IB Diploma · Business Studies · Chapter 2

Ch 2 1.3 Business objectives: complete notes

Neat, exam-ready notebook-style notes for Ch 2 1.3 Business objectives, following the IB Diploma syllabus, SL and HL. This chapter is part of the complete Business Management Notes for IB Diploma Students (SL and HL): All 36 Topics.

Free preview: Ch 2 1.3 Business objectives notes

A quick look at the chapter from our IB Diploma Business Studies notes. The full chapter notes have the detailed explanations, diagrams and practice questions with answers.

Topics in this chapter

1. What you must be able to do
2. What do they do for a business?
3. Profit maximising or satisficing?
4. Ethical objectives
5. Why do objectives change?
6. Does CSR help business creativity?

“I can” checklist: what you must be able to do

• I can distinguish a vision statement from a mission statement and explain what each is for.
• I can explain growth, profit, shareholder value and ethical objectives and calculate growth, market share, margin and dividend per share.
• I can explain why a business may satisfice instead of maximising profit.
• I can evaluate how strategic and tactical objectives differ and how they link, and explain why objectives change.
• I can evaluate arguments for and against CSR and use the triple bottom line.
• I can use a decision tree to find the expected value of an option and the break-even probability.
• I can use SWOT, STEEPLE, a business plan and circular business models to support a judgement on objectives.

What is inside the full chapter notes

• Concept notes with 8 worked examples (all numbers computed)
• Diagrams: hierarchy of aims, triple bottom line, SWOT, decision tree
• Applying-it-to-a-case boxes: AO2 explain and AO3 evaluate paragraphs
• Tool boxes, common mistakes and a "How to score" command-term box
• 12 Quick-check questions A-D, explained
• Paper 1 style case (Fennick Fabrics), mark scheme and 10-mark question
• Paper 2 style data question (Dovecote Toys) with mark scheme
• Quick reference and "I can" checklist

See real pages (free sample)

Get all 36 chapters · ₹499

What you get in the pack

• All 36 topics of IB Diploma Business Management for students taking Standard Level or Higher Level (first assessment 2024): what a business is, business entities, objectives, stakeholders, growth, multinationals, human resource management, organizational structure, leadership, motivation, culture, communication, industrial relations, sources of finance, costs and revenues, final accounts, ratio analysis, cash flow, investment appraisal, budgets, marketing planning, sales forecasting, market research, the seven Ps, international marketing, operations methods, lean production, location, break-even analysis, crisis management, research and development, management information systems
• Every syllabus statement covered in order, each marked SL or HL, with clear notes, tables and diagrams drawn for these notes
• Worked examples in every topic: calculations and model answers that show how to earn the marks
• Quick-check multiple-choice questions with explained answers, plus original Paper 1 (case study), Paper 2 (quantitative) and, for HL, Paper 3 (social enterprise) style questions with full mark schemes (no past-paper reprints)
• Common mistakes and a how-to-score command-term guide for every topic
• Quick-reference sheet and an "I can" checklist at the end of every topic
• Colour PDF and a black and white copy of every chapter for printing
• Independent notes for IB Diploma students; not endorsed by or affiliated with the International Baccalaureate Organization (IBO)

All chapters in this pack

1. Ch 1 1.1-1.2 The nature of business and types of business entity
2. Ch 2 1.3 Business objectives
3. Ch 3 1.4 Stakeholders
4. Ch 4 1.5 Growth and evolution
5. Ch 5 1.6 Multinational companies (MNCs)
6. Ch 6 2.1 Introduction to human resource management
7. Ch 7 2.2 Organizational structure
8. Ch 8 2.3 Leadership and management
9. Ch 9 2.4 Motivation and demotivation
10. Ch 10 2.5 Organizational (corporate) culture (HL)
11. Ch 11 2.6 Communication
12. Ch 12 2.7 Industrial and employee relations (HL)
13. Ch 13 3.1 Introduction to finance
14. Ch 14 3.2 Sources of finance
15. Ch 15 3.3 Costs and revenues
16. Ch 16 3.4 Final accounts
17. Ch 17 3.5 Profitability and liquidity ratio analysis
18. Ch 18 3.6 Efficiency ratio analysis (HL)
19. Ch 19 3.7 Cash flow
20. Ch 20 3.8 Investment appraisal
21. Ch 21 3.9 Budgets (HL)
22. Ch 22 4.1 Introduction to marketing
23. Ch 23 4.2 Marketing planning
24. Ch 24 4.3 Sales forecasting (HL)
25. Ch 25 4.4 Market research
26. Ch 26 4.5 The seven Ps of the marketing mix
27. Ch 27 4.6 International marketing (HL)
28. Ch 28 5.1 Introduction to operations management
29. Ch 29 5.2 Operations methods
30. Ch 30 5.3 Lean production and quality management (HL)
31. Ch 31 5.4 Location
32. Ch 32 5.5 Break-even analysis
33. Ch 33 5.6 Production planning (HL)
34. Ch 34 5.7 Crisis management and contingency planning (HL)
35. Ch 35 5.8 Research and development (HL)
36. Ch 36 5.9 Management information systems (HL)