1.3 Business Aims and Objectives

• what is an aim?

  long term
• what is an objective?

  short term
• profit is not the only measure of success:

  -employee engagement

  -brand loyalty

  -awards

  -ethical reputation

  -environmental targets
• what is revenue?

  Income or money generated from the sale of goods or services.
• how is revenue made?

  Sales
• revenue = number of items sold x selling price per item
• what are costs?

  Expenses or expenditures incurred in the production or operation of a business.