Business aims and objectives

What is a business aim?

• how to increase sales

• the difference between sales and profit

• where the business wants to go in the future

• to establish a purchasing function

What are business objectives?

• ways that businesses will grow their customer database in line with inflation

• Objectives are defined by government policy

• Business objectives are set only by looking at results from the previous year

• stated, measurable targets of how business can achieve business aims

A business objective is a long term goal?

• True

• False

Which of the following is NOT a main private business aim?

• Growth

• Helping people

• Breakeven

• Make a profit

Which of the following is NOT typical of a not for profit business aim?

• Meeting government standards

• Providing a service

• Helping people

• Raise awareness of an issue

Price and quality are main considerations for business aims in the public sector?

• True

• False

Business aims are long term goals?

• True

• False

Market leadership is a main business aim for private businesses?

• True

• False

Which of the following is a main consideration for private businesses?

• Meeting government standards

• Impact on services

• Making a profit

• Cost Control

Business objectives are different across private, public and not for profit businesses?

• True

• False