How to excel in IB Business Management

Business is a popular subject that can be studied as part of IB subject group 3, Individuals and Societies. At Higher level, this would benefit someone interested in studying business or an adjacent subject at university such as International Management at the University of Bath, whilst those students focusing on science or another subject area may also want to study it either at Standard or Higher Level as an alternative to one of the more strictly academic subjects within the group, such as history, philosophy or economics.

What do I need to know for IB Business?

As with the majority of IB courses, Business Management can be studied at either Higher or Standard Level. The substantive and procedural knowledge required differs according to level, and is set out below:

Standard Level (SL):

1. Business Organization and Environment:

  • Types of Businesses: Sole traders, partnerships, corporations.

  • Organisational Structure: Hierarchical, matrix, flat structures.

  • External Environment: Market dynamics, competition, legal and economic influences.

  • Globalisation: Impact on business strategies and operations.

2. Human Resource Management:

  • HR Planning: Recruitment, selection, training, and development.

  • Motivation and Leadership: Theories, leadership styles, and organisational culture.

  • Employee Relations: Conflict resolution, performance management.

3. Finance and Accounts:

  • Financial Statements: Interpretation, ratios for performance analysis.

  • Sources of Finance: Short-term, long-term sources, investment appraisal techniques.

4. Marketing:

  • Marketing Strategy: Market segmentation, targeting, marketing mix.

  • Consumer Behaviour: Factors influencing behaviour, marketing research methods.

5. Operations Management:

  • Production Methods: Efficiency, quality control, supply chain management.

  • Project Management: Planning, execution, and risk assessment in operations.


Higher Level (HL):

In addition to the SL topics, HL covers more in-depth concepts including:

1. Business Strategy:

  • Strategic Planning: SWOT analysis, Porter's Five Forces, competitive advantage.

  • Strategic Direction: Growth strategies, diversification, differentiation strategies.

2. Analysis and Decision-making:

  • Decision-making Tools: Quantitative and qualitative analysis techniques.

  • Business Performance Evaluation: Using financial and non-financial data.

3. Organisational Structure and Culture:

  • Change Management: Approaches to change, managing resistance.

  • Organisational Behaviour: Impact of structure and culture on performance.

4. Innovation and Change:

  • Innovation Strategies: Implementing innovation, fostering creativity.

  • Change Management: Strategies, challenges, and implications for organisations.

5. Globalisation and International Business:

  • Global Market Expansion: Entry strategies, cultural considerations.

  • Managing Global Operations: Logistics, cultural diversity in management.

While SL provides foundational knowledge across business domains, HL delves deeper into strategic and complex areas, demanding more critical and in-depth understanding of the subject. The IB Business Management curriculum aims to equip students with the analytical, decision-making, and strategic skills essential for success in the business world.

What are the findings from recent Examiners’ Reports?

When planning your revision for IB Business Management, a crucial first step is to consult specific examiner reports for the most accurate and detailed insights into areas that require particular attention. These general observations aim to provide guidance based on common challenges encountered in Business Management exams. Here we provide an overview of recent examiners’ reports, which have identified the following common areas where pitfalls are observed:

1. Application of Business Concepts:

  • Issue: Some candidates may struggle to apply business concepts to real-world scenarios.

  • Improvement: Encourage a deeper understanding of theories and ensure students can relate them to practical business situations.

2. Critical Analysis:

  • Issue: Lack of depth in critical analysis, especially in evaluating strategies and decisions.

  • Improvement: Emphasise the importance of evaluating and critically analysing business strategies, decisions, and their implications.

3. Use of Business Terminology:

  • Issue: Inconsistent or incorrect use of business terminology.

  • Improvement: Reinforce the correct application of business terms and concepts. Encourage precise and accurate language.

4. Evaluation of Quantitative Data:

  • Issue: Difficulty in effectively using quantitative data for decision-making.

  • Improvement: Enhance students' skills in interpreting and utilising quantitative data to support business decisions.

5. Integration of Cross-Functional Knowledge:

  • Issue: Limited integration of knowledge across different business functions.

  • Improvement: Encourage students to recognize interdependencies between various business functions and demonstrate a holistic understanding.

7. Balanced Responses:

  • Issue: Some responses may lack balance, focusing excessively on one aspect of the question.

  • Improvement: Emphasise the importance of providing well-rounded responses that address all components of the question.

8. Case Study Analysis:

  • Issue: Difficulty in applying theoretical knowledge to case study analyses.

  • Improvement: Incorporate more case study practice in preparation, helping students connect theoretical concepts to practical business situations.

Our Insights

Business Management can be a challenging subject at IB in terms of the breadth of the content required, as well as the need to apply concepts consistently to real-life use cases. Chapkin Edwards’ expert tutors have worked to provide here a few choice insights as to how you can ace your IB in Business Management, whether at Standard or Higher level.

Take a methodical approach to your revision of core content. Familiarise yourself thoroughly with the IB Business Management syllabus by breaking down each topic area into its core components. Even if you are studying Higher Level, make sure that you are aware of those elements which are Standard level and which are Higher. When beginning your revision, ensure that you tackle core, Standard level content first before moving on to higher level content. We would advise you to ensure that your knowledge of the different types of business organisation is secure, for example, before moving on to look at business strategy.

Apply business concepts to real-life scenarios. Think about practical, real-life applications for your burgeoning theoretical mastery of business management. Begin by speaking to your parents about their work. Do they work as a sole trader, as part of a corporation or for the public sector? Explain to them exactly why you have decided to categorise them as one of these. Seeking work experience as part of a small business is also a great way to see how business theory can be applied in reality. 


Make full use of a range of resources. There are plentiful resources for studying IB Business Management. The excellent books by Paul Hoang (5th Edition) and Malcolm Surridge are a great place to start. Super-curricular reading provides extra breadth and depth, and will get you thinking about the implications of the theoretical knowledge that you get from teaching and the IB textbooks. Mike Michalowicz’s Profit First: A Simple System to Transform Any Business from a Cash-Eating Monster to a Money-Making Machine (2014) is a highly readable, instructive book which will be a great start in helping you do just that.

IB Business Management Tutoring at Chapkin Edwards

Chapkin Edwards is a leading provider of expert tuition, homeschooling and school and university admissions support. If your child requires tutoring in Business Management or any other subject at IB, please contact us here.

Josh Chapkin