Entrepreneur Aims and objectives

What is a business objective?

• A statement of what the company has achieved

• A statement of what the company is trying to achieve

• A statement of what the company is currently achieving

What is the first aim of a business?

• To survive

• To make a profit

• To grow

Who normally decides on business objectives?

• Employees

• Customers

• Owners

What does an objective mainly help staff to focus on?

• Shared aims

• Suppliers

• Customers

Who are stakeholders?

• Any group interested in the activities of the business

• Any group interested in the activities of government

• Any group interested in the activities of shareholders

Which of the following best describes a financial objective?

• It is not easily measured

• It is easily measured

• It is personal to the owner

What is an example of stakeholder consideration?

• When owners keep all the profits for themselves.

• When some profit is sacrificed to pay staff an annual bonus.

• When owners decide to increase profits.

In the long run, what is it that all private sector firms must aim to do?

• Make a difference

• Make products

• Make a profit

Which is the best example of a SMART objective?

• To make a 5% profit

• To make a 5% profit soon

• To make a 5% profit in the next year

Increasing market share is an example of:

• An objective

• Revenue

• A business plan