Study

OCR Business Level 2

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  • 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.
  • What does SMART stand for when setting objectives?
    Specific, Measurable, Achievable, Realistic, Time‑bound.
  • Name one external stakeholder.
    Customers. (Others: suppliers, the government, the local community)
  • Name one internal stakeholder.
    Employees. (Others: managers, owners)
  • 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 stakeholder?
    Anyone with an interest in or affected by the business.
  • What is a business aim?
    A long‑term goal of the business.
  • Why might a business aim change over time?
    Because of growth, competition, economic changes, or new opportunities.
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