BUSINESS OBJECTIVE AND STAKEHOLDER

What is the main purpose of setting SMART objectives?

• To reduce productivity

• To direct and control business activity

• To confuse employees

• To increase costs

Which of the following is NOT part of the hierarchy of objectives?

• Mission Statement

• Vision Statement

• Values Statement

• Profit Statement

What is the main benefit of having corporate aims for an organization?

• To discourage innovation

• To limit growth opportunities

• To provide guidance to the whole organization

• To confuse employees

What is the purpose of a mission statement in a business?

• To motivate employees and stimulate interest by outside groups

• To confuse stakeholders

• To hide the business's core aims

• To increase costs

What are the characteristics of effective corporate objectives?

• Specific, Measurable, Attainable, Relevant, Timely

• Vague and ambiguous

• Random and arbitrary

• Unattainable and unrealistic

What is the concept of Corporate Social Responsibility (CSR)?

• Ignoring society's interests in business activities

• Considering the interests of society in business decisions beyond legal obligations

• Maximizing profits at all costs

• Avoiding all social responsibilities

Which stakeholder is interested in receiving dividends from after-tax profits?

• Customers

• Workforce

• Shareholders

• Directors

What is the purpose of a social audit in a business?

• To hide the impact on society

• To identify social responsibility met by the business

• To increase pollution levels

• To reduce customer satisfaction

How can businesses resolve conflicts of objectives among stakeholders?

• Reduce job security for employees

• Increase environmental disadvantages

• Establish closer cooperation with suppliers

• Ignore all stakeholders

What is the main benefit of acting ethically in business decisions?

• Losing consumer loyalty

• Reducing costs of fines

• Attracting unethical customers

• Avoiding court cases