200786
Business aims and
objectives
- What is a mission statement?
- A small paragraph about why the
company are there and what they
want to get out of it.
- A small paragraph about why the
company are there and what they
want to get out of it.
- What are aims?
- What the business wants to achieve
- eg: Maximise profits
- eg: Maximise profits
- What the business wants to achieve
- What are objectives?
- How to achieve the
businesses aim: usually a time
frame and a financial figure.
- Raise the profits by 10% by next year.
- Raise the profits by 10% by next year.
- How to achieve the
businesses aim: usually a time
frame and a financial figure.
- What is maximising profits?
- Methods to bring in more money to the
business like; raising prices and selling
more products.
- Methods to bring in more money to the
business like; raising prices and selling
more products.
- What is maximising market share?
- Maximising the amount of people who want to
buy from your company.
- e.g: Advertising because more
people will know about the company
and their products so it will increase
sales and reputation.
- e.g: Advertising because more
people will know about the company
and their products so it will increase
sales and reputation.
- Maximising the amount of people who want to
buy from your company.
- What is survival?
- Keeping the business running
successfully.
- Keeping the business running
successfully.
- What is breaking even?
- When they only cover their own costs - they don't earn
profit or lose money.
- When they only cover their own costs - they don't earn
profit or lose money.
- What is market growth?
- Growing the business by introducing
more products and selling products in
other countries.
- Growing the business by introducing
more products and selling products in
other countries.
- What are non-financial aims?
- Where it doesn't involve money. eg:
Employ better staff.
- Where it doesn't involve money. eg:
Employ better staff.
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