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 importance the of innovation and exploring business from different cultural perspectives.

The chapter on Change and Management of Change describes change as continuous modifications in the strategies, plans, policies of the organization which needs to be adapted to. Management of Change involves the organizing, directing, planning, controlling process due to the changes that occur. The causes of change can be external as well as internal.

Some of the internal causes would include structural changes in the organization, relocation from one part of the country to the other, change in the methods used for production to cut expenses or increase efficiency and a change in the management leading to different business strategies. Further, external causes responsible for change would be change in technology, change in laws, increase in competition or changing societal norms and customs. The chapter also talks about various reasons that could cause resistance to change in an organization. We also discuss the driving forces that support change and restraining forces that act against the change. However, change is the only permanent thing, and it is important to bring about changes to continue developing.