*aims/objectives of the private sector Flashcards
1
Q
what does profit maximisation mean?
A
to make as much profit as possible
2
Q
what does achieving quality mean?
A
to provide the highest quality product/service
3
Q
what does survival mean?
A
to continue to exist from one year to the next
4
Q
what does customer satisfaction mean?
A
to ensure your customers are happy with their purchase
5
Q
what does increase market share mean?
A
to gain more customers relative to your competitors
6
Q
what does social responsibility mean?
A
to act in a responsible way towards the environment, your community and wider society
7
Q
what does innovation mean?
A
to create new and unique ideas
