Business Objectives Quiz

What does the term 'market conditions' refer to?

• The size of the market

• The number of employees in a business

• The location of the business

• The age of the business

What might a business focus on if it is in a growing market?

• Growth

• Survival

• Cost-cutting

• Reducing competition

Which of the following is NOT a common technological development?

• Software developments

• Employee training programs

• Mobile technology developments

• Website developments

What can technological developments prompt a business to do?

• Limit product offerings

• Reduce the number of employees

• Develop new aims and objectives

• Increase employee salaries

What is an example of a technological change in the car industry?

• Focus on petrol cars

• Focus on electric cars

• Focus on diesel cars

• Focus on manual transmission

What might a business do if it has poor financial performance?

• Expand into new markets

• Reduce marketing efforts

• Change its aims and objectives to improve sales

• Increase prices

Which of the following is an example of legislation affecting businesses?

• Market research reports

• Employee satisfaction surveys

• Company branding guidelines

• Health and Safety at Work Act

What happens if a new law is introduced that affects minimum wage?

• Businesses may ignore it

• Businesses will increase their profits

• Businesses may change their aims and objectives

• Businesses will reduce their workforce

What internal reason might lead a business to change its aims?

• Changing customer preferences

• Increasing competition

• Entering a new market

• Economic downturns

What is a potential aim for a business entering a new market?

• To increase market share

• To focus on existing customers

• To decrease production costs

• To reduce product quality