Non-financial aims and objectives

• What is the purpose of aims and objectives in business?

  To give goals or targets to achieve
• How do financial aims differ from non-financial aims?

  Financial aims focus on monetary gains
• What is the difference between business aims and objectives?

  • Business aims: overall target or goal
  • Business objectives: steps to achieve aims
• What is a non-financial aim in business?

  Linked to anything other than making money
• What is an entrepreneur?

  A calculated risk-taker who starts a business
• What are social objectives in business?

  Linked to ethical or environmentally friendly practices
• How might an entrepreneur demonstrate social responsibility?

  By providing sustainably sourced products
• What does personal satisfaction mean for an entrepreneur?

  Feeling satisfaction from creating a successful business
• What does the challenge aim refer to in entrepreneurship?

  Setting up a business to challenge oneself
• What does control mean for an entrepreneur?

  Ability to make decisions about the business
• What does independence mean for an entrepreneur?

  Working for oneself and making key decisions
• What are the non-financial aims and objectives of a business?

  • Social objectives: ethical practices
  • Personal satisfaction: successful business creation
  • Challenge: personal growth through business
  • Control: decision-making authority
  • Independence: self-employment and autonomy