business objectives

Question 1

to make a profit

Answer 1

Profit= the surplus remaining after total costs are deducted from the total revenue of the business, and basis on which tax is calculated and dividends are paid.

Question 2

increase market share

Answer 2

the percentage of that total industries sales that the particular business receives.

Question 3

fulfil market need

Answer 3

identifying what your target market requires and wants allows you to meet their needs and build yourself a large consumer market.

Question 4

fulfil social need

Answer 4

benefiting the community through the actions of business processes.

Question 5

meet shareholder expectations

Answer 5

increase the capital gain on shares, acquire dividends and allowing them to have voting rights.

Question 6

stakeholder

Answer 6

a group or individual that have a vested interest in the operations of the business. e.g. employees, consumers, owners, suppliers, competitors, government.

Question 7

corporate social responsibility

Answer 7

the continuing commitment by a business to contribute to economic development, whilst improving the quality of life in the workforce and families as well as community and society.

• using fair trade ingredients
• flexible work
• waste management
• using renewable energy
• ethical marketing
• donating to charities