chapter 5 aims and objectives

Question 1

what are some business objectoves

Answer 1

• survival
• profit maximisation
• sales maximisation
• growth
• increase shareholder value
• corporate social responsibility

Question 2

what are business aims

Answer 2

Business aims are what the business wants to achieve in the future and they tend to be quite generic and broad.
They set out the goals for the business.

Question 3

What are benefits of having a vision statement

Answer 3

A clear vision
Can help in setting objectives
Focuses senior management on tasks to achieve the vision
Communicates to employees how they can help
Commits resources to achieving the vision