Chapter 5 - Business Objectives

________ are people who have a direct interest in the performance & activities of a business.

A(n) ________ has social objectives as well as am aim to make a profit to reinvest back into the business.

________- workers dont want to look for new jobs frequently.

________: To make a profit to invest back into the social enterprise to expand the social work that it performs.

________ gives workers & managers a clear target to work towards.

________: to provide jobs & support for disadvantaged groups in society, such as the disabled or homeless.

A business objective is an aim or a target that a business collectively works towards

managers can try to achieve this not just by making profits but by putting plans in place that give the business a good chance of growth & higher profits in the future

to provide jobs & support for disadvantaged groups in society, such as the disabled or homeless

To protect the environment

To make a profit to invest back into the social enterprise to expand the social work that it performs

meet profit targets set by the govt

Provide a service to the public & meet quality targets set by the govt

Protect or create employment in certain areas → especially poorer regions with higher level or unemployment

workers dont want to look for new jobs frequently

law affects business activity

Helps to make a business successful (but doesn't guarantee success). This gives workers & managers motivation & clearer targets

Most important for new-start ups or when economy is moving into recession. New competitors also cause insecurity

the total income of a business (revenue) minus total costs

(Company sales / total market sakes) x 100

Businesses run by private individuals, but they have social (providing jobs for the disadvantaged) & environmental goals

A person or a group of people with a direct interest in the performance & activities of a business. They can be external & internal

The managers of a company often set the objective of increasing returns to shareholders. This is done to discourage shareholders from selling their shares & helps the managers to keep their jobs

the customers are satisfied the product / service provided

To provide jobs & support disadvantageous groups in society

To protect the environment

To make a profit to invest back into the social enterprise to expand the social work that it performs