Acronyms:
K = Business Knowledge and Theory
A = Application/Analysis of knowledge and theory to answer question. Explain: Why does this matter?
CL = Case Link is directly connecting the theory to things that are happening in the case (Evidence from the Case).
E = Evaluation is assessing the value, importance, or quality and making a judgement or forming a conclusion taking into account the priorities of the company and how does the analysis meets that priority (profit, business objectives, employee motivation, retention, etc). Short and Long Term Impact on business and important stakeholders
Usually only requires 1-3 sentences
Only need to answer the question and not more.
(a) is only a Knowledge question and does not need a case link. Only requires a textbook definition and maybe a small example.
(ii) question says "for CD" and therefore needs a Case Link. Only requires 1 benefit and is marked: (1 mark to answer the question of one benefit + 1 mark for application to the case study)
Please Answer with K, A, CL
(ii) says "for the new pie", however you only need to show your calculations along with the calculated correct answer
(c) says "for PP of selling older non-current assets to finance the production of the new pie" and therefore needs a Case Link. Only requires 1 disadvantage and is marked (1 mark to answer the question of one disadvantage + 1 mark for application to the case study)
Please Answer with K, A, CL
(a) is only a Knowledge question and does not need a case link. Only requires a textbook definition, including a feature of supply chain and maybe a small example.
Eg: one advantage and one disadvantage of Company X becoming a public company
“K” 1st sentence: define the main term (public company)
Sentences 2 & 3: “A” one advantage of going public, clearly referencing the context of the company in the case study “CL”
Sentences 4 & 5: “A” one disadvantage of going public, clearly referencing the context of the company in the case study “CL”
Paragraph 1
K
A
CL
Paragraph 2
K (only if you're introducing another new business term)
A
CL
Explain one advantage and one disadvantage for StellarTech to decentralize their hierarchical structure.
Advantage:
K: Decentralization involves delegating decision-making authority to lower levels within the organization.
A: It can lead to faster decision-making and improved adaptability, especially for global offices with differing cultural expectations.
CL: For example, StellarTech’s North American office has pushed for more autonomy, which could be addressed through decentralization.
Disadvantage:
K: A disadvantage of decentralization is the potential for inconsistent decision-making across different offices.
A: Without clear guidelines, employees in decentralized offices may make decisions that conflict with the company’s overall strategic goals.
CL: For instance, the Stockholm headquarters favors structure, and decentralization could lead to friction with other offices advocating for autonomy.
Marked as 3+3
1 mark for identifying the challenge
1 mark for explaining why it's a challenge
1 mark for case link (applying it to the stimulus material)
Mark as [3+3].
Award [1] for identification of a challenge, [1] for explanation and [1] for application to SML.
Example: Explain two possible challenges facing SML. [6]
Format:
Use the following format for each of the two challenges (you do not need to exceed two paragraphs for this).
Identify the challenge facing the organization.
Explain how this is a challenge.
Apply the stimulus material to support your explanation.
Paragraph 1
Identify
Explain
Apply
Paragraph 2
Identify
Explain
Apply
More detail, depth and clarity requirement compared to a 4 mark question.
Explain: Give a detailed account including reasons or causes.
Example:
Explain one way in which Jackie is potentially meeting MT’s ethical objectives (lines 16–18) and one way in which she is not. [6]
Accept any other relevant answer.
Mark as 3 + 3.
Award [1] for stating a potential ethical action and, depending on the depth and clarity of the explanation, an additional [2–3]
Award [1] for stating a potential unethical action and, depending on the depth and clarity of the explanation, an additional [2–3]
Up to a maximum of [6].
To score 9 – 10 marks (the top mark band), students must demonstrate evidence of the following:
Clear focus on addressing the demands of the question
Refer to the impacts of business decisions (include implications of doing the action or not doing the action,
eg. "Recommend if Dales should stop outsourcing the cleaning of hotel rooms"; what would be the implications of Dale stopping outsourcing and of not stopping outsourcing? If Dales stops outsourcing its cleaners, the costs are likely to rise, but they would be able to monitor and improve quality
Relevant and accurate use of business management tools and theories.
Explain and Justify the tools and theories you use in y our answer
Eg. if you use staff turnover rate, tell the examiner why you believe it's relevant (a high turnover rate means high costs for ongoing recruitment and training)
Use business terminology as much as possible such as "profit", "wages", "recruitment", competitive environment", quality
Relevant information from the stimulus material is integrated effectively to support the argument.
Quote short extracts of the case study to help make a point
Arguments are substantiated and balanced, with an explanation of the limitations of the case study or stimulus material.
Balance refers to positives (+) and negatives (-), but also quantitative (#, $) and qualitative (finance versus human resources)
Justify your judgements and your final recommendation: provide evidence and justification for all of the points that you make, using elements from the case study (quoting it) as well as your knowledge of business management
Explanation of Limitations of the case study: explain what information is missing from the case study that would be needed to provide better evaluation of the business problem.
Incomplete or biased Information
Limited scope or generalizations
Lack of current or up-to-date information
Assumptions and uncertainties
Limited perspectives
Recommend:
4 main points with a short introduction and conclusion (6 paragraphs total):
Paragraph 1: short Introduction of issue
Paragraph 2: Advantage of recommendation +
K
A
CL
E
Paragraph 3: Advantage of recommendation +
K
A
CL
E
Paragraph 4: Disadvantage of recommendation -
K
A
CL
E
Paragraph 5: Disadvantage of recommendation -
K
A
CL
E
Paragraph 6:
Conclusion/Final Recommendation
What are the priorities of the company and how does your analysis meet that priority?
Answer the question!
Overcoming drawbacks
Limitations of the case study
Explanation of the limitations of the case study or stimulus material
How can you structure your paragraphs?
Incomplete or biased Information
Limited scope or generalizations
Lack of current or up-to-date information
Assumptions and uncertainties
Limited perspectives
Incomplete or biased Information
The case study or stimulus material may not provide a comprehensive or balanced view of the situation, e.g., not all Business Management case studies will contain quantitative data related to the issue at hand or there might be other perspectives that have been omitted.
Limited scope or generalizations
The case study or stimulus material may focus on a specific context, country, industry (market), or time period, which could limit its applicability to other situations and cultures.
Candidates should assess the extent to which the information can be generalized or applied to a broader context, especially when discussed in the context of multinational companies and their operations in different parts of the world.
Candidates could also consider potential limitations arising from the narrow scope of the provided stimulus material.
Lack of current or up-to-date information
The case study or stimulus material may not reflect the most current or up-to-date information or may not consider recent developments or changes in the business environment
(no one could have predicted COVID-19, let alone the widespread and prolonged negative impacts on the operations of businesses all across the globe).
Candidates can assess the relevance of the information and acknowledge any limitations arising from the lack of current or up-to-date data.
Assumptions and uncertainties
The case study or stimulus material may be based on certain assumptions or contain uncertainties that impact the accuracy or reliability of the information
e.g., the motivation theories in the syllabus are all based on North American scholars. Hence, there could be an assumption that what motivates people in one part of the world automatically applies to all parts of the world, but this is certainly not the case and it would be naive to assume so.
Therefore, candidates should critically evaluate the assumptions made and discuss any uncertainties present, highlighting their potential impact on the analysis and decision-making process.
Limited perspectives
The case study or stimulus material may present a limited range of perspectives (from different sources and/or stakeholder perspectives)
Are there alternative viewpoints not considered?
Candidates could consider whether different stakeholders, cultural or ethical perspectives, or alternative strategies have been considered or adequately addressed.
They could discuss the limitations arising from the lack of diverse perspectives in the provided material and how that might impact the analysis and conclusion.
Google Doc version: here
You can copy and paste the case study and questions here to create an answer key.
Three questions: 2 mark, 6 mark, 17 mark
For part (a) of Paper 3, students need to be able to identify and describe an example of a human need. This can include consideration of:
Maslow’s hierarchy of needs
McClelland’s theory of needs
Sustainable Development Goals and human needs
Ecological, Economic, and Social (Cultural) sustainability needs
Stakeholder needs.
For part (b) of Paper 3, students must also be able to explain the potential organizational challenges facing the social entrepreneur wanting to meet the human need that is identified and described in part (a).
Examples of organizational challenges include:
SWOT analysis (BMT)
STEEPLE analysis (BMT)
Hofstede's cultural dimensions (BMT)
Human resources
Financial resources, e.g., liquidity and budgeting
Marketing
Operations management
Leadership and management
When structuring your answers to this question in Paper 3, use the following format for each of the two challenges (you do not need to exceed two paragraphs for this).
Identify the challenge facing the organization
Describe how this is a challenge
Apply the stimulus material to support your description.
Example Structure:
For part (c), the final section of Paper 3, students are required to write a decision-making document that includes a business recommendation or plan of action. This extended response question is worth 17 marks (that's not a typo!)
Criterion A - Use of resource materials (4 marks)
Criterion B - Business management tools and theories (4 marks)
Criterion C - Evaluation (6 marks)
Criterion D - Sequencing of ideas and plan of action (3 marks).
You must demonstrate your knowledge, understanding, and the capacity to explain, summarize, and evaluate the evidence provided in the stimulus material in order to provide a recommendation (business strategy or plan of action) for the social enterprise.
The response makes reference to all resource materials provided to effectively support the recommended plan of action.
reference to all stimulus materials provided in the exam, namely all 5 or 6 excerpts from various documents (such as emails, Twitter feeds, and newspaper articles)
using the stimulus materials from the excerpts in an effective way to support the recommendations (plan of action).
The response effectively applies appropriate business management tools and theories.
As this is an academic piece of work, the response must demonstrate clear, appropriate, and effective use of relevant business management tools and theories, throughout the extended response question.
Any of the fifteen tools from the Business Management Toolkit (BMT) can be used, where appropriate, for this purpose.
The student effectively evaluates the expected impact of their plan of action on the relevant areas of the business and considers the trade-offs between those areas.
the realistically expected impacts of their recommendations (plan of action)
reference to the relevant areas of the business that are likely to be impacted, such as human resource, finance and accounts, operations management and/or marketing functions of the social enterprise.
the probable opportunity costs (sacrifices or trade-offs) due to the recommendations (plan of action).
Wider Implications:
As a general rule, remember that all business decisions (recommendations in the plan of action) have at least two wider implications on an organization:
The impact on human resources - Students should consider how their recommendations (in the plan of action) are likely to affect employees, perhaps in terms of training needs or their level of motivation and productivity.
The impact on finances - Every business decision / plan of action / strategy will have a direct impact on the organization's finances. Students should consider how their recommendations (in the plan of action) will affect the organization's finances. For example, are the recommendations viable (realistic) given the firm's budgets and current financial position?
The response effectively sequences appropriate ideas and a plan of action in a clear and coherent manner.
must use fit for purpose paragraphs and ensure the ideas and the plan of action in the extended response answer flow in a logical and well-organized way.
Structure Tip:
When structuring your answers to part (c) in Paper 3, make sure your answer to the 17-mark essay contains the following:
Introduction - include any key terms that may need to be defined.
Body - three or four main paragraphs that address the demands of the question.*
Conclusion - answer the question in its entirety.
Fit for purpose paragraph - use the PEEL framework (each paragraph is about one point, contains examples and explanations, and is directly linked to the question).
* The body of the extended response should have elements of an action plan that address each of the two challenges you explained in part (b) of Paper 3.
Human Resource action plan
Marketing action plan
Operations Management action plan
Finance action plan
Description
A well-designed human resource plan of action is crucial for the success of any organization as it helps to attract and retain the best employees, enhance their performance, and ultimately contribute to the achievement of the social enterprise's corporate objectives.
Examples of content
Workforce planning, Recruitment and selection, Training and development, Retention strategies, Performance management (appraisals), Financial and non-financial motivation, Motivation theory, Diversity and inclusion policies.
Description
A well-designed marketing action plan is critical for the success of any business, as it helps the organization to reach and engage with customers, differentiate their products from those offered by competitors, and ultimately drive sales revenue and growth.
Examples of content
Marketing objectives, Marketing planning, Market research, Segmentation, targeting, and positioning (STP), Sales forecasting, The marketing mix, Marketing budgets, International marketing.
Description
A well-designed operations management action plan is vital for the functioning and performance of a business as it helps to ensure that goods and/or services are produced efficiently and with consistent quality, while minimizing waste and reducing production costs.
Examples of content
Capacity and capacity utilization, Quality management, Inventory management (stock control), Local and global supply chain management, Research and development (R&D), Contingency planning, Management information systems (MIS).
Description
A well-designed finance action plan is important for the success of any business as no strategy can be executed without the necessary funds. The plan helps to ensure that the business considers the necessary financial resources to operate, grow, and make strategic decisions, while managing financial risks and providing stakeholders with transparent and accurate financial information.
Examples of content
Capital expenditure, Costs and revenues (including revenue streams), Sources of finance, Financial analysis (including ratio analysis), Investment appraisal, Budgeting (including variance analysis), Cash flow management.
OLD SYLLABUS IB Textbook with comments on how to score well on exam questions - Thank you Loykie!