Homework 3
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The document discusses various business objectives: 1. Short term objectives include survival for new or struggling businesses, while long term objectives include profit maximization which owners and shareholders aim for. 2. Survival mode means cost cutting and saving cash, unlike growth mode which involves reinvesting profits and expanding operations. 3. Profit maximization enables businesses to pay higher wages, dividends, and survive downturns, while objectives like market share and corporate image can also maximize long term profits.
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4) Guidance for participants on preparing for the simulation through reading the handbook and practicing the software tools.
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Why businesses exist
Business objectives such as:
Profit
Growth
Survival
Cash Flow
Social
Ethical
The relationship between mission and objectives
Why businesses set objectives
The measurement and importance of profit:
Revenue (also known as turnover or sales)
Fixed Costs
Variable Costs
Total Costs
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This document outlines assumptions that a business would need to make in key areas such as customer needs, solutions, target customers, value propositions, marketing, business models, competition, product risks, and critical risks. The business is prompted to identify assumptions in each of these areas and prioritize them as having high, unknown, or low risk. It also provides guidance on running targeted experiments to test assumptions and gather feedback to confirm or iterate the business model.
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CH05 Business objectives and stakeholder objectives.pptx
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Different business objectives
The main internal and external stakeholders groups
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- 1. Name: ____________________ Class : ____________________ Mark _____ Homework Chapter 5 1. What Objectives do business set? _____ The main objectives that a business might have are: Survival – a short term objective, probably for small business just starting out, or when a new firm enters the market or at a time of crisis. Profit maximisation – try to make the most profit possible – most like to be the aim of the owners and shareholders.__________________________________________________ ______________________________________________________________ _______ 2. What is Survival of a business? __ Survival mode means cutting costs, laying off employees, tightening profit margins and saving cash, in stark contrast to growth mode, during which a company reinvests profits, expands operations and brainstorms growth strategies with long-term payoffs._______________________________________________________ ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ _____ Explain the following briefly 3. Profits as a Business Objective? __ Profit Maximisation. Higher profits enable a firm to pay higher wages, more dividends to shareholders and survive an economic downturn. Many other objectives such as corporate image an increasing market share can be a way to maximise long-term profit ____ ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ ________________________________________________________ 4. Growth as a business objectives?
- 2. Name: ____________________ Class : ____________________ Mark _____ _ Growth can be a strategic objective that helps a company better position and market itself against its competitors. Competitive reasons for growth include: Gaining a better market position (except in a declining industry). ... Increasing volume of product to become more competitive in terms of price. ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ _____________________________________________________________ 5. What is Returns to share holders? ____ Total shareholder return is the financial gain that results from a change in the stock's price plus any dividends paid by the company during the measured interval divided by the initial purchase price of the stock. Assume that an investor bought 100 shares at $20 and still owns the stock ______________________________________________________________ ______________________________________________________________ __________________________________________________________ 6. What is Market Share ? ___ Market-share models are models for understanding how the marketing efforts of every brand impact the results in a competitive marketplace. ... The profit-oriented goal of market-share analysis urges us to ask how the firm's allocations of resources to aspects of the marketing mix produce bottom-line results ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ ___________________________________________________________