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Why might business objectives change over time
Transcript of Why might business objectives change over time
Why might business objectives change over time?
business objectives for small businesses may include surviving the first year (either breakeven or make profit)
When businesses lose customers and money they will invest in other products or services to raise extra money for the business, for example tesco only sold food at the start eventually they started selling everything this is called diversification
Expansion is when the business is either growing in size or growing in profit. It may be affected by external factors such as economic recession, this is an example of external factors effecting a business. For example virgin media has expanded to trains, airways and internet connection