Business Goals & Performance

Question 1

Objectives

Answer 1

The specific goals a business sets to measure success and guide decisions.

Question 2

profit

Answer 2

The difference between revenue and expenses. If a business makes a profit, it may be considered successful

Question 3

Market share

Answer 3

Proportion or percentage of the market (and total sales) controlled by the business

Question 4

Efficiency

Answer 4

Using resources effectively to maximize output while minimizing waste

Making more products with less inputs

Question 5

Effectiveness

Answer 5

Achieving business objectives successfully and meeting goals.

The degree to which goals are achieved