Ch2 - AO1 Flashcards
1
Q
Mission statement
A
Written statement that describes the overall purpose of the business 
2
Q
Objectives
A
Goals of business sets to help the business achieve the mission. These can be financial or non-financial. 
3
Q
Smart aims
A
Goals which are specific, measurable, achievable, realistic, and timely. 
4
Q
Market share
A
The proportion of total sales in the market made by one business 
5
Q
Profit maximization
A
To make as much profit as possible
