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Aims and Objectives of a business

Extracts from this document...

Introduction

Unit 1A - Aims and objectives Introduction Aims Most successful businesses have a clear idea on what they want to do and how they want to do it. In business terminology this is called the aims and objectives. Different businesses will have different aims and objectives. The aims of businesses are a list of things that a business wants to achieve. Examples of business aims can include making profit, expanding the business, maximising sales or maybe even just surviving as a business. But why do businesses need to have aims? Many businesses are start-up firms. This means they just recently established themselves as a new business. That business will require aims as it needs to know what the business wants to achieve or the business will never run smoothly. They also need aims because they are most likely to be borrowing money from the bank or maybe from other friends and family, but if the bank cannot be assured that it will get its money back from the business, they will be reluctant to lend any money. Objectives Businesses also need objectives. These are the targets that a business sets it self to check it is going to achieve its aims. Examples of objectives can include selling a certain number of a product within a limit or making a turn over of a certain amount within a set date. These are just two of many examples of SMART Business objectives. The term SMART means that the objectives should be specific, measurable, attainable, realistic, time constraints. Objectives should be specific; this means that there should be no misunderstanding of how to reach the aims. You either achieve the aims `or you don't. It also needs to be measurable. This means it should be to determine whether or not you have accomplished the objective. Objectives also need to be attainable and realistic. This means that the objectives should be reasonable and should be within reach. ...read more.

Middle

If eWave just provided website design and development services and database services, they will be more successful. Here are some of the Aims I would set them: * Offer high quality, up to date websites at low affordable rates. * Build a strong residual income through website design and maintenance and online advertising which will now be their primary activity. * Build partnerships with smaller companies through activities to publicise the company. Objectives I would set them are: * Turnover of �300,000 by December 2007 * Net profit of 15% from January 2007 - June 2007 and 20% from July 2007 - December 2007 * 30% gross margin by December 2007 * Establish a minimum of 3 online services per week * Advertise to a minimum of 100 business by December 2007 Report on the Computer Market eWave Computers are currently operating their business in the computer market industry. A recent survey taken by research firm Gartner Dataquest, show that there is a major decrease of computers sales as the demand for personal computers is decreasing rapidly. According to Gartner Dataquest, a world-wide company who collect and interpret critical market data, the September 11th attacks on America have exacerbated the slowdown of sales. In 2001 PC sales went down for the first time in 15 years. Most of the world market back then was mainly the computer industry, but since then PC sales has continued to fall. The worry for the globe is that this downfall of sales in America may even affect all economies around the world. The number of PC shipments throughout the globe has also been going down. From the year 2000 to 2001 the global shipments have gone down by 11.6%. During this time the leading computer sales company was Dell. They had just taken over from Compaq earlier that year. Dell had the most number of global sales, 13.8% of the sales were from Dell. ...read more.

Conclusion

Financial Accounts - Keeping accounts, i.e. financial documents, profit and loss statements. * To maintain their cash flow forecasts and keeping them constant. * To keep their shareholders satisfied. * Make sure that the cash flow forecast is scrutinized carefully at the end of each month, and if there's a negative balance, then contact the head within 2 hours. * Make sure that the shareholders receive the record of the accounts, even if they indicate bad amounts, because Sainsbury's shouldn't let the shareholders find out about these kind of information from another external source, as this would result in the shareholder not being comfortable and bad reputation. * Make sure that bills are paid inside the 7 days after been issued. * Keep record of financial documents on spreadsheet (computer) and follow up within 20 hours after the arrival of the goods. Make sure that any anomalies are reported to the sender and dealt with, within the next four hours. Store Maintenance - Opening and closing the superstores. - Cleaning the superstores, i.e. hovering or mopping the floor and walls. Cleaning the shelves and windows. * To grant the customers contentment. * To always open on time for the customers as well as delivery. * To close without leaving anything that could harm the goods or anything that shouldn't be inside. * To attract more customers. * To carry on meeting the health and safety necessities * Employ a worker that can wake up early in the morning, adequate and are the closest to the superstore. * Employ workers, who can check the superstore once as well as the security guards, so nothing is missed before closing the superstore. * Employ workers who can manage the deliveries and put everything in place half an hour before opening the superstore. * Make sure that the appropriate equipments are available from ht beginning of the year. * Employ skilled workers, who would do this once everyday, before the opening of the stores. ?? ?? ?? ?? Zishan Ahmed 8120 29/01/2008 H:\Documents\School Work\Business\Unit 1\1A - Aims & Objectives\UNIT1a.doc Page 1 of 20 ...read more.

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