·         Get a good sense of what is in the formula sheet (and how to use each formula)

·         Do tables and graphs early on (before you get tired and stressed)

·         ANSWER ALL QUESTIONS (you don’t get penalized for a wrong guess)...

·        ... BUT NOTE that some sections ask you to only answer 1 or two of the questions.

·         If in doubt, show your working (remember units, explanations, names of the stuff you calculated etc….DO NOT assume that the moderator can guess what you’re doing)

·         Any question of 8 marks or more has to have a conclusion!

·         Make a plan for 10+ mark questions BEFORE you start writing!

·         RE-MEM-BER UNITS!!!! And LABELS...on EVERYTHING

TOOLKIT in Onenote

Note that the vast majority of the formulae for the key terms or quantitative techniques below do not appear in the formulae sheet for external assessments (pages 64 - 65 of the guide).

Also, please note that the prescribed formats for the balance sheet, profit & loss account, cash flow forecasts, budgets, and the discount factors (needed to calculate NPV) are not included in the formulae sheet for the external exams.

*Note that some techniques are HL only. SL students; if you see something you don't recognize, double check the guide to see if it applies to you :-)

• Absorption costing

• Acid test (quick) ratio

• Annual depreciation (for straight line method)

• Average costs (or average total cost)

• Average fixed cost*

• Average rate of return (ARR)

• Average stock

• Average variable costs*

• Bar charts (descriptive statistics)

• Break-even quantity/point

• Buffer stock (production planning)

• Capacity utilization rate

• Capital employed

• Capital intensity*

• Capital productivity rate

• Closing balance (cash flow forecasts)

• Contribution (break-even analysis)

• Contribution costing

• Contribution per unit (unit contribution)^*

• Contribution pricing^*

• Cost to buy (CTB)

• Cost to make (CTM)

• Cost of sales (COS)

• Creditor days (efficiency ratio analysis)

• Current assets (balance sheet)

• Current liabilities (balance sheet)

• Current ratio

• Debtor days (efficiency ratio analysis)

• Decision trees

• Defect rate

• Depreciation expense (unit of use depreciation)

• Direct costs

• Earliest start time (critical path analysis)

• Equity or total equity (balance sheet)

• Fixed costs

• Free float (critical path analysis)

• Gearing ratio (efficiency ratio analysis)

• Gross profit (profit and loss account)

• Gross profit margin (GPM)

• Indirect costs (overheads)

• Interquartile range (descriptive statistics)

• Labour intensity*

• Labour productivity rate

• Labour turnover

• Latest finish time (critical path analysis)

• Lead time (production planning)

• Line of best fit

• Loss (break-even analysis)

• Make or buy analysis

• Margin of safety

• Market share

• Market growth

• Mean (descriptive statistics)

• Median (descriptive statistics)

• Mode (descriptive statistics)

• Net assets (balance sheet)

• Net cash flow (cash flow forecasts)

• Net current assets (or working capital)

• Net present value (NPV)

• Non-current assets (balance sheet)

• Opening balance (cash flow forecasts)

• Operating leverage

• Operating profit (for operating leverage)

• Payback period (linear method)

• Pie charts (descriptive statistics)

• Price elasticity of demand (PED)^*

• Productivity rate

• Profit (balance sheet)

• Profit (break-even analysis)

• Profit (profit and loss account)

• Profit after interest and tax

• Profit before interest and tax

• Profit before tax

• Profit for period (income statement)

• Profit margin (mark-up)

• Profit margin (profitability and liquidity ratio analysis)

• Quartiles (descriptive statistics)

• Reorder level (production planning)

• Reorder quantity (production planning)

• Retained earnings

• Retained profit

• Return on capital employed (ROCE)

• Sales forecasting

• Sales revenue

• Standard deviation (descriptive statistics)

• Stock turnover ratio

• Straight line method of depreciation

• Target price (break-even analysis)

• Target profit (break-even analysis)

• Target profit output (break-even analysis)

• Total assets (balance sheet)

• Total contribution* (BMT)

• Total costs

• Total float (critical path analysis)

• Total contribution (break-even analysis)

• Total revenue (or Total sales revenue)

• Total liabilities (balance sheet)

• Units of production depreciation rate

• Variable costs

• Variances (budgets)

• Working capital (or net current assets)

1. Define the term publicly held company (line 1).  [2]

2. Define the term corporate social responsibility (CSR) (line 20).  [2]

3. Define the term internal growth (line 4).  [2]

4. Define the term external growth (line 4).  [2]

5. Define the term takeover (line 12).  [2]

6. Define the term multinational company (line 1).  [2]

7. Identify two stakeholders of Myt PLC.  [2]

8. In the context of Lotssa Coffee (LC), outline the meaning of "chain" of coffee shops (line 13).  [2]

9. Describe two types of businesses, other than coffee shops (line 13), that operate in the tertiary sector.  [4]

10. In the context of Myt PLC, distinguish between internal and external growth (line 4).  [4]

11. In the context of Myt PLC, distinguish between economies of scale and diseconomies of scale.  [4]

12. Explain two ways in which pressure groups can impact the operations of Myt PLC.  [4]

13. Describe two features of a publicly held company (line 1).  [4]

14. Explain two reasons why it is important for Myt PLC to improve its CSR (line 20).  [4]

15. Explain two potential challenges Myt may have faced while expanding through external growth (line 4).  [4]

16. Myt is a multinational company (line 1). Explain two benefits and one drawback to host countries of Myt.  [6]

1. Define the term board of directors (line 6).  [2]

2. State two roles of the board of directors (line 6).  [2]

3. Describe two roles of human resource management (HRM) for a large multinational company like Myt PLC.  [4]

4. Explain two potential barriers to effective communications for Myt PLC, with its operations across six continents. [4]

5. Explain two ways Myt PLC's organizational structure is likely to have changed as the company grew (line 4).  [4]

1. State two sources of external finance that Myt PLC could use to fund its external growth (line 4).  [2]

2. State one example of a fixed cost and one example of a direct cost for Myt PLC.  [2]

3. In the context of Myt PLC, distinguish between revenue expenditure and capital expenditure.  [4]

4. Explain two reasons why working capital is important to a large multinational company like Myt PLC.  [4]

5. Explain two suitable sources of finance for Myt PLC to modernize and make its factories green (line 16).  [4]

6. Explain two reasons why it might be important for Myt PLC to generate new revenue streams. [4]

• With reference to Myt PLC, discuss the importance of corporate social responsibility (CSR) (line 20).  [10]

• To what extent should environmental sustainability be a key strategic priority for Myt PLC as part of the company’s growth strategy?  [10]

• Examine the impact of the external environment on the operations of Myt PLC.  [10]

• Evaluate the impact of changes in the external environment on Myt PLC’s profitability.  [10]

• Recommend a suitable marketing mix for Myt Plc's announced plans (lines 15 - 20).  [10]

• Recommend how Myt PLC should fund the modernization of its factories (lines 16).  [10]

• Using the information in the case study, and your knowledge of business management, recommend whether Myt PLC should enter the healthy snacks market (line 17).  [10]

1. Use the Command Terms — Even If You're Guessing

The IB awards marks for structure and intent, not just correct content.

• Define: Copy the textbook-ish definition or paraphrase it (even if rough).

• Explain: Use “This means…” and give one example or outcome.

• Evaluate/Recommend: Write at least one pro, one con, and a mini-conclusion. Even if they're basic!

✅ Example:

“Ansoff Matrix helps businesses plan growth. One advantage is that it provides clear direction. A disadvantage is that it may oversimplify risk. Overall, it helps strategic thinking.”

2. Apply ANY Business Tool You Remember

Tools = marks. Even naming them shows knowledge.

If you’re not sure how to fully explain:

• Draw a SWOT grid and list 1 strength + 1 weakness

• Sketch a BCG Matrix with made-up products

• Write a Break-even formula and plug in numbers (even fake ones)

• Mention Ansoff: “This is market development because they’re expanding into new areas.”

3. Link to Stakeholders Every Time

Even vague references score.

• “This will affect customers because…”

• “Employees may resist this change…”

• “Shareholders may want higher returns…”

✏️ Just name a stakeholder + describe their interest = marks.

4. Write in Bullet Points or Short Paragraphs

Especially if time is short or thinking is slow.

Structure like this:

• Option 1: What is it?

• Good: Why it could work

• Bad: Why it might not

• Conclusion: Is it worth doing?

Even basic logic counts.

5. Use Business Vocab — Even If the Sentence Is Simple

• “This affects profits.”

• “They need to grow market share.”

• “Costs may be high, which affects breakeven.”

📚 Buzzwords = easy wins:

• Stakeholders

• Growth

• Cost/Revenue/Profit

• Motivation

• Strategy

• Expansion

6. Make Educated Guesses With a Justification

If you don’t know the exact tool, use logic.

• “I think they should expand because it could increase sales.”

• “This option is risky but may lead to long-term benefits.”

Your reasoning is what earns credit, even if the idea isn’t fully accurate.

7. NEVER Leave a Question Blank

Even 1 line can get you a mark.

If you don’t know anything, write:

• “This relates to a business tool like SWOT, but I’m not sure how.”

• “I don’t know the formula, but I think it has to do with profit vs. cost.”

☠️ Zero effort = zero marks. But attempting = 1–2 marks is possible.