the purpose of the business, the size, and ownership
2 of 10
Name 3 main aims of a business
growth, survival, break-even
3 of 10
give 2 examples of a mission statement
to enrich peoples lives with lives with excellent quality services, to create value for customers to earn lifetime loyalty
4 of 10
define: an objective
targets to help businesses achieve their overall aim
5 of 10
define: a smart objective
1) specific - set out clearly what its trying to achieve 2) measurable - to asses growth or failure 3) achievable - unachievable objectives are ignored 4) realistic - are the resources available? 5) time bound - setting a deadline
6 of 10
give an example of an objective
1) to increase profits by the end of the financial year by £1,000 through cost reductions
7 of 10
Whats a typical aim and objective for a not for profit organisation
1) to provide a service (aim) 2) increase revenue (objective)
8 of 10
aims are important because?
1) highlight key areas of development, help a business focus upon that area
9 of 10
objectives are helpful because?
1) break down aims into manageable chunks 2) the responsibilty can be shared - workers feel a part of a team
10 of 10
Other cards in this set
Card 2
Front
what should a business's aim be
Back
the purpose of the business, the size, and ownership
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