Business and social objectives, the objectives of different organisations, stakeholders, their interests and conflicts.
Business objectives
An objective is a target a business works towards. Common objectives:
Survival — especially when starting up or in a recession.
Profit — a reward for the owners and a source of finance for growth.
Growth — to increase market share, gain economies of scale and reduce risk.
Market share — selling more as a proportion of the total market.
Customer satisfaction / service — to gain loyalty and repeat business.
Social objectives — being ethical and helping the community/environment.
Objectives often change as a business develops: a start-up focuses on survival, an established firm on profit and growth.
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