Flashcards in 3 Business activity : Aims and Objectives Deck (13):
What is an aim ?
Long term goals that a business wants to achieve
Profit - most businesses will maximise profits for future plans , satisfaction and other for charity
Growth - raise profits
Important for large businesses who pay shareholders
Sales to grow to attract customers eg .new products
Market share - business has a greater percentage share of the market to eliminate competition
Survival - new business ( keep going )
Established (problems like falling sales , completion)
P........ A S.........
Providing a service - better service = more customers = profit
Even if they don't make profit they can earn
A good reputation and awards
Environmental - take action on what is happening around us
Ethical - matters such as child labour , working consisting and
testing on animals .
What is an objective ?
Steps a business takes to work towards achieving its aims
Aims for different businesses
Need to win customers
Competition may lower prices q
Aims for an established business
- Greater profit