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Aims and objectives

Aims and objectives

Diagram showing a broad business aim leading to specific objectives, with survival, growth and scaling as possible stages

A business aim is a broad, long-term direction, such as growing the business or earning a living from a stall. A business objective turns the aim into a measurable target with something to count, a required amount of change and a deadline.

1.3 Putting a business idea into practice Lesson

  1. GCSE
  2. /Business
  3. /1.3 Putting a business idea into practice

Step-by-step lessons on Edexcel GCSE Business 1.3 Putting a business idea into practice, covering 1.3.1a Financial aims and objectives, 1.3.1b Non-financial aims and objectives, 1.3.1c Why aims and objectives differ, 1.3.2a Revenue, costs and profit calculations, 1.3.2b Break even and margin of safety, 1.3.2c Interpretation of break even diagrams, 1.3.3a The importance of cash to a business, 1.3.3b The difference between cash and profit, 1.3.3c Cash-flow forecasts: inflows and outflows, 1.3.3d Cash-flow forecasts: net cash flow and balances, 1.3.4a Short-term sources of finance, and 1.3.4b Long-term sources of finance. Each one builds up to exam-style questions. Start by mastering business terminology and the functional areas (marketing, finance, operations, HR) before moving on to the extended, evaluation-heavy questions that carry the most marks.

Lessons