Business Goals People who lead or control businesses usually have a range of goals for the business. They could be general goals such as producing a high quality product or be very specific short term and long term goals such as the ones outlined.

Financial Goals  Breaking even: surviving, covering costs  Making a profit: The main aim of most businesses is to make a profit for owners and shareholders. It is gaining a return on the investment and risk involved.  Product Sales and Market Share. Market share is the % of total sales of a product, in a given market, during a set period of time

 Product Sales and Market Share: Market share is the % of total sales of a product, in a given market, during a set period of time.  Growth and diversification: Increasing output and efficiency. Producing more spreads costs across production making costs lower. Buying raw materials in bulk, invest in R & D, moving into different areas of production eg. CSR sugar refining moved into building materials

Social Goals  Providing employment: Career paths and income for community members  Providing Services: such as health care, child care.  Social Justice: Providing opportunities for those that are disadvantaged  Environmental sustainability: Production processes and goods that minimise environmental damage

Personal Goals  Self esteem & status  Controlling work environment  Job security  Professional recognition, power, influence, respect.  Contribution to community  Lifestyle

Conflicting goals  Some goals may conflict with each other eg. A business owner may be able to operate a business cheaply in one place, which may be far away from where she lives. A financial goal may give way to a personal goal such as lifestyle.  Some goals may conflict in a way that brings about ethical issues eg. A production method which is profitable but leads to environmental damage of putting off workers.