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Business aims

What a business hopes to achieve. They are generally broad statements of intent, usually expressed in vague terms, with no time-scale, or precise target that can easily be measured. (Objectives on the other hand, should be far more specific and clearly state what needs to be done in order to achieve the organisation’s aims – see business objectives). The most common commercial business aims concern: Return on investment, profit or sales maximisation; Growth and expansion; Market share, market leadership / domination, ‘Being the Best’; Customer satisfaction, customer loyalty; Quality and value for money. Other aims may also concern image and social responsibility. Indeed, the aims of public sector organisations, and non-profit making organisations in the private sector, are far more socially and community oriented as their overall purpose is to provide protection, support and assistance to the less advantaged, such as, the old, young, sick, poor, or unemployed. Like private sector organisations, however, such organisations still have obligations to their owners and stakeholders to be efficient and offer value.

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