Changes In Business Aims And Objectives Flashcards
What may happen due to changes in market conditions?
The aims and objectives may change and could be because more businesses are entering a market or there could be external factors such as unemployment rising which affects the demand for products
What may happen due to changes in tech?
New production processes and products may be released into the market which would mean that the businesses need to adapt their currents aims and objectives. New technology could speed up production processes increasing output.
What may happen due to changes in performance?
May change performance depending on the previous year. E.g: a business that has performed well may want to grow and expand, however a business that did not perform well may need to reduce their staff to keep costs low
