Business Studies- Objectives 3.0 / 5 based on 2 ratings ? Business StudiesBusiness ObjectivesASOCR Created by: AshleyGravesVGCCreated on: 05-03-15 10:05 What are the 3 main business objectives? Growth, Survival and Profit 1 of 11 When is the objective, Survival been used? When a business is threatened (in the early stages of business, when trading is difficult or when there is a threat of takeover) 2 of 11 Why is survival not always an objective of every business? Not every business aims to achieve long-term survival 3 of 11 What is growth seen as by businesses? It is seen as necessary to survive in the market 4 of 11 What is an advantage of Growth? Better economies of scale 5 of 11 What are S.M.A.R.T targets? Smart, Measurable, Achievable, Realistic and Timely 6 of 11 Define Corporate Objectives An objective in which the business aims to achieve overall 7 of 11 What is a Mission Statement? A short, simple description of what the business aims to achieve 8 of 11 What is a Strategic Objective? A long-term objective in which the business aims to achieve 9 of 11 What is a Tactical Objective? A short-term objective in which the business aims to use to help meet the strategic objectives 10 of 11 What is a Functional Objective? A specific objective set out by the business to help meet Strategic Objectives (e.g. 20% increase in sales by 2016) 11 of 11
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