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Questions and Answers
What is the primary aim of survival for new or small firms and those in highly competitive markets?
What is the primary aim of survival for new or small firms and those in highly competitive markets?
- Survival (correct)
- Profit maximization
- Market domination
- Customer satisfaction
Which factor makes decision making easier and less time consuming for businesses when objectives are set?
Which factor makes decision making easier and less time consuming for businesses when objectives are set?
- Clear targets (correct)
- Sector of the business
- Increased competition
- Size of the business
What is the income of a business from its activities after deducting total costs?
What is the income of a business from its activities after deducting total costs?
- Profit (correct)
- Revenue generation
- Economic growth
- Profit maximization
What is the most common primary objective for private sector firms?
What is the most common primary objective for private sector firms?
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What does setting objectives help to reduce in a business?
What does setting objectives help to reduce in a business?
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