Differences Between Aims and Objectives

Extracts from this essay...

Introduction

Aims and Objectives Differences The differences between a business aim and a business objective are that aims are longer term goals such as maximising profits over a set time period. Objectives are a lot more specific to aims were they are targets which are set to help achieve the overall aims of the business. Aims are like smaller goals that a business sets to help achieve their overall objectives. A common business aim would be to expand into other countries. The objective would then be to reach a profit of 100,000 within the first two years.

Middle

A SMART objective will have to comply with the following criteria: Specific - Objectives should be specific and clearly state what the business hopes to achieve. For example a common business aim is increasing their profits. Measurable - The business should be able to measure whether they are meeting their set objectives. For example if a business's profits increase by %15 then they have reached their objective. Managing objectives is just as important as setting an objective. If it is measurable Achievable - The business should set both achievable and attainable objectives.

Conclusion

Timed - When does the business hope to achieve their set objective. A well-mannered timeframe is the key to the business actually reaching their objective. However not all businesses seek profit or growth. Some businesses have other objectives such as ethical and socially responsible objectives. Businesses such as Co-op and the Body Shop have objectives which are based on their beliefs of how one should treat the environment. Public sector businesses don't only run to make a profit but also to provide a service to the general public such as a cheap and easy to access to public transport service.

The above preview is unformatted text

Found what you're looking for?

  • Start learning 29% faster today
  • Over 150,000 essays available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Over 180,000 student essays
  • Every subject and level covered
  • Thousands of essays marked by teachers
  • Over 180,000 essays
    written by students
  • Annotated by
    experienced teachers
  • Ideas and feedback to write
    your own great essays

Marked by a teacher

This essay has been marked by one of our great teachers. You can read the full teachers notes when you download the essay.

Peer reviewed

This essay has been reviewed by one of our specialist student essay reviewing squad. Read the full review on the essay page.

Peer reviewed

This essay has been reviewed by one of our specialist student essay reviewing squad. Read the full review under the essay preview on this page.