Criteria important for part B

Question 1

Competitiveness

Answer 1

Used to make judgments on two businesses where one outperforms the other. examples customers, performance, financial stability etc.

Question 2

Effectiveness

Answer 2

To what degree has the business achieved goals and/or objectives and to what extent has it solved its problems.

Question 3

Effciency

Answer 3

To what degree has the business optimised its resources and its application towards goals/objectives

Question 4

Stakeholder satisfaction

Answer 4

To what degree has the business considered and managed its stakeholders.

Question 5

4 criteria’s of stakeholder satisfactions

Answer 5

• key understanding of their motives.
• job security.
• Suppliers want contract commitments.
• Management wants the business’s goals