Business aims and objectives

• The business environment is the external factors that affect how businesses operate.
• Stakeholder 


  individual or organisation who has vested interest in the activity and decision making of a business
• Stakeholders

  Have interest in business

  don’t own it

  may work for or otherwise transact with business
• Profit

  Revenue - cost
• Shareholders

  Only have value for the success of the business

  They either work or own the business
• Place

  how and where the supplier is going to get the product or service to the consumer; it includes selling products to retailers and getting the products displayed in prominent positions.
• How does the size of the business affest the aims and objectives of a business?

  Larger business may aim for growth and expansion whilst smaller businesses may focus on survival and revenue
• How does the level of competition affect the businessse aims and objectives

  A high concentration may lead to a business to concentrate on survival or increasing sales while low competition allows the business to think more strategic objectives like market expansion and innovation
• How does the type of business affect the aims and objectives of a business

  A business focusing on making profit will focus on sales, revenue and costs whereas a business like a charity would focus more on the people and the cause rather than the profit. However a high end business would need to have a steady profit as they would have to expand and develop their business