Posts published in “BUSINESS MANAGEMENT”

Profit satisficing means aiming to achieve enough profit in order to live a comfortable life and keep the owners happy.

The business grows when sales or value of output increases. The company must grow in order to survive, and the growth is usually considered a good thing.

Survival is likely to be the key objective of most new business start-ups. Survival as a business objective is a short-term goal.

In order to make setting objectives clear and effective, businesses often use ‘SMART’ criteria.

Any business organization, both small, medium and large, have established own mission statements. How useful these mission statements really are?

Vision statement and mission statement are very often confused. The main differences between them include the following aspects.

A mission statement is a statement of the business’s core aims, short description of the business’s overall goals and its broad short term and long-term objectives.

A company vision statement outlines an organization’s aspirations - where it wants to be in the distant future and what its commercial success would look like.

Business tactics are the daily actions required to achieve the business objectives. Business tactics are day-to-day activities of a business.

Business strategies are long-term pattern of decisions (the plans of action) that are taken to achieve the business objectives.

Business objectives are more specific quantitative goals of the business organization - measurable outcomes expressed in numbers.

The business aim is the general and long-term goal of an organization, the central core purpose of its business activity.

There is a strong relationship between the business aim, business objectives, business strategies and business tactics. Let's take a look.

This article focuses on the importance of business objectives for every business, different forms of business objectives, etc.