Examples of long-term goals include which of the following?
A. Market share
B. Production quantity
C. Social responsibility
D. Quarterly sales
Answer (2)
Market share and social responsibility are examples of long-term goals in business. Market share reflects a company's growth strategy, while social responsibility indicates its commitment to ethical practices and community impact. Options B and D focus on short-term operational goals instead.
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In the context of business, long-term goals are targets that a company aims to achieve over an extended period, typically three to five years or more. These goals are essential for strategic planning and preparing the organization for future challenges and opportunities.
Let's analyze the given options:
(A) Market share - Chosen Option : Increasing or holding a certain market share is a typical long-term goal for businesses. It's about capturing a greater portion of the market compared to competitors, which often requires sustained efforts over a long period, including marketing strategies, product development, and customer relationship management.
(B) Production quantity: While production quantity can relate to long-term planning, it is more often associated with short to medium-term goals, focusing on meeting immediate demand or operational capacity.
(C) Social responsibility: Aiming to enhance a company's social responsibility is also a long-term goal. It involves initiatives like improving sustainability, supporting community programs, and ensuring ethical business practices. These efforts contribute to the company's reputation and long-term success.
(D) Quarterly sales: Quarterly sales are typically a short-term goal, involving immediate revenue targets for a specific quarter or financial period.
In summary, both (A) Market share and (C) Social responsibility are examples of long-term goals, as they involve foresight and commitment to strategic objectives beyond the immediate future. However, for this multiple-choice structure, if only one option can be chosen, (A) Market share is a clear example of a long-term goal.
