Business Objectives Flashcards
1
Q
What are the main aims in a business?
A
Increase market share
Survival
Profit maximisation
Growth objective
2
Q
What are the three key factors that influence a firm’s objectives?
A
The size of a business
The level of competition
Type of businesses
3
Q
Which objectives do non profit business usually focus more on compared to for- profit businesses?
A
Social and ethical objectives
4
Q
What factors may impact how a business evolve?
A
- change in technology
- change in the economy
- stage in business life
- New legislation
- change in society
5
Q
What is the legal obligation of most limited companies?
A
To maximise shareholder value
