Selected student pages
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Glossary of key terms
There are approximately 780 key terms in this glossary, so students should take their time to review these to consolidate their understanding and comprehension of the language used in IB Business Management....
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Artificial intelligence
Artificial intelligence (AO2) “Nothing will ever replace human contact between learner and teacher."- Wole Soyink, recipient of the Nobel Prize in Literature (1986) Artificial intelligence (AI) is defined...
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Operations methods
Operations methods (AO3) Production (also referred to as operations management) refers to the output of a good or provision of a service. Operations methods (sometimes referred to as production methods)...
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National & international quality standards
The importance of national and international quality standards (AO2) Substandard output refers to production of goods or provision of services that do not meet national or international quality standards....
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Pricing methods
Pricing methods (AO3) Price refers to the value of a good or service that is paid by the customer.The price of a product will usually cover the costs of production, allowing the business to earn profit....
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Data analytics
Data analytics (AO1) (HL only) Data analytics is the management process of examining and scrutinising raw data to find meaningful trends and patterns to support decision making and business planning....
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3.5 True or False Quiz
Unit 3.5 - True or False Quiz: Profitability and liquidity ratio analysis To test your understanding of this topic (Profitability and liquidity ratio analysis), have a go at answering the following true...
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The difference between profit & cash flow
The difference between profit and cash flow (AO2) "For better or worse, cash is the oxygen of your business, and you can't last long in any environment without it."- Neil Blumenthal, American entrepreneur...
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Market orientation vs Product orientation
Introduction to marketing “Business has only two functions - marketing and innovation”.- Peter F. Drucker (1909 - 2005), management guru Marketing is the art of determining the goods and services required...
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Appropriateness of sources of finance
Appropriateness of short- or long-term sources of finance for a given situation (AO3) Businesses match the type of finance with the purpose of use. For example, short-term finance such as a bank overdraft...
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Critical infrastructures
Critical infrastructures (AO2) This section of the syllabus requires HL students to understand critical infrastructures, including (i) artificial neural networks (ANN), (ii) data centres, and (iii) cloud...
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Types of organization charts
Types of organization charts (AO2, AO4) An organizational chart is a diagrammatic representation of an organization’s formal structure of its personnel. This shows the various roles of responsibilities...