Business Aims and Objectives Quiz

What are business aims?

• Marketing strategies of a business

• Employee salaries in a business

• Daily tasks of a business

• Strategic goals of a business

What are objectives in a business context?

• Customer feedback of a business

• Financial statements of a business

• Specific steps to achieve aims

• Long-term goals of a business

Why does a business set aims and objectives?

• To decrease productivity

• To motivate workers to achieve

• To discourage growth

• To confuse workers

What is the formula for calculating profit in a business?

• Total revenue + Total costs

• Total revenue - Total costs

• Total revenue x Total costs

• Total revenue ÷ Total costs

What is an example of a non-financial objective in a business?

• Improving sales

• Maximizing profit

• Personal satisfaction

• Increasing market share

What does the term 'market share' refer to in a business?

• The total revenue of a business

• The percentage of sales held by a business in a market

• The number of employees in a business

• The location of a business

What is the objective of 'survival' in a new business?

• To reach break-even point

• To decrease sales

• To make huge profits

• To close down quickly

What is the non-financial objective 'challenge' in a business?

• Increasing market share

• Reducing costs

• Maximizing profit

• Creating objectives that require hard work and focus to achieve

What is the purpose of setting specific targets in a business?

• To confuse workers

• To measure business performance

• To hinder decision making

• To decrease motivation

Why do aims and objectives differ between businesses?

• Because of government regulations

• Because business owners differ

• Because of customer demands

• Because all businesses are the same