Changes in aims: Business: Pearson (Edexcel): GCSE (9:1)

Market conditions

The factors that affect supply and demand, price and customer expectations and how competitive the market is for a business

Government legislation

Laws that a business has to obey

New market

A new country, product range or type of customer that a business aims to operate with

Productivity

The amount of work produced by a person in a given time

Target market

The market that a business aims to sell its products to

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