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Differences Between Aims and Objectives
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Aims and Objectives Differences
The differences between a business aim and a business objective are that aims are longer term goals such as maximising profits over a set time period. Objectives are a lot more specific to aims were they are targets which are set to help achieve the overall aims of the business. Aims are like smaller goals that a business sets to help achieve their overall objectives. A common business aim would be to expand into other countries. The objective would then be to reach a profit of 100,000 within the first two years.
The importance for a business to have aims and objectives is so that it has goals to work towards. Without them the business wouldn't have any goals and as a result would strive to be a better business. It also sets employee standards so that they know the values of the company.
Sometimes business will and should use SMART objectives. A SMART objective will have to comply with the following criteria:
Specific - Objectives should be specific and clearly state what the business hopes to achieve. For example a common business aim is increasing their profits.
Measurable - The
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