Answer Happy

pages 22-23 are displayed in the images
above.
and the question is where it says 'katerina' in blue pen at the
very bottom of image 3.
a Sale now on. 1.5.3 Financial goals 1. Making a profit. This is a financial There are many ways businesses can maximise profit. A business goal that is central to many owner's idea for a business may involve selling products at low businesses. Profit is what is left prices to increase the volume of sales or using clever advertising after business expenses have been that will convince consumers to buy their new product. deducted from money came from sales (revenue). A loss occurs when the expenses exceed the revenue. For example, if business expenses totalled $100000 per year and revenue from sales was $300 000, the business would have made a profit. Many businesses not only want to make a profit, but also they want to maximise their profit. A business may set several other goals to support its main goal of maximising profit 2. Increase sales. This may be done by deciding to sell products at a lower price so consumers purchase more. Alternatively, the business may seek to increase sales through more clever marketing or creating innovative products or delivering better service than other businesses. 3. Increase market share. Market share is a business's share of total industry sales. This is easy to visualise using a pie chart that shows the percentage of sales the business has in relation to all its competitors. In many industries, increasing market share is usually a goal only for large businesses. Such businesses often develop an extensive product range, using many different brand names, to gain an extra few percentage points of market share. Small market share gains often translate into large profits for these businesses. 4. Expand the business. Most businesses want to grow. Growth might be achieved return on investment a po by opening more outlets, employing more staff, starting new projects or or negative percentage that introducing innovative products. A business can also expand by merging with relates the money gained or another business so that they become one. A merger occurred when airline on an investment to the cos of that investment. It is usue company Qantas joined with Jetset Travel. Expansion can also take place taken to mean that the retur through acquisition. This means that one business purchases another, for on the investment occurs on example, when Coca-Cola Amatil purchased Neverfail Springwater, which 12-month period supplies bulk bottled water to Australian homes and offices. productivity a measure of business efficiency compart 5. Maximising the return on investment. Making profit is the primary goal of many output produced with the businesses. This is particularly important for investors in a company. If the part of inputs. It is calculated usi of the profit gained by the business is returned to investors, then the return on formule: Productivity out Inputs their investment is important. The return on investment is a ratio that relates efficiency a measure of her the money gained or lost on an investment relative to the cost of the investment. we do things for example, It is expressed as a percentage. are able to produce more ou 6. Improving the way that the business operates. A business should constantly from the same inputs, we ha become more efficient at usi strive to improve the way it goes about its day-to-day operations. Three key these inputs aspects of measuring operational performance include productivity, efficiency effectiveness a measure of and effectiveness. Productivity measures how many outputs we produce per whether the business is doin input. Efficiency measures how well we do things and will help to increase our right things -- those that are productivity. Effectiveness looks at whether we are doing the right things, those Important to the success of business that are most important to the success of the business.
1.5.4 Social goals businesses operate within a community and, like individuals, have certain social responsibilities. Many sinesses develop social goals and adopt strategies that will benefit the community as well as achieving ancial goals. Among the main social goals are: 1. community service. Business sponsorship of a wide range of community events, promotions and programs have rapidly increased during the past decade. Many business owners plan to financially support educational, cultural, sporting and welfare activities. 2. provision of employment. Most businesses do not regard employment of people as a main goal. Many business owners, however, look at the continuity of their business, sometimes planning to employ family members who otherwise might be unemployed. creial justice. Everyone has the right to be treated fairly. A potential business owner may be concerned for social justice that is, they will plan to adopt a set of policies to ensure employees and/or other community members are treated equally and fairly. ecological sustainability. Businesses have to take increasing responsibility for the protection of the environment. Earth is a fragile ecosystem, and we need to take care so it can sustain itself. The social conscience of responsible business owners leads them to adopt policies of conservation, recycling and restoration THE BODY SHOP A SOCIALLY RESPONSIBLE BUSINESS: THE BODY SHOP Founded in 1976 by Dame Anita Roddick, The Body Shop is now a high profile advocate for social and environmental causes. Anita Roddick's original vision was to build a socially responsible business that supported the community. She developed five values: 1. activate self-esteem 2. oppose animal testing 3. support community fair trade 4. defend human rights 5. protect the planet. These values have guided The Body Shop's employees and their business decisions for three decades. Some of the Body Shop's campaigns include Stop Sex Trafficking of Children and Young People', 'Defend Human Rights', Against Animal Cruelty' and 'Protect Our Planet'. The Body Shop prides tself on being a retail activist. DID YOU KNOW? Some businesses are able to address both social and financial objectives. Westpac Group and IBM are two platinum members of the Australian Network on Disabilities and have made a significant commitment to including people with disabilities in the way they go about their business 1.5.5 Personal goals Prospective business owners usually have a number of personal goals. Often, the nature and operation of the new business will tend to reflect these personal goals, especially in small businesses. Personal goals of a higher income and improved financial security, for example, complement the business goals of growth. Personal goals for business owners are not normally made public. However, this does not diminish their importance because they motivate the business owner and may underpin the viability of the business.
McDonald's McDonald's Group Activity: Environment and Sustainability EXTRACT FROM WEBISTE: Being environmentally responsible is a key part of our business: We have always strived to be an environmentally responsible business. As one of the world's largest restaurant companies, we have the responsibility and opportunity to use our Scale for Good and take action on some of the most pressing social and environmental challenges in the world today, We embrace this opportunity to drive meaningful progress, and do so by collaborating with millions of customers, employees, franchisees, suppliers and other partners. While we're committed to taking on many challenges facing society today, we're elevating a few global priorities where we believe we can make the greatest difference and drive industry-wide change. As we work towards achieving these goals, we are proud that McDonald's Australia has already made good progress against a number of these targets, which create shared value for our business and our communities. You can read more about the progress we're making in the McDonald's Australia 2019 Scale for Good report. Task 1: You have been placed in a group and have been given an extract from McDonald's website that describes the way in which the company is being environmentally responsible (the implementation of a CSR strategy) to ensure sustainability. You are to read the information and address the following questions: Katerina 1. One member of the group is to read pages 22-23 and identify and explain two financial goal AND two social goals applicable to McDonald's. How would the CSR strategy assist the business to achieve these objectives (goals)?