Aims - The long term goal for a business, Objectives - The short term goals for a business, Sole trader - A business owned and controlled by one person, PLC - Public limited company, LTD - Private limited company, SMART - Criteria to guide in the setting of objectives, Merger - When two businesses join together to form a new entity, Takeover - A hostile approach when one business buys out another, Diversification - Occurs when a business produces a new product for a new market, Partnership - Owned by between 2 and 20 people,

NCFE - Business Objectives and Growth

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