Why might a business change its objectives?

A business may change its objectives to react to emerging market demands as a means of staying relevant and competitive. Markets are dynamic and constantly evolving due to factors such as consumer preferences, technological advancements, and economic shifts. By adjusting objectives in response to these changes, a business can better align its products or services with what customers are looking for, ensuring that it meets their needs and enhances customer satisfaction. This responsiveness can also aid in capturing new market opportunities, resulting in growth and increased market share.

The other options do not adequately reflect the proactive nature of adapting objectives. Remaining focused on existing goals or maintaining the status quo does not account for the ever-changing landscape of market conditions and consumer behaviors, which can render static objectives ineffective. Minimizing competition is often a long-term strategy rather than an immediate reason to change objectives. In contrast, reacting to emerging market demands is a direct and dynamic approach to ensure a business stays competitive.