3.1.3 Setting Business Aims and Objectives
- understand the main aims and objectives for businesses: survival, profit maximisation, growth (domestic and international), market share, customer satisfaction, social and ethical objectives and shareholder value
- understand the role of objectives in running a business
- understand how and why the objectives set will differ between businesses (reasons include the size of the business, level of competition faced and type of business (not-for-profit organisations))
- understand how and why the objectives set may change as businesses evolve. Students should consider how the objectives of larger more established businesses might differ from smaller start-up businesses, eg becoming the dominant business in the market, international expansion, increasing shareholder value and ethical and environmental considerations
- understand the success of a business can be measured in other ways than profit
Tutor2U - Aims and Objectives of a Business GCSE - Recap : Aim or Objective
Guardian article On The High Street - Video : Starbucks wakes up to China - Sky's Environment Webpage - Yahoo's Finance Webpage - BBC article on Playstation VR competition - Telegraph article on Yoodoodoll
Dragon's Den clip on Youdoodoll
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Video on ethical buying featuring Lush
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pestle_example.pdf | |
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Business Objectives
Use the link below for a worksheet on Business Objectives.
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