aims and objectives Flashcards
1
Q
aim
A
General goal for a business
2
Q
objective
A
Specific target that is set to help a business achieve an aim
3
Q
shareholder value
A
How much the shareholders percentage is worth
4
Q
dividends
A
Percentage of profits paid out to shareholders
5
Q
ethical
A
Making decisions that are morally right
6
Q
customer satisfaction
A
Keeping the people who buy the product happy
7
Q
growth
A
Selling more of your products i.e opening new stores abroad
8
Q
market share
A
The percentage of total sales that a particular product or business makes
9
Q
all 8 business objectives
A
- survival (new business)
- making profit (both)
- shareholder value (established business)
- customer satisfaction (both)
- market share (established business)
- growth (established business)
- being ethical (both)
- environmental considerations (both)
10
Q
purpose of setting objectives
A
- it helps with decision making e.g objective is growth focus on selling abroad
- helps investors know the direction of business - may –make them more willing to invest
- provides a target for everyone to compare results
- helps employees to stay on the same page
11
Q
market share equation
A
(business sales ÷ total sales) x 100 = expressed as a %
