This document discusses business objectives and stakeholder objectives. It defines objectives as specific targets to be achieved, and notes that objectives should be SMART (Specific, Measurable, Achievable, Realistic, and Time-specific). Common business objectives include survival, profit, growth through economies of scale and market share. Corporate social responsibility is also discussed. Social enterprises are defined as businesses that reinvest most profits into benefiting society. Key questions are provided to help understand objectives.

1. Business Objectives and
stakeholder objectives

2.  At about the things that you want to do in the next
year, 5 years and 10 years. How are you going to
achieve them?

3.  Objective: A statement of a specific target to be
achieved. They should be smart.
 Specific
 Measurable
 Achievable and agreed
 Realistic and relevant
 Time-specific
Business objectives and how their
importance can change.

5.  Survival
 Profit
 Growth- economies of scale, profits, competitiveness
 Market share- The revenue expressed as a
percentage of total market revenue.
 Corporate Social Responsibility (CSR)
Different business objectives

6.  Social enterprises- A business with social objectives
that reinvests most of its profits back into the
business or into benefiting society.
 Activity 5.2 pg. 60
 Activity 5.3 pg. 61
Objectives of social enterprises

7.  What is meant by an ‘objective’?
 Explain why a business needs objectives.
 Identify and explain three business objectives.
 Identify the main objectives of a social enterprise.
Questions