1.5.3 business objectives

business objectives include

survival, profit/sales maximisation, market share, cash flow obejctives, cost efficiency, employee welfare, customer satisfaction, social

sales maximisation

achieving the highest amount of sales by volume or by value

sales volume

the amount of sales exoressed as a number of units sold

cash flow

the amount of moeny going into/leaving a business daily

employee welfare

the economic and physical wellbeing of the workforce

why do businesses set objectives

ommon sense of purpose, motivates employees, creates reward systems, measure and review performance, inform decisions to improve performance

a mission statement

a brief written statement of the purpose of a company or organisation