Profit goals help a business grow, survive, show good performance, and attract investors.
A profit objective is the second type of objective an organisation can set. All businesses
are started to make a profit to ensure their survival and growth. An organisation
should not focus only on short-term objectives, such as specific sales objectives, but
also on long-term objectives, such as ensuring profitability. Profit objectives aim to
minimise the costs of sales activities such as remuneration of salespeople, travelling
and accommodation expenses, and general office expenses incurred by the sales
personnel. Profit objectives are crucial for various reasons:1
■ Profit is a necessity for the organisation to grow.
■ Profit ensures the survival of the business.
■ Profit is seen as an indicator of good performance.
■ Profit attracts potential investors for expansion
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