Business objectives

Question 1

What are objectives?

Answer 1

specific targets of performance. They are an organisation’s performance targets – that is, the results and outcomes it wants to achieve in a particular time frame.

Question 2

What is the abbreviation for SMART goals

Answer 2

S- Specific
M- measurable
A- Attainable
R- Realistic
T- Timely

Question 3

What is the difference between mission statement and vision statement.

Answer 3

A mission statement is the goals set by the business that is meant to be done currently, and a vision statement is the goals set by the business that are meant to be done within the future.

Question 4

What is good corporate governance?

Answer 4

Corporate governance is often defined as a set of rules, practices and processes which guide the way a business is operated.

Question 5

Define ethics

Answer 5

Can be seen as a set of principles which guide business decisions.

Question 6

What is CSR

Answer 6

A term used to describe the responsibility of a company to society and the environment

Question 7

What are the responsibilities of the government to the consumers

Answer 7

-Ensure that they get value for their money
-Fair and truthful advertisements
-Ensure that products are safe and are of the highest standards
-Offer after-sales service

Question 8

What are the responsibilities of the government to the employees

Answer 8

-Foster participation of employees in
decision making
-Provide proper working conditions
-Fair treatment of all employees
-Maintain proper communication lines, especially where employees will be affected by a change or decision
-Provide opportunities for social gatherings, whether through family days, parties, etc.

Question 9

What are the responsibilities of the government to the shareholders

Answer 9

-Give fair returns on shareholders’
investment
-Keep them informed of the business’s
performance
-Provide a forum through which they can express views and give suggestions
-Protect their investment

Question 10

What are the responsibilities of the government to the community

Answer 10

-Ensure that waste is properly disposed of
-Reduce pollution, including that from air and noise
-Lessen displacement caused by the building of factories or roadways
-Give back to the community in which it
operates