IB Business Management HL Questions and Answers ( Graded A+)
7 views 0 purchase
Module
IB Business Management HL
Institution
IB Business Management HL
B Business Management HL
Questions and Answers ( Graded A+)
Ansoff Matrix - ANS- Market Penetration, Market Development, Product Development,
Product Diversification
Business Plan - ANS- a written statement of the business's goals and objectives, and
the steps to be taken to achieve them.
C...
IB Business Management HL Questions and Answers ( Graded A+) Ansoff Matrix - ANS- Market Penetration, Market Development, Produc t Development, Product Diversification Business Plan - ANS- a written statement of the business's goals and objectives, and the steps to be taken to achieve them. Company/ Corporation - ANS- legal entity separate from its owners Cooperative - ANS- A business that is owned by the members it serves and is managed in their interest. Corporate Social Responsibility - ANS- business's concern for society's welfare Decision Tree - ANS- shows conditions and actions graphically Diversification - ANS- A strategy of increasing sales by introducing new products into new markets Dividends - ANS- earnings distributed to stockholders Economic Influences - ANS- Food choices based on supply and demand, price and availability Economies of Scale - ANS- Cost advantages associated with large -scale production Ethical Objectives - ANS- Pressure on business to have ethical manners, expected from the general public External Growth - ANS- Business takes over or merges with another. Fiscal Policy - ANS- Govern ment policy that attempts to manage the economy by controlling taxing and spending. Fishbone Diagram - ANS- visual model to clarify cause and effect relationships Fixed Costs - ANS- costs that are the same no matter how many units of a good are produce d Force Field Analysis - ANS- analyzing the reasons for a problem as well as what is preventing the problem from being eliminated Franchise - ANS- A legal agreement that gives an individual the right to market a company's products or services in a part icular area. Globalization - ANS- a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. Gross Domestic Product - ANS- The sum total of the value of all the goods and services produced in a nation Horizontal Integration - ANS- Type of monopoly where a company buys out all of its competition. Ex. Rockefeller Inorganic Growth - ANS- Expansi on by merging with or taking over another business. Internal Stakeholder - ANS- Stakeholders that work within the business. Joint Venture - ANS- A partnership created by two or more companies for a specific purpose over a set period of time. Merger - ANS- Combination of two or more companies into a single firm Monetary Policy - ANS- changes in the money supply to fight recessions or inflations Multinational Corporation - ANS- a large company that has operations in more than one country Non-profit Organization - ANS- A business whose goal is to provide a service rather than to make a profit, such as the American Red Cross. Operational Objectives - ANS- Deals with the day -to-day or short -term planning for delivery of a business process Organic G rowth - ANS- where a business grows naturally without merging or taking over other businesses Pest Analysis - ANS- acronym for Political, Economic, Social and Technological factors, which are used to assess the market for a business or organizational un it. Primary Sector - ANS- A part of an economy that is dominated by agriculture, including fishing and forestry. Secondary Sector - ANS- the part of the economy that transforms raw materials into manufactured goods Social Influences - ANS- The forces other people exert on one's buying behavior
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller certifiedScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £8.99. You're not tied to anything after your purchase.
