Business Objectives

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Created by
Niamh

Cards (3)

  • Business Objectives
    Businesses in all sectors aim to:
    • Provide a good quality service
    • To be more socially responsible
  • Business Objectives - Satisficing
    This refers to aiming for a satisfactory result which is sufficient to keep all stakeholders satisfied. For example, shareholders are happy with the level of profit being made and employees are happy with their pay and conditions.
  • Business Objectives - Managerial Objectives
    In very large organisations, there will be many mangers within the business who may be pursuing their own individual aims which will ultimately benefit the business as a whole. A manager may work hard on a project to expand into new markets because of the rewards and prestige. A success in the projects will bring an increase in sales and market share to the organisation.