Chapter 5 - Business Objectives and Stakeholder Objectives Flashcards
what is meant by objective?
a statement of a specific target to be achieved (SMART)
what is meant by market share?
the revenue of a business expressed as a percentage of total market revenue
what is corporate social responsibility (CSR)?
a business taking responsibility for the impact their activities might have on society and the envirnoment
what is a pressure group?
a group of like-minded people that puts pressure on businesses and governments to change their policies to reach a predetermined objective
what is a social enterprise?
a business with social objectives that reinvest most of its profits back into the business or into benefiting society at large
what is a stakeholder?
an individual or group which has an interest in a business because they are affected by its activities and decisions
