business objectives

Question 1

what is a business objective?

Answer 1

objectives are desired goals that a business intends to achieve. it provides vision for the business and makes staff more focused. on the success of the business.

Question 2

make a profit

Answer 2

by generating more revenue than expenses, a business earns a profit which can then be distributed to owners and shareholders. therefore, business owners are likely to attempt to increase revenue or decrease expenses to boost their profits.

Question 3

increase market share

Answer 3

a business wants to increase its market share to become more competitive within an industry. increased sales usually means a business. can also increase their profits.

Question 4

meet shareholder expectations

Answer 4

businesses that consistently earn a profit then have the funds and are more likely to pay regular dividends to its shareholders. among the different types of businesses, only private limited and public listed companies have to meet shareholder expectations.

Question 5

fulfilling a market need

Answer 5

a business fulfils a market need by providing products and services which meet the desires of a group of customers with similar needs.

Question 6

fulfilling a social need

Answer 6

a business fulfils a social need by improving the community and environment through its business activities. a community can face issues such as poverty, homelessness and drug or alcohol abuse.