Using Objectives to Judge Success Flashcards

All 4 cards in this deck

Name three ways a business can measure its success other than by profit.

Sales, market share, growth, customer satisfaction, repeat customers or shareholder value (any three).

If a business uses customer satisfaction to measure success, what would it look at?

Whether the number of customer complaints has reduced.

What is the purpose of setting objectives in running a business?

To set priorities and to make it possible to check on progress and identify improvements.

How can setting objectives help different parts of a business, such as marketing and operations?

It helps them work together smoothly towards the same target.