2 Suggest Appropriate Aims and Objectives for a Small,...

2 Suggest appropriate aims and objectives for a small, medium and large business. Aim for a small business can Survival, to survive in the market and look for profits. Aim for a medium sized business would be to maximize their profits and growth to expand their current business operations and increase market share. Aims for Large business would be external growth,i.e taking over their competitors in the market. Secondly it would be adding value and quality to their products, and finally providing service to the community in some way, like giving funds to charities and opening up its branches in development area where development is required. Anonymous Introduction When a sole trader sets up they may have some unstated aims or†¦show more content†¦R - Realistic – the objective should be challenging, but it should also be able to be achieved by the resources available. T- Time specific – they have a time limit of when the objective should be achieved, e.g. by the end of the year. The main objectives that a business might have are: Survival – a short term objective, probably for small business just starting out, or when a new firm enters the market or at a time of crisis. Profit maximisation – try to make the most profit possible – most like to be the aim of the owners and shareholders. Profit satisficing – try to make enough profit to keep the owners comfortable – probably the aim of smaller businesses whose owners do not want to work longer hours. Sales growth – where the business tries to make as many sales as possible. This may be because the managers believe that the survival of the business depends on being large. Large businesses can also benefit from economies of scale. A business may find that some of their objectives conflict with one and other: Growth versus profit: for example, achieving higher sales in the short term (e.g. by cutting prices) will reduce short-term profit. Short-term versus long-term: for example, a business may decide to accept lower cash flows in the short-term whilst it invests heavily in new products or plant and equipment. Large investors in the Stock Exchange are often accused of looking too much atShow MoreRelated2 Suggest Appropriate Aims and Objectives for a Small, Medium and Large Business.945 Words   |  4 Pages2 Suggest appropriate aims and objectives for a small, medium and large business. Aim for a small business can Survival, to survive in the market and look for profits. Aim for a medium sized business would be to maximize their profits and growth to expand their current business operations and increase market share. Aims for Large business would be external growth,i.e taking over their competitors in the market. Secondly it would be adding value and quality to their products, and finally providingRead MoreProject Report : 1.smallco Investment Fund1277 Words   |  6 Pagesconcentrates on small Australian Securities Exchange listed companies which are outside of top 100 companies according to market capitalization for the initial investment (Smallco Investment Fund PDS 2014). Style: This fund is under small to medium capitalization value category (Morningstar2014).And it is expected that the fund benefits investors mainly by its capital appreciation and certain income will also be generated (Smallco Investment Fund PDS 2014). Objectives: This fund aims at investingRead MoreDesign and Implementation of Sets of Strategic Human Resource Management Practices 1694 Words   |  7 Pagesprimarily because the concept of fit is still so little understood. Strategic human resource management refers to managing people in organizations proactively, such that it helps a business gain competitive edge. 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