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Business

GCSE · Edexcel

QuestionsFlashcards

2.1 Growing the Business
2.2 Making Marketing Decisions
2.3 Making Operational Decisions
2.4 Making Financial Decisions
- Business Calculations
  6
- Understanding Business Performance
  8
2.5 Making Human Resource Decisions

3.1 The Exam Papers
- Paper 1: Investigating Small Business
  6
- Paper 2: Building a Business
  6
3.2 Business Exam Skills
3.3 Structuring Your Responses

Business Aims & Objectives Flashcards

All 6 cards in this deck

What is a business aim?: A long-term goal that a business wants to achieve.
What is a business objective?: A specific, measurable target set to help the business achieve its aim.
Name the five financial aims and objectives a start-up might have.: Survival, profit, sales, market share and financial security.
Name four non-financial aims and objectives a start-up might have.: Social objectives, personal satisfaction, challenge, and independence and control.
True or false? All small businesses have the same aims and objectives.: False. Aims and objectives differ with the size and type of business, the owner's personal motives, the market and how long the business has been trading.
What does 'independence and control' mean as a non-financial objective?: The owner wants to be their own boss and make all the decisions.
e.g. it may lead them to use personal savings rather than take on outside investors.