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Business Aim, Objectives and Activity

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Business Aims

Businesses need aims and objectives to succeed in the market. Business’ use aims to set themselves goals for the future e.g. to make profit if possible and meet strict expenditure targets.

Sainsbury’s has aims and objectives also; there aims are based on business, finance, lifestyle and other strategies for example, they aim to give children a very healthy lifestyle, some companies aim to do business but at the same time they want to make something better e.g. we aim to create environment friendly rulers for school supplies. All businesses need an S.M.A.R.Taim.

Specified

  • Well defined
  • Clear to anyone that has a basic knowledge of the company

Measured

  • Know if the goal is obtainable and how far away completion is
  • Know when it has been achieved

Agreed

  • Agreement with all the stakeholders what the goals should be

Realistic

  • Within the availability of resources, knowledge and time

Time

  • Enough time to achieve the goal
  • Not too much time, this can affect project performance

Mission Statement

Businesses have a mission statement, a mission statement is what the business is aiming for, a mission statement defines the core purpose of the organization - why it exists, and reflects employees' motivations for engaging in the company's work. Effective missions are inspiring, long-term in nature, and easily understood and communicated.

Sainsbury’s mission statement is "To be the consumer's first choice for food, delivering products of outstanding quality and great service at a competitive cost through working 'faster, simpler and together."This mission statement is a straight to the point mission statement, it is a understandable statement

Business Objectives

A business objective is what the business must do to reach their aim. Businesses only select aims that are appropriate to their activity, once an aim has been Specified, Measured, Agreed, made sure it is Realistic and Time based, objectives are identified to help the business achieve the aim. These are then converted into measurable targets.

Sainsbury’s have many business activities including; Electronics, Banking, Insurance, household goods etc. But their main core activity is selling groceries.

Sainsbury’s started out selling groceries, and for years only sold this. Later through the years Sainsbury’s started selling different products such as flowers and clothes.

There are two different types of business activity; Wholesaling and Retailing.

Wholesaling

Wholesalers supply goods to customers all over the country, from food and household appliances to machinery and live animals, buy and resell food (from a variety of producers and manufacturers), assemble it for distribution, load it onto trucks, and deliver it to retailers, foodservice establishments, institutional buyers, or the export market, making profits on the services they provide.

Retailing

Retailing consists of the sale of goods or merchandise, from a fixed location such as a department store or kiosk, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be individuals or businesses. In commerce, a retailer buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells smaller quantities to the end-user. Retail establishments are often called shops or stores. Retailers are at the end of the supply chain. Manufacturing marketers see the process of retailing as a necessary part of their overall distribution strategy.

Trends in Activity

The number of business involved in different activities constantly changes. This is because businesses are attracted towards profitable business activities, businesses may change because of the change in lifestyle; New Technology, new phones etc. this is called demand side, which is normally decided by the customers

 Business may change because of competition, Resources etc. which is called supply side, this is decided the business and changes that may to be made.

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

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