7 aims of the private sector Flashcards
(7 cards)
1
Q
What is the definition of Profit Maximisation?
A
To make as much profit as possible.
2
Q
What is the definition of Achieving Quality?
A
To provide the highest standard of product/service.
3
Q
What is the definition of Customer Satisfaction?
A
To ensure your customers are happy with their purchase.
4
Q
What is the definition of Increase Market Share?
A
To gain more customers relative to your competitors.
5
Q
What is the definition of Social responsibility
A
To act in a responsible way towards the environment, your community and wider society.
6
Q
What is the definition of Survival in business terms?
A
To continue to exist from one year to the next.
7
Q
What is the definition of Innovation?
A
To create new and unique ideas.
