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Business > Management Skills + Business Goals > Flashcards

Management Skills + Business Goals Flashcards

1
Q

What is a business goal?

A

What a business expects to accomplish over a set period

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2
Q

Examples of business goals

A
  1. Profits
  2. Market share
  3. Growth
  4. Share price
  5. Social
  6. Environmental
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3
Q

Profit maximisation

A

Profit maximisation occurs when there is a maximum difference between the total revenue and total costs

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4
Q

The three main social goals

A
  1. Community service
  2. Provision of employment
  3. Social justice
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5
Q

Staff involvement

A

Involving employees in the decision-making process and giving them the necessary skills and rewards

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Business (4 decks)

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