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Business 📈 > 2.1.2 Changes In Business Aims And Objectives 📤 > Flashcards

2.1.2 Changes In Business Aims And Objectives 📤 Flashcards

1
Q

What are the financial and non-financial aims of a business?

A

FINANCIAL- profit sales marketshare financial security survival

NON-FINANCIAL- social obj personal satisfaction control challenge Independence

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2
Q

What are aims ?

A

Strategic goals of a business - long term

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3
Q

What are objectives?

A

Specific steps

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4
Q

Why do business aims and objectives change ? In response to… (5)

A
  1. Market conditions
    Eg an increase/decrease in competitors
    Change in price
    Customer trends
  2. Tech eg website developments
  3. Performance
    Eg if done well would want to expand
  4. Legislation eg minimum wage
  5. Internal reasons
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Business 📈 (17 decks)

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