Edexcel IGCSE Business Studies 1.1 Business Objectives Questions

IKEA is a well-known home furniture retailer with stores throughout the world. It was started in 1943 by Ingvar Kamprad when he was given some money by his father for doing well at school. He wanted to produce furniture at a price that people could afford to buy.

He realised that transporting furniture to customers was difficult as goods were often damaged. He developed flat packs to avoid damage. A flat pack contained all the materials needed to self-assemble a table, a chair or a bed.

All IKEA stores are run as franchises.

Which one of the following is a financial business objective?

Select one answer.

The Better Toy Store (TBTS) is a children's toy shop. TBTS has three shops in Singapore. Two of the shops are located in busy shopping malls and the third is located at the Jewel Changi Airport. TBTS has a website for customers looking to buy toys online.

TBTS selects toys to sell that are excellent for play, value, design and quality. All TBTS toys are environmentally friendly.

Which one of the following is a financial aim for a business?

Select one answer.

Loaf, a bakery and cookery school, was set up by Tom Baker in Birmingham, UK. The aim is to promote real food and healthy living. It wants to use its skilled chefs to bring real food to the kitchens of the local community. It uses its cookery courses and bakery to help restore the local high street. Loaf also hosts pop-up events (one-off events) in different parts of the city where it shows off its products. Any profit made through these events is directed towards furthering Loaf's charitable work.

Loaf operates a scheme called 'Waste Not'. At the end of the day Loaf donates any leftover food to charities who distribute it to local people. In addition, Loaf provides a recycling hub for the local community.

Loaf is a social enterprise with nine members of staff; six of whom are directors.

Which one of the following is a non-financial business objective?

Select one answer.