Business – 1.4 Business objectives – Objectives and business decisions | e-Consult
1.4 Business objectives – Objectives and business decisions (1 questions)
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A business may need to revise its objectives to remain effective and competitive. Common reasons include:
- Internal factors
- Changes in management strategy or leadership vision.
- Variations in financial performance or resource availability.
- External factors
- Shifts in market demand or consumer preferences.
- New legislation or regulatory requirements.
These factors can alter the feasibility, relevance, or priority of existing objectives, necessitating updates to keep the organisation on track.