01 Outline one reason why a business needs to set objectives.

[Sir Afzal Shad]

01 Outline one reason why a business needs to set objectives. [3]

[Shaliza khawaja]

business sets objectives to give a direction and purpose mening they have clear target
for example a clothing brand setting a sales target so that they know how much to produce
it help managers and employees prioritize one goal and focus on that, this helps improve the possibility of achieving something this also allows manager track the performance for the workers motivating workers to work better and produce better quality product which would improve brand image

[Shuraim Arif]

(KN) Businesses set objectives so that each of their employees, managers and staff can work together to achieve one specific goal.
(APP) For example, at a car manufacturing company, one of the business objectives could be to produce high quality cars to build a loyal consumer base.
(AN) With all the staff working together to achieve this goal, rather than each person working to achieve different goals, is a lot more efficient and helps the company stay focused and also reduces disagreements of who was supposed to do which task. As a result, efficiency increases, and with their combined goal of manufacturing high quality cars slowly being fulfilled, employees would get more motivated and would push themselves to work harder.

[Fatima ibtehaj]

[KN]To provide a sense of direction.
[APP]For example, Coca-Cola might set an objective to increase its market share in Asia by 5% over the next year.
[AN]This gives the company a clear direction as it can focus its marketing campaigns and distribution strategies in Asian markets. Having a specific objective helps align employees efforts and measure progress, making it more likely that the company will achieve growth rather than wasting resources on uncoordinated activities.

[Arham Qadri]

[KN] Because it helps in drafting aligned strategies.
[APP] For example a football shoe factory/business like Addidas could aim for profit maximization.
[AN] Hence this would give the business a sense of direction to follow, the employes will ensure focus so that this objective will not drift and it helps to evaluate the performance of employees.

[shamaim shakeel]

Knowledge Point:
A business needs to set objectives so it has clear and measurable goals to work towards, helping guide its overall direction.

Application:
For example, a new clothing business might set an objective to increase sales by 20% in its first year, so that it can grow and cover its costs.

Analysis:
This helps the business stay focused on what it wants to achieve. It allows managers to make better decisions because they know what targets to aim for. As a result, the business can improve its performance and move steadily towards longterm success.

[Dania Farooq]

[KN] A business needs to set an objective so it has a clear goal to guide its actions nd decisions.
[APP] For eg, a small bakery might set an objective to increase sales by 15% in the next six months by introducing new flavors, improving packaging nd promoting the product.
[AN] Setting such an objective helps the business stay focused as well as track its progress over time nd make better financial and marketing decisions to reach its target.

[Subhan Zafar]

{KN}Objectives give a clear sense of direction the purpose performed by the business.
{APP}For example, a bakery business might set the objective of increasing sales by 15% over the next year.This clear sense of direction that helps the owner decide where to focus such as introducing new cake varieties or improving marketing instead of trying to do everything at once.Employees also understand what they are working towards, which can improve motivation and teamwork.
{AN}As a result, the business becomes more organised and efficient because all decisions and actions are guided by the same target.This increases the chances of achieving growth,improving profitability, and ensuring long-term success.

[Aayan Zaidi]

KN: A business needs to set objectives because they give the company a clear sense of purpose and direction. Objectives help managers and employees know what they are working towards.
APP: E.g a clothing brand might set an objective to increase sales by 10% within a year or to expand into two new cities.
AN: Having clear objectives helps the business plan its actions, motivate workers, and measure how successful its been, making decision-making more focused and effective.

[M huzaifa jillani]

(KN)
Objectives give a business a clear direction and help it plan what it wants to achieve.
(APP)
For example a new clothing store might set an objective to increase sales by 20% in one year.
(AN)
This helps managers and employees stay focused and measure whether the business is moving towards success or needs to improve .

[Abdullah Altaf]

[KN] To have a clear goal and purpose of the business.
[APP] For Instance, a tech company might set an objective to increase its market share in the cloud computing sector by 15% within two years.
[AN] This allows the company to focus its resources on specific strategies, such as developing new cloud services or expanding its sales team, leading to more efficient decision-making and a higher probability of achieving its growth targets.

[Muaz Aamir]

KN: One reason a business needs to set objectives is to give the business a clear direction and purpose.

AP: For example, a new clothing brand might set an objective to increase its sales by 20% in the first year.

AN: This helps guide decisions and keeps everyone focused on the same goal, which improves teamwork. It also allows the business to measure its success easily.

[Abdullah Baig]

Kn
A business needs to set objectives to give it a clear direction and purpose to work towards
App
For example, a clothing company may set an objective to increase sales by 15% this year which helps employees focus their efforts on improving marketing and product design allowing the business to measure progress and make necessary adjustments ensuring everyone works toward the same goal
An
Therefore, setting objectives helps coordinate activities, improve motivation, increasing the business overall efficiency and success.

[Aarib Saad]

(KN)It gives the business a guideline and sense of direction.
(APP)For instance, if a businesses objective is profit maximization it will know what decisions will best lead it to that goal, like buying products in bulk to receive discount, lowering COP.
(AN)This in turn will mean that the business will efficiently be able to reach whatever objective it has in mind, which will motivate the workers as well as the departmental heads to continue working hard, allowing the business to be able to stay relevant for the long run.

[Wahaj Ashraf]

[KN])It gives the business a motive and sense of direction.
[APP]e.g. If a business has an aim to open its new outlets and expand thus by knowing what they have to do the business will take decisions that will lead them to that goal e.g. saving money or improve its finances so that they can expand
[AN]Thus business objectives will help businesses reach their goals moreover will make the business to stay in like to be relevant also motivating the workers to work hard.