Business objectives. All businesses have one or more objective, which they set themselves. A mission statement is a short declaration of what a business is aiming to achieve. The business objectives that most business set are; profit, growth, survival and providing a service.
Not all businesses have profit as an objective; charities and social enterprises are some of these.
Growth is important to a business, as it is a way to raise profit. This is important to public limited companies, as they need growth to pay increased dividends to their shareholders. Growth can take different forms such as: sales growth, increased market share and elimination of competition.
Survival is another business objective. Just keeping the business going can be an achievement; other businesses wouldn’t have this as an objective as they are already more established.
Providing a service is the finial main business objective. The better the service, the more customers it will attract. This is important to a business that sees customer satisfactory as a high priority. Good service means a…