Why aims and objectives differ between businesses

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

  To give businesses goals or targets
• How do financial and non-financial objectives differ?

  Financial objectives focus on money, non-financial do not
• What is the difference between business aims and objectives?

  • Business aim: overall target or goal
  • Business objectives: steps to achieve aims
• Why do aims and objectives differ between businesses?

  Because businesses operate in different sectors
• What does the term 'sector' refer to in business?

  The type of goods or services provided
• How might a restaurant's aim differ from a florist's aim?

  A restaurant aims to sell food varieties
• How does business size impact aims and objectives?

  Smaller businesses may aim for survival
• What might a new business aim for?

  Survival
• What is a common aim for an established business?

  To aim for profit
• What might small businesses focus on regarding their objectives?

  Expanding and increasing operations
• What is the definition of profit in business?

  The amount made after expenses
• How do the aims of a new business compare to those of an established business?

  New businesses aim for survival, established for profit
• What factors influence the aims and objectives of a business?

  • Sector of operation
  • Size and scale of the business