Why business objectives change (Edexcel GCSE Business): Quizzes
📚Quizzes
Practise the questions
11 questions from this quiz
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Practise the questions
11 questions from this quiz
What are business objectives?
What are business objectives?
Specific goals to guide operations
Why is the ability to adapt objectives essential for businesses?
Why is the ability to adapt objectives essential for businesses?
For business survival
What are the two main categories of factors that shape business objectives?
What are the two main categories of factors that shape business objectives?
Internal and external factors
Which statement best describes internal factors?
Which statement best describes internal factors?
Can be managed and controlled by business
What typically happens to objectives when a business performs well?
What typically happens to objectives when a business performs well?
Sets more ambitious growth targets
What objectives does poor performance typically lead to?
What objectives does poor performance typically lead to?
Conservative, recovery-focused objectives
How does new leadership typically affect business objectives?
How does new leadership typically affect business objectives?
Brings fresh perspectives & priorities
Competition is described as what type of influence on objectives?
Competition is described as what type of influence on objectives?
A major driver of changing objectives
How does new technology impact business objectives?
How does new technology impact business objectives?
Creates opportunities and challenges
What happens to sales targets during economic downturns?
What happens to sales targets during economic downturns?
Businesses lower sales and profit targets
How do the various factors affecting objectives relate to each other?
How do the various factors affecting objectives relate to each other?
They interconnect and influence each other