Aims & Objectives 1: Business: Pearson (Edexcel): GCSE (9:1)

Business Aims

The overall goal, what a business wants to achieve long term

Business Objectives

The things a business does to reach its aims

To Grow

To increase the size of the company, product ranges, staff, premises and revenue

To Survive

To keep the business going, paying costs and operating

To gain Market Share

To gain a bigger percentage of the total market, usually taking it away from competitors

To increase Share Value

To increase the value of the company by making its shares more desirable so their price goes up

To make the most Profit

To have the most money left from revenue after paying costs to distribute to the owners

To do what is Ethically right

To do good and not to harm people or the planet

To Satisfy Customers

To give them the right product or service that meets their needs and wants

SMART

Objectives should be Specific, Measurable, Attainable, Relevant and Time Bound

Specific

Be clear and precise

Measurable

Be able to be graded, judged, or counted

Attainable

Be possible and realistic

Relevant

Be useful and connected with the business aims

Time Bound

Be have a set time or deadline