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Sat / act prep online guides and tips, the best ib business and management notes and study guide for sl/hl.

International Baccalaureate (IB)

If you're in the IB Business and Management SL/HL class and want a little extra study help for your in-class test or the final IB exam, you've come to the right place. Here, I've gathered the best free online IB Business and Management notes into one convenient place for you .

This IB Business and Management study guide is organized according to the newly-revamped, official SL/HL syllabus .

2022 IB Exam Changes Due to COVID-19

Because of the ongoing COVID-19 (coronavirus) pandemic, the IB has decided to extend the adaptations which were put in place for 2021 to 2022. May 2022 IB assessments will have two routes, exam and non-exam, depending on which your school chooses. Stay up to date with the latest information on what this means for IB diplomas, course credit for IB classes, and more with our our IB COVID-19 FAQ article .

How to Use This IB Business and Management Study Guide

If you need help with one topic, use the ctrl + f function on your keyboard to search for that topic. For example, let's say you want to read about Marketing Planning. To find that information quickly, use ctrl + f to bring up the search function. Next, type "marketing planning" and it'll bring up all the materials that match that term.

If you are just looking for IB exam study resources, you can skip to the end of this article to the "Comprehensive Notes" section . There, you'll find resources that cover the IB Business and Management exam as a whole.

Use this IB Business and Management study guide during the school year to help you prep for in-class tests . If you're struggling to understand class lectures, make sure you're getting additional help so that you learn the material throughout the school year. Don't wait to cram it in until right before the final IB Business and Management exam!

The Best Study Practices for IB Business and Management

The absolute best way to study for IB Business and Management tests and cement what you've studied is to practice past paper questions as you learn new topics in the classroom . Writing about concepts you're studying helps solidify them in your memory.

Also, there's a chance that you'll see the ideas covered in old paper topics somewhere on the final IB exam! You can find past IB Business and Management SL/HL papers in our guide .

As mentioned above, if you're struggling with the material in class, don't wait to ask for help . The best way to ensure you do well on the IB test is to learn the material throughout the year. If you're struggling to understand class lectures, you should also be reading the corresponding chapter in a textbook or study guide.

Common Study Mistakes for IB Business and Management

If you're having trouble in your IB Business and Management SL or HL class, you will need to seek additional help fast so you don't fall behind. Master the material during the school year and you'll be guaranteed to rock your IB papers!

But that doesn't mean you don't need to study to do well. The two most common study mistakes are as follows:

• Ignoring the material you don't understand in the classroom: If you didn't understand it in the classroom, seek help elsewhere, such as by using this IB Business and Management study guide or hiring a tutor.
• Waiting to learn the material until a week or two before the papers: There is a lot of material to master for the IB Business and Management class. A week or two is not enough time to get down everything you'll need to know (that's why the course is taught over a couple of years!). Be sure to learn the material as you're supposed to learn it in class.

The Best IB Business Management Notes Online

Here, we give you a complete set of IB Business and Management notes for every topic. Note that the IB Business course was completely restructured in 2022. Not all the notes have been updated to fit the new format, so you may see slightly different unit names/numbers when you click on links. But, rest assured, all the links correspond to the subunit they're linked under.

Unit 1: Introduction to Business Management (20 Hours SL and HL)

1.1 What is a business?

1.2 Types of business entities

1.3 Business objectives

1.4 Stakeholders

1.5 Growth and evolution

1.6 Multinational companies (MNCs)

Unit 2: Human Resource Management (20 Hours SL, 35 hours for HL)

2.1 Introduction to human resource management

2.2 Organizational structure

2.3 Leadership and management

2.4 Motivation and demotivation

2.5 Organizational (corporate) culture (HL only)

2.6 Communication

2.7 Industrial/employee relations (HL only)

Unit 3: Finance and Accounts (30 Hours SL, 45 hours for HL)

3.1 Introduction to finance

3.2 Sources of finance

3.3 Costs and revenues

3.4 Final accounts

3.5 Profitability and liquidity ratio analysis

3.6 Debt/equity ratio analysis (HL only)

3.7 Cash flow

3.8. Investment appraisal

3.9 Budgets (HL only)

Unit 4: Marketing (30 Hours SL, 35 hours for HL)

4.1 Introduction to marketing

4.2 Marketing planning

4.3 Sales forecasting (HL only)

4.4 Market research

4.5 The seven Ps of the marketing mix

4.6 International marketing (HL only)

Unit 5: Operations Management (15 Hours SL, 45 hours for HL)

5.1 Introduction to operations management

5.2 Operations methods

5.3 Lean production and quality management (HL only)

5.4 Location

5.5 Break-even analysis

5.6 Production planning (HL only)

5.7 Crisis management and contingency planning (HL only)

5.8 Research and development (HL only)

5.9 Management information systems (HL only)

Comprehensive Notes for IB Business and Management

These final resources are more comprehensive and cover all main topics you'll need to know for the IB Business and Management exam.

• Janet Barrow's Guide to HL IB Business and Management : This 56-page guide provides tons of details on the exam format and content to know (based on the old course format).
• IB Notes by Ellie: This site offers useful notes for IB Business and Management along with other IB classes. Click through each unit to find information on the major course topics.

Bracken's IB Business : Here, you can get in-depth info on every IB Business Management unit (we included some of these web pages in our list above).

Power School Learning : Links to documents that cover each of the IB Business units and subunits.

• Quizlet : Use these free flashcards to study important IB Business and Management terms.

What's Next?

Want to learn more about IB Business and Management? Then check out our guide on where to find free and official IB Business and Management papers .

Learn more about the IB program with our comparison of IB vs AP , our guide to the IB Diploma curriculum , and our list of all the IB courses currently available . We've also got an extensive list of all IB Diploma Programme schools in the United States and information on which IB classes you can take online .

Thinking of taking other IB classes besides Business and Management? Look at our guides to see past papers for IB Biology , Economics , English , and Math .

Why not learn more about what return on assets (ROA) means ?

Thinking about applying to school as an HR major? Let us introduce you to the best schools for human resources degrees and teach you what you can do with them.

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Business management

The business management course is designed to develop students’ knowledge and understanding of business management theories, as well as their ability to apply a range of tools and techniques.

Students learn to analyse, discuss and evaluate business activities at local, national and international levels. The course covers a range of organizations from all sectors, as well as the socio-cultural and economic contexts in which those organizations operate.

The course covers the key characteristics of business organization and environment and the business functions of human resource management, finance and accounts, marketing and operations management. Links between the topics are central to the course. Through the exploration of six underpinning concepts (change, culture, ethics, globalization, innovation and strategy), the course allows students to develop a holistic understanding of today’s complex and dynamic business environment. The conceptual learning is firmly anchored in business management theories, tools and techniques and placed in the context of real world examples and case studies.

The course encourages the appreciation of ethical concerns at both a local and global level. It aims to 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. The course also develops subject-specific skills, such as financial analysis.

The aims of the business management course at HL and SL are to:

• encourage a holistic view of the world of business
• empower students to think critically and strategically about individual and organizational behaviour
• promote the importance of exploring business issues from different cultural perspectives
• enable the student to appreciate the nature and significance of change in a local, regional and global context
• promote awareness of the importance of environmental, social and ethical factors in the actions of individuals and organizations
• develop an understanding of the importance of innovation in a business environment.

Syllabus outline

Key features of the assessment model.

External assessment for HL and SL students consists of two written examination papers. Paper one is based on a pre-seen case study issued in advance, and paper two consists of structured questions based on stimulus material and an extended response question that assesses students’ understanding of the key concepts of the course.

Internal assessment for HL students is a research project and for SL students a written commentary. In both tasks, students study real world business organizations. These are internally marked by subject teachers and then externally moderated by IB examiners.

Learn more about business management in a DP workshop for teachers . 

Business management subject brief

Subject briefs are short two-page documents providing an outline of the course. Read the standard level (SL) and/or higher level (HL) subject brief below. 

Latest curriculum updates

This subject is reviewed by the IB regularly to ensure the latest educational research is applied. Please keep up to date with the latest subject updates for Business management .

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IB Business Management Paper 3 A focus on social enterprises

This is a new exam for the IB Business exams starting in 2024, so students and teachers will be wondering how to prepare for it.  The IB provided guidance is obviously the best place to start, but see below for my thoughts on preparation.

An intro assignment idea for teachers

As students are being introduced to Paper 3, IB Biz developed an outline assignment, in which students break down a P3 case study by creating a thesis, annotating it with links to the course syllabus, comment on how they would use each of the resources on the case study, and outline a 2 step plan to put the social enterprise on a sustainable path. The goal here is to get students to practice the tasks they'll need for Paper 3 before doing a full 17 mark essay.  See this assignment sheet if you would like to introduce Paper 3 with a similar assignment.  The doc below is the paper that I would give students along with a case study to outline their answers. 

Preparing for Paper 3

Step 1: research and understand social enterprises.

Social enterprises in a nutshell - what are they?

It’s important to note that there is not 100% agreement on what a social enterprise is, and even the IB guidance acknowledges this and gives us an overview of some common aspects of the definition.  Before preparing for Paper 3, I highly recommend starting with the IB document called “Guidance for External Assessment,” and finding the section on Paper 3. Also, here’s a good article that quickly summarizes 6 different types of social enterprises and gives links to examples.  It’s a great starting point to build students’ understanding.  The SEWF foundation has a good checklist of its standards for verifying social enterprise status. 

Here are some of my main takeaways on social enterprises from the IB guidance and other resear ch: 

Has a focus on a mission or vision. ( Investopedia notes that social objectives are the “primary purpose.”)

Has a mix of funding from revenue-generating business activities and some from grants, donations, and other non-revenue sources.  The IB draws a line at having “up to” 75% of funding from revenue generating activities, but I am not necessarily finding that all other sources agree with this limit.  Would a business that gets 100%

They DO NOT generate all of their funding from grants, donations, and non-revenue sources.  That would essentially make them a charity, and not considered a social enterprise. Revenue generation must aid the financial sustainability of the organization.

Any profits/surplus are reinvested into the social mission.  This is a key aspect in differentiating social enterprises from companies that simply have a strong CSR focus.

Some links to just a few examples of social enterprises that I have found while researching for the Paper 3 case studies.  I’d of course recommend doing some of your own digging around for examples of organizations: 

Seven One Tea in Malaysia

Barefoot College in Zanzibar

Hotel Housekeeping in Australia

The Trap Garden in the US

Here are some links to a few English-language websites that compile social enterprise examples in various areas around the world: 

Fair trade social enterprises India Canada

The UK generally

Step 2: Understand the Paper 3 questions

Questions and marking: 

According to the Paper 3 guidance published by the IB, the three questions asked on this exam will always be the same, or at least will always be about the same idea even if the wording is not the exact same. Thus, if you are wondering why all of the questions for each case study are the same, this is why.

Question 1: 2 marks

Describe a human need that the organization fills through its business. This needs to be paired with a business management theory. 

Here some thoughts on that:

The IB mentions motivation as an example of a course link, and applying Maslow’s hierarchy of needs would seem to be the most straightforward way of doing this.  In the teacher support material released so far, the only student responses that have linked specifically to course theory and thus gotten full credit on this question have been linked to Maslow's hierarchy.

On a sample student response, a student mentions financial needs but is awarded no credit by the examiner because it is too vague.

Since the syllabus standards only mention the word “theory” in connection with motivation theories and theory of knowledge connections, it is unclear at the moment what would meet the IB’s expectations on this question other than motivation theory.  At the very least, motivation theory is by far the most obvious connection, and within that Maslow's hierarchy of needs is the most starightforward connection to the idea of "human need" that question 1 asks about.  Therefore, it's pretty natural for students to just stick to the following theory connections to be safe.

Herzberg: meeting hygiene needs

McClelland’s acquired needs theory: need for achievement, affiliation, or power

Deci and Ryan’s self determination theory: need for autonomy, competence, or relevance/relatedness

Need for equity (Adams’ motivation theory)

Question 2: 6 marks

Explain two key challenges facing the organization. 

As per the guidance coming from IB workshops at the time of writing, here is how the 3 marks marks are to be awarded on each of the two parts of the 6 mark questions: 

1 mark for identifying the challenge

1 mark for explaining that challenge

1 mark for applying it to the stimulus material

In all honesty, this is awfully similar to the 2+2 structure for the 4 mark questions that use the command term explain.  The idea here seems to be to simply go further in your explanations.  It is not clear if the IB will give us another type of question in which the command term explain is used, the student has to explain two examples, and the maximum mark level is 6.  On the 2016 syllabus, all 4-mark explain questions had two components to explain, and 6 mark explain questions had three components to explain.

Question 3: 17 marks

Check back later.  IB Biz will do some thinking out loud about this soon.

While there's no required format for the essay, it's important to think strategically about how to organize the essay in order to maximize your potential marks. A recommended format might look like this: 

1. Intro Paragraph:   Briefly  (2-3 sentences max) break down the major problems and issues the social enterprise faces.  Include a clear thesis statement that outlines the major aspects of your plan.    Do not  spend too much time repeating what the case study already says - the examiner knows the case study, so you don't need to tell them.   The intro paragraph does not need to be more than a few sentences.

2. Body Paragraph 1: First recommendation for firm's plan of action.  It's best to focus this on the most immediate short term action.  Acknowledge the drawbacks to this action as well to show proper balanced evaluation. 

3. Body Paragraph 2: Second action of the plan, focusing on short or medium term. 

4. Body Paragraph 3: Final action, focusing more medium to long term. 

5. Concluding paragraph

Paper 3 Essay DOs and DON'Ts

So...how do I crush it on the 17 mark question?

And what are mistakes to avoid?

Keep the short term vs. longer term actions in mind. A firm may eventually be able to do something you'd  recommend, but cannot do so now without other steps falling into place.

Directly quote or paraphrase resources, directly using phrases such as, "as seen in resource 1."

Consider trade-offs of actions. 

Read between the lines and speculate on what  might  be, or is  likely  to happen, showing that you understand the implications of the resources presented to you, not ONLY what is directly written in the stimulus material. 

Deliberately use the majority, and preferably  all  of the resources at least once.

Justify your analysis by elaborating upon it. Too many students analyze by breaking a point or information down, but do not go further to true evaluation by  elaborating  on why something is true, or what something means for  this  firm in  this  situation. 

Keep in mind what is reasonable for a firm to do. Imagine if you were in their situation in the  real  world, with all of its challenges.

Use terms that apply. For instance, if you are arguing that a firm should introduce a produce a product a low price to get people in the door and buy more expensive items, then  use  the term "loss leader."

Consider multiple stakeholders.  If something is great for customers but they employees very clearly could/would not go for it, then you're wasting your time with that recommendation.

Recommend something that the firm will not be able to afford to do, or the workforce will not reasonably be able to do. 

Use too many syllabus terms/concepts that are not actually relevant to your plan or genuinely helpful.  You'll be wasting time better spent elsewhere, and the examiner will clearly see when a student is trying to use terms simply to show that they can use terms.

Make references to real life organizations that the IB examiner may not be aware of.  Set your response in the fictionalized world of the case study.

Forget a conclusion in which you wrap up the most compelling reasons for your plan of action.  

Simply say that something is "risky."  All business is risky, so if you bring up risk, then it really helps to explain what is particularly risky about this action for this firm in this context.

Make the intro paragraph too long.  It's actually quite possible to merge paragraph 1 and the intro paragraph into one, dedicating the first few lines to an intro and thesis.  Some students waste too much time writing an overly-long and formal intro paragraph.   ​

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IB Business Management

The business management course places a strong emphasis on an inquiry-based approach to teaching and learning. This method encourages students to delve into business tools and theories by engaging with case studies. It allows them the freedom to generate their questions and develop their unique solutions to address organizational challenges. This inquiry-focused approach applies to various assessments, including papers one, two, and three and the concept-based business research project IA, catering to SL and HL students.

Students must build their understanding of the business tools and theories and apply their knowledge in answering case study questions. They must be able to incorporate real-world examples as supporting elements. In assessments, students will be required to showcase their comprehension of business management by analyzing situations within the context of a specific case study rather than relying solely on theoretical responses. Through this approach, students will transcend theoretical understanding and gain the ability to assess and evaluate scenarios presented in diverse case studies.

Course Structure and Content

The course is typically completed over two years and culminates in a rigorous external exam. IB Business Management can be studied at the Standard Level (SL) or Higher Level (HL). At the Standard Level, the syllabus content covers 150 teaching hours and an additional 20 hours for the internal assessment component. The Higher Level course includes 240 teaching hours and an additional 20 hours for the internal assessment component. Examination question types include short answer, structured questions, and extended response questions, which assess students' critical thinking skills and application of content knowledge. The external components contribute 70% to the final assessment at SL and 80% to the final assessment at HL.

Business management HL students must produce a 1,800-word research project about a real-life business or a problem facing a particular organization or business. Students must also use a conceptual lens and produce a research project using the business management toolkit and the four key concepts. The research project is worth 25 marks and weighs 20%.

All students studying the syllabus will explore topics such as business organization, human resource management, finance and account, marketing, and operation management. However, at the higher level, students complete additional subtopics in units 2, 3, 4, and 5. These subtopics require extra depth and breadth. At the higher level, students are required to do paper 3. This examination centers on an unseen stimulus material about a social enterprise.

The business management course seamlessly weaves the four foundational concepts (change, creativity, ethics, and sustainability) into the core conceptual frameworks of all its units. This integration ensures a continuous and interconnected thematic thread throughout the entire course. Further, the business management toolkit comprises a collection of 15 tools designed for situational analysis, strategic planning, and decision-making. These tools are meant to assist students in scrutinizing and appraising the course material within the syllabus, and they can be effectively employed in various disciplinary and interdisciplinary scenarios. At HL, all 15 tools must be integrated while learning the course. At the standard level, only eight tools are required.

Tips for success in Business Management

• Read the questions carefully and pick the ones you're confident about. When you get the case study, don't rush. Read it carefully, underline important info, and jot down key points. This helps you remember details. Use paragraphs to separate your ideas. If it fits, use headings. A well-structured answer is easier to read.
• Apply your answers to the case study, write names and any data provided. Remember, you are talking about that specific business, so do not be generic in your answers. Show your work when answering calculation-based questions. Remember you have marks for steps in calculations. When you use concepts or theories, explain how they relate to the case study. Always give reasons for your answers. Consider how your answers impact the business. Show that you understand the situation as a whole.
• Be critical. Discuss the advantages and disadvantages of options and decisions taken by the business in the case study. Talk about what could happen with different choices. Be fair in your evaluation. Every answer should have a conclusion. Sum up what you've said. A good conclusion leaves a strong impression.

RV Business Management is tailored to optimize your academic success in IB Business Management by fostering continuous practice. It offers a diverse range of question formats, including multiple-choice questions, short and long-answer questions, and data-based questions. RV Business Management ensures comprehensive coverage of IB Business Management syllabus topics, with real-time feedback on your performance provided through practice questions, topic quizzes, progress tracking, mock exams, instructional videos that offer detailed explanations and solutions for questions from past examinations, and predictive assessments.

Our question formats incorporate unique diagrams, graphs, and images, mirroring the style of questions typically encountered in International Baccalaureate exams. The RV Business Management platform is designed for flexible self-paced study, and its accessibility from various devices ensures convenient learning opportunities at your convenience.

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More IB Business Mgmt Resources

Questionbank.

All the questions you could need! Sorted by topic and arranged by difficulty, with mark schemes and video solutions for every question.

Practice Exams

Choose your revision tool! Contains topic quizzes for focused study, Revision Village mock exams covering the whole syllabus, and the revision ladder to precisely target your learning.

Key Concepts

Helpful refreshers summarizing exactly what you need to know about the most important concepts covered in the course.

Past Papers

Full worked solutions to all past paper questions, taught by experienced IB instructors.

IBDP Business Management

Website by Paul Hoang

Updated 17 April 2024

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• Paper 1 Pre-release case study
• Old course (N23)

Aims and overview of the Paper 1 assessment

The Paper 1 examination for May 2022 has been rescheduled for Friday 28th April 2023 (morning session for Exam zones B and C, and afternoon session for Exam zone A). For details of Exam zone, click the link here .

The Paper 1 examination for November 2023 is scheduled for Monday 24th October 2023 (afternoon session). This is the final examination of the Paper 1 in its current format.

Please click the icon below to see the revised timings and weightings that were used for the Paper 1 exams for the M21 to N22 sessions. These adaptations were made by the IB in recognition of the huge challenges that students and teachers faced during the prolonged coronavirus pandemic and school closures.

Revised timings, marks, and weights for IB Business Management exams (May 2021 - Nov 2022)

Revised timings

1 SL candidates answer only one question (not two) from Section A, plus the complusory question in Section B.

2 Section C ( CUEGIS essay) has been removed from the May 2022 Paper 2 exam.

3 HL students answer two questions from Section A and the compulsory question in Section B. Section C of the examination (including unseen data/information for the PU case study) has been removed for M22.

4 Section C (CUEGIS essay) has also been removed from the M21 - N22 Paper 2 exam.

Revised marks and weightings (SL)

Revised marks and weightings (HL)

Source : M21 adapted assessment: Modified marks, weightings and examination times, p.11

Download a PDF version of the revised timings, marks, and weights by clicking the link here .

Please note that the IB has announced to Heads of School and DP Coordinators that the above changes will also apply to the examinations in May 2022 and November 2022.

The main aims and overview of the Paper 1 assessment are as follows:

Promotes a holistic approach to IB Business Management

Assesses all 5 topics of the IB BM syllabus

Section C: Extended response (essay) question (HL Only)

Carries 30% in the examination for SL and 35% for HL

Demands extensive analytical and critical thinking skills.

The pre-issued case study

Each exam session, the IB releases a pre-issued case study for the external examinations. This is made available on the PRC (Programme Resources Centre) - speak with your IB Coordinator if you are not sure how to access this resource.

For the May examination, the pre-issued case study is made available in February. For the November examination, the pre-issued case study is available on the PRC in August.

The case study is based on a hypothetical organization, which covers all 5 units in the syllabus. It can act as a useful stimuls for students when revising for both Paper 1 and Paper 2. Note: students must not use this organization for their CUEGIS essay in Paper 2, Section C!

FAQ 1: So, what would happen if a student decided to write about the organization featured in Paper 1 for their CUEGIS essay in Section C of Paper 2?

The CUEGIS essay in Paper 2 must be based on a real-world organization. The organization featured in the Paper 1pre-issued case study is a fictitious business. Therefore, students will be penalized if they choose to use the business organization featured in Paper 1!

Note: Schools are responsible for providing the formulae sheet + a clean copy of the pre-issued case study for students in the external exam. It is therefore useful to practice this by setting students a mock/trial exam for Paper 1.

Paper 1 – Standard Level

Section A: answer 2 of 3 structured questions

10 marks per question; there are no AO3 questions in Section A

Additional unseen additional material in Section B

Section B: answer the compulsory structured question worth 20 marks

Total = 40 marks

Time = 1 hour 15 mins examination

FAQ 2: What happens if a student answers all three questions in Section A?

This is not a recommended strategy! However, in such a case, the examiner will mark all three answers and award the top two marks. However, there is an opportunity cost if answering all three questions in Section A because students are likely to run out of time for Section B of the exam.

Paper 1 – Higher Level

Additional unseen material will be provided in the actual Paper 1 exam

Answer the compulsory question worth 20 marks

HL extension topics may be assessed

Total = 60 marks

Time = 2 hour 15 mins examination

FAQ 3: How do the HL and SL Paper 1 examinations differ from each other?

Sections A and B are very similar for SL and HL, although the latter can include HL extension or HL only topics as mentioned in the Guide (page 54). The main difference is Section C for HL only students, which is a single question worth 20 marks. This requires students to answer a business strategy question based on the pre-released material and the additional stimulus materials in Section B and Section C of the examination.

 ATL Activity - What do you know about the Paper 1 assessment?

What do you know about the Paper 1 assessment? Use any resource you have access to (such as the IB Business Management Guide) to answer the following questions:

Click the banner above to see details of two workshops being hosted by InThinking to support teachers preparing for the M22 Paper 1 examination.

For lesson ideas, research tasks, and other resources for the various IB Paper 1 case studies , click on the relevant hyperlink below:

May 2023 case study (Skandvig Terra PLC)

Nov 2022 case study (ELE PLC)

May 2022 case study (Peacewick University)

November 2021 case study (MegaminMining)

May 2021 case study (Multi Marketing)

November 2020 case study (Ducal Aspirateurs)

May 2020 case study (P&S Trawlers)

Overview: IB Business Management HL/SL (First Assessment 2024)

Note: The Business Management course changed recently. This article goes through the IB Business Management HL/SL course for the May 2024 cohort and beyond.

Do you want to investigate the relationship between people, businesses, and society while developing yourself as a creative, compassionate business leader or entrepreneur? Or are you interested in finding out how a variety of internal and external stakeholders are impacted by business decisions and how these choices are affected by internal and external factors? If you answered yes to any of those questions, then IB Business Management might be a subject for you!

IB Business Management courses focus on business operations, management procedures, and decision-making. It consists of 5 units:

• Introduction to Business Management
• Human Resource Management
• Finance and Accounts
• Operations Management

Most changes made to the IB Business Management curriculum are related to different subtopics. For example, subtopic 1.2 Types of Organization in the old syllabus has been renamed as 1.2 Types of Business Entities in the new syllabus. In other cases, subtopics have been moved to other units entirely. For instance, 3.2 Break Even Analysis has been moved to Unit 5.5. There are also some new additions to the syllabus. For example, topic 5.8 Management Information System to prepare students for the 21st century.

The IB also introduces the Business Management Toolkit in the syllabus, a collection of 15 tools, theories, and concepts that students can use to examine various multidisciplinary business contexts across the curriculum and in assessments (IAs and EE). You can find the official subject brief with the 2024 curriculum for SL here and HL here .

Key Concepts

Key concepts will help students to explore each unit from interdisciplinary and multiple perspectives. The new curriculum will start each unit with conceptual understanding statements that include the following four key concepts:

• Sustainability

Key concepts can be used to summarize significant concepts and fundamental methods that are at the center of the unit. For those who are studying the old syllabus (M16 – N23), you might notice only two in CUEGIS (Change, Culture, Ethics, Globalization, Innovation, and Strategy) remain – “ Change ” and “ Ethics ”. More importantly, students are required to use key concepts in their Internal Assessment when they need to solve real-world business problems. That is in addition to applying their business management tools and theories to solve the issues. More information about key concepts can be found here .

IB Business Management Assessment

Paper 1 (sl/hl).

Both SL and HL students now have approximately 1 hour and 30 minutes to complete Paper 1. While still based on an extended case study, it will now only be partly pre-released as a 200-word introduction and a list of topics providing the theme and context. These topics will require about five hours of research from the students. It evaluates students’ understanding of business topics that were not in the syllabus to  account for the dynamic nature of business. During the exam, students will receive a booklet with an unrevealed case study to use (800 – 1,000 words). Paper 1 could be on any of the five units, except for HL only topics. Paper 1 is out of 30 marks: 20 for section A and 10 for section B. This makes up 35% of your course grade for SL and 25% for HL.

Paper 2 (SL/HL)

In Paper 2, most of the questions are quantitative and demand in-depth analysis and evaluation utilizing business theories and techniques, but they will be similar to the old syllabus format. An examination booklet will be given to students, including stimulus material, as well as charts, tables, and infographics. 

All five units of the syllabus can be assessed. Due to additional material that covers HL-only topics, section A has one additional question for HL students. One of the section B stimulus options for SL students can be focused on social enterprise (non-profit or for-profit organizations). SL students will have 1 hour 30 minutes and HL students will have 1 hour 45 minutes to complete the paper. 

For section A, SL students must respond to both sets of structured questions based on the case study (total of 20 marks) and HL students will be required to respond to three sets of structured questions (total of 30 marks). Both SL and HL students must respond to 1 out of 2 questions in section B, along with an extended response question based on the stimulus material, for a total of 20 points. For SL and HL, Paper 2 accounts for 35% and 30% of students’ course grades, respectively.

Paper 3 (HL Only)

The new Paper 3 requires students to identify and describe a human need and any potential organizational obstacles that a social entrepreneur might encounter to address this need. The paper is intended to align with the CAS program’s goals, the IB mission statement, and the goals of the new course. Stimulus material will consist of a brief introduction, followed by excerpts from emails, Twitter feeds, and newspaper articles. Students must complete a single compulsory structure set of questions based on that stimulus material provided in 1 hour and 15 minutes . Students will then suggest a plan of action as a strategic move for the social enterprise. For HL, Paper 3 accounts for 25% of students’ course grades.

Internal Assessment

For the new syllabus, the Internal Assessment will be common for both SL and HL. For SL students, the IA is relatively more important because it makes up 30% of their course grade, compared to 20% for HL students. Utilizing one of the four key concepts, students are required to conduct research on a current or existing real business issue affecting a specific organization. Their research questions can be forward or backward-looking and are based on secondary research questions. The word count limit for the Business IA is 1800 words. More information about Internal Assessment can be found here .

IB Business Management is thought to be a relatively straightforward course. The exercise is straightforward if you are familiar with the material covered in the five parts of your syllabus, the case study you get before the exam, and maximizing your mark on your IA. This course will give you insight into all principles: marketing, business organization, human resource management, finance, operations, etc. I strongly recommend that you choose IB Business Management if you plan to study a business-related major at university.

You may also like…

• Joseph Quek’s How to prepare for the Business Management Case Study (from an SL student)
• Wangari Mbuthia’s Tips for Business Management SL IA
• Elena Alimin’s Overview: Business Management HL IA

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hii i just wanted to know does this mean that paper 2 will no longer have section c?

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Case Study "Before One PLC" for IBDP Business May 2024 Exam

The much-awaited IBDP Business case study for the upcoming May 2024 Examination has now been unveiled. You can download the M24 Business Case Study here .

Are you ready to enjoy this “Musical Festival” with business management case study?

The IBDP Business Management Paper 1 exam is scheduled for Friday, 26 th April 2024. For detailed information on the examination schedule, click here .

What is the Paper 1 Assessment?

Paper 1 in IB Business Management  encourages a comprehensive approach to the subject. It evaluates all five units of the syllabus and includes an Extended Response Question (Essay) section for Higher Level (HL) students. This assessment task challenges students to enhance their analytical and critical thinking abilities.

What is this M24 Case Study all about?

The IB Organization has released a pre-released case study featuring "Before One PLC," a company that organizes music festivals since 200.

This case study is centered around the idea that global music festivals are on the rise, featuring diverse locations and genres, from commercial events on farmland to community-led gatherings in public parks. One PLC (BON), a European company organizing festivals since 2001, transitioned to a public limited company in 2016 for expansion.

With 60 permanent employees and reliance on temporary workers, BON hosts five festivals yearly, paying farmers an average of $100,000 per event. Cleanup costs average $250,000. The festival season runs from May to August, with each event spanning Friday to Sunday, requiring two weeks for setup and one for dismantling. BON faces challenges in environmental sustainability.

Overview of IBDP Business Paper 1 Assessment

IBDP Business Management  – SL 

IBDP Business Management – HL

How to Prepare to Ace Your Case Study Paper?

Blen will provide you with valuable tips on how to excel in your IBDP Business Paper 1 Case Study.

Grasp the Case Study : Invest time in carefully reading and analyzing the case study. Make notes, highlight key details, and create a concise summary.

Understand the paper's format : familiarize yourself with the paper's format, as questions typically revolve around all five topics within your ibdp business management syllabus. this will aid you in structuring your responses correctly and managing your time effectively., utilize suitable business terminology : incorporate appropriate business terminology to showcase your knowledge and comprehension of the subject matter..

Blen brings you the full analysis of IBDP Business M24 Case Study. Elevate your IBDP performance with Blen – because why waste time when you can learn from the best?

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