1.3, putting a business idea into practice Flashcards

1
Q

what is the difference between a business aim and objective

A

aim is an ultimate purpose

whereas an objective is a goal that is sought in order to achieve an aim

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2
Q

what are 2 possible business aims

A

maximising profit

survicing

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3
Q

what are 4 possible business objectives

A

increasing market share

growth, such as the number of sales or employees

customer satisfaction

social or ethical ones

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4
Q

3 key factors that influence a business’ aims

A

the size of business

level of competition

type of business

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