Business Aims and Objectives Quiz

What is a primary aim of a private business?

• Service provision

• Raising funds

• Profit

• Meeting government standards

Which of the following is an aim for a not-for-profit organisation?

• Market leadership

• Diversification

• Raising funds

• Competitiveness

What is a key objective for a public sector organisation?

• Growth

• Cost control

• Surplus generation

• Efficiency

Which aim is essential for a business to ensure its basic functioning?

• Market leadership

• Survival

• Growth

• Diversification

What is a short-term business tactic?

• Long-term strategic plan

• Quarterly sales promotion

• Five-year operational plan

• Annual product launch

What does the term "market leadership" refer to?

• Being the most expensive in the market

• Having the largest market share

• Being the most efficient

• Having the highest profits

Which business aim focuses on maintaining a competitive edge?

• Growth

• Efficiency

• Competitiveness

• Survival

What is a key driver for change in the market context?

• Revenue generation

• Meeting consumer needs

• Workforce motivation

Which of the following is a challenge in the human resource context?

• Product diversification

• Revenue growth

• Skills shortages

• Market expansion

What is an essential feature of globalisation?

• National market isolation

• Localised production

• Growing interdependence of economies

• Limited information spread