Please enable JavaScript.

Coggle requires JavaScript to display documents.

business- 1.3 - Coggle Diagram

- - - - for most for- profit businesses maximising profits is their main aim
      - some businesses may sacrifice short term profits in order to maximise profits in the long term
    - - more than half of new businesses in the uk dont survive beyond 5 years
      - survival is therefore one of the biggest short term aims for new businesses
  - - - this objective measures how happy the customers are with the good or service they are receiving from a company
- - - - for lots of firm, one of their key objectives is to grow
      - growth can mean lots of different things- firms can grow sales, grow the number of customer or grow the number of employees
      - companies may also look to expand internationally as well as expanding by introducing different products
      - Dyson for example, started the business by producing vacuum cleaner and have recently expanded into the market for hair dryers and electric cars
    - - market share is the percentage of sales that a company makes relative to all the sales made in that market
      - new companies start with a 0% percent market share, so increasing market share is an important goal for them
      - gaining market share involves stealing or taking customers from competitors or getting new customer to enter the market