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Changes in aims and objectives : - Coggle Diagram
Changes in aims and objectives :
why aims and objectives can change?
Aims and objectives can change as the business evolves
Reasons for this can include: market conditions may change, A business may wish to use more technology, The law may change, The business may be performing poorly and the business may have internal reasons for change
Positive= provide benchmarks and targets to aim for and performance indicators
Negatives= stress and pressure
Changes in market conditions
Market conditions may change as a result of=changes in the economy such as a fall in general income level
changes in consumers life style and leisure choices
changes in demand as a result of trends or fashion
single households have increased over recent decades
Technology
Businesses are keen to use new technology to improve their products performance and gain a competitive edge
examples= improved safety feature in cars such as parking aids
Better textile materials such as breathable fabrics
Improved communications through microchip connectively
Business performance
If a business is performing poorly it may not be able to compete effectively and may not survive
Legislation
Changes in the law may affect the way business operate and can impact on cost
Internal reasons