In this episode we discuss the primary goals and targets of businesses. It differentiates between aims, the ultimate purposes, and objectives, the steps to achieve those aims.
Key aims include survival, profit maximization, and growth, which encompasses increasing sales, customer base, and international expansion. Objectives also involve boosting market share, maximizing shareholder value, maintaining social and ethical responsibility, and ensuring customer satisfaction.
These factors collectively influence a business's performance and long-term success.
Don't miss out on subscribing for more educational content tailored to help you succeed in your exams. Perfect for AQA, OCR, Edexcel, CIE and WJEC exam boards.