Question

Answer each question in a paragraph form, including an example from your own experiences or related research.

1a. Explain the “Primary Aim” concept and how it can change the focus of an entrepreneur endeavor.

1b. Explain what “Strategic Objective” means to the small business owner, and how it relates to your “Primary Aim”.

Answer 1

1) Primary aim is the basic behind the entrepreneurship thought process. Primary aim can be said as one's main goal to accomplish. It is the foundation stone for great success.  

If , an entrepreneur will change the direction of the business after setting the long term goals then it will be inspired from the inner drive and it will be focus on primary aim. When, people get motivated from the primary aim then they avoid great opportunities too but never change their mind to accept a particular aim of his interest areas.

2) A small business may have short term as well as long term objectives to complete its position in the industry. For example: Opening 20 branch within one year.

To get acceptance in global market place in next five years.

It may be focus to achieve:

1) Reach to many markets

2) Utilization of resources in best possible manner

3) To launch new products

4) To focus on primary aim

5) To earn a growth rate of 10-20% per annum.

I have strategic objective to become best business group in the local community. I will start selling products in new segment as compared to the competitors organization. I know a sound growth is important.