IGCSE Bus Chapter 2 Business Objectives booklet

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Draggable item		Corresponding Item
Increase market share		The overall goals a business want to achieve long term focus
Profit maximisation		These are the steps taken to achieve the goals
Values		Specific, measurable, achievable, relevant and time bound
Measurable		Outlines why business exists
SMART Objectives		Core beliefs that the business stand for which guide its behaviour, decisions and action
Dividends		Stating clearly what is to be achieved
Personal satisfaction		An outcome that can be measured in number e.g. % or value
Financial objectives		Stating a period of time e.g. year; month; 5 years
Survival		These enable business to measure its financial performance
Independence & control		This objective is making as much profit as possible given time period
Profit satisficing		Making enough profit to satisfy the needs of the business owners
Non-financial objectives		Share of the profit paid to shareholders in a company
Financial return		How much money returned on investment
Mission statement		Gaining a large amount of the customers than its competitors in the market it operates in
Time bound		Increasing the number of items sold within the business
Sales		This objective is applied when a business starts up 12 months.
Specific		These are objectives that not connected with money
Aim		hese objectives are designed to improve human or environmental well being
Objective		Owners feel happier or satisfied enjoy taking risks seeing idea succeed
Social objectives		Owners want to be their own boss and in control of their future and decisions