Give an example of an aim and a matching objective for a new café.

Aims and SMART objectives, financial aims from survival to market share, non-financial aims such as social goals and independence, and why objectives differ between businesses.

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Key term

Give three reasons why aims and objectives differ between businesses.

Key term

What is a business aim?

Key term

What is a business objective?

Questions from this subtopic

Each one with the model answer underneath.

1
What is a business aim?
Model answer
A business aim is a broad, long-term goal that states what the business wants to achieve. An aim sets the overall direction of the business.
2
What is a business objective?
Model answer
A business objective is a specific, measurable target that helps a business achieve its aim. An objective usually has a deadline.
3
Give an example of an aim and a matching objective for a new café.
Model answer
A suitable aim is to become the most popular café in town. A matching objective is to serve 200 customers a day within its first year.
4
Why are objectives often written to be SMART?
Model answer
SMART objectives are specific, measurable, achievable, realistic and time-bound. A SMART target lets the owner check clearly whether it has been met.
5
Name the five financial aims and objectives a start-up may have.
Model answer
The five financial aims are survival, profit, sales, market share and financial security.
6
Why is survival the main objective for most new businesses?
Model answer
Many start-ups close in their first years because of weak sales or cash shortages. A business must survive before it can grow or make large profits.

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