Setting Business Aims & Objectives - Lesson

A full lesson delivered in a way to ensure student understanding.

This lesson will meet the following learning objectives:

• To understand the main aims and objectives for businesses including: survival, profit maximisation, growth (domestic and international), market share, customer satisfaction, social and ethical objectives and shareholder value.
• Understand the role of objectives in running a business and they are used
• Understand how and why the objectives set will differ between businesses (reasons include the size of the business, level of competition faced and type of business (not-for-profit organisations))
• Understand how and why the objectives set may change as businesses evolve. Students should consider how the objectives of larger more established businesses might differ from smaller start-up businesses, e.g. becoming the dominant business in the market, international expansion, increasing shareholder value and ethical / environmental considerations
• Understand that the success of a business can be measured in other ways than profit.