Medimatters – IB Business Case Study Nov 2016

How to approach your study of this pre-seen case study

1. Start simple

> Go through the case study and underline all the business words you can see.
> Check this against our list (click here).
> Write out your best effort for a definition.
> Find the definition, and write it out.
By finding the definitions and using your textbook to write it out, you will embed the information better than if we did it for you.

2. Think exam

> The question paper will look like this:

Section A

> Definitions on two or three terms IN the case study.
> Features, explanations or key factors of two to three terms mentioned in the case study.
> Two longer questions that need application of a theory to the case study.

Examples:
> Define market segments (line 51). [2 marks]
> Define marketing plan (line 87). [2 marks]

Outline two features of a business plan [4 marks]
Explain the difference between copyrights and patents for Medimatters [6 marks]

Explain the advantages of using batch production for Medimatters [6 marks]
Using the relevant leadership theory, explain what qualities Ahmed might need to lead Medimatters. [6 marks]

You will only need to answer two out of the three 10 mark questions, which will be either a two mark questions and a six marker, or a one four mark question and six marker.

Section B

You will be given additional information, most likely some financial figures, sales forecasts or production targets.

Apart from definitions, you will need to use the information to:
> Give the pros and cons of a tactic or strategy
> Recommend a strategy, based on the numbers.

To do this, you must use the numbers to illustrate your answer.

The last question will require EVALUATION, where you will need to come to a conclusion. The structure of your answer will be:
One/two points for an argument, one/two points against followed by which makes the most difference.

Likely areas:
Which sources of finance to use – e.g. share capital, bank loan or venture capital
Which type of production to use – batch v flow
Which market to go for – Brazil or bigger
When to launch product – more market research?

A typical question may be
Using the information in the tables above and information from the case study, discuss whether which sources of finance are available to Medimatters, and recommend which would be the most appropriate to use. [10 marks]

Section C NOTE THIS IS ONLY FOR HIGHER LEVEL

Two options will be outlined with some further information.

You will need to go for option 1 or option 2.

This is a 20 mark question and requires a longer, more involved answer than the last question of section B.

It will be same likely areas as above, but with more detail.

3. Preparing your content theory and understanding

Business management is about know the theory behind any decision or outcome.
You’ve done the definitions, now think about the theories.

Here’s a list that might be useful to understand for Medimatters

Unit 1: Business organization and environment

> Starting up a business: reasons, problems, business plan
> The best structure for a business, e.g. partnership v limited company
> SWOT analysis
> Ansoffs matrix
> Stakeholder conflicts
> STEEPLE analysis
> Future external growth methods: e.g. franchising and joint ventures
> HL: Fishbone, decision tree, force field analysis, Gantt chart

Unit 2: Human resource management

> Outsourcing
> Organizational structure for business
> Key functions of management
> Leadership styles
> Organizational culture – how cultural clashes affect business as they grow

Unit 3: Finance and accounts

> Role of finance
> External sources of finance, plus advantages and disadvantages
> Breakeven analysis – possible for Section B
> Ratios – ESSENTIAL!
> Cash flow – possible for Section B is looking at start up
> HL: Investment appraisal
> HL: Budgets

Unit 4: Marketing

> Ethical and cultural effects on marketing
> Marketing plan: elements and reasons for
> USPs, perception maps
> HL: Sales forecasting: Section B possible
> Market research: methods and limitations
> Promotion: strategies
> Place: distribution channels
> HL: Marketing mix: Physical evidence, Processes, People
> HL: International marketing: Opportunities and threats
> E-commerce: B2B and costs and benefits

Unit 5: Operations management

> Production methods: batch v flow
> HL: Lean production and quality management: TQM for production
> Location: where to manufacture
> HL: Research and development: types of innovation and pace of change