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Study sets matching "ib business and management"

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Study sets matching "ib business and management"

247 terms
IB Business Management - Vocabulary
Consumer Goods
Consumer Services
Capital Goods
Primary Sector Business
The physical and tangible goods sold to the general public.
Non-tangible products that are sold to the general public.
Physical goods that are used by industry to aid in the produc…
Businesses engaged in farming, fishing, oil extraction and al…
Consumer Goods
The physical and tangible goods sold to the general public.
Consumer Services
Non-tangible products that are sold to the general public.
33 terms
IB Business Management Definitions
Company
Business
Sole Trader
Partnership
A distinct legal entity, operating as a business. A company i…
A business is an organization or enterprising entity engaged…
An individual who operates as a business. There is no legal d…
A type of unincorporated business organization in which multi…
Company
A distinct legal entity, operating as a business. A company i…
Business
A business is an organization or enterprising entity engaged…
575 terms
IB Business & Management Glossary
Above the line promotion
Abraham Maslow
Absorption cost pricing
Absorption costing
Promotion that is carried out through independent media that…
A theorist who classified the needs of employees of a firm in…
"A good is priced according to the proportion of direct and i…
"A method of costing where all the fixed costs (overheads) ge…
Above the line promotion
Promotion that is carried out through independent media that…
Abraham Maslow
A theorist who classified the needs of employees of a firm in…
86 terms
Business Management IB - 4 Marketing
Marketing and its relationship with ot…
Marketing goods vs services
Market orientation
Product orientation
- Definition: Process of identifying and satisfying consumer…
- Goods: Use of the 4Ps (place, price, product, promotion)... -…
- Outward looking, focus on market research, then making prod…
- Inward looking, focused on product development, supply of p…
Marketing and its relationship with ot…
- Definition: Process of identifying and satisfying consumer…
Marketing goods vs services
- Goods: Use of the 4Ps (place, price, product, promotion)... -…
230 terms
IB Business and Management Vocabulary
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
58 terms
Business Management IB - 5 Operations Management
OM and its relationship with other bus…
OM in organisations producing goods an…
Goods
High physical content but some services
''Without efficient operations leading to products and servic…
- Businesses have the operation management process:... Input --…
- Consumer gets the product but there may be an after sales s…
- Consumer gets the new product but there's also pre and post…
OM and its relationship with other bus…
''Without efficient operations leading to products and servic…
OM in organisations producing goods an…
- Businesses have the operation management process:... Input --…
247 terms
IB Business Management - Vocabulary
Consumer Goods
Consumer Services
Capital Goods
Primary Sector Business
The physical and tangible goods sold to the general public.
Non-tangible products that are sold to the general public.
Physical goods that are used by industry to aid in the produc…
Businesses engaged in farming, fishing, oil extraction and al…
Consumer Goods
The physical and tangible goods sold to the general public.
Consumer Services
Non-tangible products that are sold to the general public.
230 terms
IB Business and Management Vocabulary
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
230 terms
IB Business and Management Vocabulary
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
29 terms
1 IB Business Management: 1.1 Introduction to Business Management
Quaternary Sector
Intrapreneurship
Consumer Goods
Consumer Services
A subset of the tertiary sector and involves service jobs con…
The act of behaving like an entrepreneur while working within…
The physical and tangible goods sold to the general public. T…
Non-tangible products that are sold to the general public and…
Quaternary Sector
A subset of the tertiary sector and involves service jobs con…
Intrapreneurship
The act of behaving like an entrepreneur while working within…
12 terms
IB Business Management 4.1
Marketing Mix
Product Orientation
Market Orientation
Commercial Marketing
a combination of factors that can be controlled by a company…
a marketing strategy in which the company focuses on products…
a company philosophy focused on discovering and meeting the n…
The sale of products and services to end users and public and…
Marketing Mix
a combination of factors that can be controlled by a company…
Product Orientation
a marketing strategy in which the company focuses on products…
575 terms
IB Business & Management Glossary
Above the line promotion
Abraham Maslow
Absorption cost pricing
Absorption costing
Promotion that is carried out through independent media that…
A theorist who classified the needs of employees of a firm in…
"A good is priced according to the proportion of direct and i…
"A method of costing where all the fixed costs (overheads) ge…
Above the line promotion
Promotion that is carried out through independent media that…
Abraham Maslow
A theorist who classified the needs of employees of a firm in…
128 terms
IB HL Business & Management
AC (average-cost) valuation
advertising elasticity of demand
appraisal
appropriation account
A method of stock valuation which involves recalculating the…
Represents the change in sales resulting from each monetary u…
An assessment, usually conducted annually, of the effectivene…
Shows the various ways the company's net profit each year has…
AC (average-cost) valuation
A method of stock valuation which involves recalculating the…
advertising elasticity of demand
Represents the change in sales resulting from each monetary u…
IB Business Management: CUEGIS concepts
Change
Culture
Ethics
Globalisation
The adaptation of business objectives, strategies and operati…
Ideas, customs and social behaviour derived from different va…
The socially accepted moral principles that govern behaviour…
The increase in cross-border trade and the gradual developmen…
Change
The adaptation of business objectives, strategies and operati…
Culture
Ideas, customs and social behaviour derived from different va…
13 terms
IB Business Management Glossary
Economies of Scale
Internal (Organic) Growth
External Growth
Merger
The cost advantage from a business expanding. This is when th…
The expansion of a business organisation from within. For exa…
Expanding a business by merging or taking over another busine…
An agreement between shareholders and managers of two busines…
Economies of Scale
The cost advantage from a business expanding. This is when th…
Internal (Organic) Growth
The expansion of a business organisation from within. For exa…
575 terms
IB Business & Management Glossary
Above the line promotion
Abraham Maslow
Absorption cost pricing
Absorption costing
Promotion that is carried out through independent media that…
A theorist who classified the needs of employees of a firm in…
"A good is priced according to the proportion of direct and i…
"A method of costing where all the fixed costs (overheads) ge…
Above the line promotion
Promotion that is carried out through independent media that…
Abraham Maslow
A theorist who classified the needs of employees of a firm in…
10 terms
IB Business Management 3
inflation
depression
demand
supply
a general increase in prices and fall in the purchasing value…
a sustained, long-term downturn in economic activity in one o…
the desire of purchasers, consumers, clients, employers, etc.…
the amount of a good or service offered for sale
inflation
a general increase in prices and fall in the purchasing value…
depression
a sustained, long-term downturn in economic activity in one o…
12 terms
IB Business Management Command Terms
Analyse
Compare
Contrast
Define
Break down in order to bring out the essential elements, stru…
Describe two (or more) situations and present the similaritie…
Describe two (or more) situations and present the differences…
Give a clear and precise meaning of a given word, term, or co…
Analyse
Break down in order to bring out the essential elements, stru…
Compare
Describe two (or more) situations and present the similaritie…
575 terms
IB Business & Management Glossary
Above the line promotion
Abraham Maslow
Absorption cost pricing
Absorption costing
Promotion that is carried out through independent media that…
A theorist who classified the needs of employees of a firm in…
"A good is priced according to the proportion of direct and i…
"A method of costing where all the fixed costs (overheads) ge…
Above the line promotion
Promotion that is carried out through independent media that…
Abraham Maslow
A theorist who classified the needs of employees of a firm in…
66 terms
Ib business management
four functions of business management
four sectors of business activity
Primary
Secondary
organizing, planning, leading, and controlling
Primary, secondary, tertiary, and quaternary
the extraction, harvesting and conversion of a natural resour…
manufacturing or construction of products. ex. clothes produc…
four functions of business management
organizing, planning, leading, and controlling
four sectors of business activity
Primary, secondary, tertiary, and quaternary
92 terms
Business Management IB - 2 Human Resources
Human resource planning
Labour turnover
Internal factors affecting HR planning
External factors affecting HR planning
Definition: the business process for ensuring that an organis…
- The movement of employees in and out of a business in a giv…
- Business organisation... - Business finance ... - Labour reaction…
- Technology... - Government regulation... - Education... - Demographi…
Human resource planning
Definition: the business process for ensuring that an organis…
Labour turnover
- The movement of employees in and out of a business in a giv…
420 terms
IB Business Management 2016
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
420 terms
IB Business Management 2016
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
37 terms
IB Business & Management terms
Aims
Articles of Association
Business
Charity
Broad statements that provide general direction to help a com…
The stated rules of a private limited company.
An organization that uses resources to meet needs of customer…
An organization set up to raise money for a particular cause.…
Aims
Broad statements that provide general direction to help a com…
Articles of Association
The stated rules of a private limited company.
397 terms
IB Business Management
Business Plan
Businesses
Consumers
Customers
The document that sets out the business idea, its goals and o…
Organizations involved in the production of goods and/or the…
The people or organizations who actually use a product.
The people or organizations that buy the product.
Business Plan
The document that sets out the business idea, its goals and o…
Businesses
Organizations involved in the production of goods and/or the…
IB Business and Management 1.2
what does it mean if a business operat…
what does it mean if a business operat…
what is a mixed economy? provide an ex…
what is a free-market economy? provide…
comprises of businesses owned and controlled by individuals o…
comprises of organisations accountable to and controlled by t…
economic resources are owned and controlled by both private a…
economic resources are owned largely by the private sector wi…
what does it mean if a business operat…
comprises of businesses owned and controlled by individuals o…
what does it mean if a business operat…
comprises of organisations accountable to and controlled by t…
56 terms
Business Management IB - Chapter 1
Business definition
The main business functions and their…
Primary sector
Secondary sector
- An entity that tries to combine human, physical + financial…
- Operations: concerned with manufacturing the product... - Mar…
- Deals with the extraction of natural resources such as foss…
- Deals with construction/manufacturing processes (raw materi…
Business definition
- An entity that tries to combine human, physical + financial…
The main business functions and their…
- Operations: concerned with manufacturing the product... - Mar…
230 terms
IB Business and Management Unit II
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
51 terms
IB Business and Management Vocabulary
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
230 terms
IB Business and Management Vocabulary
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
22 terms
IB Business and Management
Vision
Mission
Aims
Objectives
What do we want to become, longer-term time frame, outlines b…
What is our business, updated frequently, more realistic
Generally long-term goals, typically broad an has no numbers,…
Short to medium term, set in order to meet aims, should be SM…
Vision
What do we want to become, longer-term time frame, outlines b…
Mission
What is our business, updated frequently, more realistic
230 terms
IB Business and Management Vocabulary
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
21 terms
IB Business and Management Vocabulary
Classify
Comment (1)
Complete
Construct
Level 1: Arrange or order business ideas or data by class or…
Level 1: Description or observation of business data or infor…
Level 1: Add information or data
Level 1: Present business data or information in the form of…
Classify
Level 1: Arrange or order business ideas or data by class or…
Comment (1)
Level 1: Description or observation of business data or infor…
230 terms
IB Business and Management Vocabulary
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
230 terms
IB Business and Management Vocabulary
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
420 terms
IB Business Management 2016
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
10 terms
IB Business Management: CUEGIS concepts
Change
Culture
Ethics
Globalisation
The adaptation of business objectives, strategies and operati…
Ideas, customs and social behavior derived from different val…
The socially accepted moral principles that govern behavior a…
The increase in cross-border trade and the gradual developmen…
Change
The adaptation of business objectives, strategies and operati…
Culture
Ideas, customs and social behavior derived from different val…
30 terms
IB Business and Management OPERATIONS MANAGEMENT 5.7 Production Planning
Stock (inventory)
Manufacturing businesses will hold sto…
Three costs associated with stock hold…
Costs of not holding enough stocks:
Materials and goods required to allow for the production of a…
1. Raw materials and components. These will have been purch…
1. Opportunity cost. Working capital tied up in stocks coul…
1. Lost sales. If a firm is unable to supply customers 'fro…
Stock (inventory)
Materials and goods required to allow for the production of a…
Manufacturing businesses will hold sto…
1. Raw materials and components. These will have been purch…
114 terms
IB Business Management HL
Ansoff Matrix
Business Plan
Company/ Corporation
Cooperative
Market Penetration, Market Development, Product Development,…
a written statement of the business's goals and objectives, a…
legal entity separate from its owners
A business that is owned by the members it serves and is mana…
Ansoff Matrix
Market Penetration, Market Development, Product Development,…
Business Plan
a written statement of the business's goals and objectives, a…
12 terms
IB Business Management Command Terms
Analyse
Compare
Contrast
Define
Break down in order to bring out the essential elements, stru…
Describe two (or more) situations and present the similaritie…
Describe two (or more) situations and present the differences…
Give a clear and precise meaning of a given word, term, or co…
Analyse
Break down in order to bring out the essential elements, stru…
Compare
Describe two (or more) situations and present the similaritie…
37 terms
IB Business - Operations and Management
Capital Intensive
Ecological Footprint
Ecological Sustainability
Economic Sustainability
...
...
The capacity of the natural environment to meet the needs of…
-The development that meets the economic needs of the present…
Capital Intensive
...
Ecological Footprint
...
575 terms
IB Business & Management Glossary
Above the line promotion
Abraham Maslow
Absorption cost pricing
Absorption costing
Promotion that is carried out through independent media that…
A theorist who classified the needs of employees of a firm in…
"A good is priced according to the proportion of direct and i…
"A method of costing where all the fixed costs (overheads) ge…
Above the line promotion
Promotion that is carried out through independent media that…
Abraham Maslow
A theorist who classified the needs of employees of a firm in…
74 terms
IB HL Business & Management
appraisal
benchmarking [Best Practice Benchmarki…
break even analysis
business plan
An assessment, usually conducted annually, of the effectivene…
Measuring an organisation's performance by comparing the cost…
A calculation of costs compared to revenue. The point at whic…
The document, which sets out how an organisation will meet it…
appraisal
An assessment, usually conducted annually, of the effectivene…
benchmarking [Best Practice Benchmarki…
Measuring an organisation's performance by comparing the cost…
34 terms
IB HL Business and Management
Business
Input
Product
Goods
A decision-making organisation involved in the process of usi…
Resources that a business uses in the production process e.g.…
Refers to goods and services
Refers to physical products e.g. cars
Business
A decision-making organisation involved in the process of usi…
Input
Resources that a business uses in the production process e.g.…
118 terms
Business Management IB
Business
Product
Goods
Services
Is a decision making organisation involved in the process of…
Can refer to both goods and services
Physicsl products e.g. Cars / computers / books / and food
Intangible products e.g. haircuts / bus rides / education / h…
Business
Is a decision making organisation involved in the process of…
Product
Can refer to both goods and services
44 terms
IB Business and Management HUMAN RESOURCES 2.4 Leadership and Management
Leadership
4 Leadership (or Management) styles
Autocratic leadership
Laissez-faire leadership
The art of motivating a group of people towards achieving a c…
1. Autocratic (authoritarian)... 2. Democratic... 3. Laissez-faire…
A style of leadership that keeps all decision-making at the c…
A leadership style that leaves much of the business decision-…
Leadership
The art of motivating a group of people towards achieving a c…
4 Leadership (or Management) styles
1. Autocratic (authoritarian)... 2. Democratic... 3. Laissez-faire…
51 terms
IB Business Management HUMAN RESOURCE MANAGEMENT 2.4 Motivation
Motivation
Intrinsic motivation
Extrinsic motivation
Content theories of motivation
The intrinsic and extrinsic factors that stimulate people to…
Comes from the satisfaction derived from working on and compl…
Comes from external rewards associated with working on a task…
Explain the actual factors that motivate people; i.e. *what…
Motivation
The intrinsic and extrinsic factors that stimulate people to…
Intrinsic motivation
Comes from the satisfaction derived from working on and compl…
24 terms
IB Business and Management OPERATIONS MANAGEMENT Quality Assurance
Quality product
Quality standards
Advantages of producing quality produc…
Quality control
A good or service that meets customers' expectations and is t…
The expectations of customers expressed in terms of the minim…
1. Easier to create customer loyalty... 2. Saves on costs associ…
This is based on the inspection of the product or a sample…
Quality product
A good or service that meets customers' expectations and is t…
Quality standards
The expectations of customers expressed in terms of the minim…
230 terms
IB Business and Management Vocabulary
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
230 terms
IB Business and Management Vocabulary
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
Businesses involved in the extraction of natural resources, s…
Business activity is concerned with the construction and manu…
Business activity is concerned with the provision of services…
Part of the economy under the control of private individuals…
Primary Sector
Businesses involved in the extraction of natural resources, s…
Secondary Sector
Business activity is concerned with the construction and manu…
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