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

Aims & Objectives of a business

Extracts from this document...


AO1 Unit 1 Business Aims Aims & Objectives of a Business When a new business starts up, they have a number of aims and objectives to look up to as a goal of the new business. An aim is when the business has set up some goals to achieve; it is a statement of purpose, meaning the aims are made for the business for a reason, e.g. we want to get �3200 from the next profit share etc Business Objectives are a clear view of targets which have been set out by the business. The business then plans out how to achieve these targets/aims by a number of ways to suit the targets, so then can be achieved to help the business stand. The Objectives are broken down so that they are easier to achieve. The objectives help measure the progress towards its aims. E.g. of common business aims, * To make profit * To increase market share * To provide services * To improve the quality of a product or service To Make Profit One of the most important objectives of a business is to make profit. ...read more.


The business must make a profit to grow and survive. Increasing Market Share Market share is the percentage of the total market sales that are made by one company or product/brand. The market sales figure is the total value of all sales made by all firms in the market However, not every one will be able to increase market share. For example, Cadburys is the market leader in the UK chocolate market. Dairy Milk is one of the brands which have an increased amount of competitors as this brand is doing so well that people are trying their best to become better than Dairy Milks Brand. Increased market share shows that a brand is succeeding against the competition. Providing Services Most of UK Businesses don't produce a product but instead they provide a service to their customers. Businesses such as banks, transport firms, marketing agencies and retailers are all examples of service industries. ...read more.


Some businesses change their aims and objectives over time to help them to survive or expand with the market area that they are in. For Example, British Airways British Airways changed its aim from making a profit, because of the tragedy on September the 11th 2001, to having an increase in security because they needed to make sure that they could keep their customers. So this business does their total best to keep on track of their aims and objectives which they need to achieve in order to make their business successful. Morrison's Morrison's aim is to offer outstanding value for money, an unbeatable customer service and a pleasant shopping experience. The mission statement for Morrison's is "The Very Best for Less" which basically means that all of their aims are shown as selling good quality products, for a low price. This shows us that the customers would be attracted to low priced products, just as long as they're good quality. Other supermarkets will then want to become more competitive as Morrison's are attracting more customers to their store. ...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

Here's what a star student thought of this essay

3 star(s)

Response to the question

This essay gives a good explanation to how the aims & objectives of a business are crucial to the success of a business and how they should be worked on to give that success.

Read full review

Response to the question

This essay gives a good explanation to how the aims & objectives of a business are crucial to the success of a business and how they should be worked on to give that success.

Level of analysis

This essay shows a lot of detailed knowledge in the main areas of aims & objectives of businesses and is able to use basic theory to provide reasoning to how the aims & objectives should be carried out. However there is a lack of analytical terminology used. This is very apparent and is such a shame, as if the author had included some kind of conclusion or even tried to analysis the different areas then much higher marks could have been awarded. Detailed use of examples does pick up some of the marks that are lost, these are gained by showing knowledge in a certian area in the subject. A must in Business essays is to give detailed examples as lots of marks are available for knowing about them. The actual theory behind a business move is desirable but not as essential to gain top marks.

Quality of writing

This essay is written to a high standard when compared to other GCSE essays. There are no obvious spelling, punctuation or grammatical errors. The author occassionally uses capital letters in the middle of sentences when they are not needed and this error could be viewed in a negative manner by the examiner. Some marks won for good structure could be lost for these small errors.

Did you find this review helpful? Join our team of reviewers and help other students learn

Reviewed by TheOptimisticRam 28/02/2012

Read less
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

    NVQ level 2 unit 2 Business Administration. Worksheet on Principles of providing administrative services

    5 star(s)

    It is also useful for checking on individual staff members and the amounts they claim. These records will build up to be a great source of knowledge as to where to go to get the best travel arrangements for your needs at the right price which will, in turn, help improve the business and save costs.

  2. Marked by a teacher

    functional areas in oxfam and sainsburys

    4 star(s)

    interact with each other so that Sainsbury's is able to function probably. If they do not interact with each other they will not meet their business aims and objectives. In addition if the business does not meet their business aims and objectives they may not be able to develop as quick, which means they may make a loss.

  1. Business Studies Edexcel Coursework

    Smaller businesses tend to stick to advertising their business on the side of their vehicles; e.g. a van displaying the company's logo, and contact details to potential customers. Business Cards Business cards are shared during formal introductions as a convenience and a memory aid.

  2. Functional Areas within McDonalds

    they need the research and development department to carry out research on the customers and other products. Then once the idea is put together they will need to speak with the production department as they will create this product. The marketing department will also communicate with people and other organisations

  1. IGCSE Businesses Studies Revision Notes

    falls, unemployment increases, businesses lose demand and profits Slump - Bottom and worst part of a recession, unemployment very high, prices falling, many businesses failing Government economic objectives: Low inflation Low unemployment Balance of payments Economic growth The main economic policies to achieve the objectives are: * Fiscal policy *

  2. tesco aims and objectives

    food and drink and this shows they met their aim and objectives of retaining loyalty. Grow Sales Another one of Tesco's objective is to grow sales. Tesco buy in bulk, this means that one person from Tesco buys millions of products but they get it cheaper.

  1. Fish and Chip Shop Business Plan Outline

    A seating area will increase costs because it needs extra space as well as furniture, toilet facilities, crockery and so on. You may also need to hire additional staff. There is a specific range of equipment you'll need, but you may be able to buy that from an outgoing owner to cut costs.

  2. Case Study of the "Life is Good" clothing company.

    This has to remain in control in order to achieve the desired goals. Few of the factors indicating problems with an out-of-control ego are: 1. Consistently poor morale. 2. Constant communication breakdowns 3. Bad hiring decisions 4. Acquisitions or mergers that go sour.

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