the objectives of business? Every business enterprise has certain objectives which regulate and generate its activities. Objectives are needed in every area where performance and results directly affect survival and prosperity of a business. Various objectives of business may be classified into four broad categories as follows: 1. Economic Objectives: Business is basically an economic activity. Therefore‚ its primary objectives are economic in nature. The main economic objectives of business are
Premium Business Economics
1. Describe what is meant by motivation. What types of non-financial reward might a company use to motivate employees? Ans: Motivation may stem from personal interest such as keeping safe or from external factors such as praise and reward. Non-financial rewards: * appreciation of hard work * a sense of achievement * responsibility and empowerment * opportunity for advancement * a sense of challenge and enjoyment. 2. Describe the effects of an unmotivated workforce on a company. How
Premium Motivation
Economic Objectives Business is basically an economic activity‚ its primary objectives are economic. The economic objectives of a business are to earn sufficient profit to give reasonable reward to the investors of capital and to provide funds for expansion and diversification. The main economic objective of business may be described as under: (a) Earning Profit: Business activity is undertaken for earning profit. Profit is the basic incentive to business pursuits. It is the most important objective
Premium Economics Business Marketing
Relevance and implication of business objectives models in terms of Nepalese enterprise. Ans: In much of economic theory‚ it is assumed that a business aims to maximise profits.In reality‚ most businesses which are run for “commercial gain” do have profit maximisation as an important objective – since the shareholders have taken a risk investing in the business and require a return (profit) to compensate them for their risk. Profit maximization is the process by which a firm determines the price
Free Economics Management Marketing
Business objectives are the ends that an organisation sets out to achieve. A business creates plans to enable it to achieve these ends. The objectives‚ and plans that an organisation creates are determined by balancing the requirements of the various stakeholders in the organisation. The stakeholders are those individuals and groups that are affected by and have an interest in how the business is run and what it achieves. Every business has a range of stakeholders‚ including: The objectives that
Premium Management Strategic management
Task 1 – Two Businesses on our doorstep Describe the type of business‚ purpose and ownership of two contrasting businesses (P1) ASDA- Type of business‚ purpose and ownership (P1) Business Sector Asda is a British supermarket chain that retails food‚ clothing‚ general merchandise‚ toys and financial services. It also has a mobile telephone network‚ (via the Vodafone Network)‚ Asda Mobile. Its head office is at Asda House in Leeds‚ West Yorkshire. Asda became a subsidiary of the American retail
Premium Corporation
Part A – Microeconomics: Question 1: Indicate whether each of the following changes in price cause total revenue to increase‚ decrease or remain unchanged? Explain why. (2 marks each) a Price falls and demand is elastic; b Price rises and demand is elastic; c Price falls and demand is unitary elastic; d Price rises and demand is unitary elastic; e Price falls and demand is inelastic. Question 2: a Define‚ describe and illustrate with a diagram‚ one opportunity cost
Premium Costs Economics Inflation
Activity 1: investigate what a business is and what businesses do. Introduction: My Businesses. I was asked to choose two businesses which one has to be local and the other has to be national. For this I have chosen Tesco and Sandwiches by Sue as my businesses because I can easily research about them as family and family friends work in both of the businesses‚ which means my research will be more accurate. I have also chosen them as they both have a store near to me (Tilbury Essex). I have had
Premium Business Marketing Business ethics
Section 1 – Know the employment rights and responsibilities of the employee and employer 1. Identify four main points that would be included in a contract of employment. If possible‚ use an example contract to support your answer (feel free to obscure any confidential information). Four main points that would be included in a contract of employment could be‚ the name of employer and the address of the workplace. The job title and the main duties and responsibilities of the employee will also
Premium Employment
ASESSMENT TASK 1 IMPLEMENT CONTINUOUS IMPROVEMENT BSBMGT403 NAME-SUKHVIR SINGH STUDENT ID – BSB000010R TRAINER’S NAME-NICOLAS TIRRIS DATE-30 OCTOBER 2015 Table of Contents Introduction 3 Background 4 Investor relations 4 Marketing Strategies 4 Technology 5 Customer Service 5 Implement Continuous Improvement Process 5 Improve Customer Service 6 Reference 6 Introduction Continuous improvement is systematic approach to making things better. Ironically‚ though‚ while many people do this in their
Premium Customer service Subsidiary Customer