Global Business Objectives Quiz

Study Notes

Profitability: A fundamental goal of all businesses, regardless of scale or location.
Growth: Expanding operations, increasing market share, and reaching new customer bases globally are key drivers of growth.
Sustainability: Balancing economic prosperity with social and environmental responsibilities.
Innovation: Developing new products, services, and processes to stay competitive in the ever-evolving global marketplace.
Customer Satisfaction: Meeting customer needs and expectations worldwide, driving loyalty and brand advocacy.
Social Responsibility: Acting ethically and contributing positively to the communities in which they operate.

Short-term profit maximization at the expense of long-term sustainability. While profit is important, prioritizing short-term gains can compromise the long-term viability of a global business and its impact on the environment and communities.
Exploitation of workers or resources in developing countries. Ethical and sustainable practices are crucial in a global context, and exploiting workers or resources undermines the principles of fair trade and social responsibility.
Neglecting local cultures and customs. Globalization necessitates respecting and adapting to different cultural norms and practices in order to build trust and succeed in diverse markets.
Prioritizing shareholder interests over stakeholder interests. Global businesses have responsibilities to a wide range of stakeholders, including employees, customers, suppliers, and local communities.