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