setting business aims and objectives

what is an aim

general goal of a business

what is an objectives

specific target that is set for a business to achieve

what is the purpose of setting objectives

helps with decision making

helps investors understand the direction in which the business is going

provides something to compare the results to

motivate employees

what is survival

survival is a business objective which requires the business to be able to continue trading

what is profit maximisation

objective of businesses to achieve largest possible surplus on revenues over expenditures

what is shareholder value

financial benefits received by a companies shareholders and can take the form of rising prices and divendends paid

what is ethical objectives

targets set by the business to help ensure its decisions are morally correct

what are examples of effective objectives

increase profit by 20 percent

when it has to be acheived

who has to acheiive it