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Questions and Answers
What is the primary focus of a business organisation?
What is the primary focus of a business organisation?
- Maximizing profits and shareholder value (correct)
- Providing social welfare to the community
- Minimizing competition in the market
- Ensuring employee satisfaction only
What is a common characteristic of a business organisation?
What is a common characteristic of a business organisation?
- Chaotic decision-making process
- Complete decentralization
- No defined goals
- Hierarchical structure (correct)
What is the significance of strategic planning in a business organisation?
What is the significance of strategic planning in a business organisation?
- Isolated from the overall business operations
- Reduces the need for skilled employees
- Guides decision-making and resource allocation (correct)
- Increases short-term profitability only
