The company I have chosen to investigate is Jaguar.

Authors Avatar

Aims and Objectives

The company I have chosen to investigate is Jaguar. Like every business Jaguar’s aims and objective is to achieve a working environment capable of providing for continuous improvements in Quality and Cost. The aims of Jaguar are to also continue with the excellent quality in their cars.

What Jaguar really wants like every business are profitability, company security, and job security.

 Like every business these are the aims that Jaguar include

  • Make a profit
  • Provide goods or services to the local or wider community
  • Survive as a business or expand
  • Maximise sales  or improve the quality of a product or service
  • Provide a highly competitive service
  • Provide charitable or voluntary services
  • Be environmentally friendly

Profitability

Profit is the difference between what a business has earned and what it has spent over a given period. The profit is the amount you would be able to keep, or re-invest in the business. E.g. when Jaguar wanted to bring out a new car they carried out market research to see what kind of car the public wanted and from what they found out was that the public wanted a nice new cheap, affordable car. So now the had a rough idea on what the car was going to be like so then they decided to design this car that they new they from the market research they would make a lot of profit on. And now that they have bought this car into production they are making a lot of profit and from looking below you can see what Jaguar will spend their profit on;

  1. Raw materials

  2. Wages and salaries
  3. Electricity and power
  4. Factory and office costs
  5. Money for advertising

Raw materials these are the materials you will need whilst making your product, without the raw materials you will not be able to produce the product

Wages and salaries is the money you will need to pay of the employees employed. If you get late paying the

Electricity and power money will be needed to pay of electricity and gas bills.

Factory and office costs will be needed to pay for things like fittings for the factory and tables and chairs etc.

Money for advertising is money you will be using towards advertising the product that is being produced.

Provide goods or services to the local or wider community

All businesses either provide goods or services. A manufacturing company will provide goods for example a company will make goods and sell them on to other companies where as companies like banks will provide services e.g. financial services. Some companies or organisations combine a mixture of both, goods and services. This company will sell goods to the customers and they will also sell services. Some companies for example will provide goods and service locally like a local newsagent or doctors. Or other companies will provide goods and services internationally like Jaguar.

Survive as a business or expand.

 

If a company will have a bad year and if the profits are low the company will try its hardest to survive and the only way the company might be able to do this will be by trying to increase the profits by reducing costs. A lot of people will do this by reducing staff and cutting management jobs to save money.

If you want to expand a business you will have to make a decision of whether to expand within the country or whether to go and expand worldwide. For example Jaguar decided to expand across the country and now they have four plant across the England they have;

  • Browns Lane, Coventry
  • Whitley, Coventry
  • Castle Bromwich, Birmingham
  • Halewood, Merseyside

Some companies grow larger by buying into other companies or even just by joining with another business. This is the most rapid method of expansion.

 

Maximise sales or improving quality

In a business there are two main areas of providing goods and services, the quality of their goods and services and the price they charge for them. In a product the quality relates to how long the product will last and how well it was made. For example Jaguar sells all of its cars because of the quality that is put into the production of it and also because of the expectancy of the product. If a business says it wants to maximise sales what this business is saying is they want to sell as many goods as possible.

Provide a highly competitive service

If a business says that it provides a highly competitive service what this company means is that they have cheaper products than the competing store. For example Peugeot do have cheaper cars than Jaguar but the quality in Jaguar cars are much better than the quality you will find in a Peugeot car. Usually companies who say this often has cheaper quality and the goods and services they offer are often quite poor where as the business with higher prices have the best quality that a business can offer. The businesses with competitive prices often don’t really care about loyalty and being spacious for example I have been round the Peugeot’s and Jaguar’s track and I found that I didn’t really enjoy going round Peugeot’s track as much as I enjoyed going round Jaguar’s track. I think this is that Jaguar’s track is quite spacious and that the cars are produced much slower than Peugeot’s. This is because Jaguar only make cars because they be specially ordered rather than Peugeot they just make a load of cars a day and just hope that they will sell. So supposing if the cars that Peugeot produce don’t sell they will just have to reduce the price or just keep the car standing until some one decides to buy a Peugeot.

Providing charitable or voluntary service

Some companies do not offer charitable or voluntary service but most businesses often do as they think that it will build up a better reputation for them, in this case I think that it will be better for the company’s name and reputation. I am saying this because I think that more people will like the company if they are doing events for the community for example running events. I think that if everyone offers voluntary service this would be very good for the community and for the reputation of the business. When I went to Jaguar I was very pleased that they offered to show us round the track even though they knew we weren’t even at the age to drive let alone buying a car. I think that if every company offered to show people round like Jaguar did the customers will be very happy like I am.

Being environmentally friendly

 A lot of businesses care about being environmentally friendly, as they know a lot of the community care about the world around them and I think that many businesses think that this will be good for publicity. And I think that no business wants to lose business. The main areas of being environmentally friendly are:

  • Using environmentally friendly material, and reduce wastage
  • Designing products for re-use and using recycled packaging
  • Disposing all the materials properly e.g. solvents etc.
  • Reducing all the energy and water that’s used e.g. switch of all the lights after use and shutting all the doors and windows after using.

 

I think by following these areas a business will attract more customers. I also think that they will save a lot of money and they will have a chance of winning more awards. For example Jaguar have received an award from Severn Trent because Jaguar designed this piece of machinery from which they will save and recycle their water from. I think that once people who care about the environment here about this Jaguar will prove more popular with their customers than they already are.

Looking at different departments

Finance

Finance within a business is the most important job role of all. Finance is the most important job role because the person who does all the finance work has to control all the money that goes in and out of the business. If all the finance is being done correctly then the manager of the business will be able to tell you how much money the business will have received for every product or service that had been provided. If this has all been done correctly this will mean that the manager will be able to tell you how much you have paid for all the raw materials, the staff that has been employed and other general expenses e.g. paying for all the electricity and energy. The finance will also have the job of checking all the money that is owned to your business from other people, and they also will chase up all the people that have been late to pay for the product or service.

The finance will have to control all the money situations through out all the sections in the business. The finance will set all the budgets for the different departments and will make sure that each of the departments will stick to their budget. Jobs like this will have to be checked regularly. The finance will tell each department whether they have survived their budget and whether they haven’t. Finance will also tell them why they haven’t survived the budget.

The finance department is very important for the staff to, as their wage will be coming from the finance department. Their wage no matter what has to be paid.

The main purpose of having a finance function is to

Keep all the financial records like all the receipts so they can then see whom they have paid and whom they are waiting for them to pay.

Prepare final accounts from theses records, they have to do this, as the law requires it.

Finance monitors the income of different department against their budget. This means that finance will have a look at each departments budget and see whether they have got a lot of money and if they haven’t got a lot of money they will inform the department.

Finance will provide all the managers will the latest on all the financial information about the businesses performance.

Finance will have to provide the employees with all the correct wage along side a wage slip. It is illegal for the finance not to pay the staff for their work.

Another important job for the finance is to pay off all the suppliers they own money too, if they are late to pay off all the money then supplier could refuse to supply the materials etc to the company.

Finance will have to control the levels of debt owed to the company.

Advise all the senior managers on all the major decisions that will involve the finance.

There will be certain activities that the finance will have to cover. The activities will be grouped into three main areas such as;

Join now!

Preparing accounts

Paying the wages and salaries

Obtaining capital and resources

There are many job roles within the department but some of the job roles will depend upon the

  • Size of the organisation
  • Whether the wages and salaries are paid by the company or by an agency.

This is an example of a typical job role within the finance department.

Financial director

The financial director will tell all the senior managers of the Jaguar Company the overall financial organisation of Jaguar. The financial jaguar will also look at ...

This is a preview of the whole essay