QR Challenge: IB Business and Management G12 Treasure Hunt Challenge!

Created using the ClassTools QR Treasure Hunt Generator

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Teacher Notes

A. Prior to the lesson:

1. Arrange students into groups. Each group needs at least ONE person who has a mobile device.

2. If their phone camera doesn't automatically detect and decode QR codes, ask students to

Download a QR reader (e.g. I-Nigma | NeoReader | Kaywa ) onto their mobile devices
Bring these devices into the lesson.

3. Print out the QR codes.

4. Cut them out and place them around your class / school.

B. The lesson:

1. Give each group a clipboard and a piece of paper so they can write down the decoded questions and their answers to them.

2. Explain to the students that the codes are hidden around the school. Each team will get ONE point for each question they correctly decode and copy down onto their sheet, and a further TWO points if they can then provide the correct answer and write this down underneath the question.

3. Away they go! The winner is the first team to return with the most correct answers in the time available. This could be within a lesson, or during a lunchbreak, or even over several days!

C. TIPS / OTHER IDEAS

4. A detailed case study in how to set up a successful QR Scavenger Hunt using this tool can be found here.

Questions / Answers (teacher reference)

Question	Answer
1. 1. Give two examples of secondary sector businesses, explaining why they belong in this sector.	Two manufacturing/construction companies with explanation.
2. 2. Compare and contrast private limited companies with public limited companies.	Private cannot sell shares on a stock exchange; probably more limited access to finance; Original owners probably still own majority of shares; More difficult to sell shares; Lower share price risk; in both shareholders have limited liability and separate legal identity.
3. 3. Distinguish between a mission statement and a vision statement and provide a hypothetical example of each.	Mission statement summarises what an organisation does and wants to achieve e.g. to provide a supportive, caring ion wants to be and effective learning environment. Vision statement outlines where an organisation wants to be in the future e.g. To be Beijing's largest provider of IB education.
4. 4. Explain the term "SMART" objectives and write one of your own relating to your studies this year.	Specific, measurable, achievable, realistic and relevant, time-specific. e.g. To complete at least 10 hours of CAS each week.
5. 5. Explain the term "Corporate Social Responsibility" and provide at least one real-life example.	CSR - where a company complies with (or sometimes beyond that) the spirit of ethics and social norms.
6. 6. Explain the term "Economies of scale" and give three examples.	Reduction in unit costs due to an increase in output e.g. purchasing economies, financial economies, managerial economies, technical economies, marketing economies.
7. 7. Distinguish between vertical and horizontal integration and identify at least two other ways firms can achieve growth.	Vertical integration - integrating with a business in the same industry but in a different production stage. Horizontal - integrating with a business in the same industry and in the same production stage. Others - merger, franchise, conglomerate, joint venture.
8. 8. Draw the Ansoff matrix.	Market penetration; Market development; Product development; Diversification.
9. 9. Analyse the advantages and disadvantages of multinational companies operating in China.	Adv: More products/wider consumer choice; Tax revenues; Employment opportunities; Increased GDP; Disadv; Local firms may suffer; Pollution; Exploitation; Depletion f natural resources; Profits returned to home country.
10. 10. Compare and contrast an autocratic leader with a democratic leader.	Autocratic - one-way communication, top down, no shared decision-making.
11. 11. Explain Herzberg's two-factor theory of motvation.	Outline of motivators and hygiene factors.
12. 12. Explain and give two examples of "fringe benefits."	Non-cash benefits at work e.g. company car, free meals and accommodation.
13. 13. Outline Porter's five forces analysis.	Threat of entry; Power of buyers; Power of suppliers; Threat of substitutes; Competition.
14. 14. What is market segmentation?	Dividing a market into different segments according to age, gender etc and identifying target groups for goods or services produced.
15. 15. Draw and provide an explanation of the product life cycle.	development, launch, growth, maturity, decline.
16. 16. Explain and give two examples of below the line promotion.	Incentives to achieve increases in sales volume such as loyalty schemes and BOGOF.
17. 17. Draw the Boston matrix and explain each component.	Cash cow - ; long-established product in mature market that is profitable; low growth/high market share. Star - growing market/high share. Problem child - low share/high market growth. Dog - low growth/low share.
18. 18. Name and explain two types of branding.	Family, Individual; Corporate; Own-label; Manufacturers.