Aims and objectives

Aims and objectives

1. What are aims? Aims are what you want to achieve.

2. What are objectives? An objective is how you are going to achieve it, what you will do to achieve is and when you will achieve it by (date/time)

3. What does maximising profits mean? Maximising profits means to make the most profit possible. There are many things you can do maximise profits like increasing the prices. For example buying 100 Kit Kats for £50 but selling them for £150 means you are earning more profits from sales.

4. Definition of breaking even: Breaking even means that the total amount of money received from sales, equals the total cost. Example: Selling something for 50p and receiving 50p back from sales.

5. Survival in business means keeping your business up and running without getting into debts or becoming bankrupt and end up having to close down you business.

6. Non financial aims are aims that are to do with the business but not to do with the income of the money. For example becoming company of the year is a non financial aim.

7. Market share is the percentage or proportion of people going for your product. You can do this by advertising, getting a sponsor and making new products to create more customer interest.

8. Market growth is expanding the business for example making it more known by advertising or opening/building more businesses.