Topic 1.3: Business Objectives Questions

Harbour Bank is a regional bank. It has stopped lending money to new coal mines, gives every employee two paid days a year to volunteer in the community, and offers interest-free loans to local charities. Explain one action that Harbour Bank is taking towards improving its corporate social responsibility (CSR).

Arcbuild is a construction company that builds new houses on the edge of three cities. State two examples of corporate social responsibility (CSR) that a business such as Arcbuild could implement.

Define the term vision statement.

FreshFold, a laundry business, has grown from one site to six in four years. State two ways a business could measure its growth.

Seaview Hotels runs twelve hotels along the coast and wants its guests to see it as a responsible business. State two examples of corporate social responsibility (CSR) that a business such as Seaview Hotels could implement.

Leafly Drinks makes bottled iced tea. It has cut the sugar in its drinks by 30%, pays for its employees to take evening university courses, and now sells every drink in a bottle made from recycled plastic. Explain one action that Leafly Drinks is taking towards improving its corporate social responsibility (CSR).

Which statement gives the clearest meaning of a conflict between business objectives?

Harbourside Hostel has just written its first mission statement: “A clean bed, a warm welcome and the city’s best breakfast for travellers on a budget”. State two purposes of a mission statement.

Ortiz Engineering, a family firm with 120 employees, prints its mission statement at the top of every staff meeting agenda. State two purposes of a mission statement.

Define the term business objective.

State two examples of CSR activities.

Kestrel Phones makes smartphones. It takes back customers’ old phones to recycle their metals, sells spare parts so that owners can repair a phone rather than replace it, and has fitted its main factory to run on wind power. Explain one action that Kestrel Phones is taking towards improving its corporate social responsibility (CSR).

What does it mean for an objective to be SMART?

Which of these is an example of a corporate social responsibility activity?

Explain one ethical objective a business might set.

The three founders of Greenleaf, a garden centre, keep disagreeing about what to stock, and their accountant suggests they agree a mission statement. State two purposes of a mission statement.

Define the term strategic objective.

Which statement gives the clearest meaning of a vision statement?

State two common business objectives.

Define the term ethical objective.