Further Aspects (1)

Question 1

Primary objective of profit seeking organisaitons?

Answer 1

Maximise the wealth of owners (shareholders) of the business

Question 2

Secondary objective of profit seeking organisaitons? (survival)

Answer 2

Ensure survival

Question 3

Secondary objective of profit seeking organisaitons? (quality)

Answer 3

Provide a quality product/service

Question 4

Secondary objective of profit seeking organisaitons? (corporate)

Answer 4

Be a good corporate citizen

Question 5

Secondary objective of profit seeking organisaitons? (benefit)

Answer 5

Create wealth/benefits for management/employees

Question 6

Secondary objective of profit seeking organisaitons? (competitve)

Answer 6

Secure competitive advantage and grow market share

Question 7

What is the objective of profit or wealth maximisation?

Answer 7

It is modified to meet the needs of different interest groups (stakeholqers)

Question 8

Issue with not for profit organisaitons (NFPOs)?

Answer 8

It is extremely difficult to define their objectives and they tend to have multiple objectives. It is impossible to say which is the overriding objective

Question 9

Primary objective for public sector organisations?

Answer 9

Provision of a quality product/service within a value for money framework

Question 10

Secondary objective for public sector organisations? (corporate)

Answer 10

Be a good corporate citizen

Question 11

Secondary objective for public sector organisations? (ethical)

Answer 11

Adopt an ethical social stance in decision-making

Question 12

Secondary objective for public sector organisations? (wealth)

Answer 12

Create wealth/benefit for management/employees

Question 13

Secondary objective for public sector organisations? (profits)

Answer 13

Earn sufficient profits to provide for future capital investment and perhaps provide a surplus for the exchequer

Question 14

Primary objective of other NFPOs?

Answer 14

Provision of a social or community service for wellbeing of society

Question 15

Secondary objective of other NFPOs? (corporate)

Answer 15

Be a good corporate citizen

Question 16

Secondary objective of other NFPOs? (decision-making)

Answer 16

Adopt an ethical social stance in decision-making

Question 17

Secondary objective of other NFPOs? (wealth)

Answer 17

Increase wealth/benefit for management/employees

Question 18

What is difficult to judge in NFPOs?

Answer 18

Whether non-quantifiable objectives have been met

Question 19

General objectives for NFPOs (maximisation)

Answer 19

Surplus, revenue, usage, budget, production satisfaction, client satisfaction maximisation

Question 20

General objectives for NFPOs (targeting)

Answer 20

Usage targeting

Question 21

General objectives for NFPOs (recovery)

Answer 21

Full/partial cost recovery