IBDP Business Management Business Organization And Environment Chapter 7 Notes
organizational planning tools
STUDY NOTES FOR BUSINESS MANAGEMENT – BUSINESS ORGANIZATION AND ENVIRONMENT CHAPTER 7 – ORGANIZATIONAL PLANNING TOOLS
These notes have specially been curated by expert teachers to simplify and enlighten concepts given in IB Business Management HL. The notes are comprehensive in nature and are sufficient to study the chapter in depth, One need not look for other resources beyond the notes provided on our website which can be accessed for free. The notes for Organizational Objectives IBDP HL are available on our official website and can be downloaded for free.
Business management IBDP is a part of group 3 Individuals and the Society of the IB curriculum. The IBDP Business Management course has been devised for imparting knowledge and understanding of different theories of Business Management and application of various tools and methods. It enables the students to analyze and evaluate business activities at all levels- local, national, or international, It Also helps in developing holistic understanding of the business environment today which is complex and fast changing.
The subject covers important characteristics of business organization and business functions of human resource management, finance and accounting, marketing, and operations management. The purpose of the course is to help students develop skills that enable them to think critically and make the right decisions after carefully evaluating and analyzing the issue at hand. It also aims at developing the understanding of the importance of innovation and exploring business from different cultural perspectives.
The chapter on Organizational Planning Tools begins with an explanation of organizational planning which is to identify attainable objectives of the organization and formulate the strategies to achieve them. There are various tools for organizational planning- fishbone diagrams, decision trees, force field analysis, Gantt charts and SWOT analysis. The chapter explains all these tools in detail. Fishbone diagrams were devised by Professor Kaoru Ishikawa and are also known as cause-and-effect diagrams as they help in identifying and representing the causes and effects in a situation graphically.
Next, we have the merits and demerits of the fishbone diagrams. Decision trees are quantitative tools that help decide between alternatives available when taking a decision explained with the help of a diagram followed by the merits and demerits of decision trees. Gantt charts are management tools that are used by the managers of projects who schedule various tasks and see the responsibilities and activities performed by the staff and the time taken to complete them. Therefore, it is a visual representation of the tasks and their durations. It was devised by Henry L. Gantt in 1910.