1.2 The Organization

1.2.1 Business objectives and their importance
Demonstrate an understanding that businesses can have several objectives – and the importance of these can change

• Understand the need for objectives in business

• Identify the importance of businesses having objectives

• Demonstrate understanding of different objectives such as growth, profitability and market share

1.2.2 Stakeholders and their differing objectives
State and explain the role of the different groups involved in business activity and their objectives; consumers, employees, managers, owners, financiers and shareholders

• Identify, describe and explain the objectives of different stakeholder groups

• Use examples to illustrate such objectives

1.2.3 Aims of private and public sector enterprises
Demonstrate an awareness of the aims and objectives of enterprises in both private and public sectors

• Describe and explain the different objectives of organisations in the different sectors in an economy