1.4
- Created by: hanfa
- Created on: 15-09-20 20:16
View mindmap
- 1.4
- business objectives:
- growth: increasing sales or market share, a way of increasing profits
- survival: concerned with a business' ability to continue in the long term, businesses may survive a short amount of time without making a profit.
- providing a service: some owners want the satisfaction of giving custmers a good service, can be seen as a way of making a profit as customers will return and new customers will use the business.
- profit: the reward to owners for taking a risk by investing money into the business, many businesses seek to maximise profits for the benefit of the owners
- reasons behind business objectives:
- growth: new business may set objectives for the growth of sales or market share to help them survive. to to gain more power in the markeet and increase profits.
- profit: new businesses may need a minimum level to help with survival, or established ones to expand and reinvest, good profits encourage investors to help it grow.
- providing a service: will help the business get a good reputation attracting new customer and repeat purchases, can help survive or profits, can get satisfaction from usefulness.
- survival:for a new business so it can be more established and secure gaining customers then aim to make profit in the longer term.or when theres a economic decline
- business objectives:
Similar Business Studies resources:
Teacher recommended
Comments
No comments have yet been made