Business AS Level

3.1.1 Understanding the nature and purposes of businesses

Why Businesses Exist:

• Create employment
• Create products
• Provide services

The Relationship between mission and objectives:

• Mission Statement- a summary of the aims and values of a company.
• Objectives- commitments that give direction and make the mission statement more quantifiable

Common Business Objectives:

• Survival
• Growth
• Profit maximisation

Why businesses set objectives:

• Motivating to have clear aims to…