Why Business aims & Objectives Evolve
- Topic 1.3.1 introduced aims and objectives for businesses starting up
- As a business grows in size and evolves its objectives can change
- These objectives are often influenced by various internal and external factors
- These objectives are often influenced by various internal and external factors
- These changes are often necessary to ensure that the business remains competitive, profitable, and compliant with regulations
Factors Which Cause Business Objectives to Evolve
Factor |
Explanation |
Example |
Market conditions |
|
|
Technology |
|
|
Performance |
|
|
Legislation |
|
|
Internal reasons |
|
|