Business objectives

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    Business objectives

     

     

    • Survival
    • Profit maximisation – costs as low as possible or prices as high as possible; skim pricing = AID GROWTH
    • Sales maximisation – raise profit = more output allowing larger market share.
    • Market share – common objective for large businesses. Increase revenue and profits as raised output = lower unit costs
    • Cost efficiency – lower costs = higher profit margins giving business room for competitive advantage. Other methods: delayer, new cheaper supplier, recycle
    • Customer satisfaction – loyalty
    • Social objectives

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