1.2 unit business studying Business objectives

Question 1

What are Aims?

Answer 1

Aims are overall business goals

Question 2

What are objectives?

Answer 2

objectives should be smart Specific, Measurable, Achievable, Realistic, Timed. Objectives are clear steps that need to be followed to achieve aims.

Question 3

What are the two types of financial objectives?

Answer 3

Financial objectives these are objectives that are related to money. Non financial objectives which are not related to money.

Question 4

What are some financial objectives provide an example.

Answer 4

● Survival
● Profit
● Sales
● Increase market share
● Financial security

Question 5

What are some non financial objectives provide some examples.

Answer 5

Some of the main non-financial objectives of businesses are:
● Social objectives
● Personal satisfaction
● Challenge
● Independence and control

Question 6

Why do some business objectives change? Provide some reasons

Answer 6

Some of the main examples of why businesses change their objectives
overtime are:
● Market conditions
● Technology
● Performance
● Legislation
● Internal reasons

Question 7

Which of the following is a non-financial business objective?

Answer 7

a. Increase market share
b. Independence and control
c. Profit maximisation
d. Survival

Question 8

Which of the following is a financial business objective?

Answer 8

a. Improve customer service
b. Independence and control
c. Sales growth
d. Improve social responsibility

Question 9

Which of the following might cause business objectives to change
overtime?

Answer 9

a. Technological developments
b. A rise in the price of shares
c. Following the introduction of a new accounting system
d. A change in the weather patterns