business aims and objectives

• • an objective is a goal you set to get to your aims
• • financial aims and objectives of a business start up
  • survival
  • profit
  • sales
  • market share
  • financial security
• survival


  bringing enough cash to pay the bills is needed
• profit


  more money earned than spent helps to get rich or pay bills
• sales


  Generating sales without worrying about profit initially is common in online start ups
• market share


  increased market share means greater power over suppliers and customers

  meaning-the percentage of a market held by one company or brand
• financial security


  business should have sufficient cash to cover any debts thus having financial security for business where and the whole firm
• market share is


  the percentage of a market held by one company or brand
• Non financial aims and objectives of a business start up

  • social objectives
  • Personal satisfaction
  • Challenge
  • Independence
  • Control
• Social objectives


  main intention of improving society in some way e.g co-op or John Lewis
• personal satisfaction


  sense of satisfaction in having your own business and not working for someone else
• challenge


  starting a business is a challenge for driven people who want that success
• independence 


  being your own boss for people.
• control


  chance to have control over their own destiny by doing the business themselves
• • why do business aims and objectives differ between businesses
  • owners differ and they start businesses for different reasons
  • some want to get rich, some want to improve society
  • differing beliefs in how to run a successful business
  • some think to grow fast, some think growing slowly is better
• Business objectives are (SMART):

  S-specific

  M-measurable

  A-achievable

  R-realistic

  T-time-bound
• aim-a general statement to where your heading to-"to get to uni"
• Objective- a clear measurable goal, so success or failure is clear to see.