Ch.5- Business Objectives and stakeholder objectives

Question 1

Objective

Answer 1

A statement of a specific target to be achieved. It should be SMART.

Question 2

Market share

Answer 2

The revenue of a business expressed as a percentage of total market revenue

Question 3

Corporate Social Responsibility (CSR)

Answer 3

Business taking responsibility for the impact their activities might have on society and the environment

Question 4

Pressure group

Answer 4

A group of like-minded people that puts pressure on businesses and government to change their policies to reach a predetermined objective

Question 5

Social enterprise

Answer 5

A business with social objectives that reinvests most of its profits back into the business or into benefiting society at large.

Question 6

Stakeholder

Answer 6

An individual or group which has an interest in a business because they are affected by its activities and decisions.