An aim is where the business wants to go in the future.
It is a statement of intent, e.g. we want to rapidly grow the business.
Business objectives are the stated, measurable targets of how to achieve business aims.
For instance, we want to open 30 new branches by 2018.
A) Survival
This is particularly important to a new business start up seeking to build a customer base.
However.... there are times when an existing business may face challenges.
- An economic downturn or recession.
- Changes in consumer demand
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- Competition
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B) Profit maximisation
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C) Other objectives:
- Sales maximisation
- Market share
- Cost efficiency
- Employee welfare
- Customer satisfaction
- Social objectives
