Start Up Business Goals

1270 Words6 Pages
Defining the vision of the business and determining the goals in order to achieve the vision are two simple but essential strategies a starting business can undertake. The vision of a business refers to how it sees itself focusing on in the future. A vision, in a similar sense is an aim. To fulfill its vision, it must establish a set of goals or as they are called in this report, objectives which will gradually lead a starting business to making the vision a reality. Aim The aims of a business are the longstanding vision, ambitions and goals a business strives to reach in its existence. In contrast to the objectives of a business, the aim of a business is a general portraiture of what it hopes to reach for in the long run throughout. It does…show more content…
Survival is crucial for a starting business because not all business start-ups continue to persevere after its conception. It is at this stage when businesses are vulnerable and when they critically evaluate themselves if the purpose of starting up a business is practical or not. Survival for a start-up business means that it is independent – it sustains itself with its own resources. Profit and break-even is another likely aim because starting a business involves bearing substantial amounts of costs there is for any business at its launch. Starting businesses aim to make as much profit as possible or at least break-even (neither make a profit or a loss) to ensure that they cover all the…show more content…
Because businesses belong to different sectors, this suggests that their purpose, aims and objectives are also different. The aims and objectives of a business are closely related to its purpose. For example, private sector businesses such as retailers, manufacturers and banks, whose main general purpose is to make a profit and provide goods and services, look forward to achieving aims primarily such as earning profit and maximizing profits, attaining break-even, and achieving market share expansion. A business will achieve the aforementioned aims most likely by setting objectives for them like increasing number of customers and sales, reducing its cost and improving the quality of the product it sells. Public sector businesses such as state schools, government departments and NHS hospitals to be particular exist to provide a quality service to the community below cost price or free of charge. With this purpose, the aims they would want to focus on are to achieve break-even that is operate within the budget and enhance the quality of services they provide. These aims would be more likely achievable by keeping their costs low, and meeting and satisfying their customer targets
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