M15-3-BUSMT-SP1-ENG-TZ0-XX

keycap-digit-one.png

Keycap Digit One

Paper 1

Question 1 - MaximumMarks - 15

This question involves defining key business terms, identifying specific benefits, and analyzing motivational theories in the context of a case study. Each part of the question requires a detailed understanding and application of business concepts.

Question 1 - A

This part of the question asks you to define a specific business term and identify certain benefits received by an employee.

Question 1 - A - i

Define the term mission statement (line 11).

Question 1 - A - i - Answer

A mission statement is a concise declaration of a business's core purpose and focus. It articulates the company's fundamental values, aims, and objectives in a way that is designed to inspire employees and attract the interest of external stakeholders. The mission statement serves as a guiding principle for decision-making and strategic planning within the organization.

Question 1 - A - i - Answer - EC

The candidate has provided a clear and comprehensive definition of a mission statement, highlighting its purpose and significance. The explanation effectively conveys the essence of a mission statement, making it easy to understand. The response demonstrates a good grasp of the concept and its relevance in a business context.

Question 1 - A - ii

Identify two fringe payments, other than health insurance, which Mrs. Carroccio may have received from the school.

Question 1 - A - ii - Answer

Fringe payments which Mrs. Carroccio may have received include:<ul><li>Meal packages or lunch vouchers, which are likely given her role in the cafeteria.</li><li>Free transportation or use of the school bus, which helps in commuting to work.</li></ul>

Question 1 - A - ii - Answer - EC

The candidate has correctly identified two plausible fringe payments that Mrs. Carroccio may have received. The examples provided are relevant and realistic, considering her job in the cafeteria. The response shows an understanding of the types of non-cash benefits that can be offered to employees.

Question 1 - B

Other than financial security, explain one advantage and one disadvantage of Mr. Carroccio operating as a sole trader (line 5).

Question 1 - B - Answer

Advantage: One advantage of Mr. Carroccio operating as a sole trader is that he has total ownership and control of his business. This means he is his own boss and does not need to consult with others before making decisions or share the profits. This autonomy allows him to run the business according to his vision and preferences.Disadvantage: One disadvantage is unlimited liability. As a sole trader, Mr. Carroccio's business is not considered a separate legal entity, so his personal possessions are at risk if the business cannot pay its debts. This means he bears all the financial risks and potential losses on his own.

Question 1 - B - Answer - EC

The candidate has effectively explained one advantage and one disadvantage of operating as a sole trader. The advantage of total ownership and control is well articulated, and the explanation of unlimited liability clearly highlights the potential risks involved. The response demonstrates a solid understanding of the pros and cons of sole proprietorship.

Question 1 - C

Analyse the relevance of Maslow's motivation theory to Alejandra.

Question 1 - C - Answer

Maslow's motivation theory is highly relevant to Alejandra as it provides a framework for understanding her needs and motivations. According to Maslow's hierarchy of needs, individuals are motivated by a series of hierarchical needs, starting from basic physiological needs to higher-order needs such as self-actualization.As Alejandra approached eighteen, she likely experienced higher-order needs such as self-esteem, recognition, and status. Her physiological and safety needs were met through her various sources of income, including CD album sales, concerts, magazine covers, and music videos. Her belonging needs may have been fulfilled through her popularity with fans.One of the future strategic options suggested by K&J could allow Alejandra to meet her self-actualization needs, which involve realizing her full potential and achieving personal growth. These options would also generate new streams of revenue for her, further enhancing her motivation and satisfaction.

Question 1 - C - Answer - EC

The candidate has provided a thorough analysis of the relevance of Maslow's motivation theory to Alejandra. The response effectively links Alejandra's needs to different levels of Maslow's hierarchy, demonstrating a clear understanding of the theory. The explanation is well-structured and contextualized, showing how Maslow's theory can be applied to understand Alejandra's motivations and potential future strategies.

Question 2 - MaximumMarks - 7

This question involves defining specific business terms and analyzing the effects of organizational changes and market research methods. Each part of the question requires a detailed understanding of business concepts and their practical applications.

Question 2 - A

In this part, you are asked to define two important business terms: quality control and workforce planning. These definitions should be clear and demonstrate a thorough understanding of each term.

Question 2 - A - i

Define the term quality control (line 115).

Question 2 - A - i - Answer

Quality control refers to the systems and processes that a business uses to ensure that its products or services meet a certain standard of quality. This can involve various methods such as sampling, inspection, and quality checks. The focus is typically on the final product or service rather than the production process itself.

Question 2 - A - i - Answer - EC

The candidate has provided a clear and concise definition of quality control, highlighting its purpose and methods. The explanation is accurate and demonstrates a good understanding of the concept. The use of examples such as sampling and inspection adds depth to the definition. This response would be awarded full marks for its clarity and completeness.

Question 2 - A - ii

Define the term workforce planning (line 122).

ib-standard-level.webp

Standard Level

Business Management SL

Mathematics AA SL

ib-math-aa-sl-notes-videos..gif

ib-higher-level.webp

Higher Level

Business Management HL

ib-business-management-hl.gif

ib-business-management-sl.gif

core.webp

Core

Theory of Knowledge

tok-notes.gif

ib-ab-initio.webp

Ab Initio

Spanish Ab Initio

ib-spanish-ab-initio.gif

Biology SL

ib-biology-notes-videos.gif

Physics HL

david-mckay.png

Chemistry HL

ib-chemistry-cicy-irna.png

Chemistry SL

Economics HL

ib-economics-notes-videos.gif

Economics SL

History HL

ib-history-notes-videos.gif

History SL

Geography SL

ib-geography.gif

Geography HL

Mathematics AI HL

ib-math-ai.gif

Mathematics AI SL

Biology HL

Psychology SL

ib-psychology-notes-videos.gif

Psychology HL

Design Technology SL

ib-design-technoogy-notes-videos.gif

Design Technology HL

Physics SL

Mathematics AA HL

math-aa-hl.gif

Environmental Systems & Societies SL

ib-environmental-systems-societie.gif

Sports, Exercise & Health Science HL

ib-sehs-notes-videos.gif

Sports, Exercise & Health Science SL

English B SL

ib-english-b-ntotes-videos.gif

English B HL

English A Language & Literature HL

ib-english-a-lal.gif

English Literature SL

ib-english-literature.png

English A Language & Literature SL

English Literature HL

Spanish B SL

esther-amoros.gif

Question 2 - A - ii - Answer

Question 2 - A - ii - Answer - EC

Question 2 - B

Question 2 - B - Answer

Question 2 - B - Answer - EC

Question 2 - C

Question 2 - C - Answer

Question 2 - C - Answer - EC

Question 3 - MaximumMarks - 15

Question 3 - A

Question 3 - A - Answer

Question 3 - A - Answer - EC

Question 3 - B

Question 3 - B - Answer

Question 3 - B - Answer - EC

Question 3 - C

Question 3 - C - Answer

Question 3 - C - Answer - EC

Question 4 - MaximumMarks - 20

Question 4 - A

Question 4 - A - Answer

Question 4 - A - Answer - EC

Question 4 - B

Question 4 - B - i

Question 4 - B - i - Answer

Question 4 - B - i - Answer - EC

Question 4 - B - ii

Question 4 - B - ii - Answer

Question 4 - B - ii - Answer - EC

Question 4 - B - iii

Question 4 - B - iii - Answer

Question 4 - B - iii - Answer - EC

Question 4 - C

Question 4 - C - Answer

Question 4 - C - Answer - EC

IB BUSINESS MANAGEMENT SL, Paper 1, May, 2015, TZ0, Solved Past Paper