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Aims and Objectives report

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Introduction

Aims and Objectives In this task I will outline the aims that Tesco have and the objectives they need to do to complete these. For example my aims would be to achieve at least 5 A* to C grades at GSCE level including Math's and English to get into college. The objectives that I need to complete to achieve this aim are having over 95% attendance, attend revision sessions, study and work hard to my full potential. Most businesses and organisations have 4 key aims which are: Survival, Profit, Growth and Prestige. I will now explain what these key terms mean. Survival is quite simply what you have to do keep the business running. In terms of businesses this is when organisations have to cope with the other competitors by keeping their prices competitive so they don't lose money themselves but keep customers visiting the business so they don't go bankrupt. Profit is the money left over when total costs have been taken away from total revenue. This is a main aim for all businesses because you only run a business to make profit otherwise there is no point to running a business if you are making a loss. Growth is when a business expands and diversifies, this could be that they are opening more stores or diversifying the product range to cater for more of the market. Prestige is when an organisation builds a reputation for itself by offering the customer what they want e.g. great customer service, special offers and competitive prices. I will now outline what Survival, Profit, Growth and Prestige would mean in relation to Tesco. Survival Tesco needs to achieve this aim if they want to succeed and to achieve this aim they need to fulfill the objectives required to do this; but as they are Britain's leading supermarket chain it means they have already achieved this aim. ...read more.

Middle

Another different type of Tesco store is a Tesco Extra store. This type of store is mainly situated out-of-town as these stores are very large stores that stock all of Tesco's products. They contain products from all Tesco stores and sometimes stock extra products such as furniture and outdoor products. Diversifying into new markets (internationally) - Tesco has diversified into many international markets around the world. Tesco has gone into markets in Europe with France, Hungary and the Czech Republic and also in Asia and America. The stores in Asia are in Japan, China, Malaysia and Thailand. Tesco has a chain of nearly 100 stores in the United States of America called 'Fresh & Easy.' The United Kingdom is still the base and where the Tesco's headquarters are. The UK is also still the base for major operations and is also still the area which creates the most income and it also has the most stores. Outside the United Kingdom, Thailand has the most stores with 532 stores but South Korea generates the most revenue with only a 142 stores. I have shown that Tesco is as much of a success internationally as it is the United Kingdom. This shows that Tesco has grown successfully over the years and has firmly secured its place in the world market. Tesco are consistently opening more and more stores and continuing to grow. Tesco should invest in more businesses and opportunities to maximise their profitability. Tesco should in the future and have already invested in some business opportunities such as creating their own financial services. Tesco created their own financial services with help from Royal Bank of Scotland as they had a share of the profits but Tesco have now bought out Royal Bank of Scotland's shares and now fully own their own bank. With Tesco owning their own bank they can generate a lot more profit then with just a supermarket chain, this is because everyone will want to invest their money in banks and reliable businesses. ...read more.

Conclusion

Chester Zoo should concentrate on their own strengths as a zoo, creating a theme park would make them focus their attentions on another area of business therefore making it a risk to proceed with that idea. I will now outline what prestige means in the terms of Chester Zoo. This aim is absolutely vital to nearly all businesses as everyone wants to have a good name and when you have a better reputation you can make more profit as consumers will want to visit firms that have a better reputation because consumers want quality. Reputation is built up by providing customers quality products and services. Chester Zoo need to have very good prestige because most customers that visit the zoo are repeat customers not first time customers. Therefore the zoo needs to target really good customer service to give them a better name and reputation therefore helping them to bring more customers to the zoo. Firstly, the zoo needs to target training as good customer service is all about the training given to employees and how they effectively produce such skills when situations arise. Chester zoo are working towards gaining an Investor In People award(IIP) award so that means that they are on their way to completing this objective as they are training employees consistently well and helping them to learn and use new skills. Chester zoo need to make sure each and every employee is dressed smartly and is reflecting the zoo's image. Chester zoo should concentrate on what they do best as this will also raise their name and prestige. The zoo can accommodate more operations and help save more wildlife such as Bengal tigers as there are only a few hundred left in the whole world and when the zoo raises awareness about animals like these then they will get lots of good publicity making sure that everyone knows their name and will recognise their brand. ...read more.

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