Understanding Business Aims and Objectives

How do market conditions affect a business's aims and objectives?

• They remain unchanged regardless of market conditions.

• They are only influenced by internal factors.

• They change based on competition and market growth or decline.

• They only change when the market is growing.

What role does technology play in shaping business objectives?

• Businesses should avoid changing objectives due to technology.

• Technology only affects businesses in the tech industry.

• Businesses must adapt their objectives to keep up with technological changes.

• Technology has no impact on business objectives.

How should a business adjust its objectives if it is underperforming?

• Maintain the same objectives.

• Ignore performance and focus on external factors.

• Set more ambitious targets.

• Focus on survival and small improvements.

Why must businesses change their objectives in response to legislation?

• Businesses must comply with new legal requirements, impacting their strategies.

• Businesses can choose whether to follow new laws.

• Legislation rarely affects business objectives.

• Legislation only affects small businesses.

What internal factor led Sainsbury's to change its business objectives?

• A decrease in market competition.

• A decision to focus on convenience stores.

• A technological breakthrough.

• A new government policy.