Business (Theme 2.1.2)

• What are the five reasons why businesses may change their aims and objectives as they evolve?

  Market conditions, technology, legislation, performance, internal reasons
• How do business aims and objectives change as businesses evolve?

  -Focus on survival or growth

  -Entering or exiting markets

  -growing or reducing workforces

  -increasing or decreasing product range
• What does it mean for a business to focus on survival?

  It means prioritizing stability and continuity in challenging market conditions
• What might a business do when entering a new market?

  They may grow their workforce to meet new demands
• What could a business do when exiting a market?

  They may reduce their workforce to cut costs
• How might a business change its product range when evolving?

  They may increase or decrease the variety of products offered
• What are the key changes of aims and objectives businesses may make as they evolve?

  • Focus on survival or growth
  • Entering or exiting markets
  • Growing or reducing workforce
  • Increasing or decreasing product range