Which of the following best defines the term 'stakeholder'?
Anyone with shares in a company
Anyone with an interest in an organisation
Anyone who owns a business
Anyone who buys a product from the organization
Which stakeholder is most interested in profit?
Staff
Customers
Managers
Owners
Which one of the following is an internal stakeholder
A creditor
A key supplier
An employee
The government
What objectives do different groups of stakeholders have?
No objectives
Different objectives
Similar objectives
Identical objectives
The laying-off of staff is NOT in the best benefit of:
Lenders
Employees
Staff demand a 5% pay increase. Which stakeholder is most likely to be affected?
Suppliers
As business objectives are set further down along the hierarchy they become increasingly:
Detailed in nature
Strategic in nature
Financial in nature
Short-term in nature
Which of this objectives would be consistent with a corporate objective to reduce costs?
Increase marketing budget by 10%
Increase average selling price by 15%
Increase labor productivity by 25%
Increase unit costs by 10%
A key purpose of setting corporate objectives is to:
Makes it easier to calculate bonuses for employees
Improve operational efficiency
Provide detailed targets for departments & individuals
Provide focus for all business activities
A corporate objective of survival is most likely to be for the following company:
A well-known Multi-national organization
A long established profitable family business
A start-up company
A public organization
The 2 main advantages of successfully achieving a corporate objective to cut-costs are:
Lower cash & higher profits
Lower costs & more cash
Higher profits & higher expenses
Lower costs & more customers
What is a business objective?
A statement of what the company has achieved
A statement of what the company is trying to achieve
A statement of what the company is currently achieving
A statement of what the company must legally achieve
Who normally decides on business objectives for a company in the private sector?
What is an example of stakeholder consideration?
When owners keep all the profits for themselves.
When some profit is sacrificed to pay staff an annual bonus.
When owners decide to increase profits.
When when managers extend the working day by 1 more hour
Which is the best example of a SMART objective?
To make a 5% profit
To attract 10% more customers sometime next year
To respond to customer inquiries 10% quicker by the end of the current month
To partner-up with a distributor, retailer, a marketing agency, and a competitor by the end of this month
