1.2 Business Objectives Flashcards
1
Q
objectives
A
goals or targets set up by a business
2
Q
executives
A
managers in an organisation who help make important decisions
3
Q
diversify
A
if a business diversifies, it increases the range of goods or services it provides
4
Q
dividends
A
share of the profit paid to shareholders
5
Q
SMART - objectives
A
specific, measurable, achievable, realistic, time-specific
6
Q
automation
A
use of computers and machines instead of people to do a job
7
Q
economies of scale
A
financial advantages of producing something in very large quantities - falling average cost
8
Q
revenue
A
money from the sale of goods and services
