Business Ideas in Practice 1.3

Question 1

Business Aims

Answer 1

1. Survival in the initial time in the companies lifespan
2. To maximise profit to ensure a positive cashflow
3. Increase market share in order to outdo competitors
4. Maximise sales in order to gain more profit
5. Achieve financial security and be safe from going bankrupt

Question 2

Aim

Answer 2

A long term goal that is broad (i.e. Become debt free)

Question 3

Objective

Answer 3

A short term precise goal that is quantifiable and achievable (i.e. become a $500,000 business on 13 years)