AIMS and OBJECTIVEs Flashcards
what is an aim
long term not specific -make a sale decrease costs grow in another country
whats A objective
A objective is a specific goal that meats an aim - have 31 shapes open by 11/3/25
whats does pigss stand for
Profit
Image
Growth
Social
survive
what does smart stand for
Specific
Measurable
Agreed
Realistic
Timed
what is profit
Money left over after all costs are taken from revenue
whats the formula for profit
Revenue – all costs = profit
why is profit important
Its one of the business rewards and gaols
how can a business grow
internally or externally
why does a business need cash flow
Business have start up and running costs
whats the growth formula
Growth = profit
Why do business set objectives
Common sense of purpose
Motivate employees
Create rewards
Measure and review performance
whats the Private sector
owned by people maximises profit
whats the Voluntary sector
not a financial goals people volunteer help people
whats the Public sector
owned by state improve quality of service taxes pay for it
what is a Stakeholder
someone who has a interest in a business
