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Business Objectives

Different businesses have different objectives. Objectives are aims or targets to work towards. These objectives can be summarised as

  • Maximise profit: Common for business owned by private individuals. It involves improving profit margins, improving the rate of return on investment
  • Grow or expand: It involves increasing the operations of the business, expanding to other regions or countries, gaining the market share.
  • Survival: especially relevant for new businesses 
  • Provide a service: especially for public sector businesses whose main objective is to provide services, create employment and welfare of the general public
  • To increase added value: Many businesses want to add more value to their products.

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