ii. Market share is the percentage of the total revenue or sales in a market that a company's business makes up. In simpler words how much they sell compared to the total amount of product sales by other companies.

b. It is important for Lenovo to have a specific objective in mind. Having a clear objective to have good customer service would please the customer and increase the chance of them returning to buy more of the product, Creating trust and integrity allow for the business to be more popular with its name and high-quality product, in which would both gain and keep customers.

Teamwork across cultured would allow for more creativity, ideas, and a better understanding of the culture and markets of other countries in which is important for creating and selling the product. Knowing various cultures would help the other 2 objectives of serving and creating trust. This is the same for having an entrepreneurial spirit to allow for more creativity and innovation. In which, could create an entirely new experience and product for the consumer. It is also important for coming up with ideas and strategies like sponsoring different sports events to gain more market share and popularity. Creating a name and image for themselves, improve on trust and service while innovating and interoperate various cultures into the process of making the product.

Without these objectives, Lenovo would be lost, and the employee would not know what to focus on, which could create a bad name and reputation for business, affecting sales and popularity amongst its consumer in this media age where news can spread worldwide in second. Without different cultures and ideas, the company would have not also think of creative sponsorship ideas and would not even be popular in the first place to gain more market share, plus its product may be less popular or appropriate for various nations and cultures.

 ii.  Market share the how much percentage of the company total sales takes up in the designated industry they work in.

b. Objectives are born to give the company a guide to their desire aims, objectives need to be motivated, direct and controllable. Objectives that are clear and well defined, can help employees have a better way of understanding their company’s aim. It can also help to motivate workers throughout the company hierarchy system to be productive towards a common goal. Objectives also help with control which activity should or shouldn’t to the company, helping directors to have a firm plan and control the performance of the business as a whole. In this case, Lenovo specifically creates its values (probably objectives) specifically. Helping them to organize and set boundaries the business, considering that they acquired a division of computer of IBM, which is also a company that had its own aims, objectives, strategies and tactics.

(ii) Market share is a measure of the power that the business holds within its industry. It shows their influence on other businesses in the same industry. It is measured by the percentage of the business’s total revenue or sale compared to the whole market’s total revenue or sale. 

 

b)   Having a specific objectives will help Lenovo to motivate their employees. As Lenovo’s aim is to increase its market share, when the owner sets this specific objective, the employees as well as the managers will be inspired which helps to unify and motivate the workforce in order to help Lenovo accomplish it. Moreover, it will help to measure and control the business’s performance. As they have set a boundaries for business activity, they provide the basis for measuring and controlling the performance of the business as a whole. For instance, Lenovo can measure its profitability and market presence more efficient as the owner has already set an aim to raise their market share.Lastly, setting a detailed objectives will provide a direction for a business which they have a sense of purpose and they know what are their aims and so they try to operate the business suitably to achieve it. They are the foundation for decision-making and are used to devise the business. As Lenovo is already set their specific strategy and they work based on their objective, they are succesfully achieved it and raised their market share to the world. 

(ii) Market share is the total percentage of a company's sales or sales relative to the total sales or total sales in the market for a given period of time.

b) It is important for Lenovo to specify their organizational objectives because it allows them to determine the ways to grow the company. By setting and specifying organizations objectives, the company will have a better understanding of the stratergies they should take to achieve the objective