different types of business objectives

profit objectives

growth objectives

survival objectives

cash flow objectives

business making a loss may aim to become profitable

profitable businesses may just want to increase their profits by a certain percentage

the larger a business grows the more it is able to use its position in the market to earn higher profits

can be based on increasing revenue, market share, or expanding a business

a business can continue to trade, rather than running out of money or being forced to exit the market

main objective for new business

key objective during periods of strong competition

money that moves in and out of a business over a set period of time

cash flow objectives = to improve cash flow

increased cash flow = greater chance of survival

social objectives

benefiting society or people in need

moral principals

non profit organisations (charities) set up to achieve social or ethical objectives

long term objectives

set the direction of a business

affect big decisions

short term objectives

ie- short term survival and making short term profit

to satisfy shareholders, business have to go for short term profits or risk losing investors

needs to be a good balance between short and long term objectives

Specific, Measurable, Agreed, Realistic, Timely

MISSIONS. AIMS. OBJECTIVES.