Aims and objective Flashcards
What is the difference between an aim and a objetive in a business?
business aim is the overall long-term target or goal of the business, whereas business objectives are the short-term steps a business needs to take to meet its overall aims. A business may have several different objectives that will help it to meet its aim.
What is profit maximisation?
Profit maximisation refers to any money left over after all costs have been taken away from any revenue made by a business. Businesses want to make as much profit as possible. Sales refer to an amount of a product or service sold by a business.
What is survival in a business
Business survival refers to keeping the business operating for a certain amount of time. Most businesses initially aim to survive their first year.
What is growth in a business
Business growth refers to the increase in a company’s size, revenue, market share, and profitability over time. This can be achieved through a variety of means, including expanding into new markets, developing new products or services, and increasing sales.
What is market share
Market share is the percent of total sales in an industry generated by a particular company.
