IB-Business Management_Review1

Unit 1- Nature of Business Activity

100

An analytical tool that helps managers to choose and devise various product and market growth strategies

What is Ansoff's Matrix

200

Refer to an increase in the average costs of production as a firm grows due to factors beyond its control. 

What are external dis-economies of scale

300

The growing integration and interdependence of the world's economies, causing consumers around the globe to have increasingly similar habits and tastes. 

What is globalisation?

400

Tariffs (customs duties), quotas, subsidies, embargo's, technological and safety standards

What are protectionist measures that governments can use to safeguard domestic businesses from foreign competitors?

500

Communication problems, added complexities, compliance costs, disclosure of information, bureaucracy and loss of control.

What are the disadvantages of being a public limited company?

Unit 2- Human Resources

100

The number of people who are directly accountable to a manager.

What is a span of control?

200

The official administrative and formal rules of an organisation that govern business activity. It involves prescribed rules and policies, standardised procedures and formal hierarchical structures.

What is the meaning of bureaucracy? 

300

Growth of firms and subsequent increased bureaucracy, mergers and acquisitions and change in leadership. 

What are the causes of culture clashes in organisations?

400

Culture, attitudes, traits, subordinates, task and time constraints

What are factors influencing management and leadership style?

500

Job enrichment, job enlargement, job enlargement, empowerment, purpose, the opportunity to make a difference and teamwork. 

What are examples of non financial motivators

Unit 4- The Role of Marketing

100

The company that has the highest sales revenue of the whole market. 

What is market leadership?

200

The act of distinguishing a business or its products from rivals in the industry. 

What is differentiation?

300

Activities designed to discover the opinions, beliefs, preferences of potential and existing customers. 

What is market research?

400

This refers to organisations being able to take advantage of another channel of distribution as well as another source of revenue, greater flexibility for organisations to be able to respond more quickly to competitors, reduced packaging, fewer overheads, reduced overheads and increased choice and convenience for customers. 

What are the benefits of e-commerce?

500

involves temporarily reducing price in an attempt to force rivals out of the industry as they cannot compete profitably. The strategy often stems from a price war, whereby firms compete by a series of intensive price cuts. 

What is predatory pricing or destroyer pricing?