Flashcards in UB T3 Objectives Deck (9)
Making as much profit as possible
Avoiding going out of business
Aiming for a satisfactory result rather than the best.
Provide a quality service
Aims to provide a quality service:
to get customers back (Private Sector)
to satisfy needs and improve the standard of living (Public Sector)
to provide a quality service (Third Sector)
Increasing Market Share
Aims to improve their product/service to ensure customers return.
Market share is the percentage of total sales in a market that a business has. Business with most sales is the market leader.
Working within a budget
For the private sector this will maximise profits, but for public and third sector it is vital as they only have very little.
Aims to sell as many products as possible, even if that means lowering the price.
Corporate social responsibility
Aiming to act in an ethical way or in any way that benefits either society or the environment