1.4.1—Business objectives

A business objective is a target that guides decisions, such as survival, profit, growth, market share, service quality or social impact. Objectives make a broad purpose actionable.

Objectives can conflict and change with ownership, life cycle, finance and external conditions. A target should be specific enough to monitor, not merely an aspiration.

A new firm may prioritise survival and cash flow; once established, it may trade some short-term profit for market share or investment.

Profit is an objective, not the definition of every business; public and social organisations may pursue different priorities.