36 exam-style questions on Business objectives — topic 1.3 of Introduction to business management in the IB Business Management syllabus — with answers and explanations. Samples below; the full set is free with an account.
A soft-drinks producer begins selling its existing cola brand in a new overseas market. According to the Ansoff matrix, this growth strategy is:
Answer: Market development
Market development means selling existing products in new markets, such as new countries or new customer segments; the product itself is unchanged.
Which of the following is the best example of an ethical objective?
Answer: Buying only from suppliers who pay workers a fair wage
Ethical objectives are targets based on moral codes of conduct, such as fair treatment of suppliers and workers, rather than purely commercial or legal considerations.
A rise in interest rates will increase the cost of a firm's planned borrowing. In a SWOT analysis this factor should be recorded as a:
Answer: Threat, as it is an unfavourable external factor
Interest rates lie outside the firm's control, so the factor is external; unfavourable external factors are threats, while weaknesses are internal shortcomings of the business itself.
To counter a rival's weekend promotion, a supermarket cuts the price of selected items for three days. This decision is best classified as a:
Answer: Tactical objective
Tactics are short-term, small-scale responses usually taken by middle managers; strategies are long-term plans set by senior management to achieve the organisation's aims.
Which option lists the elements of business planning from the most general to the most specific?
Answer: Vision → mission → aims → objectives
The vision is the broadest long-term aspiration, the mission states the organisation's purpose, aims are broad goals, and objectives are the specific, measurable targets derived from them.
Which of the following is the most likely long-term benefit to a business of a genuine commitment to corporate social responsibility?
Answer: Improved brand reputation and loyalty
CSR can strengthen a firm's image, attract ethically minded customers and employees and reduce reputational risk, but it guarantees neither market share nor legal exemptions.
That was 6 of 36 Business objectives questions.
Practise all 36 freeOutlineAO1 · 2 marks
A brief account or summary: the main points in two or three sentences, no evaluation.
DistinguishAO2 · 4–6 marks
Make the difference clear for BOTH terms — a definition of one of them is only half an answer.
DescribeAO1 · 2 marks
Give a detailed account of what it is or how it happens — steps, features, pattern — without saying why.
36 Business objectives questions — free with an account. Spaced repetition, streaks and full exam simulations included.
Practise them freeThis platform is independently developed and is not endorsed by, affiliated with, or sponsored by the International Baccalaureate Organization. “International Baccalaureate” and “IB” are registered trademarks of the IBO.