(Business objectives and stakeholder objectives) unit 5

Question 1

Business objectives

Answer 1

aims or targets that a business works towards

Question 2

profit

Answer 2

total income of a business

Question 3

market share

Answer 3

percentage of total market sales held by one brand/business

Question 4

social enterprise

Answer 4

has social objectives as well as an aim to make a profit and reinvest

Question 5

stakeholder

Answer 5

a person or group with direct interest in the performance and activity of a business

Question 6

benefits of setting business objectives

Answer 6

> workers and managers have a clear target
decisions can be taken
clear and measurable objectives will bring the business together
business managers can compare how the business has performed

Question 7

objectives businesses want to achieve

Answer 7

> business survival
profit
returns to shareholders
growth of the business
market share
service to the community

Question 8

market share%

Answer 8

market share % = company sales divided by total market sales x 100