Which of these Business Aims is most likely to be for a business currently in its first year?
Survive
Expand
Make a Profit
SMART Objectives:
What does the S stand for?
Specific
Similar
Systematic
What does the M stand for?
Measurable
Mathematical
Marked
What does the A stand for?
Achievable
Attainable
Accessible
What does the R stand for?
Realistic
Rational
Reasonable
What does the T stand for?
Time-Specific
Timed
Term-Specific
Growth is a business Objective, and the Aim could be £10 million sales in the UK
Why have a business aim?
They can be broken down to help specific functional areas understand what is required of them
It can help Shareholders decide whether they want to invest
It allows the CEO to tell his workforce what he alone wants them to do
Being Ethically and Socially responsible is an aim for all Businesses
Not all Companies Have a mission statement
Which of these are possible Business Aims
Customer Satisfaction
Being Ethically responsible
Achieve sales of £1.5 million
Sales Growth
Expansion
Expand to 7 different outlets
Cut down unethical labor by 15%
Make a profit
