The goals or targets set by a business to help achieve its long-term purpose

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Study for the Edexcel A-Level Business Test. Dive into flashcards and multiple-choice questions, each with helpful explanations. Elevate your exam readiness today!

Multiple Choice

The goals or targets set by a business to help achieve its long-term purpose

Explanation:
Objectives are specific, measurable targets that a business sets to achieve its long-term purpose. The phrase “goals or targets” points to concrete, quantifiable aims with a deadline, guiding actions and resource allocation. Aims are broader statements of intent and less precise, while profit maximisation or sales maximisation are examples of possible objectives rather than the general term itself. Using SMART criteria (Specific, Measurable, Achievable, Relevant, Time-bound) helps keep these targets clear and trackable. So the description matches objectives.

Objectives are specific, measurable targets that a business sets to achieve its long-term purpose. The phrase “goals or targets” points to concrete, quantifiable aims with a deadline, guiding actions and resource allocation. Aims are broader statements of intent and less precise, while profit maximisation or sales maximisation are examples of possible objectives rather than the general term itself. Using SMART criteria (Specific, Measurable, Achievable, Relevant, Time-bound) helps keep these targets clear and trackable. So the description matches objectives.

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