Topic 1 - Business in the real world (3. setting business aims and objectives ) Flashcards
1
Q
what are aims
A
overall goals a business wants to achieve
2
Q
examples of different goals
A
survival, maximise profit, growth, increase shareholder value, increase market share, working and producing products more ethically, customer satisfaction
3
Q
what are objectives
A
specific targets to help achieve your overall aim
4
Q
what are the 3 different factors that effect a companies objectives
A
size of the business
level of competition the business faces
type of business
5
Q
how might a businesses aims and objectives change over time
A
new legislation
changes in the economy
changes in technology
environmental expectation
