understanding the nature and purpose of a business

  • Created by: finleyyy
  • Created on: 28-01-20 09:49

Why do businesses exist?

  • Entrepreneurs
  • Society
  • Consumers
  • To make Profit
  • To give Service
  • To fulfil Needs and wants
  • To achieve Objectives

Mission statement- an organisations long-term intentions. Qualitative statement of its overall purpose. Motivates and guides.

Business objectives- designed to enable a business to achieve its aims or mission. they can corporate or functional/departmental (corporate is the whole organisation whereas functional/departmental is individual segments or departments).

Why set aims and objectives?

  • To give…


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