Producer goals. Goals of the Firm Profit maximisation Maximise sales Growth Top Quality Product...

Producer goals

Profit MaximisationThis is the main objective of all firmsProfit is the reward for taking a risk

Most businesses will want to make as much profit as possible.

They will do this by making as much revenue as possible and keeping costs low

Sales Maximisation

A new business may have their main goal as Sales Maximisation.

To make as many sales as possible

This is to increase market share and compete against existing businesses

GrowthA business may have its main aim as growth.

This may be to get to a point where the company is big enough to compete internationally.

QualityA business that has its main goal as quality

will strive to have the best product possible and will put this before volume of sales and profit.

SatisficingThe main goal for someone who is satisficing

is to reach a goal which is usually to stay in business and then achieve other objectives such as enjoying the lifestyle of being in business

Provide a Community ServiceThis is the main goal of non-profit

organisations to offer a service to its members, groups or wider community

Examples, ambulance services, phone counseling, girl guides

Provide EmploymentBe a good employer and provide jobs for local

families/workers

Be own bossGoal of being a business owner instead of an

employee

Lowest possible priceBusinesses will pride themselves in having

more affordable goods.