business objectives

Question 1

what are business objectives

Answer 1

intermediate targets and goals a business needs to achieve in order to make progress towards the long term aim

Question 2

survival

Answer 2

times business will focus on survival
early stages of development
difficult trading conditions
in a take over bid

Question 3

profit maximisation

Answer 3

occurs when business sets out with an aim to make as much profit as possible
some entrepreneurs have the desire to get rich
shareholders may favour profit maximisation
profit provides security
retained profit can be used to fund investment

Question 4

sales maximisation

Answer 4

selling as many items as possible
growth can bring about stability and increase chances of survival
can help build a customer base
maximise sales cleans out unsold stock

Question 5

what are other objectives

Answer 5

market share
cost efficiency - getting max output out of given amount of resources
employee welfare -
customer satisfaction 
social objectives