Standard Grade Business Management Unit 1.2

Business Aims

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All Organisations have aims and objectives.

Some can be shared by different types, while others are more suitable for only a few select organisations.

Here are the main aims of organisations:

to survive
to break even
to grow
to make a profit
to maximise profits
to provide a good/service
to raise awareness
to be socially responsible
to help others

Now in among that lot are ones that are specific to Private Sector organisation, Public Sector Organisations and Voluntary Organisations.

Can you sort out which is which?

Mission Statements

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Mission Statements are documents that outline the aims and objectives of the organisation.

Here is the mission statement of Coca-Cola

Entrepreneurs

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An Entrepreneur is a person who brings together the factors of production.
Land, Labour and Capital are the others.

Entrepreneurs are not always the inventor of a product, but rather they:

develop the business idea
raise the finance to help put the product into production.
They are risk takers, as every new venture is not certain to succeed.

You will find out more about famous entrepreneurs like Richard Branson here.