You have decided to start your own small business selling SkatePlates—mini skateboards which clip on to...

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Accounting

You have decided to start your own small business sellingSkatePlates—mini skateboards which clip on to users’ shoes. Youthink you have a good product, but know there is lots ofcompetition for the target market you hope will buy yourproduct.
You hope to quickly develop a solid customer base beforeconsolidating in years 2–4 of your business. In five years you hopeto enter a growth phase.
You recognise the importance of developing profit goals/ targetsand have decided to document the various methods so they remain atthe forefront of your mind.
Describe at least four methods you could use to help you setappropriate profit goals/ targets.

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3.6 Ratings (613 Votes)

Methods for setting profit goals target 1Determination of targeted rate of return on invested capital This method is the basic method of setting profit goals of an organisation as first of all we should know that how much we are invested in our business and how much return it will give hence by determining return of invested See Answer

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