Chapter 5

Question 1

Define the term business objectives

Answer 1

The aims and targets that a business works towards.

Question 2

Define the term profit

Answer 2

The total income of a business less total costs.

Question 3

Define the term market share

Answer 3

The proportion of total market sales achieved by one business.

Question 4

Define the term social enterprise

Answer 4

A business that have social objectives as well as an aim to make a profit.

Question 5

Define the term stakeholder

Answer 5

Any person or group with direct interest in the performance and activities of a business.