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

Extracts from this document...

Introduction

Zeeshan Shahid BTEC Business Unit 1 Assignment 1b Page of Aims & Objectives Assignment 1B Zeeshan Shahid Aims & Objectives of a Business Included in this report: Why do Businesses Need Aims? Page 3 Why do businesses Need Objectives? Page 5 Examples of Businesses and Their Aims Page 6 & Objectives Case Studies: McDonalds & The NHS Page 10 Similarities & Differences Page 11 Different Aims & Objectives Page 14 Why Do Businesses Need Aims? Businesses have aims they want to achieve. This could be for E.g. to make profit, or increase the amount of profit they are making. Businesses need aims so they have a target, a goal they want to reach. Below are some examples of aims for Businesses: Profit This is common in most businesses. This is when the business makes enough money to cover all the costs (the business has broken-even) then the money made on top is called profit. To make profit is an aim for many businesses; Morrison?s being one of the many. Morrison?s make a profit by buying products for a certain price from wholesalers and then selling the products for more than they paid. This is making profit. Profit maximisation This is mostly common in privately owned businesses. They will usually aim not only to make a profit but to maximise their profit and increase this each year. Profit Maximisation is a business aim for McDonalds. Customers are already coming into the shop and buying food/drink, however McDonalds introduce offers such as ?Add 30p to your price and get large fries with a choice of a large Drink?. This type of offer is trying to get as much money out of the customer as possible. Survival A business may aim to simply survive. This could be because is trading is difficult and aiming to make profit would be unrealistic, thus the business may aim just to survive. ...read more.

Middle

What is the business’ Public Aim (Mission Statement)? To provide a quality service for the public and help them at their time of need. What is the business’ Private Aim? The NHS’s private aim is the same as their Public Aim as they are not a profit making company & they do not need to persuade people to come to their business opposed to McDonalds as previously mentioned in this report. What are the business’ Aims? To Survive & Break Even To ensure that the business does not fail and ensure that it continues to run. The business also needs to break even so they at least cover all costs. They can achieve this aim with the following objectives: Charismatic staff By having charismatic staff the NHS can hope to raise more money from donations and at events etc. as the staff will be good at speaking and persuading people to part with their money for the benefit of the NHS. Use Money Effectively If the NHS uses the money it does have effectively and efficiently then they will have more money left over to do other things. For e.g. they could tape up a leg cast when someone is re using their leg cast rather than make a new one, also when they buy a big set of bandages, buy them together and persuade the seller to give the NHS a discount. Employ Good Staff The NHS needs to employ staff who work well and do more than they need to, it is better if one person works at 110%, as if you get 10 people who work like that you save approximately £20,000 on one person by not employing them. So when interviewing the NHS needs to be cautious on which candidates they select. To Improve Services The NHS wants to improve the service it provides to the public. They can achieve this aim with the following objectives: Good Service By offering good service at reception and in other places in buildings. ...read more.

Conclusion

A factor affecting this is definitely the size of the businesses. Although both fall under large, the difference between both is vast, over 3.5 million. It is because of McDonalds employing so many people that it is global, but in this circumstance is it appropriate for McDonald?s to fall under the same size group as a National business? Another difference is that McDonalds is also in the primary sector, they get the raw materials (e.g. beef) themselves. This could be a reason for McDonalds being so much bigger than the NHS, they save money by not having to buy the raw materials. These two businesses are also different in their sectors of business, the NHS being in the public sector and McDonalds in the private sector. It is because of the sectors of business that their business purposes are so different, McDonalds wanting to make money and the NHS wanting to provide a service. Thus the final difference being that McDonalds is a profit making business and the NHS is not. Different Aims & Objectives As previously shown in this report both McDonalds & the NHS are 2 very different and contrasting businesses. Thus they both have very different Aims & Objectives, but why? McDonalds aims to maximise profit as they are all ready making profit and they want more money. This is mainly because it is a PLC and the owners want to get richer and richer. Opposed to this the NHS is not a profit making organisation so rather than them wanting to make profit, they want to improve their service and to ensure that they survive. This is because it is a state owned business. Essentially it is the purpose of the business that decides what the business aims to do. McDonald?s purpose is to make money in anyway possible so that is what it does, it makes money. On the other hand the NHS?s purpose is to provide a good service to the public and not to make a profit so the businesses aims are to improve its service and to ensure that it survives (Breaks-Even). ...read more.

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