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Framework for activity - Business Aims, Objectives and mission statements

Framework for activity - Business Aims, Objectives and mission statements

Question 1 of 11

1

Which of these Business Aims is most likely to be for a business currently in its first year?

Select one or more of the following:

  • Survive

  • Expand

  • Make a Profit

Explanation

Question 2 of 11

1

SMART Objectives:

What does the S stand for?

Select one or more of the following:

  • Specific

  • Similar

  • Systematic

Explanation

Question 3 of 11

1

SMART Objectives:

What does the M stand for?

Select one or more of the following:

  • Measurable

  • Mathematical

  • Marked

Explanation

Question 4 of 11

1

SMART Objectives:

What does the A stand for?

Select one or more of the following:

  • Achievable

  • Attainable

  • Accessible

Explanation

Question 5 of 11

1

SMART Objectives:

What does the R stand for?

Select one or more of the following:

  • Realistic

  • Rational

  • Reasonable

Explanation

Question 6 of 11

1

SMART Objectives:

What does the T stand for?

Select one or more of the following:

  • Time-Specific

  • Timed

  • Term-Specific

Explanation

Question 7 of 11

1

Growth is a business Objective, and the Aim could be £10 million sales in the UK

Select one of the following:

  • True
  • False

Explanation

Question 8 of 11

1

Why have a business aim?

Select one or more of the following:

  • They can be broken down to help specific functional areas understand what is required of them

  • It can help Shareholders decide whether they want to invest

  • It allows the CEO to tell his workforce what he alone wants them to do

Explanation

Question 9 of 11

1

Being Ethically and Socially responsible is an aim for all Businesses

Select one of the following:

  • True
  • False

Explanation

Question 10 of 11

1

Not all Companies Have a mission statement

Select one of the following:

  • True
  • False

Explanation

Question 11 of 11

1

Which of these are possible Business Aims

Select one or more of the following:

  • Customer Satisfaction

  • Being Ethically responsible

  • Achieve sales of £1.5 million

  • Sales Growth

  • Expansion

  • Expand to 7 different outlets

  • Cut down unethical labor by 15%

  • Make a profit

Explanation

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