IB Business Management — Core Units and Toolkit flashcards
10 of 80 cards free to study here · 7 topics · the whole deck is built into Willys
The four concepts, business organisation and growth, HR, finance with ratios and investment appraisal, marketing and the seven Ps, operations and break-even, and the toolkit from SWOT and Ansoff to critical path (HL).
Learn deck · part of IB Business Management · written against: IB Diploma Programme IB Business Management current subject guide; SL and HL in one deck, HL-only cards under subtopic tags starting HL. Updated 2026-10-10.
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Which four concepts underpin the IB Business Management course?Change, creativity, ethics and sustainability. Strong answers use them as lenses — asking, for example, how a decision affects stakeholders ethically or whether it is sustainable.Concepts
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Applying the concept of ethics: why might an ethical decision cut short-term profit yet still benefit a business?Paying fair wages or sourcing responsibly raises costs, but it can build reputation and customer loyalty, attract and keep staff, and reduce legal and reputational risk over time.Concepts
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How do the four sectors of economic activity differ? Give an example of each.Primary extracts natural resources (farming, mining); secondary manufactures and builds (car assembly, construction); tertiary provides services (retail, banking); quaternary is knowledge-based (research, IT consulting).Introduction to Business Management
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How does an intrapreneur differ from an entrepreneur?An entrepreneur starts a business and bears the personal risk; an intrapreneur is an employee who shows entrepreneurial creativity — developing new ideas or ventures — inside an existing organisation.Introduction to Business Management
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How is labour turnover calculated, and what does a high rate suggest?Number of staff leaving in a period ÷ average number employed × 100. A high rate can signal low morale or poor recruitment, and it raises recruitment and training costs.Human Resource Management › HL Culture Structure and Employee Relations
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How does a 360-degree appraisal differ from a traditional appraisal?Feedback comes from colleagues, subordinates, managers and sometimes customers, not just the line manager — giving a rounded view, but it is time-consuming and can feel uncomfortable.Human Resource Management › HL Culture Structure and Employee Relations
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How does capital expenditure differ from revenue expenditure?Capital expenditure buys non-current assets used for more than a year (machinery, buildings); revenue expenditure covers day-to-day running costs (wages, rent, raw materials).Finance and Accounts › Finance Costs and Cash Flow
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How does market orientation differ from product orientation?A market-oriented firm researches customer needs first and designs products to meet them; a product-oriented firm focuses on making a good product and then looks for buyers.Marketing › Planning Research and the Seven Ps
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How do job, batch and flow production differ?Job: one-off products made to a customer's specification.Operations Management › Production Methods and Break-even
Batch: groups of identical items made together before switching.
Flow (mass): continuous production of standardised goods on a line. -
In a SWOT analysis, which factors are internal and which external?Strengths and weaknesses are internal to the business; opportunities and threats come from the external environment.Business Management Toolkit › Core Tools
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About these cards
Review status: Second-reader reviewed, with corrections applied.
Checked against:
- OpenStax Principles of Management and OpenStax Principles of Accounting, Volume 2, consulted as references; no text copied.
- IB Diploma Programme Business Management guide, first assessment 2024 (topic outline only; no text copied).
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