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Before growth there are most important objectives for a business, first at all to make profits maximisation, business survival.So to be survived on the market,it will have to lower its prices of the products even though it will have a lower profits.
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How business environment affect the Trend and pattern of industrial growth?
The business environment has a direct impact on the trend and pattern of industrial growth. Changes in the business environment can cause shifts in the competitive landscape the availability of resources consumer spending patterns and other factors that influence the growth trajectory of an industry. Here are some of the ways in which the business environment affects industrial growth: Changes in consumer spending: An increase or decrease in consumer demand for goods or services can cause a shift in industrial growth. For example an increase in consumer spending on health care services may lead to an increase in the growth of the health care industry. Changes in regulatory environment: Changes in the regulatory environment can also impact the growth trajectory of an industry. For example an increase in the number of regulations related to the banking industry may lead to slower growth in the sector. Availability of resources: The availability of resources such as raw materials labor capital and technology can also affect industrial growth. An increase in the availability of resources may lead to an increase in the growth of an industry while a decrease in the availability of resources may lead to a decrease in the growth of an industry. Technological advances: Technological advances can have a significant impact on industrial growth. The introduction of new technologies can lead to increased efficiency improved quality of goods and services and lower production costs which can all contribute to the growth of an industry.Overall the business environment has a direct impact on the trend and pattern of industrial growth. Changes in the business environment can cause shifts in the availability of resources consumer spending patterns and other factors that influence the growth trajectory of an industry.
Why the government influence the growth of firms?
Governments seek to influence business to ensure that they are following regulations. If they are not, the government may fine them.
Why a sole trader have to take partner?
A sole trader may take on a partner if he decides to expand his business. Say if a sole trader in electronics believes that there is room in his business for growth and wants to expand but is not sure what to do, then he may go out and look for a partner to help him expand and run the business with him. Partnerships share both the profits and losses with each other whilst running the business.
What is social cost benefit analysis why is it important?
Social cost benefit analysis means that a business assesses the social ramifications of a business decision before doing it. It is good for business, so that they can plan to mitigate the damage they may cause by a decision that is unavoidable.
What are the relationship between goal objective and policy?
A goal objective provides a vision of what a person wants to achieve. A policy may cause people to choose a goal that is easier to implement.
Does your business revenue equal success in your opinion?
Business success depends upon several factors and not just revenue. For a new business success may be measured in the growth achieved. Also customer satisfaction may be very important if the business is dependant upon return business.
What are the roles of Management Consultant?
Management consultants help organisations to solve issues, create value, maximise growth and improve business performance. They use their business skills to provide objective advice and expertise and help an organisation to develop any specialist skills that it may be lacking.
What are the objective of an accountant?
The objective of an accountant is to keep track and balance the expenses of a business. They may also do other things like accounts payable and accounts receivable.
How objective of a business may change as it grows?
A business may achieve an objective and will need to move onto another one (e.g. survival in the first year may lead to an objective of increasing profit in the second year). The competitive environment might change, with the launch of new products from competitors. Technology might change product designs, so sales and production targets might need to change.
How important is credit to the growth of a business?
For most businesses, credit is very important and provides the following benefits (but is not limited to the following): * Allows for reduced capital due to carry of payables * Provides for purchase of equipment that may not have been possible without credit * Provides for the development of a business credit history, important as the organization goes beyond baby steps
What is objective function?
In a corporate planning sense, an "objective" is usually a statement of a desired directional change or improvement in some characteristic (usually performance related) of a business/organization or functional area of a business.A functional area of a business/organization is generally a part of the organization that contributes to its overall operations in some characteristic way and is usually represented by a functional unit.A functional unit may or may not contribute directly to the sales/output of the business/organization (for example, accounts, salary payments and personnel services are generally functional areas/units of a business/organization, but they only indirectly contribute to the sales/outputs of the business/organization).A functional objective is an objective to achieve something that is in the area of allocated responsibilities/functions of the functional area/unit. The objective is usually based on the organization's corporate objectives but, depending on the size of the organization, may relate specifically to improving the operations of a functional unit.
What is a functional objective?
In a corporate planning sense, an "objective" is usually a statement of a desired directional change or improvement in some characteristic (usually performance related) of a business/organization or functional area of a business.A functional area of a business/organization is generally a part of the organization that contributes to its overall operations in some characteristic way and is usually represented by a functional unit.A functional unit may or may not contribute directly to the sales/output of the business/organization (for example, accounts, salary payments and personnel services are generally functional areas/units of a business/organization, but they only indirectly contribute to the sales/outputs of the business/organization).A functional objective is an objective to achieve something that is in the area of allocated responsibilities/functions of the functional area/unit. The objective is usually based on the organization's corporate objectives but, depending on the size of the organization, may relate specifically to improving the operations of a functional unit.
What may become an important carbon-based fuel?
Biofuels that are derived from recent growth organic matter may become an important carbon-based fuel.
How the objectives of a business may change as it grows?
A business may achieve an objective and will need to move onto another one (e.g. survival in the first year may lead to an objective of increasing profit in the second year). The competitive environment might change, with the launch of new products from competitors. Technology might change product designs, so sales and production targets might need to change.
Why is it important to analyze risk in a business?
It is extremely important for a business to analyse risk. This will assist in identifying factors that may cause interference in achieving the company goals.
Why is mensuration important with infants and children?
To monitor growth and development of child, provider may use growth patterns and developments to assist in diagnosing diseases.
Imagine yourself as a new businessman what are the objectives of business that you will keep in mind if you have to launch a new business?
Objectives give the business a clearly defined target. Plans can then be made to achieve these targets. This can motivate the employees. It also enables the business to measure the progress towards to its stated aims.The most effective business objectives meet the following criteria:S - Specific - objectives are aimed at what the business does, e.g. a hotel might have an objective of filling 60% of its beds a night during October, an objective specific to that business.M - Measurable - the business can put a value to the objective, e.g. €10,000 in sales in the next half year of trading.A - Agreed by all those concerned in trying to achieve the objective.R - Realistic - the objective should be challenging, but it should also be able to be achieved by the resources available.T- Time specific - they have a time limit of when the objective should be achieved, e.g. by the end of the year.The main objectives that a business might have are:Survival - a short term objective, probably for small business just starting out, or when a new firm enters the market or at a time of crisis.Profit maximisation - try to make the most profit possible - most like to be the aim of the owners and shareholders.Profit satisfying - try to make enough profit to keep the owners comfortable - probably the aim of smaller businesses whose owners do not want to work longer hours.Sales growth - where the business tries to make as many sales as possible. This may be because the managers believe that the survival of the business depends on being large. Large businesses can also benefit from economies of scale
