Question

What are the goals of a business?

Answer 1

Goals are a future situation or outcome that the management sets to be accomplished over a period of time with the business. Goals can be short term as well as long term. A goal may be a company wide goal or it may be a department wide goal as well. Goals are usually time bound and specific. They are the purpose for which the business undertakes so many risks and once they are accomplished, new goals are set. Like in hiking, you set goals for everyday to reach the peak except that the business doesn't have a peak and managers set goals to keep on pushing towards improvement.and becoming bigger .

Examples of goal are : increase market share by 20% within 2 years., reaching 10000 subscribers by 3rd quarter. Increasing 10% sales of product x.

In a nutshell, goals are the milestones companies set for themselves which provide them a measure of improvement the business is able to achieve.