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Aim and Objectives of different types of business.

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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.

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