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Entry Requirements

  • 5 GCSEs at 9-4
  •  *GCSE Level 2 Distinction or above in Retail and Business or if you have not studied Business, GCSE Maths at Grade 5 or above, GCSE English at Grade 5 or above.

Contact

Mrs Ayres
Head of Business

info@rainham.latrust.org.uk
FAO: Mrs Ayres, Head of Business

Course Outline

Students on the IB Diploma in Business Management learn the key characteristics of business organisation and environment. We focus on the functions of human resources, finance, marketing and operations. The IB course allows students to develop a holistic understanding of today’s complex and dynamic business environment. Students learn to analyse, discuss and evaluate business activities at local, national and international level, exploring, through case study and student investigation, a range of organisations, as well as the socio-cultural and economic contexts in which they operate. Over two years, students develop relevant and transferable skills, including the ability to: think critically; make ethically sound and well-informed decisions; appreciate the pace, nature and significance of change; think strategically; and undertake long term planning, analysis and evaluation.

Course Content

This Business Management course covers five key units, building your understanding of how businesses operate from the ground up to global strategies.

Unit 1: Business Organization and Environment

This unit introduces the fundamentals of business, including:

  • What business management is all about.
  • Different types of organizations (e.g., for-profit, non-profit).
  • Setting and achieving organizational objectives.
  • Understanding the role and impact of stakeholders.
  • Analysing the external environment in which businesses operate.
  • Exploring how businesses grow and evolve.
  • Delving into organizational planning tools.

Unit 2: Human Resource Management

This unit focuses on the people aspect of business:

  • The functions and evolution of human resource management.
  • Different types of organizational structures.
  • Leadership and management styles.
  • Understanding and applying theories of motivation.
  • Examining organizational (corporate) culture.
  • Exploring industrial/employee relations.

Unit 3: Finance and Accounts

This unit covers the financial heartbeat of a business:

  • Various sources of finance.
  • Analysing costs and revenues.
  • Performing break-even analysis.
  • Understanding and interpreting final accounts (some HL only).
  • Conducting profitability and liquidity ratio analysis.
  • Performing efficiency ratio analysis.
  • Managing cash flow.
  • Investment appraisal techniques
  • Creating and managing budgets.

Unit 4: Marketing

This unit explores how businesses connect with their customers:

  • The crucial role of marketing.
  • Developing marketing plans, including an introduction to the four Ps (Product, Price, Promotion, Place).
  • Techniques for sales forecasting.
  • Methods for conducting market research.
  • A deep dive into the four Ps (product, price, promotion, place).
  • Expanding to the extended marketing mix of seven Ps.
  • Understanding international marketing.
  • The impact and strategies of e-commerce.

Unit 5: Operations Management

This unit focuses on how goods and services are produced:

  • The role of operations management in a business.
  • Different production methods
  • Principles of lean production and quality management.
  • Strategic considerations for location.
  • Detailed production planning.
  • The importance and process of research and development (R&D).
  • Preparing for unexpected events through crisis management and contingency planning.

Course Assessment

  • Paper 1: Pre-seen Case Study
    Duration: 2 hours 15 mins
    This paper requires you to write essays in response to questions based on a pre-seen case study. This means you’ll receive the case study in advance, allowing you to thoroughly analyze it before the exam.
  • Paper 2: Exam Questions
    Duration: 2 hours 15 mins
    In this paper, you’ll provide written responses to a series of unseen exam questions that test your knowledge and understanding across all core units.

You’ll complete a 2000-word report based on research you conduct. The goal of this research is to answer a specific problem faced by a local business. This component allows you to apply your business knowledge to a real-world scenario.