These are explanations and solutions for IB past papers, not the official version. For official papers, you can go to IB Follet or access them through your school.
These are explanations and solutions for IB past papers, not the official version. For official papers, you can go to IB Follet or access them through your school.
These are explanations and solutions for IB past papers, not the official version. For official papers, you can go to IB Follet or access them through your school.
These are explanations and solutions for IB past papers, not the official version. For official papers, you can go to IB Follet or access them through your school.
01 Hours 15 Minutes
40 Marks
Calculator is allowed
IB BUSINESS MANAGEMENT SL, Paper 1, November, 2016, TZ0, Solved Past Paper
Master the 2016 IB November for Paper 1 Business Management SL with examiner tailored solutions and comments for TZ0
Question 1 [Explained]
This question involves understanding the process of setting up a new business with specific reference to Medimatters, a company in the medical industry. Additionally, it requires an explanation of suitable sources of finance to cover additional setup costs.
Question 1 [a] [Explanation]
This question asks you to describe two essential steps in setting up a new business, specifically in the context of Medimatters. These steps should be relevant to the medical industry and should help in establishing the business effectively.
Question 1 [b] [Explanation]
This question requires you to explain suitable sources of finance that Medimatters can use to cover an additional setup cost of $50,000. The explanation should consider the context of the business and the feasibility of different financing options.
Question 2 [Explained]
This question focuses on the importance of having a marketing plan for a new business, Medimatters, and the factors influencing a suitable promotional strategy for their IBAT app. A marketing plan is a comprehensive document that outlines a company's overall marketing efforts, including strategies, objectives, and actions to reach potential customers and achieve business goals. The IBAT app is a new product that combines an application and a lens, targeting both medical professionals and the general public.
Question 2 [a] [Explanation]
This question asks you to describe two benefits of having a marketing plan, specifically in the context of Medimatters. A marketing plan is crucial for any business, especially for a new company like Medimatters, as it provides a structured approach to introducing new products to the market and achieving business objectives.
Question 2 [b] [Explanation]
This question asks you to explain the factors influencing a suitable promotional strategy for the IBAT app. A promotional strategy involves various activities aimed at informing, persuading, and reminding potential customers about a product or service. For the IBAT app, several factors need to be considered to ensure the promotional strategy is effective and reaches the target audience.
Question 3 [Explained]
This question pertains to the business operations of Medimatters, a company involved in the production of lenses and an accompanying app. The question is divided into two parts: the first part asks about the features of batch production, and the second part asks about the differences in managing operations for the product (lenses) and the service (app) assuming the lenses are outsourced.
Question 3 [a] [Explanation]
This part of the question asks you to describe two features of batch production in the context of Medimatters. Batch production is a manufacturing process where products are produced in groups or batches rather than in a continuous stream. This method is particularly useful for Medimatters as it allows for the production of different types of lenses that may be required for various makes of phones.