business
- Created by: katier1234
- Created on: 12-11-19 21:37
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- Business Aims and Objectives
- Business Aims – Long term goals of what a business wants to achieve in the future
- Business Objectives – Short term targets to achieve the aims.
- Survival – Aim of new businesses. Must breakeven (ensure all costs are covered but make neither a profit nor a loss).
- Financial – Breakeven, Increase/Maximise Revenues (money coming in from sale of goods or services), Reduce Costs, Make a Profit (for a small business this will be the owners salary, for a company it will be divided up as dividends to the shareholders)
- Growth – Increase Market Share, Open more stores/offices. Benefits of growing include: Economies of Scale (cost advantage eg. discounts on bulk purchases), be able to raise more finance, spread the risk.
- Improve Reputation – eg. providing better customer service so you stand out from the competition
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