WJEC Retail Business Objectives

What are the main business objectives for a retail business?

• • Business

  • Financial

  • Growth

  • Retail specific

• • Business

  • Financial

  • Social

  • Retail specific

• • Increased profit

  • Financial

  • Social

  • Retail specific

• • Business

  • Volunteering

  • Social

  • Retail specific

What is an objective?

• A short term goal

• A long term goal

Select the 2 correct financial objectives?

• Increasing profit

• Reducing carbon footprint

• Survival

• Expansion

Select the 2 correct social objectives?

• Developing Fairtrade

• Reducing carbon footprint

• Survival

• Expansion

Select the 2 correct business objectives?

• Developing Fairtrade

• Recruiting more workers

• Survival

• Expansion

Select the 2 correct retail specific objectives?

• Training staff

• Recruiting more workers

• Survival

• Changing suppliers

Many retail businesses fail within 2 years of being set up . (True or False)

• False

• True

To survive a business has to at least .......................

• Make a profit

• Break even

• Make a loss

• Survive

Nearly all businesses started as small businesses - usually as .................... or ............

• sole trader

• partnership

• PLC or LID

• sole traders or partnerships

What objective is concerned with "Behaving in a way which is correct and moral"

• Social responsibilty

• Enterprise/Innovation

• Ethical procedure