Business aims and objectives

Question 1

What are businesses aims and objectives ?

Answer 1

Business survival
profit
sales
markt share
financial security
customer satisfaction

Question 2

What is business survival?

Answer 2

refers to keeping tge business operation for a certain amount of time

Question 3

What is profit?

Answer 3

Refers to an amount of product or service solf by a business taken away from any revenue made by a business

Question 4

What is market share?

Answer 4

refers to the % of the market that a business occupies. The market is the industry that a business operates in like the fast food industry an example gor market share would be to have 5% of shares in the fast food market within a 100 mile radius in the first 12 months

Question 5

What is financial security?

Answer 5

relates to a business being able to afford to pay off all its costs and have enough cash left to survive

Question 6

What is customer satisfaction?

Answer 6

Refers to how happy customers are with a company’s products and services, company’s can use surveys ans ratings to help determine how to improve their business