Factors Affecting Aims And Objectives

Question 1

What is legislation?

Answer 1

Legislation are laws that may force a business to change its aims and objectives, products or services. They may also force a business to adapt the way it operates.

Question 2

New competitors

Answer 2

As new competitors enter the market or current competitors grow and become more competitive they may have to adapt aims and objectives to remain competitive.

Question 3

New technology

Answer 3

Adopting new technology may cause a businesses cost to increase and lead to laying off of workers.

Question 4

Economic climate

Answer 4

May change the level of demand and spending in a market leading to branching out to become necessary.

Question 5

Annual objectives

Answer 5

Reflect the previous performance of a business.

Question 6

Change is working culture or a change in leadership

Answer 6

Likely to influence may lead to change’s objectives as ambitions change.