business aim and objectives

• Business Aims

  • Grow ideally in the country where they were set up
  • Expand into other countries
  • Maximize Profit
  • Increase Shareholder Value
  • Increase Market Share
  • Do What's Right Socially and Ethically
  • Achieve Customer Satisfaction
• Market Share

  What percentage of a market's total sales a particular product or company has made
• A business has zero market share

  One of its first aims is to gain a part of the market and establish a foothold
• A business wants to increase its market share

  It can do this by taking sales from competition, or by persuading new customers to enter the market and buy its products
• Some businesses aim to make sure they are acting in ways that are best for society and that society believes are only right (e.g. many consumers think that it's wrong to test cosmetics on animals)
• Businesses may also want to make sure their activities do not cause unnecessary harm to the environment
• Customer Satisfaction


  Measures how happy consumers are with the products provided by the firm
• Firms can measure customer satisfaction by carrying out customer opinion surveys, a type of market research
• Objectives


  • More specific than aims, they're measurable steps on the way to the aim
  • Once objectives have been set they act as clear targets for firms to work towards
  • They can then be used later to measure whether a firm has been successful or not
• Survival is also the main aim during exam time