IB BUSINESS MANAGEMENT HL, Paper 1, November, 2017, TZ0, Solved Past Paper

This question asks you to describe two advantages that MSS, a charity, might have. These advantages could be related to financial benefits, reputation, or operational efficiencies.

This question asks you to explain how the school could overcome high labor turnover. High labor turnover can be detrimental to an organization, leading to increased recruitment and training costs, as well as a loss of institutional knowledge.

This question asks you to describe two features of the school's marketing mix. The marketing mix is a set of actions or tactics that a company uses to promote its brand or product in the market. It typically includes four elements: product, price, place, and promotion. In the context of a school, these elements can be adapted to fit the educational environment.

This question asks you to explain the purpose of the mission and vision statements with reference to MSS. A mission statement is a concise explanation of the organization's reason for existence, while a vision statement outlines the organization's long-term goals and aspirations.

This part of the question asks you to describe one capital expenditure and one revenue expenditure for MSS. Capital expenditures are long-term investments in assets, while revenue expenditures are short-term expenses necessary for day-to-day operations.

This part of the question asks you to explain a suitable promotional mix that MSS might use to attract new students. A promotional mix involves a combination of different marketing methods to achieve the desired outcome.