Aims are the broad targets that an entrepreneur has at the back of their mind (for example, ‘to get rich’). These may or may not be talked about within the business, but eventually staff will come to understand them.
From aims come objectives. Aims are general but objectives are specific. Business people like to use the term SMART objectives. In other words, objectives should be:
- Specific
- Measurable
- Achievable
- Realistic
- Time-bound (that is, they have a precise timescale).