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Revision Notes for Chapter 14
1. Social audit the collection of information and reporting on the impact the business has
on the society and the environment
Ways of measuring success
Profit: Many private firms aim to make a profit. A rise in profit should signal
Size: Many businesses aim to grow, so the increase on size should signal success.
Consumer satisfaction: Many business look on how consumers' needs and wants are
being satisfied. If it has more loyal customers, it means that the business is doing well.
Targets: Many owners set up targets for the business when the business was first
launched. An achievement of those target should signal success.