AQA · GCSE · Business

    Course version: 8132 · Version from Sept 2017

    Understand the main aims and objectives for businesses: survival, profit…

    Full specification wording

    Setting business aims and objectives: understand the main aims and objectives for businesses: survival, profit maximisation, growth (domestic and international), market share, customer satisfaction, social and ethical objectives and shareholder value

    Businesses set aims (general intentions) and objectives (specific targets).

    Checked against the AQA 8132 specification (opens in a new tab) on .

    • Point 6 of 10
    • 4 key terms

    Study notes

    From the checked teaching notes for this specification point.

    The idea

    Businesses set aims (general intentions) and objectives (specific targets). Main aims include survival, profit maximisation, growth (domestic and international), market share, customer satisfaction, social and ethical objectives, and shareholder value. Survival is vital for new or struggling businesses. Profit maximisation means making as much profit as possible. Growth can be domestic (within the home country) or international (expanding abroad). Market share is the proportion of total market sales a business holds. Customer satisfaction focuses on meeting customer needs to build loyalty. Social and ethical objectives involve benefiting society and acting responsibly. Shareholder value means increasing the returns to owners or shareholders. These aims guide decision-making and provide criteria for judging success.

    What earns the marks

    • Survival is a key aim for new or struggling businesses.
    • Profit maximisation means making as much profit as possible.
    • Growth can be domestic (within the home country) or international (expanding abroad).
    • Market share is the proportion of total market sales held by a business.
    • Customer satisfaction focuses on meeting customer needs to build loyalty.
    • Social and ethical objectives involve benefiting society and acting responsibly.
    • Shareholder value means increasing returns to owners or shareholders.

    Common mistakes and how to put them right

    • Confusing aims and objectives.

      Put it right: Use aims for general direction and objectives for measurable targets.

    • Thinking profit maximisation is the only aim.

      Put it right: Recognise that aims vary by business and context.

    • Mixing up domestic and international growth.

      Put it right: Clearly distinguish between the two.

    Exam tips

    • Learn each aim with a brief definition and a real or hypothetical example.
    • When analysing, explain how the aim affects business decisions, e.g. survival may lead to price cuts.
    • Use the context of the business to justify which aims are most important.

    Try the lesson

    The start of the Setting business aims and objectives: understand the main aims and objectives for businesses: survival, profit maximisation, growth (domestic and international), market share, customer satisfaction, social and ethical objectives and shareholder value lesson, made from checked teaching notes for this specification point.

    Have a go first

    Which one of the following is an aim that a new business might set in order to keep trading through its first year?

    Listen

    Businesses set aims (general intentions) and objectives (specific targets). Main aims include survival, profit maximisation, growth (domestic and international), market share, customer satisfaction, social and ethical objectives, and shareholder value. Survival is vital for new or struggling businesses. Profit maximisation means making as much profit as possible. Growth can be domestic (within the home country) or international (expanding abroad). Market share is the proportion of total market sales a business holds. Customer satisfaction focuses on meeting customer needs to build loyalty. Social and ethical objectives involve benefiting society and acting responsibly. Shareholder value means increasing the returns to owners or shareholders. These aims guide decision-making and provide criteria for judging success. A strong answer earns marks for these points. Survival is a key aim for new or struggling businesses. Profit maximisation means making as much profit as possible. Growth can be domestic (within the home country) or international (expanding abroad). Market share is the proportion of total market sales held by a business. A common slip: Confusing aims and objectives: aims are general, objectives are specific. Instead, use aims for general direction and objectives for measurable targets. Exam tip: Learn each aim with a brief definition and a real or hypothetical example.

    See it

    A top-down flowchart. The top node reads 'Aims and objectives' and branches to eight aims: Survival, Profit maximisation, Growth, Market share, Customer satisfaction, Social and ethical objectives, and Shareholder value. The Growth node itself branches into two further nodes: Domestic growth and International growth.
    It shows the main business aims listed in the teaching note, with growth split into domestic and international.

    Key words

    Say what each word means before you turn the card.

    Business aims

    Try answering aloud or in your head before turning the card.

    Objectives

    Try answering aloud or in your head before turning the card.

    Survival

    Try answering aloud or in your head before turning the card.

    Profit maximisation

    Try answering aloud or in your head before turning the card.

    See every definition
    Business aims
    General intentions that businesses set, guiding decision-making and providing criteria for judging success.
    Objectives
    Specific targets that businesses set, guiding decision-making and providing criteria for judging success.
    Survival
    A key aim for new or struggling businesses.
    Profit maximisation
    Making as much profit as possible.

    Label the diagram

    Some boxes have lost their names. Pick the right name for each number.

    The diagram again, with 3 boxes numbered instead of named. A top-down flowchart. The top node reads 'Aims and objectives' and branches to eight aims: Survival, Profit maximisation, Growth, Market share, Customer satisfaction, Social and ethical objectives, and Shareholder value. The Growth node itself branches into two further nodes: Domestic growth and International growth.
    • 1Box 1

    • 2Box 2

    • 3Box 3

    0 of 3 labelled

    There is more to this lesson

    The full lesson goes on to check your understanding and help you earn the marks. Create a free account to carry on, with your progress saved.

    Carry on with the full lesson

    A week of Premium from your first lesson · Then the free plan continues · No card, no charge

    Test your understanding of Setting business aims and objectives: understand the main aims and objectives for businesses: survival, profit maximisation, growth (domestic and international), market share, customer satisfaction, social and ethical objectives and shareholder value

    Active recall beats re-reading. Take an instant quiz now to test what you’ve learned and lock it into long-term memory.

    Take topic quiz

    A week of Premium from your first lesson · Then the free plan continues · No card, no charge