Business aims and objectives

Mind Map by , created about 6 years ago

GSCE ICT (Chapter 2 Business aims and objectives) Mind Map on Business aims and objectives, created by miafurner on 09/10/2013.

Created by miafurner about 6 years ago
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Business aims and objectives
1 What is a mission statement?
1.1 A small paragraph about why the company are there and what they want to get out of it.
2 What are aims?
2.1 What the business wants to achieve
2.1.1 eg: Maximise profits
3 What are objectives?
3.1 How to achieve the businesses aim: usually a time frame and a financial figure.
3.1.1 Raise the profits by 10% by next year.
4 What is maximising profits?
4.1 Methods to bring in more money to the business like; raising prices and selling more products.
5 What is maximising market share?
5.1 Maximising the amount of people who want to buy from your company.
5.1.1 e.g: Advertising because more people will know about the company and their products so it will increase sales and reputation.
6 What is survival?
6.1 Keeping the business running successfully.
7 What is breaking even?
7.1 When they only cover their own costs - they don't earn profit or lose money.
8 What is market growth?
8.1 Growing the business by introducing more products and selling products in other countries.
9 What are non-financial aims?
9.1 Where it doesn't involve money. eg: Employ better staff.

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