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All businesses have aims and objectives to help them plan and set targets for what they want to achieve.

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Aim and Objectives All businesses have aims and objectives to help them plan and set targets for what they want to achieve. The difference between a successful business and an unsuccessful business is their ability to have a clear vision of what they hope to achieve and how to plan for the future. Business Aims The main aims of businesses are to: 1. Make a profit and expand: -For many businesses making profit is an important aim. It provides a reward for the owners of the business and helps the business to have the money to expand its operation. 2. Maximise its sales and beat the competition: -Making a profit is not the same as selling as many products as possible. The reason for this is that many businesses need to beat the competition. Businesses which sell popular products such as holidays and food often cut prices to get more sales. They may take part in what is known as 'price wars', but cut prices may lead to the reduction of profits. Often the business owner/owners have to decide which is the more important aim: higher sales or higher profits? 3. Survive: -Survival for the new business is critical. Most new businesses are owned by one person and that person will often depend on the business for living expenses. ...read more.


He was also anxious to maintain the quality of the service to satisfy his customers. As Errol's business has now become established and he has gained confidence, he is trying to expand which is one of his aims. Errol also hopes to employ a full-time mechanic to cope with the increased business, so another aim is to make enough profit to be able to pay the wages of the employee and for the expansion of the business. In order to achieve his targets his objectives are be competitive or beat competitors, maximise sales, provide quality products and if possible he may want to help charities and the environment in some way. Aim and Objectives of Tesco Like Errol 'Tesco' also has a number of aims which they plan to achieve. Aims: 1. They aim to make Tesco a satisfying place to work by giving their staff the opportunity to be themselves, actively encouraging their health and well being and support their work/life balance needs. 2. They aim to employ people who reflect the diverse nature of society and one of their company values is to 'trust and respect each other'. 3. Tesco is committed to playing a positive role in the community by helping charities. 4. Tesco believes it should contribute to the capabilities of tomorrow's workforce while they are still at school. ...read more.


2. Do something for the environment again to gain publicity and customers, as they know he is doing something good. It will give his business a good reputation. 3. Expand a little if possible to gain more customers and to be able to provide more services and sell more. 4. Employ a full time mechanic to take the stress off Errol's back. 5. It could sell quality products if possible like a car stereo etc or improve the quality of the service that may gain customers. 6. Ain to have a newsagent so he can branch out into another industry. Changes that could be made to the aims and objectives of the PLC to enable it to be more effective are that it could: 1. It could increase the amount of organic products sold, as they are grown naturally and do not contain chemical which some people may take to mind, as they want to know what they are eating. 2. To make a lot more profit so he can take on more workers, do more adverts in newspapers and TV and expand so they can have other/more branches in and outside the UK. 3. Aim to expand more so it could offer a international or national internet service, but in order to do this, they have to open a lot more stores nationally or internationally. This can only be achieved if Tesco gain/make more profit. Aim to offer more services like holidays so it can become a more effective business, keep its customers, and gain others. ...read more.

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