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

aims and objectives of bussiness

Extracts from this document...


Aims and Objectives Shahzaib Amjad unit 1 task P3 Aims What is an Aim? The long term visions or goal of a business is known as Aim. The aim of the business could be to make larger profits. It strategies therefore, could be: * To increase sales through extra advertisement; or * To cut employment costs. Different form of Aims: Below are some different forms of aim that can be set for a business. Profit Maximisation- to increase profit by increasing sales and reducing costs. Not every business has profit maximisation as it aims. Public businesses, such as. Colleges and schools would not have profit maximisation as its aim. Private businesses, such as Tesco and Asda, would have this as its aim.. Survive- if trading is difficult for some reason, then making good profits may not be realistic. In this situation, the business aim just to survive, until times improve. For example new businesses and small businesses should be worried about this aim. Break-even- this mean making enough money to cover the total costs involved in producing and selling the goods or services and running the business. There is no profit, but there is no money either. Growth- it sells more goods or services. This may mean expanding by opening other branches or buying out a competitor. ...read more.


So, the purpose of setting objective is so people got smaller goons to achieve. Smart Objectives: A problem with some objectives is that they are not very clear or specific. This type of problem can be overcome by setting SMART objectives which are: Specific: there is clear definition, often including a number, for example saving �20 a week. Measurable: this means achievement can be checked. Banking your savings means your bank statement will record and measure your achievement. Achievable: this means you can attain your target if you stretch yourself a little- saving �20 a week may be achievable with out having to make too many sacrifices. Realistic: this means that target is sensible so that you stand a chance of achieving it. You could not �20 a week if you did not have a job that paid at least that amount. Time-Related: every object should have a date for achievement or review. therefore, you could set a time limit to review your progress after three months. For example you may decide to join gym but then only go when you feel like it; you may decide to save for a holiday with out setting a specific amount. In both case you may fail to fulfil your aims. This type of problem can be overcome by setting SMART objectives. ...read more.


So their aim is to expansion and growth. * The aim of Subway is also to match the number of outlets of the biggest fast food retailer in the country currently,(possibly McDonalds) which comes under the umbrella of growth, but also market share possibly, because they want to keep up with the competition. What objectives subway needs to achieve their aims? * A business needs to take some steps to achieve their aim e.g. open three stores next week. * Subway start to making three new stores every week. This will be help to achieve the aim of grow their business. * Subway needs to open more branches to give extra services to people and grow their business. Purpose of setting aims and objectives: All businesses set some objectives to get their aims. It is important to set objectives in business. Objectives are more specific them aims. Objectives are goal which are set to help to achieve on the whole aims of the business. Objects are communicated to staff and departments who then know which targets they must achieve for the business to achieve its objectives. Why subway set aims and objectives? Subway set aims and objectives to get what they want. And Subway knows what they want to achieve from their business, what they are aiming for. It is important to set objectives in subway in order to keep focused so as not to wasting time, money and other resources. ?? ?? ?? ?? Shahzaib Amjad ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

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

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 AS and A Level ICT in Business essays

  1. Business Aims and Objectives.

    Another of Tesco's aims is to look after their customers as customers are very important because they provide income to the business. Also Tesco need to do their best to deliver good products at a cheap price to their customers and the public.

  2. Ao1 : aims and objectives

    Examples of aims may include: * To make profit * To survive * Provide competitive service * To be environmentally friendly * To be charitable, voluntary or be community involved * To maximise sales All of the above are general aims, which most businesses wish to achieve.

  1. 1. Explore the role of management in achieving organisational aims and objectives.

    Most company's aims and objectives can be found in their mission statement which outlines their intent as a company. They could also be sourced in places such as annual reports as well. A way that many businesses set to achieve their aims is to create SMART targets.

  2. E2: describe and explain the objectives of the business

    Public limited companies are among the largest and the most successful organisations in the UK. Bridgestone is the public limited company. As a Public limited company, Bridgestone is able to sell shares through the stock exchange and therefore should they need to raise more capital they can encourage the general public to purchase.

  1. My business has aims and objectives. My first aim is to get my business ...

    Eventually I will get a higher profit margin. This has mass appeal and is good for people who have a lower income. By maximising my sales/profits this means that my business is doing well and it is a successful business.

  2. Aim of TescoOne of the company's aims was profit maximisation but as they have ...

    A small business may plan just to survive and give the owner a living. A large organisation may plan to expand and aim to dominate a market. Either way those organisation need to plan for the future to take control on what is happening from day-to-day basis.

  1. Articles on franchise

    However, the market is not very tolerant for these inexperienced entrepreneur to learn how to operate a new business. If you can't survive in the market place you will lose your money, credit, home, reputation and in some cases your family. Thousand of U.S. business men experience this every year.

  2. E-commerce case study - Online Music Bussiness.

    Record companies These exist to facilitate the artist talents. They do this by providing money and organisation backbone to help in recording, manufacture and promotion of an artist? recorded work. They risk greatly financially when they sign a new artist, as there?s a chance that a particular artist may not succeed.

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