1.5 Business Objectives

Which of the following is not a business objective?

• Corporate social responsibility

• Market share

• Growth

• Realistic

An Individual or group which has interest in business because they are affected by its activities and decisions.

• Shareholders

• Travellers

• Stakeholders

• Students

Accessible, affordable, and open to all are:

• Private business objectives

• Public limited objectives

• Franchise

• Public sector objectives

 Objectives of public sector organizations are least likely to include 

• To survive 
• To provide a service to the community 
• To maximise profitability 
• To break even as soon as possible 

Objectives do not

• Help to assess the performance of a business 
• Provide a focus for the workforce 
• Suggest how goals should be achieved 
• Inform strategic planning 

Advantages of setting ethical objectives do not include 

• Avoiding bad publicity 
• A possible unique selling point for the firm 
• The impact on staff morale 
• An obligation to provide shareholder dividends 

What is the first and most important objective of a Private business organisation?

• Profit Maximisation
• Growth
• Survival
• Social Responsibility

What objective would an organisation in the voluntary sector have?

• Growth
• Profit Maximisation
• Serving the public interest
• Increasing market share

A sole trader just starting would have which objective?

• Growth
• Increasing Market Share
• Social Responsibility
• Survival

A business's objectives will depend on:

• time of year
• type of business
• sector of industry