1.3.1 Business Aims and Objectives Flashcards
1
Q
Aim
A
Overall target or goal of a business
2
Q
Objective
A
Small achievable targets or goals to reach the businesses’ overall aim.
3
Q
SMART acronym
A
Specific
Measurable
Agreed
Realistic
Time bound
4
Q
Types of aims and objectives
A
Financial
Non Financial
5
Q
What do financial aims and objectives cover
A
Business Survival
Profit
Sales
Market Share
Financial Security
6
Q
What are non financial aims categorised as
A
Social Objectives
Personal Satisfaction
Challenge
Control
Independence
7
Q
Why do business aims and objectives vary between companies
A
Different Sectors
Different business size and scale
