Business theme 1 topic 2

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4 Terms

1
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A business aim

A business aim is a general goal for the long-term future.

2
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A Business objective

A business objective is a specific goal for the short-to-medium term to help achieve the businesses long-term aims.

3
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A strategy

A strategy is a medium to long-term plan used to achieve the businesses aims.

4
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Profit maximisation

Profit maximisation is the objective to achieve the highest possible level of profit. It is when the difference between sales revenue and costs is at its greatest.