SGS Business 1.3.1 Aims and Objectives

What is an aim?

• A business goal
• SMART
• Measured targets
• Ideas

Which of the following is an example of an aim?

• Downsize the business
• Employ more people
• Make a profit
• Sack people

Which of the following options is NOT a reason why aims are important?

• Helps the business have a vision
• Helps a business focus
• Helps a business
• Helps a business get more staff

What is meant by the 'aim' of a business?

• Long-term vision or goal of the business

• Are more specific steps to achieve the aim; they tend to be S.M.A.R.T

What aim might a new, small business have?

• Profit
• Market Share
• Survive
• Providing a service

New businesses might choose this aim to tempt potential customers to try the products/services they offer...

• Excellent customer service
• Grow the company into Europe

What aim might a computer manufacturer seeing falling sales have?

• Profit
• Growth
• Market Share
• Providing a service

What is meant by the aim - 'survival'?

• Share of the total market for a product or service and is shown as a percentage.

• Where a business makes sure the needs of the customer are being met.

• When a business just manages to keep going. This is typical for new businesses or in a recession.

What aim might a well established international airline facing competition from low-cost airlines have?

• Growth
• Profit
• Market share
• Providing a service

What is the aim of a school?

• Profit

• Provide a service by educating its students

• Market Share

• Survival