How can a business objective of improving customer satisfaction be measured?

By increasing the number of products produced

By analyzing customer feedback and repeat purchase rates

By reducing the cost of production

Why might a business set the objective of market leadership?

To attract and retain top talent

To increase its market share and influence over pricing

How can employee objectives be aligned with business objectives?

By implementing flexible working hours

By offering performance-based incentives

By reducing the number of staff

What is a common objective for public sector organizations?

Providing essential services to the public

Expanding into international markets

Which objective might be prioritized by a business facing intense competition?

Expanding into unrelated industries

How can the objective of corporate social responsibility benefit a business?

By improving the company's public image and relationships with stakeholders

Why might shareholders prioritize profit objectives over other objectives?

To ensure long-term sustainability of the business

To receive higher dividends and increase the value of their investment

To reduce the company's environmental footprint

What is a potential conflict between business objectives and stakeholder objectives?

Increasing market share vs. improving employee work-life balance

Reducing environmental impact vs. community development

Maximizing profit vs. providing high-quality products

Enhancing customer service vs. cost reduction

Business and Stakeholder Objectives Free MCQ Practice Test with Solutions

	Business Studies for GCSE/IGCSE 70 videos\|94 docs\|25 tests

	Business Studies for GCSE/IGCSE 70 videos\|94 docs\|25 tests

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