Business Objectives Quiz

Select all business objectives.

• Increase sales

• Expand market share

• Improve customer satisfaction

• All of the above.

Compare the objectives of the private sector with the objectives of the third sector. Which of the following best describes the difference?

• The private sector focuses on profit maximization, whereas the third sector focuses on social goals.

• The private sector aims for social welfare, whereas the third sector aims for profit.

• Both sectors have the same objectives.

• The third sector focuses on individual wealth, whereas the private sector focuses on community development.

Which of these correctly displays the PESTEC acronym

• Political, Economic, Social, Technological, Environmental, Cultural

• Political, Environmental, Social, Technological, Economic, Competitive

• Policies, Economic, Social, Technological, Environmental, Cultural

• Political, Economic, Social, Technological, Ethical, Cultural

Select the answers which correctly match a PESTEC factor with their possible impact.

• Environmental - Flooding to a businesses property

• Technological - Advancements in technology

• Social - Changes on social media

• Economic - Inflation rates

• Political - Changes in government policy/laws

Which of the following is an example of an internal factor?

• Employees

• Economical

• Political

• Financial

High staff turnover is an example of a possible impact of not training staff properly.

• TRUE

• FALSE

Which factors relate to changes in weather and increased demand for recyclable packaging?

• Economic

• Political

• Environmental

• Technological

Identify one Internal factor and state how this could impact a business

Which factor refers to changes in tastes and trends/spending habits?

• Social

• Economic

• Environmental

• Competitive

Identify 2 internal factors from below.

• MANAGERS

• SUPPLIERS

• CUSTOMERS

• FINANCE