Back to quiz

6. Why do businesses exist?

  • To provide goods and services for their customers
  • To set a price on goods
  • To have fun
  • To classify costs

7. Goals of each department of a business (marketing, finance, operations, HR). The objectives set by each department should help the organisation to achieve it's corporate objectives, and ultimately its mission.

  • Mission
  • Functional Objectives
  • Mission Statement
  • Business Objectives
  • Corporate Objectives

8. Another reason why businesses exist

  • To achieve the objectives a business sets itself - profit, growth, survival, cash flow, social and ethical objectives
  • To change thier marketing mix
  • To have fun
  • To increase market share

9. Which are the 5 common business objectives?

  • Survival, stock rotation, break-even, profit, social and ethical
  • Survival, break-even, cash flow, reputation, profit
  • Growth, survival, cash flow, profit, social and ethical
  • Profit, cash flow, reputation, survival, stock rotation

10. Goals that must be achieved in order to realise the mission/aims of an individual team. They are medium to long-term.

  • Corporate Objectives
  • Business Objectives
  • Functional Objectives
  • Mission Statement
  • Mission

11. Qualitative statement of an organisation's aims that uses language intended to motivate employees and convince customers, suppliers and those outside the firm of it's sincerity and commitment.

  • Mission
  • Mission Statement
  • Functional Objectives
  • Business Objectives
  • Corporate Objectives

12. Diversification, market standing meeting the needs of other stakeholders could also be examples of:

  • Business Objectives
  • Revenue
  • Mission Statements
  • Functional objectives