabus (first exams 2024).

• "Aims, objectives, strategies, and tactics" (AO3) has been removed.

• The above has been replaced with "Common business objectives", with four objectives specified.

• Despite change being a key concept in the new (and old) course, "Objectives and change (AO3)" has been removed from the new guide.

• Strategic and tactical objectives (AO3) has been added to the new syllabus.

• "Ethical objectives and CSR (AO1)" has been replaced with "Ethical objectives (AO2)" and "Corporate social responsibility (CSR) (AO3)". Do note the elevation of the assessment objectives in these two cases.

• Finally, note that "SWOT analysis (AO3, AO4)" and "The Ansoff matrix (AO3, AO4)" have been moved out of Unit 1.3 and into the Business Management Toolkit.

Please be aware of the above if and when using resources for the previous course (final exams N23) such as past IB exam papers and mark schemes.