Business aims & objectives
AQA GCSE Business Studies revision on Business aims & 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
Which of the following is a common non-financial objective for a business?
- A) Maximising profit
- B) Increasing market share
- C) Personal satisfaction
- D) Reducing costs
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Answer: Personal satisfaction
While profit and market share are key financial objectives, many small business owners start companies to achieve personal goals like independence or the satisfaction of building something. These non-financial objectives are often just as important as revenue in the early stages of a business lifecycle.
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Question 2
If a business aims to increase its total sales as a percentage of the total market, what is it trying to improve?
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Answer: Market share
Market share is calculated by dividing a business's sales by the total market sales and multiplying by 100. Increasing this percentage allows a business to exert more influence over prices and gain a competitive advantage over rivals.
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Question 3
Which term describes a long-term goal that provides a clear direction for a business?
- A) Mission statement
- B) Tactical objective
- C) Operational aim
- D) Short-term target
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Answer: Mission statement
A mission statement outlines the core purpose and values of an organisation. It helps stakeholders understand why the business exists beyond just the desire to make money, helping to align employee behaviour with corporate culture.
Want to test yourself on the remaining cards for this topic?
7 more questions on Business aims & objectives — plus mistakes tracking and spaced repetition across the whole Business Studies spec.