Setting Business Aims And Objectives
Muhtasari
Ask two shop owners on the same street what they are trying to do and you can get answers that sound identical and mean completely different things. One says she wants the business to do well. The other says she wants to be selling from three shops by the end of next year, each taking at least 40,000 a month. Only the second of those two women can tell, on any given morning, whether she is winning.
That is the whole of this topic. In this lesson you will separate an aim from an objective and learn the objectives the specification actually names, from survival to shareholder value. You will see why the objectives a business sets depend on its size, its competition and what kind of organisation it is, and why they change as it grows. You will look at what the public sector is trying to achieve instead of profit, at the many ways success can be measured when profit is not the point, at why governments spend public money encouraging people to start businesses at all, and finally at the reasons so many new businesses do not survive their first few years.
Malengo
- What are business aims and objectives?
- Purpose of setting objectives.
- Role of objectives in running a business.
- Changing objectives.
- Public sector objectives.
- Use of objectives in judging success.
- Governments’ role in promoting enterprise.
- Reasons why new businesses can fail.
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Maelezo ya Somo
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Tathmini ya Somo
Hongera kwa kukamilisha somo la Setting Business Aims And Objectives. Sasa kwa kuwa umechunguza dhana na mawazo muhimu, ni wakati wa kuweka ujuzi wako kwa mtihani. Sehemu hii inatoa mazoezi mbalimbali maswali yaliyoundwa ili kuimarisha uelewaji wako na kukusaidia kupima ufahamu wako wa nyenzo.
Utakutana na mchanganyiko wa aina mbalimbali za maswali, ikiwemo maswali ya kuchagua jibu sahihi, maswali ya majibu mafupi, na maswali ya insha. Kila swali limebuniwa kwa umakini ili kupima vipengele tofauti vya maarifa yako na ujuzi wa kufikiri kwa makini.
Tumia sehemu hii ya tathmini kama fursa ya kuimarisha uelewa wako wa mada na kubaini maeneo yoyote ambapo unaweza kuhitaji kusoma zaidi. Usikatishwe tamaa na changamoto zozote utakazokutana nazo; badala yake, zitazame kama fursa za kukua na kuboresha.
- Which one of the following is the most likely objective for a business in its first year of trading? A. Increasing shareholder value B. International expansion C. Profit maximisation D. Survival Answer: D
- Which one of the following might cause a new business to fail? A. Good business management B. Keeping accurate records of cash C. Running out of cash before customers pay D. Setting clear objectives Answer: C
- A business sells 6 million litres of juice in a market where total sales are 40 million litres. What is its market share? A. 6.7% B. 15% C. 24% D. 66.7% Answer: B
- Which one of the following is most likely to be an objective of a public sector organisation? A. Increasing the share price B. Maximising profit for shareholders C. Paying a dividend to owners D. Providing a service to everyone who needs it Answer: D
- Which one of the following best explains the difference between an aim and an objective? A. An aim is set by employees and an objective by the owner B. An aim is a general long-term goal and an objective is a specific measurable target C. An aim applies to the public sector and an objective to the private sector D. An aim must be financial and an objective must not be Answer: B
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