1.5.3 Business Objectives Flashcards
1
Q
Objectives
A
Short-term statements detailing how to achieve the organisation’s goals
2
Q
SMART objectives
A
S = Specific
M = Measurable
A = Achievable
R = Realistic
T = Timebound
3
Q
Mission statements
A
Written document that show the purpose of the business. Also help to guide the business
4
Q
Survival
A
Generating enough revenue to stay in business
5
Q
Sale maximisation
A
Main priority is to achieve as many sales as possible
6
Q
Market share
A
Percentage of the market that a business dominates
7
Q
Employee welfare
A
Main priority is to make sure staff are well looked after to create relationships with them
