204868
Description
Mind Map by Livv McCarthy, updated more than 1 year ago
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Created by Livv McCarthy
almost 11 years ago
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Chapter 2- business aims and objectives
- Mission Statement
- A mission statement if a
phrase used by a business
to summarise what the
believe in
- 'to inspire and nurture the human spirit- one person, one cup
and one neighbourhood at a time'
- A mission statement if a
phrase used by a business
to summarise what the
believe in
- Aims
- Aims are like targets a business
sets to achieve
- e.g a business may set aims to
bring in a certain profit for their
business to succeed
- Aims are like targets a business
sets to achieve
- Objectives
- e.g for the business to reach its aims
an objective may be to bring in a
certain amount of profit each month,
they can do this by
increasing/decreasing prices
- An objective is how and when a business is going to achieve their aims,
- e.g for the business to reach its aims
an objective may be to bring in a
certain amount of profit each month,
they can do this by
increasing/decreasing prices
- Survival
- Survival is the business succeeding and not
going bankrupt 'to survive' and stay in the
market
- Survival is the business succeeding and not
going bankrupt 'to survive' and stay in the
market
- Maximising Priofits
- Maximising Profits means to make the most
profit possible
- A business can do this by
keeping costs low and revenues
high
- The business needs to be
efficient as possible and use
its resources as efficiently as
possible
- Maximising Profits means to make the most
profit possible
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