1.3.1 Business aims and objectives GapFill

Aims are the strategic   optimism ambitions faiths goals of a business – for example, to expand – whereas objectives are the more specific steps describing what the business would like to achieve – for example, to increase its market share by 5% in a year. Aims and objectives are normally discussed together, and they describe the goals that a business has.

When a business first starts up, it will have a range of aims and objectives, and these may depend on the   logo type symbol variety of business. For example, the aims and objectives of a shop might be different from those of a car wash or of an e-commerce enterprise which sells second-hand goods online.

Aims and objectives for start-ups fall into two categories: financial and non-financial.

The financial aims and objectives include   being closure survival person, and most start-ups will have this aim for the first year of trading.  This type of objective is perfectly acceptable as the business will not have any historical data on trading patterns, trends or sales to work from.  Another financial aim is to make a   reward gain yield profit or to have a certain level of sales.  For example, a hot tub delivery business may aim to deliver and install one hot tub a week, which means an objective of 52 sales a year.  The objective will help the business to measure and  monitor display improve televise its performance, to make decisions such as taking on more staff or buying a second van, and to  motivate  influence  appeal to attract  the workers.  Other financial aims and objectives include providing financial   well-being security refuge reassurance. This means that the entrepreneur may have left a secure job to start the business, and so now profits may be used to pay the entrepreneur’s own personal bills, such as their mortgage.

As for non-financial aims, a business may have been started to fulfil a social objective by helping the   civic group community population or the planet in some way; for example, by providing ethical or fair trade products.  The business may have been started to give the entrepreneur personal   happiness liking pride satisfaction or even just to challenge them.  Finally, the start-up may have the aims and objectives of giving the entrepreneur  disinterest objectivity impartialityindependence and control by allowing them to be their own boss.