Share OCR Business Level 2
Save to Folder
What is a business aim?
A long‑term goal of the business.
What is a business objective?
A specific, measurable step a business takes to achieve an aim.
Give one example of a business aim
To make a profit. (Others: grow, survive, expand, increase market share)
What does SMART stand for when setting objectives?
Specific, Measurable, Achievable, Realistic, Time‑bound.
What is a stakeholder?
Anyone with an interest in or affected by the business.
Name one internal stakeholder.
Employees. (Others: managers, owners)
Name one external stakeholder.
Customers. (Others: suppliers, the government, the local community)
What do shareholders usually want from a business?
Profit and a good return on their investment.
Why might employees care about business objectives?
Because they want job security, fair pay, and good working conditions.
Why might a business aim change over time?
Because of growth, competition, economic changes, or new opportunities.
