1- Business firms pursue several different types of goals such as profit, sales,
ID: 1219717 • Letter: 1
Question
1- Business firms pursue several different types of goals such as profit, sales, market share, quality, customer satisfaction, employee welfare, and social responsibility. Which of these statements is most accurate?
a- There is little value in selecting market share as a goal if you first do not make profit a goal.
b- If profits are acceptable, a company may elect to maintain or increase its sales even though profits may not be maximized.
c- Customer satisfaction is a laudable (worthy) goal, but it rarely leads to an increase in profits.
d- Only nonprofit organizations have the luxury of selecting customer satisfaction and employee welfare as goals.
e- A business firm should select only one business goal or it will flounder.
Explanation / Answer
b- If profits are acceptable, a company may elect to maintain or increase its sales even though profits may not be maximized.
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