IB Business Management: Strategy & Decision Making Revision

Strategy & Decision Making is a core part of IB Business Management. Revise the key concepts and common mistakes below, then lock them in with the free games.

Key concepts

RivalryIntensity of competition among existing firms

Threat of entryEase for new firms to enter

SubstitutesAlternative products meeting same need

Buyer powerCustomers' ability to push price down

Supplier powerSuppliers' ability to push price up

Barrier to entryPatent, brand, scale that blocks rivals

Decision nodeSquare — manager's choice

Chance nodeCircle — probabilistic outcome

Expected valueSum of probability × payoff

Organic growthInternal expansion of existing firm

MergerTwo firms combine on equal terms

AcquisitionOne firm buys another

Cost leadershipCompete on lowest unit cost

DifferentiationCompete on unique value

Learn Strategy & Decision Making step by step

Free interactive mini-lessons: short screens, worked examples and quick checks. Pick your exam board:

HLHL Extension: Business Strategy and Decision Making

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▶ Two Truths, One Lie ▶ Reveal Race ▶ Connections Grid ▶ Falling Words ▶ Word Web

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