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Published byJordan Douglas Modified over 9 years ago
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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.
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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
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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
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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
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Personal Goals Self esteem & status Controlling work environment Job security Professional recognition, power, influence, respect. Contribution to community Lifestyle
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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.
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