Business objectives and departments

Define a market
Where buyers and sellers meet to exchange goods and services
1 of 12
Define marketing
identifying, anticipating and satisfying customer needs
2 of 12
Give 6 business objectives
Survival, Market share, Profit, Growth, Breakeven, Brand Identification
3 of 12
Define business objectives
What a business achieves a whole
4 of 12
What does the acronym SMART stand for?
Specific, measurable, achievable, realistic, timely
5 of 12
State 6 departments of a business
Marketing, HR, Financial, Purchasing, Sales, Production
6 of 12
Give 3 objectives the marketing department may have
Increase brand identification, awareness, increased sales
7 of 12
Give 2 objectives of the HR department
Increase employment, decrease labour turnover
8 of 12
Give 2 objectives of the financial department
Profit, set and stick to budgets
9 of 12
Give 3 objectives the purchasing department may have
decrease prices of raw materials, increase loyalty of suppliers, good quality materials
10 of 12
Give 2 objectives of the sales department
To retain market share and meet targets
11 of 12
Give 2 objectives of the production department
Decrease waste, work at capacity utilisation
12 of 12

Other cards in this set

Card 2

Front

Define marketing

Back

identifying, anticipating and satisfying customer needs

Card 3

Front

Give 6 business objectives

Back

Preview of the front of card 3

Card 4

Front

Define business objectives

Back

Preview of the front of card 4

Card 5

Front

What does the acronym SMART stand for?

Back

Preview of the front of card 5
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