IGCSE Business 1.1 Objectives

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

• Personal satisfaction
• Independence
• Profit
• Challenge

Answer explanation

Profit is a key financial objective.

Which of these is a non-financial business objective?

• Sales growth
• Survival
• Customer satisfaction
• Profit

Answer explanation

Customer satisfaction is a non-financial aim.

Why might a business change its objectives?

• Due to market conditions
• To avoid profit
• To reduce staff
• Because of growth

Answer explanation

Objectives often change with market shifts.

A new entrepreneur wants to 'be their own boss'. What is this an example of?

• Profit maximisation
• Financial security
• Personal satisfaction
• Sales increase

Answer explanation

This is a non-financial aim.

Which aim is most likely for a start-up business?

• Profit maximisation
• Market dominance
• Survival
• Takeover

Answer explanation

New businesses aim to survive first.

Which of the following would be an objective for a social enterprise?

• High dividends
• Global expansion
• Social objectives
• Low staff pay

Answer explanation

Social enterprises aim to help society.

Why might a business shift its aim from survival to profit?

• Due to rising costs
• Business expansion
• Market saturation
• Staff turnover

Answer explanation

Profit follows once survival is secure.

Which of these is a personal aim for a business owner?

• Increase revenue
• Independence
• Grow market share
• Boost production

Answer explanation

Independence is a common personal aim.

What would be a suitable objective for a declining business?

• Market share increase
• Profit maximisation
• Sales growth
• Survival

Answer explanation

Survival becomes priority in decline.

Which stakeholder is most interested in financial security of a business?

• Customers
• Suppliers
• Shareholders
• Competitors

Answer explanation

Shareholders want financial returns.