Week 2 - Quiz

What is the primary aim of most businesses?

• To lose money

• To break even

• To make a profit

• To reduce market share

What is a common objective for a non-profit organization?

• Maximizing shareholder dividends

• Increasing sales

• Providing a public service

• Expanding internationally

Which of the following is a financial aim for a business?

• Enhancing employee welfare

• Increasing market share

• Maximizing profit

• Reducing carbon footprint

What is an objective?

• A general goal of a business

• A specific target to achieve

• A plan for the future

• All of the answers

Which of the following best defines a business aim?

• A short-term target

• A long-term goal

• A day-to-day task

• A medium-term project

A business objective to grow market share by 5% in two years is an example of what kind of objective?

• Financial

• Operational

• Growth

• Ethical

Why is it important for businesses to set specific objectives?

• To keep shareholders happy

• To measure progress effectively

• To confuse competitors

• To avoid paying taxes

A company's objective to reduce energy usage by 15% within the next year is an example of:

• Financial aim

• Ethical objective

• Market-driven aim

• Quality control

Which of the following is a common business aim for a start-up?

• Dominating a global market

• Surviving the first year

• Expanding into new territories

• Implementing an international workforce

In a competitive market, why might a business aim to increase its customer loyalty?

• To reduce costs

• To stabilize sales and profit margins

• To gain tax benefits

• To improve supplier relations