1.3 Business Aims and Objectives Flashcards
1
Q
Business survival
A
Business survival refers to keeping the business operating for a certain amount of time.
2
Q
Profit maximisation
A
Will become the aim of a business once it has reached its break even point
3
Q
Growth
A
can refer to increasing the number of employees, the number of products sold, or income from sales. Firms may aim to grow domestically (in the same country) or internationally (in other countries).
4
Q
Aim
A
The general goal of a business
5
Q
Objective
A
A specific target that is set for a business to achieve
6
Q
Private sector organisations
A
Owned by individuals
7
Q
Public sector organisations
A
Owned by the government
