1B – Business Objectives Flashcards
1
Q
To Make a Profit
A
Profit occurs when a business creates more revenue than expenses.
2
Q
To Increase Market Share
A
is a business’s percentage of total sales within an industry.
3
Q
To Meet Shareholder Expectations
A
Shareholders are the owners of private limited companies and public listed companies.
4
Q
To Fulfil a Market Need
A
is when a business fills a gap in the market
5
Q
To Fulfil a Social Need
A
is improving society and the environment through business activities.
6
Q
To Improve Efficiency
A
is producing something without wasting any resources
7
Q
To Improve Effectiveness
A
is the extent to which a business achieves its stated objectives.
