Aims and objectives

• Aim is a broad target or goal set by the businesses for the long term an example of an aim is to become the number one seller
• An objective is a specific target or goal set by the business in the short to medium term to help to achieve the aim
• Profit maximisation is a very common aim for the business as the more profit a business makes the more capital is available in order to grow and expand
• Profit max helps to keep the business to survive as the more money a firm has the better it is able to deal with any large expenses it faces
• In order to maximise profits firms need to reduce costs to a minimum or increase sales revenue to the max