8. Who normally decides on business objectives? Why?
9. What aim will a new small business have? Why?
10. Sophie has managed to get a large supermarket to stock her most recent invention, a cup mat that allows drinks to keep their temperature for longer.

Describe two (2) non-financial objectives that Sophie could set for her own business

In most businesses, the owners decide on the objectives for the business. When a business first starts trading it has few loyal customers and no reputation. The most likely objective for a start-up business is simply survival.

What is the likely objective of a new small business?

For example, a new business will most likely be aiming for survival , whereas an already established business may aim for profit . Some small businesses may have objectives linked to expanding as a business and increasing the scale of their operations.

What are the non-financial objectives of a business?

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Non-financial objectives relate to the employee satisfaction, customer satisfaction, corporate social responsibility and so on. The shift of focus to include more than just profits in the objectives of the company is called the triple bottom line: profit, people and planet.