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OBJECTIVES_ BUSSYNESS, Cost efficiency: Aims to make up most of the costs…
OBJECTIVES_ BUSSYNESS
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survival - establishing a base with customers and finding a place in the market within their first year.
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This would be set in a competitive market where consumer switch constantly between suppliers (supermarket)
This may not mean much profit in the first instance, but when the business starts to grow it will able to comfortably raise prices to the optimal level
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Investors would have to judge how a business is doing against it's competitors loss in market share can be an indicator
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Cost efficiency: Aims to make up most of the costs spent (70%) - mainly in transport and construction industries. This involves paying minimum wage to unskilled workers and lowering price and quality
Cost efficiency: Aims to make up most of the costs spent (70%) - mainly in transport and construction industries. This involves paying minimum wage to unskilled workers and lowering price and quality
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