Business aims or objectives establish goals that companies wish to achieve during a set period of time, which include sales targets, profits, growth predictions and market shares. The targets set by companies help with planning and allow individuals within organizations to break up their tasks in the most efficient manner to help reach a common end goal.
Business objectives generally cover a period of one year. They set forth specific goals that companies want to meet, but are often flexible to allow for amendments and adjustments as the year progresses. Business aims may be checked periodically, on a quarterly or semi-annual basis, to gauge progress made by the company along the way. Businesses often find it helpful to establish plans as doing so allows staff members to understand the end goal and learn how their actions contribute to helping the company meet its objectives. The objectives established by companies typically vary depending on several factors, such as the length of time the business has been in operation and its size. Beginning organizations may set basic objectives to survive during their first year of operation while older companies might establish aims to increase sales and revenue by a certain percentage. Many companies set profit earnings as their primary objective while others, such as volunteer organizations, focus on expanding services.