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aims and objectives of bussiness

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Aims and Objectives Shahzaib Amjad unit 1 task P3 Aims What is an Aim? The long term visions or goal of a business is known as Aim. The aim of the business could be to make larger profits. It strategies therefore, could be: * To increase sales through extra advertisement; or * To cut employment costs. Different form of Aims: Below are some different forms of aim that can be set for a business. Profit Maximisation- to increase profit by increasing sales and reducing costs. Not every business has profit maximisation as it aims. Public businesses, such as. Colleges and schools would not have profit maximisation as its aim. Private businesses, such as Tesco and Asda, would have this as its aim.. Survive- if trading is difficult for some reason, then making good profits may not be realistic. In this situation, the business aim just to survive, until times improve. For example new businesses and small businesses should be worried about this aim. Break-even- this mean making enough money to cover the total costs involved in producing and selling the goods or services and running the business. There is no profit, but there is no money either. Growth- it sells more goods or services. This may mean expanding by opening other branches or buying out a competitor. ...read more.


So, the purpose of setting objective is so people got smaller goons to achieve. Smart Objectives: A problem with some objectives is that they are not very clear or specific. This type of problem can be overcome by setting SMART objectives which are: Specific: there is clear definition, often including a number, for example saving �20 a week. Measurable: this means achievement can be checked. Banking your savings means your bank statement will record and measure your achievement. Achievable: this means you can attain your target if you stretch yourself a little- saving �20 a week may be achievable with out having to make too many sacrifices. Realistic: this means that target is sensible so that you stand a chance of achieving it. You could not �20 a week if you did not have a job that paid at least that amount. Time-Related: every object should have a date for achievement or review. therefore, you could set a time limit to review your progress after three months. For example you may decide to join gym but then only go when you feel like it; you may decide to save for a holiday with out setting a specific amount. In both case you may fail to fulfil your aims. This type of problem can be overcome by setting SMART objectives. ...read more.


So their aim is to expansion and growth. * The aim of Subway is also to match the number of outlets of the biggest fast food retailer in the country currently,(possibly McDonalds) which comes under the umbrella of growth, but also market share possibly, because they want to keep up with the competition. What objectives subway needs to achieve their aims? * A business needs to take some steps to achieve their aim e.g. open three stores next week. * Subway start to making three new stores every week. This will be help to achieve the aim of grow their business. * Subway needs to open more branches to give extra services to people and grow their business. Purpose of setting aims and objectives: All businesses set some objectives to get their aims. It is important to set objectives in business. Objectives are more specific them aims. Objectives are goal which are set to help to achieve on the whole aims of the business. Objects are communicated to staff and departments who then know which targets they must achieve for the business to achieve its objectives. Why subway set aims and objectives? Subway set aims and objectives to get what they want. And Subway knows what they want to achieve from their business, what they are aiming for. It is important to set objectives in subway in order to keep focused so as not to wasting time, money and other resources. ?? ?? ?? ?? Shahzaib Amjad ...read more.

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