LO1: businesses aims and objectives Flashcards
1
Q
what is a business aim?
A
the long-term outcome that is desired from undertaking business activity.
2
Q
what is a business objective?
A
the short-term specific targets that are set to help a business achieve its overall aims.
3
Q
what are the 5 aims and objectives?
A
1.survival
2.finical
3.growth
4.reputation
5.eneterprise
4
Q
what is survival?
A
is usually an objective when the business is threatened
5
Q
what 3 scenarios impact survival?
A
-when a business is trying to set-up itself
-when trading is difficult
-when there is a threat to takeover
