[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-207556-en":3,"doc-seo-207556-105":30,"detail-sidebar-cat-0-en-105":90},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":27,"seo_description":14,"update_tm":28,"read_time":29},207556,962084928904,"Jake","https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d",4,"Exam","Business Aims and Objectives - Exam Practice","Materials focus on business aims and objectives and how they differ, using case studies such as a sandwich shop, a knitwear business, and other scenario-based questions. Learners complete tasks identifying financial vs non-financial aims, explain competitors’ likely different aims, and analyze impacts of sticking to stated goals. The worksheet also covers revenue, fixed and variable costs, calculations of loss/profit, and break-even analysis with margin and percentage change questions.","Theme 1:Topic 1.3—Putting a Business Idea into Practice 13  \n# Business Aims and Objectives\n\nWarm-Up  \nPlace the aims on the left into the correct column of the table,  \ndepending on whether they are financial or non-financial.  \n\n| Financial Aims   | Non-financial Aims   |\n| --- | --- |\n|  |  |\n\nTo have sales of E30000  \nTo have the challenge  \nof running a business  \nTo improve education  \nin the community  \nTo increase market share  \n## 1 Explain how business aims are different to business objectives.\n\n[Total 3 marks]  \n## 2 Read the following information carefully and answer the questions that follow.\n\nKaren Booth is opening Karen's Sarnies,a small sandwich shop in Nantwich,Cheshire.Karen previously worked in a small café,but is opening a new business so she can have morecontrol over the menu she serves and the ingredients she uses.In her first year,Karen's mainaim is for the business to survive.For the years after that,Karen has other aims,such as tomaximise profit.  \nOne of Karen's main competitors will be Rye Ltd.,a café in the neighbouring street.Rye Ltd.has been open for ten years and is popular within the town.  \n### a)State one non-financial aim that Karen Booth has for her business.\n\n[1]  \n### b)Outline one reason why the aims for Rye Ltd.are likely to be different to the aims forKaren's Sarnies.\n\n[2]  \n[Total 3 marks]  \nRead the following information carefully and answer the questions that follow.  \n3  \nAt the start of 2008,Ole opened Merino,a business selling Scandinavian knitwear in the UK.When he started the company,he set and stuck to the following aims:  \n1.To make knitted garments using pure wool,sourced from Scandinavia.  \n2.To have sales of over £120000 per year by the eighth year.  \nOle also set the company yearly sales targets,increasing to £120000 for the eighth year.  \nFor the first three years,Ole was selling his knitwear on the internet.Then,in 2011,a retailerwith three outlets in his local area started stocking his products.In 2013,Ole put some advertsfor his company in a national newspaper.This led to many more orders on his website,andin 2014 a national department store offered to start stocking his products.This offer wouldincrease Ole's sales from the current level of f150000 per year to a predicted f180000 peryear.However,in order to make products at a cost that the department store would be willingto pay,Ole would have to start using a cheaper,synthetic wool.Ole decided to decline theoffer from the department store,and continue selling his products through other outlets.  \n### a)Outline one reason Ole has set himself yearly sales targets.\n\n[2]  \nb)Calculate the predicted percentage increase in sales that Merino wouldhave had if Ole had accepted the deal with the national department store.Show your working.  \n……  ……%  \n### c)Analyse the impact on Merino of Ole's sticking to his aims.\n\n[6]  \n[Total10 marks]  \nWarm-Up  \n0.7%  \n6.2%  \n6.6%  \n### a)Complete Figure 1 to show thetotal money received from salesfor Years 2 and 3.\n\nRevenue,Cost and Profit  \nCircle the costs below that would be described as 'fixed costs'for a business.  \nraw materialsrunning machineryinsurancewages formanagersfactory staffsalaries  \nWhich of the following is the correct definition of revenue?Put a cross (X)in one correct box.  \nA The amount of money a company receives from sales.  \nB The amount of money left over after costs are taken into account.C The amount of money paid out to shareholders.D The total amount of costs over a year  \n[Total 1 mark]  \n2 Which of the following would be the interest on a loan of £26000,whichwas repaid to a total of £27720?Put a cross(×)in one correct box.A  \n[Total 1 mark]  \n3A new business makes scarves and sells them for £7.Figure 1 shows the numberof scarves sold by the business in three years and the total costs for each year.  \n\n|  | Year 1   | Year 2   | Year 3   |\n| --- | --- | --- | --- |\n| Number of scarves sold   | 850   | 450   | 1200   |\n| Total money received   | 5950   | …………","cbCaibXOklnbEtX6","https://ap.wps.com/l/cbCaibXOklnbEtX6","pdf",2089294,1,9,"English","en",105,"# Business Aims and Objectives\n## Warm-Up\n## Explain how business aims are different to business objectives\n## Karen Booth: Business aims and competitors\n## Ole: Aims, targets, and impact analysis\n## Revenue, Cost and Profit\n### Fixed costs and revenue definition\n### Interest on a loan\n### Revenue, costs, and profit calculations\n## Break-Even Analysis\n### Break-even level of output\n### Scenario: frozen chips business","[{\"question\":\"How are business aims different from business objectives?\",\"answer\":\"Business aims describe broader intentions for the business, while business objectives are specific targets used to measure and manage progress toward those aims.\"},{\"question\":\"Why are Karen Booth’s aims for her business likely to differ from the aims of Rye Ltd.?\",\"answer\":\"Karen’s aims reflect her stage and priorities as a new business and her need for survival, while Rye Ltd. has been established longer and likely focuses on different goals such as growth and profitability.\"},{\"question\":\"What does the break-even level of output mean in a business context?\",\"answer\":\"Break-even level of output is the amount a firm needs to sell so it covers its costs, resulting in no profit and no loss.\"}]","Business Aims and Objectives - Exam Practice | 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are business aims different from business objectives?","Question",{"text":74,"@type":75},"Business aims describe broader intentions for the business, while business objectives are specific targets used to measure and manage progress toward those aims.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"Why are Karen Booth’s aims for her business likely to differ from the aims of Rye Ltd.?",{"text":79,"@type":75},"Karen’s aims reflect her stage and priorities as a new business and her need for survival, while Rye Ltd. has been established longer and likely focuses on different goals such as growth and profitability.",{"name":81,"@type":72,"acceptedAnswer":82},"What does the break-even level of output mean in a business context?",{"text":83,"@type":75},"Break-even level of output is the amount a firm needs to sell so it covers its costs, resulting in no profit and no 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