Revision/Exam Tips: Business & Management

Revision/Exam Tips:
IB Business & Management

When revising for any exam, it is important to be prepared. Here are some tips on how to revise and prepare for your IB Business & Management exams.

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Whether it’s mocks or final IB exams coming up, revision can be a very stressful time. If you’re studying Business & Management, you will face an extensive syllabus full of terminology, case-studies and even some maths.The B&M exams can be tricky, but don’t worry; we have some tips for you to ace your B&M exams, whether you are in SL or HL.

Schedule your revision time:

You should do so for all your subjects. If you allocate a number of hours per day, you will be more likely to do the hardest part of revising, which is actually sitting down to study. Plan by when you should finish revising a topic and starting the next one, but don’t forget to schedule breaks and free time too. With goals and deadlines to meet, your revision will be more productive.

Know your keywords:

Like most IB subjects, B&M has a lot of terminology and definitions you should know. A common problem, especially in finance questions, is that students can’t answer a question because they don’t understand what the question is asking them to find out or define. You don’t need to memorise the exact definition, but make sure you study and understand every concept and technicality.

Know your exams:

SL and HL exams are slightly different, so you should be aware of what your exam will look like and how many questions you need to answer. Both SL and HL have to complete 2 papers.

Paper 1 is based on a case study which will be given to you in advance. Make sure you read the case study, highlight all the important parts and analyse it (e.g. Who are the stakeholders? What are the business objectives? etc.). Do not try to memorise answers to possible questions – it’s tempting, but if the exam asks you for something you haven’t prepared for, you will not do well. Instead, make sure you know the case study’s issues so you can apply it when answering the questions.

Meanwhile, Paper 2’s infamous aspect is Section C, which requires you to write an essay based on a real-life company and two of the following six aspects: change, culture, ethics, globalisation, innovation and strategy. You’ll have to be knowledgeable of a company, but don’t prioritise memorising random figures – they look great and will improve your answer, but they won’t count for much if you can’t apply them to the question. Instead, study your company in relation to the six elements and use relevant information and facts.

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Past Papers & Timing:

Doing past paper questions is as helpful as studying the whole syllabus. Time yourself when completing a full paper so you can see how much time you need per section. Also, look at the marks given per question; the smaller the number, the less time you should spend doing them and the less detailed they have to be. As always, don’t forget to bring a watch to the exam to make sure you finish on time!

However, don’t forget that business is all around us. You don’t have to just study it, you can live it too – why not check out the links below for some interesting business articles?

Further Reading

Business Insider: www.businessinsider.com
The Wall Street Journal: https://www.wsj.com
Financial Times: https://www.ft.com