A short-term objective that is set by a business that is just starting out, entering a new market or going through financial hardship.
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Profit Maximisation
Where businesses set making as much profit as possible as one of their objectives.
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Growth
Where businesses focus on growing as a business and making a large amount of sales. Businesses do this to become a large business and bring in a large amount of consumers.
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Breakeven
The amount of sales/profit that are needed to be made to cover the costs of materials and services that were used to produce the company's products.
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Service Provision
Where businesses perform a task for consumers that requires their assistant in exchange for an reasonable price. These businesses will tend to have qualified staff on hand all of the time. For example, Southern Electric.
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Cost Limitation
Where businesses have a limitation on how high and low they can set the price of a particular product.
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Value For Money
A set of legislations that businesses have to follow when considering the quality of their products and how well they sell to the consumers.
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Meeting Government Standards
Where businesses have to reach a certain level of standards set by the government when purchasing and selling their products.
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Growth of Range of Provision
How a company has grown in terms of their annual earnings and how many sales they have made in a year.
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Other cards in this set
Card 2
Front
Where businesses set making as much profit as possible as one of their objectives.
Back
Profit Maximisation
Card 3
Front
Where businesses focus on growing as a business and making a large amount of sales. Businesses do this to become a large business and bring in a large amount of consumers.
Back
Card 4
Front
The amount of sales/profit that are needed to be made to cover the costs of materials and services that were used to produce the company's products.
Back
Card 5
Front
Where businesses perform a task for consumers that requires their assistant in exchange for an reasonable price. These businesses will tend to have qualified staff on hand all of the time. For example, Southern Electric.
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