Objectives of a business

What is the main objective of most start up businesses?

• Employee welfare focus

• Survival

• Market share increase

• Profit maximisation

How does profit benefit shareholders?

• By increasing employee welfare

• By raising market share

• By receiving dividends and increasing share price

• By promoting customer satisfaction

What does market share refer to?

• The number of employees in a company

• The total revenue generated by a company

• The percentage of total sales in a particular market that a company holds

• The level of customer satisfaction achieved by a company

What does cost efficiency refer to?

• The ability to provide a healthy and safe working environment for employees

• The focus on generating the maximum revenue possible

• The commitment to addressing social or environmental issues

• The ability to produce and deliver products at the lowest possible cost

How can a business promote employee welfare?

• By delivering high-quality products and providing excellent customer service

• By lowering prices to achieve revenue maximisation

• By using sustainable materials and minimising waste

• By offering competitive wages and promoting a healthy work-life balance

What is the focus of sales maximisation?

• Reducing the level of profit in the short term

• Generating the maximum revenue possible by selling products/services

• Providing a healthy and safe working environment for employees

• Increasing market share by producing better quality products

What is the aim of achieving customer satisfaction?

• Promoting fair labour practices and contributing to social causes

• Reducing the environmental impact by using sustainable materials

• Increasing market share by selling better quality products

• Delivering high-quality products and providing excellent customer service

What do social objectives refer to?

• The aim to increase market share by producing better quality products

• The commitment to addressing social or environmental issues

• The focus on generating the maximum revenue possible

• The commitment to providing a healthy and safe working environment for employees

Why is cost efficiency crucial for companies in highly competitive markets?

• To compete with low prices

• To achieve customer satisfaction

• To promote employee welfare

• To increase market share

What is the objective of reducing environmental impact and promoting fair labour practices?

• Market share increase

• Social objectives

• Cost efficiency

• Employee welfare focus