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The main purpose of setting aims and objectives for a business is to give the organization focus. Other purposes are to achieve the efficiency and to tell the business community what the organization does, now and in the future.

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Introduction

AIMS - the long-term visions or goals of a business OBJECTIVES - specific, measurable targets which help achieve the overall aims of a business The main purpose of setting aims and objectives for a business is to give the organization focus. Other purposes are to achieve the efficiency and to tell the business community "what the organization does, now and in the future". Examples of aims and objectives: a) Survival - it becomes very important for companies when they face difficult periods of trading. At some point many organizations will face difficult times when they have to consider closing down. When survival is the only aim, the organization may have to lose members of staff or cut costs. Survival is a major objective for every sector of ownership and also for the primary sector of industry because at the moment this sector as a whole is declining. Although there are areas in which profit can be made such as an organic food production, there are no longer advantages to start a new business in the sector where the output and the trend for farms is going down and is being replaced by fish farms and organic food farms. ...read more.

Middle

Growth is an important objective for every sector of industry as well as for every sector of ownership. Every business would like to get bigger and bigger in terms of size or scale because in addition will make a greater profit. Although voluntary sector do not exist for profit, its objective will also be 'growth' because there is a need for its services. d) Increased Profits - means selling product or service with the largest possible difference between the cost of production and the price for which it is sold. Profit maximization relies on efficiency. It means making the best use of employees, premises and equipment. Increasing profit is a major aim only for the private sector of industry which is owned by individuals because without making a profit, businesses would not be able to survive. Organizations in the private sector can increased their profits by selling products on price which covers all the costs of the production and is competitive, otherwise stock will remain unsold. The public and voluntary sectors of industry do not need profit to survive because they are sponsored by the government. ...read more.

Conclusion

because this sector is owned by individuals who are seeking to make as much profit as it is possible. If a company will increase its market share, the shareholder will be then able to for example sell his/her shares for the higher price than he/she bought them. Also by increasing market share, an organization will beat the competitors because will attract more customers. A good example of such company can be Easy Jet. g) Building Wider Business Networks - many businesses operating across the world will have relationship with thousands of the businesses, both as customers and suppliers to the business. As organizations develop, will seek to continue their relationship and improve them as much as possible. Building wider business links is important objective for most of organizations in every sector of industry and every sector of ownership. Building wider links is essential for companies because thanks to that, they get a chance to promote themselves to wider community which helps to attract more customers and to make a greater profit. A good example of such relationship between two partners is BP connected with Marks & Spencer where customers are able to buy Marks & Spencer products on BP stations. ...read more.

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