Aims and Objectives

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Aims

Objectives

Strategies

Targets

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Influences of Objectives

These can be both Internal and external and can effect the business in many different ways

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External Influences

Market-
What is the competition doing?
Trying to ensure you can compete with your competition.
Ensuring that buyers want it.
Ensuring that the price is right for your buyers

Companies such as Coca Cola dictate the market meaning that they influence others on price rather that others dictating them.

Technology-
Social media and the internet influence where and how you can sell your product

Economic Factors-Changes in the economy can change objectives and how they can be achieved

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Internal Influences

Corporate Objectives-
Under this comes things like operational objectives

Finance-
How much money the business has will restrict what objectives they can make and complete where the finance is coming from

HR- Finding people with the necessary skills, hiring those with the right skills
Shortages in workers
Ensuring that there is people with the right skills- technical help avaliable

Nature of the Product-
What is the product like?
What the product offers
Brand Image

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Scale, how big?

Economies of Scale-
Technical Economies
Specialisation Economies
Purchising Economies

Diseconomies of Scale-
Large businesses don't share information as effectively, which means communication can be lost

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