IB Business Management HL Questions and Answers ( Graded A+)
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Course
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
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