business objectives

• non financial aims and objectives

  social objectives

  personal satisfaction

  challenge

  independence

  control
• financial aims and objectives

  survival

  profit

  sales

  market share

  financial security
• profit- how to find out

  
  

  total revenue - total costs
• survival- financial aims and objectives

  refers to keeping the business operating for a certain amount of time
• profit- financial aims and objectives

  business usually aim to make a profit within the first two years so that their owners receive a financial return
• sales- financial aims and objectives

  a business will set a target for how much it'll sell each month any year. higher sales can bring benefits such as a higher public profile
• increased market share- financial aims and objectives

  a business with a larger share of the market can exercise greater levels of dominance
• financial security- financial aims and objectives

  relates to a business being able to afford to pay off all it's costs and have enough cash to survive
• social objectives-non financial

   having a business whose sole purpose is to meet a social need. linked to doing things in an ethical or environmentally friendly manner
• personal satisfaction -non financial

  relates to an entrepreneur feeling satisfaction that they have created a successful business
• challenge-non financial

  relates to an entrepreneur setting up a business with the intention that making it successful will be challenging
• control-non financial

  relates to an entrepreneurs goal of being able to control the business and make decisions on how it's run. may include decisions like what to sell, where to buy raw materials, how much to sell the good / service for
• independance-non financial

  relates to an entrepreneur working for themselves and running their own business. also includes making key business decisions