• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Aim and Objectives of different types of business.

Extracts from this document...

Introduction

Aim and Objectives An aim is a long term vision or goal of a business that the business hopes to achieve. Every organisation has it's own aims such as profit maximisation, survival, break-even, growth, service provision, market shares and developing their relationship with other businesses, depending on the type of the organisation. Different forms of Aims Profit maximisation: Most privately owned businesses aim to make profit. It means they are trying to increase their profit each year. Survival: If a business is facing a difficulty then their aim would be to survive until the situation of the business is improved. Break-even: Break-even is when a business aims not to make any profit or loss. It means to make enough money to cover the total costs involved in producing and selling the goods or services and the running of the business. Growth: A business aim might be to expand by opening other branches to make their business bigger. A business might aim to grow, so it can sell more goods or services. This aim is popular for large businesses like McDonald's. Service provision: This means offering a new service or improving current service, which is known as service provision. ...read more.

Middle

* R - This means the target is sensible so that you stand a chance of achieving it. You could not save �30 a week if you did not have a job that paid at least that amount. * T - Businesses try to achieve objectives in a specified time period. For example they might want to achieve something by the end of 2009. Importance of setting aims and objectives: Aims and objectives are very important for businesses, to make sure that they are moving forward. They set the SMART objectives so they can achieve the aim and that they can also achieve the goal they want. The business might have a purpose and they can only achieve it by setting aims and objectives. Keeping the staff motivated is good for businesses, because then if the workers are motivated they will provide a good level of customer service and they do their job better. If a business does not have aims or objectives then that business will have lots of problems in future e.g. the business may become bankrupt, or the business may not even reach the break- even point. This means that the business would not even cover its costs and they will end up being closed. ...read more.

Conclusion

This will increase the profit because more customers will come and this can help to achieve the aim. The following are the SMART objectives that Kassam newsagent might set to achieve their aims: * Employee more staff by the end of February 2010. * Increasing selling prices by end of January 2010. * Try to make profit from 2009 to 2010. Conclusion: The aims and objectives are different for a sole trader business, than for from Subway because a sole trader is a small business and Subway is large business. The aims of Subway are to be recognised as one of the world best fast food restaurants and Kassam Newsagent only wants to be recognised as the best local shop around that area. The sole trader business only has to make their reputation in a small area and they also have limited competition. Where as Subway has many competitors on a global basis. Therefore the difference between Kassam Newsagents and Subway's aims and objectives is very large. Subway has the power to attract many customers in different ways, because Subway has money to spend on their business to entice more customers and profit. Where as the sole trader might need to borrow or use personal saving to spend on the business. ?? ?? ?? ?? Parveen Akhtar Unit 1: ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Business, Companies and Organisation, Activity section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Business, Companies and Organisation, Activity essays

  1. Marked by a teacher

    In this piece of coursework I will talk about the activities that Jaguar Cars ...

    5 star(s)

    The first objective and the first aim are both linked as they can both be achieved by doing the same activities. Also by fulfilling these aims and objectives we have already seen that it would contribute to achieving the other ones.

  2. Exmaining different types of business ownership with examples of each.

    be mega- millionaires but because it is being shared among potentially hundreds of shareholders, these shareholders are not very rich even .A disadvantage is overall loss of ownership so because there are so many owners this means that they are all in control so there is no one person who can overrule everyone else (this could be a disadvantage too)

  1. This report is about aim and objectives for businesses, what mean SMART objectives, why ...

    Purpose for settings objectives: * To give owners and all management better control on the business.

  2. aims and objectives

    It focuses the company on specific aims over a period of time and can motivate staff to meet the objectives set. By setting aims and objectives, companies give themselves a sense of purpose and direction. This provides a structure around which to create their plans.

  1. Tesco Research

    Qualitative sources are primary data, they involve the use of qualitative data, such as interviews, documents, and participant observation data, to understand and explain job specifications. * Quantitative sources are the systematic scientific investigation of quantitative properties and phenomena and their relationships.

  2. English for business

    Don't smoke 3. Sit up straight 4. Arrive on time * Find out about your partner's career. Ask about: -present job -work experience -education and training -ambitions and prospects for the future -its rewards and frustrations * Discuss how the impression you may give especially to a foreign can be affected by: a)

  1. Business Studies

    of income, occupation and level of education - "A Demographic" Government factors > Key govt factors influencing customer choice = federal govt regulation of the economy > Monetary and Fiscal policies > Play a social role in influencing consumers through age restrictions and censorship warnings and film Developing marketing strategies

  2. Aims & Objectives of a Business - comparing the NHS with McDonalds

    Now it is a Primary, Secondary and Tertiary business. Purpose: To make profit The purpose of McDonald?s is to make a profit. As McDonald?s has grown in size over time and has also become a Franchise it has made profit there as it takes a cut of the Franchises? profit.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work