Business aims and objectives (OCR GCSE Business): Flashcards
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12 cards from this deck
What does survival mean as a business objective?
What does survival mean as a business objective?
Continue for long period, not just short-term profit
Profit as business objective
Profit as business objective
Maximising profits
Growth as business objective
Growth as business objective
Increasing sales, profit or market share
Market share definition
Market share definition
Amount of market controlled by a company
Providing service as objective - why?
Providing service as objective - why?
Satisfaction & helps customers return
How do objectives help with common goals?
How do objectives help with common goals?
All employees work towards common goal - motivational
How do objectives help measure success?
How do objectives help measure success?
Check if business met objectives for the year
How do objectives improve productivity?
How do objectives improve productivity?
Give employees clear & relevant targets
Why do objectives change as business evolves?
Why do objectives change as business evolves?
Different stages of development
Why else do objectives change?
Why else do objectives change?
Owners have different motivations
Example: New local store objective
Example: New local store objective
Survival
Example: Multinational business objectives
Example: Multinational business objectives
Maximise profits & global domination