business aims and objectives

Question 1

why are business aims helpful? (4)

Answer 1

1.define the nature and purpose of the business
2.set targets for achievement
3.measure performance over time
4.enable business managers/owners to plan for the future

Question 2

aim: growth

Answer 2

a successful business wants to expand some by profit.
it can be achieved by increasing sales increased market share selling new products and entering new markets.

Question 3

aim: survival

Answer 3

becoming established takes time for new businesses so the basic aim is to survive.
this can be done by reducing prices and minimising costs eg bills.

Question 4

aim: profit

Answer 4

to improve profits and turnover from past years by raising prices affecting the business by raising sales as a result of profit

Question 5

aim: co-operate image

Answer 5

co-operate image creates a good reputation and image for the business. by advertising,charity work and sponsorship. further increasing sales and profits

Question 6

aim:social responsibility

Answer 6

to be socially responsible for the community by caring for the environment, charity work and sponcership giving loyal customers increasing sales and profits

Question 7

aim:concern for environment

Answer 7

this aim gains customer loyalty by increasing awareness of activities eg reduce reuse recycle by doing this more customers are attracted.