Business Studies- Business Objectives

Question 1

Employees need something to work towards. Objectives help to …….. ……

Answer 1

motivate people

Question 2

Without objectives owners might not have the motivation needed to keep the business going. Owners might lose grip and allow their business to ‘drift’. This might result in business …..

Answer 2

failure

Question 3

Objectives help to decide where to take a business and ……..

Answer 3

what steps are necessary to get there

Question 4

It is easier to assess the performance of a business if objectives are set. If objectives are achieved it could be argued that the business has ….. …..

Answer 4

performed well.

Question 5

Private sector objectives-

Answer 5

Survival
Profit
Growth and wealth creation
Increase market share
Image, reputation and social responsibility

Question 6

SMART objectives

Answer 6

Specific
Measurable
Achievable
Realistic
Time specific

Question 7

Public sector objectives

Answer 7

Increasing special needs provision in schools
Increasing response time by the emergency services
Reducing specific crime rates
Reducing waste sent to landfill
Increasing the number of students centring higher education