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
2
Q
what are 2 possible business aims
A
maximising profit
survicing
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
4
Q
3 key factors that influence a business’ aims
A
the size of business
level of competition
type of business