Chapter 5 - Business Objectives and Stakeholder Objectives

Question 1

what is meant by objective?

Answer 1

a statement of a specific target to be achieved (SMART)

Question 2

what is meant by market share?

Answer 2

the revenue of a business expressed as a percentage of total market revenue

Question 3

what is corporate social responsibility (CSR)?

Answer 3

a business taking responsibility for the impact their activities might have on society and the envirnoment

Question 4

what is a pressure group?

Answer 4

a group of like-minded people that puts pressure on businesses and governments to change their policies to reach a predetermined objective

Question 5

what is a social enterprise?

Answer 5

a business with social objectives that reinvest most of its profits back into the business or into benefiting society at large

Question 6

what is a stakeholder?

Answer 6

an individual or group which has an interest in a business because they are affected by its activities and decisions