1g) The importance of goal setting Flashcards
1
Q
What is a business goal?
A
Business goals are what a business wants to achieve within a specific timeframe.
2
Q
What are business strategies?
A
A business strategies are a series of actions that a business will implement to achieve its goals.
3
Q
What do the letters in SMART goals stand for?
A
Specific Measurable Attainable Relevant Time bound
4
Q
What are financial goals?
A
Financial goals are targets for improving the overall financial performance of a business.
5
Q
What are social goals?
A
Social goals are targets set by the welfare of the community environment or the employees of a business.
6
Q
What is a profit margin?
A
Profit margin is the proportion of revenue left over from the sale of a good or service after a business has deducted its expenses.
