What 3 main factors affect what a business' objectives are? hypeyouranswerhere

Question

Question

What 3 main factors affect what a business' objectives are? hypeyouranswerhere

Answer 1

<br />The three main factors affecting a business' objectives are -<br />1. Competitive atmosphere<br />2. Market share and customer demands <br />3. Prospective Development of new products or services

Answer 2

Defining a business' objectives is a strategic activity which depends on several factors. Let's quickly go through the options. Firstly, we have the 'competitive atmosphere' which undoubtedly impacts a business' objectives by compelling it to distinguish itself or perform better than rivals. Company growth involves expansion plans and efficiency objectives and Customer demands can shape a business' quality and service goals, hence these also strongly influence a company’s objectives. Then Market shares, might require prioritizing marketing or sales operations accordingly but is not as universally impactful factors. While Legal foundations often dictate part of a company’s operations but rarely its objectives. Although Employee satisfaction is very important, it’s usually the outcome of fulfilling company’s objectives. Finally, prospective Development of new products or services indeed shapes a business’s direction which gets represented though objectives to innovate and create.

Question

What 3 main factors affect what a business' objectives are? hypeyouranswerhere

Answer

Answer

Explain

Hot Questions