This report is about aim and objectives for businesses, what mean SMART objectives, why is beneficial for businesses to set aims and objectives and also what kind of aims and objectives has TESCO as a supermarket.

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Aims & Objectives

To Mr Kobie Sandstone – manager of Enterpreneurs

From Aleksandra Pluta – Assistant Advisor

This report is about aim and objectives for businesses, what mean SMART objectives, why is beneficial for businesses to set aims and objectives and also what kind of aims and objectives has TESCO as a supermarket.

20. 09. 2011-09-24

Aims           (P1)

Business activity is focused around the achievement of business aims.

A business aims is a target or goal that business want to achieve in the future. It is a statement of purpose, for example: we want to grow the business into Europe.

Most business share their aims with the staff to motivate them, as they can see how their hard work helps the company. It also enables all employees to work towards the same goals and outcomes. The settings of the aims is usually done by the director, managers and employees which means that they all have input and, it is hoped, will agree with the aims.

The aims of business:

  • Most businesses aim to make profit. Some business try to make profit as much profit as possible, others just try to make a satisfactory profit.
  • Survival – new business are often risky because they have a less experience. It also takes time to build up regular customers. Survival might also be an aim if a business has problems such as low sales. This can happen if the economy is in a recession
  • Maximising sales or quality – some business aim to maximise sales. This can put the business in a strong position in the market. Some business try to maximise the quality of their products and how they are made. This should lead to fewer production faults and better products.
  • Providing products – some businesses aim to provide goods and services that people in the local area need. For example: a hairdressing salon or a local bus service. Other businesses provide goods or services for all people in a country, such as electricity. Some businesses sell their goods worldwide, such as Coca-Cola.
  • Providing service – Many businesses try to offer a better service than the case in very competitive markets, such as supermarket or mobile phone companies. They might try to offer a wider variety of products or make it easier for customer to buy them.
  • Offering a charitable or voluntary service – some organisations are non-profit making, such as Oxfam. They aim to sell products and donate the money to worthy and needy causes, such as helping children, older people etc.
  • Environmentally friendly – some businesses are concerned about their impact on the environment. They try to protect the environment by keeping pollution or waste to a minimum such as The Body Shop.
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Objective

Business activity is focused around the achievement of appropriate business objectives. Objectives are more precise than aims and can be measure. It is detailed picture of a step you plan to take in order to achieve a started aim. It is a sub goal, a short-term step moving toward achieving a long-term goal. They are smaller, more specific targets that help to achieve an overall aim. We want to achieve sales of £10 million in Europe market in 2012.

Objectives give the business a clearly defined target. Plans can then be made to achieve these targets. ...

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