1.4 Business Aims And Objectives

Question 1

What are the three main objectives of most businesses?

Answer 1

1) Growth
2) survival
3) profit

Question 2

Two reasons why a business should set objectives?

Answer 2

1) provide a clear goal for the business, set direction
2) to set motivation for the entire project (motivating employees)

Question 3

What will a new businesses objectives be?

Answer 3

Survival

Question 4

What will a business that has ten shops across the UK objectives be?

Answer 4

Growth- expand internationally

Question 5

What will a multinational business with stores around the world objectives be?

Answer 5

Increase market share- to become a market leader