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Business objectives and stakeholder objectives
Businesses can pursue various objectives, and their significance may vary over time. Key points include the necessity of business objectives, their importance, examples of different objectives such as survival, growth, profit, and market share, as well as the goals of social enterprises.
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30
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90 min
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CambridgeIGCSEBusiness StudiesUnderstanding business activity
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Business objectives and stakeholder objectives outcomes3 objectives
- Businesses can pursue various objectives, and their significance may vary over time. Key points include the necessity of business objectives, their importance, examples of different objectives such as survival, growth, profit, and market share, as well as the goals of social enterprises.
- Understanding the roles of different stakeholder groups in business activities is essential. This includes identifying key internal and external stakeholders, their varying objectives, and potential conflicts between these objectives, supported by examples.
- There are notable differences between the objectives of private sector and public sector organizations, which can influence their operations and strategies.
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