Business objectives
| English | Chinese | Pinyin |
|---|---|---|
| start-up | 初创企业 | chū chuàng qǐ yè |
| objective | 目标 | mù biāo |
| survival | 生存 | shēng cún |
| profit maximisation | 利润最大化 | lì rùn zuì dà huà |
| market share | 市场份额 | shì chǎng fèn é |
| shareholder value | 股东价值 | gǔ dōng jià zhí |
| ethical | 道德 | dào dé |
| CSR | 企业社会责任 | qǐ yè shè huì zé rèn |
| mission | 使命 | shǐ mìng |
| aims | 目的 | mù dì |
| specific | 具体的 | jù tǐ de |
| measurable | 可衡量的 | kě héng liáng de |
| achievable | 可实现的 | kě shí xiàn de |
| time-bound | 有时限的 | yǒu shí xiàn de |
What is a business actually for?
- "To make money" is the obvious answer — but it's not the whole story. A charity, a start-up 初创企业 and a giant corporation chase very different goals.
- A business needs clear objectives 目标 to guide every decision.
Business objectives lab
Match business examples to the objective they reveal.
The most likely main objective of a brand-new business is:
New firms prioritise survival before profit or growth.
Common business objectives
- Survival 生存 — the priority for a new or struggling firm.
- Profit maximisation 利润最大化 — the classic goal of private firms.
- Growth, market share 市场份额, and increasing shareholder value 股东价值.
- Social and ethical 道德 objectives (CSR 企业社会责任).
Internal and external stakeholders all have an interest in the business
Which is a SMART objective?
It is specific, measurable and time-bound.
Which words does SMART stand for? (Select all that apply.)
SMART = Specific, Measurable, Achievable, Realistic, Time-bound.
The overall purpose of a business is its ______.
Mission → aims → objectives.
From mission 使命 to objectives
- A mission is the overall purpose; aims 目的 are broad goals; objectives are specific 具体的 targets.
- Good objectives are SMART: Specific, Measurable 可衡量的, Achievable 可实现的, Realistic, Time-bound 有时限的.
A broad mission narrows down to specific aims, then to SMART objectives and day-to-day tactics
Worked example. "Be the best" is a vague aim. "Grow sales by 10% within 12 months" is a SMART objective — specific, measurable and time-bound, so progress can be checked.
A firm's objectives can change as it grows from a start-up to an established business.
Survival gives way to profit and growth objectives over time.
Why objectives change
- A start-up prioritises survival; an established firm shifts to profit or growth.
- Objectives also reflect the owners' values and external pressures (e.g. demands for ethical behaviour).
SMART objectives: Specific, Measurable, Achievable, Realistic, Time-bound
You've got it
- objectives include survival, profit, growth, market share and social/ethical goals
- mission → aims → objectives; good objectives are SMART
- objectives change as a firm matures (survival → profit/growth)