Business Objectives 2

SMART stands for

Are the factors that determine business objectives different?

• Yes

• No

Are business objectives static over time?

• Yes

• No

Can business objectives vary between different industries?

• Yes

• No

Profit maximisation is where the difference between total revenue and total cost is

Profit satisficing aims to achieve ____________ profit to keep the owners satisfied.

Identify two reasons why communicating business objectives to the workforce is important ?