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% Document Info
\author{fatimaaaa}
\pdfinfo{
  /Title (ib-business-management-unit-1-introduction-to-bm.pdf)
  /Creator (Cheatography)
  /Author (fatimaaaa)
  /Subject (IB Business Management Unit 1 - Introduction to BM Cheat Sheet)
}

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\noindent
\begin{multicols}{3}
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    {\parbox{\dimexpr\textwidth-2\fboxsep\relax}{\noindent
        \hspace*{-6pt}\includegraphics[width=5.8cm]{/web/www.cheatography.com/public/images/cheatography_logo.pdf}}
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\begin{tabulary}{11cm}{L}
    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{IB Business Management Unit 1 - Introduction to BM Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{fatimaaaa} via \textcolor{DarkBackground}{\uline{cheatography.com/186493/cs/38977/}}}
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\noindent
\begin{multicols}{3}
\begin{tabulary}{5.8cm}{LL}
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  \mymulticolumn{2}{p{5.377cm}}{\bf\textcolor{white}{Cheatographer}}  \\
  \vspace{-2pt}fatimaaaa \\
  \uline{cheatography.com/fatimaaaa} \\
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Published 28th May, 2023.\\
   Updated 28th May, 2023.\\
   Page {\thepage} of \pageref{LastPage}.
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  %\includegraphics[width=48px,height=48px]{dave.jpeg}
  Measure your website readability!\\
  www.readability-score.com
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\begin{document}
\raggedright
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% www.emerson.emory.edu/services/latex/latex_169.html
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\begin{multicols*}{2}

\begin{tabularx}{8.4cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{8.4cm}}{\bf\textcolor{white}{What is a business?}}  \tn
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{A decision-making organization established to produce goods and/or provide services.% Row Count 2 (+ 2)
} \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{8.4cm}}{\bf\textcolor{white}{Businesses exist;}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{To produce goods and services to satisfy the needs and wants of their customers.} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{To make profit.} \tn 
% Row Count 3 (+ 1)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{To survive.} \tn 
% Row Count 4 (+ 1)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{To increase market share.} \tn 
% Row Count 5 (+ 1)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{To be the market leader.} \tn 
% Row Count 6 (+ 1)
% Row 5
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{For socially responsibility.} \tn 
% Row Count 7 (+ 1)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{8.4cm}}{\bf\textcolor{white}{Business as a transformation process}}  \tn
\SetRowColor{LightBackground}
\mymulticolumn{1}{p{8.4cm}}{\vspace{1px}\centerline{\includegraphics[width=5.1cm]{/web/www.cheatography.com/public/uploads/fatimaaaa_1685267503_Figure-3-Input-Transformation-output-Model-Example.png}}} \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
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\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{8.4cm}}{\bf\textcolor{white}{Adding/Creating value}}  \tn
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{This occurs in the transformation process when outputs are produced that are worth more than the inputs brought in to provide them.% Row Count 3 (+ 3)
} \tn 
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\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{x{1.6 cm} x{6.4 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{8.4cm}}{\bf\textcolor{white}{Factors of Production}}  \tn
% Row 0
\SetRowColor{LightBackground}
Capital & Amount of money needed to run a business \{\{nl\}\}	Man-made goods like machines, buildings, vehicles, and equipment needed for business to operate \{\{nl\}\}Investment – increasing spending on capital \tn 
% Row Count 7 (+ 7)
% Row 1
\SetRowColor{white}
Land & Space where a business operates \{\{nl\}\}	Raw materials and natural resources that are used in making a product \tn 
% Row Count 11 (+ 4)
% Row 2
\SetRowColor{LightBackground}
Labour & Physical \& mental efforts of people to produce products/services \tn 
% Row Count 13 (+ 2)
% Row 3
\SetRowColor{white}
\seqsplit{Enterprise} & Management, organization, and planning of other three factors of production \{\{nl\}\} Actions of entrepreneur who shows initiative and takes risks to set up, invest, and run a business \tn 
% Row Count 19 (+ 6)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

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\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{8.4cm}}{\bf\textcolor{white}{Business functions \& their roles}}  \tn
% Row 0
\SetRowColor{LightBackground}
Human Resources & Manages the workforce and laborers of the company \{\{nl\}\}	Deals with recruitment, wages, communication, and motivation of employees \tn 
% Row Count 5 (+ 5)
% Row 1
\SetRowColor{white}
Finance and Accounts & In charge of managing the organization's money and assets \{\{nl\}\}	Ensures accurate recording and reporting of financial documentation (to comply with legal requirements) \tn 
% Row Count 12 (+ 7)
% Row 2
\SetRowColor{LightBackground}
Marketing & Ensure that a company's products sell \{\{nl\}\} Concerned with identifying and satisfying consumers' needs/wants \{\{nl\}\} In charge of promotions, advertisements, etc. \tn 
% Row Count 19 (+ 7)
% Row 3
\SetRowColor{white}
Operations & In charge of business functions and processes that produce the actual goods \{\{nl\}\} Concerned with research \& development, delivery, stock management, etc. \tn 
% Row Count 25 (+ 6)
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\mymulticolumn{2}{x{8.4cm}}{\bf\textcolor{white}{Economic Sectors}}  \tn
% Row 0
\SetRowColor{LightBackground}
Primary & Involves the harvesting of naturally available resources \{\{nl\}\} e.g. mining, agriculture, livestock, drilling, and logging \{\{nl\}\}Regulated and protected by the government \tn 
% Row Count 6 (+ 6)
% Row 1
\SetRowColor{white}
\seqsplit{Secondary} & Involves manufacturing of raw products to finished or component goods \{\{nl\}\} Finished goods – exported or sold to domestic consumers \{\{nl\}\} Component goods – sold to companies in the tertiary sector \tn 
% Row Count 13 (+ 7)
% Row 2
\SetRowColor{LightBackground}
\seqsplit{Tertiary} & Involved with service and retail \{\{nl\}\} Delivering final goods to customer \{\{nl\}\} Includes retail sales, transportation, entertainment, restaurants, media, healthcare, banking, etc. \tn 
% Row Count 19 (+ 6)
% Row 3
\SetRowColor{white}
\seqsplit{Quaternary} & Involved with knowledge and the movement of information. \{\{nl\}\}Includes government, education, libraries, scientific research, information technology, etc. \tn 
% Row Count 24 (+ 5)
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\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{x{4 cm} x{4 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{8.4cm}}{\bf\textcolor{white}{Impact of sectoral change}}  \tn
% Row 0
\SetRowColor{LightBackground}
Change in economic structure (primary to secondary, secondary to tertiary, etc.) & Industrialization \{\{nl\}\} ↳ When a country moves towards the manufacturing sector as its principal output and employment (primary to secondary) \{\{nl\}\} ↳Products become more refined and have more export potential \{\{nl\}\} ↳Raises the standard of education \{\{nl\}\} ↳Opens better job opportunities \{\{nl\}\} Developed nation \{\{nl\}\} ↳Exploits the tertiary sector as the national output of employment \{\{nl\}\} ↳ Further raises the standard of education \tn 
% Row Count 23 (+ 23)
% Row 1
\SetRowColor{white}
Examples of effects of shifting to the tertiary sector & For a labor intensive manufacturer of aluminum cans \{\{nl\}\} ↳ Quality of products improve \{\{nl\}\} ↳ More Distributors \{\{nl\}\} ↳ Less employees and higher wages for employees \{\{nl\}\} ↳ Can consider turning to robots and machines, as well as outsourcing \tn 
% Row Count 36 (+ 13)
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\begin{tabularx}{8.4cm}{x{2.32 cm} x{5.68 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{8.4cm}}{\bf\textcolor{white}{Entrepreneurship vs. Intrapreneurship}}  \tn
% Row 0
\SetRowColor{LightBackground}
\seqsplit{Entrepreneurship} & The process of starting a business, company, or organization \tn 
% Row Count 3 (+ 3)
% Row 1
\SetRowColor{white}
The \seqsplit{Entrepreneur} & The founder, and usually owner \{\{nl\}\} Big risk, big reward \{\{nl\}\} Organizes inputs of production into goods and services (outputs) \{\{nl\}\} Obtains money, buys the inputs needed and makes decisions. \{\{nl\}\} Takes risks and provides the vision for the business idea \{\{nl\}\} Assumes large financial risk \{\{nl\}\} Provides sufficient resources \tn 
% Row Count 15 (+ 12)
% Row 2
\SetRowColor{LightBackground}
\seqsplit{Intrapreneurship} & Similar to entrepreneurship but is done in an existing organization \tn 
% Row Count 18 (+ 3)
% Row 3
\SetRowColor{white}
The \seqsplit{Intrapreneur} & Is an employee of the organization \{\{nl\}\} Uses resources of company to undertake projects and therefore risks very little \{\{nl\}\} Rewarded in the form of a paycheck \{\{nl\}\} Does not act autonomously like an entrepreneur as he is dependent on other employees or the organization he works for \tn 
% Row Count 29 (+ 11)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{8.4cm}}{\bf\textcolor{white}{Reasons for starting up a business}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{New business idea} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{Passion to make change} \tn 
% Row Count 2 (+ 1)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{Market need} \tn 
% Row Count 3 (+ 1)
% Row 3
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{Earning a living} \tn 
% Row Count 4 (+ 1)
% Row 4
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{Greater financial reward} \tn 
% Row Count 5 (+ 1)
% Row 5
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{Control} \tn 
% Row Count 6 (+ 1)
% Row 6
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{Work-life balance} \tn 
% Row Count 7 (+ 1)
% Row 7
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{Autonomy/Own boss} \tn 
% Row Count 8 (+ 1)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{8.4cm}}{\bf\textcolor{white}{Common steps in starting up a business}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{Businesses often start up by looking for market opportunities (market gaps or niches)} \tn 
% Row Count 2 (+ 2)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{Niche markets are where small businesses can easily compete} \tn 
% Row Count 4 (+ 2)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{Factors to consider: What questions would businessmen ask about the factors? \{\{nl\}\} ↳ Business idea \{\{nl\}\} ↳ 4 Factors of Production (capital, land, labor, and enterprise) \{\{nl\}\} ↳ Four departments/functional areas} \tn 
% Row Count 9 (+ 5)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{x{1.36 cm} x{6.64 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{8.4cm}}{\bf\textcolor{white}{Possible problems faced by a start-up}}  \tn
% Row 0
\SetRowColor{LightBackground}
\seqsplit{Internal} & Lack of working capital \{\{nl\}\} Poor management skills \{\{nl\}\} Unskilled employees \tn 
% Row Count 3 (+ 3)
% Row 1
\SetRowColor{white}
\seqsplit{External} & Economic, environmental or political shocks \{\{nl\}\} Market too small / no market \{\{nl\}\} Strong competition \tn 
% Row Count 7 (+ 4)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{8.4cm}}{\bf\textcolor{white}{Business plan}}  \tn
% Row 0
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{Report detailing aims and objectives of a business} \tn 
% Row Count 1 (+ 1)
% Row 1
\SetRowColor{white}
\mymulticolumn{1}{x{8.4cm}}{Planning tool that serves as a blueprint to address the issues of a startup business} \tn 
% Row Count 3 (+ 2)
% Row 2
\SetRowColor{LightBackground}
\mymulticolumn{1}{x{8.4cm}}{Meant for investors/banks to help them decide on whether to invest/approve loans} \tn 
% Row Count 5 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}

\begin{tabularx}{8.4cm}{x{1.44 cm} x{6.56 cm} }
\SetRowColor{DarkBackground}
\mymulticolumn{2}{x{8.4cm}}{\bf\textcolor{white}{Elements of a business plan}}  \tn
% Row 0
\SetRowColor{LightBackground}
\seqsplit{Business} & Name of the business, type of the business, statement of aims and objectives, details of the owner \tn 
% Row Count 4 (+ 4)
% Row 1
\SetRowColor{white}
\seqsplit{Product} & Details of goods/services, operations and equipment needed, suppliers, price \tn 
% Row Count 7 (+ 3)
% Row 2
\SetRowColor{LightBackground}
Market & Who you're selling to, market profile, competition (strengths and weaknesses) \tn 
% Row Count 10 (+ 3)
% Row 3
\SetRowColor{white}
\seqsplit{Finance} & Money, start-up costs \tn 
% Row Count 11 (+ 1)
% Row 4
\SetRowColor{LightBackground}
\seqsplit{Personnel} & Employees and workforce, skills \tn 
% Row Count 13 (+ 2)
% Row 5
\SetRowColor{white}
\seqsplit{Marketing} & Marketing mix employed by business \tn 
% Row Count 15 (+ 2)
\hhline{>{\arrayrulecolor{DarkBackground}}--}
\end{tabularx}
\par\addvspace{1.3em}


% That's all folks
\end{multicols*}

\end{document}