- Is PROFIT the only objective for a new Business? No, other objectives include survival as a business, create revenues, provide for a family or to be your own boss.
- What is an OBJECTIVE? An Objective is something you aim to complete.
- What is a FINANCIAL OBJECTIVE? a financial objective is an objective that involves money, such as a goal profit.
- What is a NON-FINANCIAL OBJECTIVE? A non Financial objective is an objective that doesnt involve money, such as being your own boss.
- Why is SURVIVAL a good objective to have? Is it FINANCIAL or NON-FINANCIAL? Survival is a good objective because if you dont aim to survive, you wont. It Is financial objective because to survive you must break even or make a profit.
- Why is TO HELP OTHERS a good objective to have? Is it FINANCIAL or NON-FINANCIAL? To help others is a good objective to have because it may primarily help someone in the long term, such as a charity. It’s a noon- financial objective.
- Why is PROFIT MAXIMISATION a good objective to have? Is it FINANCIAL or NON-FINANCIAL? Profit maximisation is a good objective to have because it means to aim for the most profit able to be produced.
- Why is SOMETHING TO BE PROUD OF a good objective to have? Is it FINANCIAL or NON-FINANCIAL? Something to be proud of is a good obectve to have because it means you have created something worthwhile. it’s a non-financial objective.
- Why is SALES MAXIMISATION a good objective to have? Is it FINANCIAL or NON-FINANCIAL? Sales maximisation is a good objective to have because It allows you to sell the most of your product. Financial objective.
- Why is BEING YOUR OWN BOSS a good objective to have? Is it FINANCIAL or NON-? Being your own boss is a good objective because It allows freedom. Non financial.
Drive- our business was driven to do the best that we could for the money available. We used easily available resources to ensure success
Thinking Ahead- We calculated the risks of our business idea and brainstormed a way of how to defeat the obstacle in our path.
Determination- We were determined to be more successful than all of the other teams in our goal.
Seeing opportunities- We bargained when buying our ingredients and resources to get the best price available.
We made a profit of £20 which was our aim therefore our business was a success!!
Our butterbeer business was a success as we calculated the risks that could occur. If our business took off and we sld it outside of school the risks and rewards would be:
I think it would be worth the risks as even if it was a failure we could learn from our mistakes and improve in the future. Also it would be a great learning experience of business large scale.
the rewards that they could get from selling dolls that look like the person is that hey could
. earn a profit
. little girls will like that product
the risks that they would b taking is that
. parents may not want to buy that for their child
. there may already be a business that sells lookalike dolls
. there may be complaints that the dolls dot look like the child
i think that this business will work because they have a good business plan