Business aims and objectives
AQA GCSE Business Studies revision on Business aims and objectives. Aligned to the AQA GCSE Business 8132 specification. This bank has 10 practice questions on this topic.
Sample questions (3 of 10)
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Question 1
SMART objectives must be Specific, Measurable, Achievable, ___, Time-bound.
- A) Realistic
- B) Reasonable
- C) Relevant
- D) Reactive
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Answer: Relevant
Some textbooks use Realistic for the R — either is accepted by AQA. 'Relevant' is the more modern phrasing — the objective must support the wider business aim. Example: 'Increase social media followers by 20% in 6 months' is SMART; 'Get more popular' is not.
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Question 2
Which of these is a typical FINANCIAL business aim?
- A) Growing market share
- B) Becoming the most ethical retailer
- C) Maximising profit
- D) Improving customer service
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Answer: Maximising profit
Financial aims include: profit maximisation, revenue growth, cost minimisation, cash-flow stability, survival. Non-financial aims: brand reputation, market share, customer service, employee wellbeing, environmental impact. Most businesses balance both — pure profit-maximisation rarely lasts long without good people and customers.
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Question 3
'Survival' is most likely to be the main objective for a business...
- A) In its first year
- B) In a steady-state phase
- C) At its peak profitability
- D) When listing on the stock exchange
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Answer: In its first year
~60% of UK startups fail in their first 3 years. Year-1 focus is cash, customer acquisition, learning what works. Once survival is secured, objectives shift to growth, then profitability, then maybe market dominance. Big established firms in declining markets (think Blockbuster, Kodak) can also drop back to 'survival' mode.
Want to test yourself on the remaining cards for this topic?
7 more questions on Business aims and objectives — plus mistakes tracking and spaced repetition across the whole Business Studies spec.