BUSINESS MANAGEMENT TOOLKIT

• The new Business Management Toolkit (BMT) is a set of interrelated tools and techniques that can be used by students in different disciplinary and interdisciplinary contexts across the contents of the new syllabus, including assessments (such as the IA and the Business Management EE).

• The BMT is part of the syllabus content but it is expected that teachers will integrate the toolkit throughout the teaching of the new course.

• The Business Management Toolkit consists of 15 different tools. Eight of these are applicable to both  SL and HL students, whilst an additional seven are included for HL students. 

THE 15 BUSINESS TOOLS

1. SWOT analysis

2. Ansoff's matrix

3. STEEPLE analysis

4. Boston Consulting Group matrix

5. Business plan

6. Decision trees

7. Descriptive statistics

8. Circular business models

9. Gantt charts (HL only)

10. Porter's generic strategies (HL only)

11. Hofstede's cultural dimensions (HL only)

12. Force field analysis (HL only)

13. Critical path analysis (HL only)

14. Contribution (analysis) (HL only)

15. Simple linear regression (HL only)

Please also note the following:

• Students are expected to use the BMT in answering specific examination questions, e.g., Specimen HL P2 Q4d (STEEPLE analysis) and Q5d (BCG matrix). An example is "Using the data provided in Table X, the information in the stimulus, and a Boston Consulting Group (BCG) matrix, recommend to Company Y which product should be removed from its portfolio in order to remain profitable."

• The BMT can be explicitly examined, e.g., see Specimen HL P2 Q3 (b) (i) and (ii) refer to the mean average, and (b) (iii) refers to the line of best fit.

• The BMT is applied to the content of the syllabus whilst the context is given in the question paper in the examination. Two examples are provided below for illustrative purposes:

1. Unit 1.5 - Using a SWOT analysis, discuss whether Company A should merge with Company B (mergers and acquisitions AO3).

2. Unit 2.1 - With reference to force field analysis, explain the reasons for resistance to change amongst the employees in Company X (reasons for resistance to change in the workplace AO2).

• Students will not be asked to analyse or evaluate the tools in isolation. For example a question such as “Evaluate SWOT analysis as a business management tool” will not be asked in the examination.

• Essentially, the tools in the BMT can be used as a framework to answer extended response questions in the external examinations.

• The BMT can be a useful basis for inquiry, e.g., using Ansoff’s matrix, evaluate the growth strategies for an organization of your choice. There are suggestions for the integration of each tool in the BMT (click the hyperlinks in the above table).

• Any appropriate combination of the tools in the BMT can be used in the new Business Management Internal Assessment and Extended Essay.

• Students will be suitably rewarded if these tools are relevant to the investigation and the specific research question, accurately applied, with a clear understanding demonstrated.