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3. Business Economics
3.1 Business Objectives
3.1.2 Other Objectives
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Cards (25)
What type of objectives prioritize community well-being, ethical practices, and environmental sustainability?
Social objectives
Profit-driven objectives aim to increase revenue and reduce costs.
True
Social objectives align with corporate social responsibility (CSR) by integrating ethical and environmental
concerns
Ensuring fair labor practices is an example of an ethical objective.
True
What is one example of an ethical objective in business?
Promoting diversity
Match the objective type with its focus:
Profit-Driven ↔️ Increasing revenue and reducing costs
Social ↔️ Enhancing community well-being
Ethical ↔️ Upholding moral principles and values
What type of objectives aim to minimize negative environmental impact and promote sustainability?
Environmental objectives
Environmental objectives align with CSR by integrating environmental
considerations
What are social objectives focused on unlike profit-driven objectives?
Positive impact on society
Social objectives align with corporate social responsibility (
CSR
) by integrating ethical and environmental concerns into business operations.
True
Ethical objectives are measured using compliance with ethical standards, employee satisfaction, and customer
feedback
Match the objective type with its focus:
Profit-Driven ↔️ Revenue and cost management
Social ↔️ Community well-being
Ethical ↔️ Moral principles and values
Environmental objectives are related to corporate social responsibility (
CSR
) by integrating environmental considerations into business strategy.
True
Social objectives differ from profit-driven objectives by focusing on making a positive impact on
society
What is one reward for achieving social objectives?
Enhanced brand reputation
What type of objectives uphold moral principles and values in business operations?
Ethical objectives
Employee satisfaction and retention is a metric used to measure ethical
objectives
Ethical objectives align with CSR by integrating moral considerations into business decisions.
True
Ethical objectives benefit both the organization and its
stakeholders
Achieving carbon neutrality by
2030
is an example of an environmental objective.
True
Match the objective type with its focus:
Profit-Driven ↔️ Increasing revenue and reducing costs
Social ↔️ Enhancing community well-being
Environmental ↔️ Minimizing environmental impact
Social objectives are measured using metrics such as community engagement levels, carbon footprint reduction, and fair labor
compliance
What is the primary focus of ethical objectives in business operations?
Upholding moral principles
Ethical objectives align with corporate social responsibility (CSR) by integrating moral considerations into business decisions.
True
What is the main goal of environmental objectives in business operations?
Minimize negative impact