Objectives

Question 1

to make a profit

Answer 1

=total revenue less total expenses
-reduce expenses
-increase revenue
-increase efficiency
-increase productivity
allows:
expand, return on dividends, upgrade

Question 2

To increase market share

Answer 2

=businesses percentage of total sales within an industry
increase:
improved marketing strategies
increae quality standards
fast prodcut development
improve delivery
Allows:
increase sales does’nt make business more profitable

Question 3

fullfill market need/social needs

Answer 3

market need= objective for a business that provides a good or service that isnt otherwise avaliable to those who need G/S
>subsidised bus service

Social need= production/selling of G/S which generate an income, used to benefit well=being of community
> cafe made to provide jobs to disadvantage (STREAT)

Question 4

To meet shareholder expectations

Answer 4

business act corporately socially responsible
CSRS mean:
increased costs
Reduced dividends in short term
Provide roi
-reduce operating cost
downsize
increase NP
-Expand to new markets
Ethical behaviour/ CSR
- waste reduction
-safety/respect for employees

Question 5

Shareholders

Answer 5

investors, buy portion of a business aiming to make more then initial investment, receiving dividends meaning small portion of decision making

Question 6

To improve efficiency

Answer 6

how well resources are used to make G/S
efficency
- lowering costs
-increasing profits
-less time to make product

Question 7

To improve effectiveness

Answer 7

achievement of business objectivess
-improve quality
-meet customer requirements
-achieve CSR goals
-reduce waster
assume-costs increase in short term, but benefits in long term