Year 8 Business

what is the definition of a Business Aim?

• A broad statement that the business owner wants to achieve
• A general target the business works towards
• A specific target a business sets

What is a Business Objective?

• A statement the business uses to gain customers
• A specific target the business sets to achieve their aim
• A general Goal a business wants to achieve

What does SMART objectives stand for?

• Specific, Measurable, Agreed, Realistic, Time
• Specific, Measurable, Achievable, Reliable, Time
• Shared,Measurable, Agreed, Responsible, Time
• Specific, Measurable, Available,Realistic, Time

What is the first aim of a business start up by an entrepreneur 

• Growth
• Maximizing Profit
• Survival
• Customer Satisfaction

identify the non- financial aim

• Maximizing Profit margins 
• Ridding the world of poverty
• Surviving the first two years 
• Maximising Sales

Identify financial aims

• Maximizing Profit margins 
• Ridding the world of poverty 
• Protect animals against testing

identify objective of employees

• business growth, reward and promotion.
• job security with good pay and promotion.
• high profit to increase share prices

Doctor: Goods or Service?

• Goods
• Service

iPhone: Goods or Service?

• Goods
• Service

Does this person provide a good or a service?

• good
• service