Aims and Objectives
All businesses have aims and objectives. For a business to operate successfully they would want to achieve these. A business aim is a long-term goal. Some examples of these incorporate: making a profit, improving the quality of a product, becoming environmentally friendly, to survive in the long term, maximise sales, being able to compete with rival companies, provide a good service and providing charitable or voluntary services.
Business objectives are targets chosen by a company so they could attain their aims. Some examples of these include: improving products, providing new and more services as well as producing new goods.
The business aims and objectives of Richer Sounds:
Richer Sounds want to provide the best possible value for money for their customers they also want to give their employees better paid jobs when they work in stimulating and equal environments. Richer Sounds also want to be profitable which will result in a growth in the business also survival. Richer Sounds have also outlined objectives and want to achieve these over the next year. Richer Sounds’ objectives are to strengthen the business and increase profitability. They also aim to increase the sales of plasma TV’s and LCD’s as well as keeping the business fun. One another aim is to maintain the level of customer service and control their costs to keep budget levels.
The business aims and objectives of Corus:
Corus aims to provide a market for recovered steel packaging in the Corus steel making plants; they also aspire to facilitate recycling. Cours want to work in a partnership with local authorities and waste management companies to increase cost-effective packaging recovery. They also want to provide strategic advice and technical information to the public and private sector on the steel recovery-packaging scheme. Corus also want to promote the recovery of steel packaging between consumer and local authorities, commercial sector. Corus aims to create valued added products and services to promote steel intensive commercially viable buildings. Through advanced design and Corus will improve the of life in society whilst enhancing the credentials of the built environment. An important area for Corus is to become the best supplier to the best customers and to ensure growth.
The business activities that enable Richer Sounds to achieve its business aim through their business objectives:
Richer Sounds will achieve their target to become more profitable by providing new services. As Richer Sounds want to generate more revenue they sell warranties with their electrical goods and repaired electrical goods. An important aim of the company is customer satisfaction, which is achieved by improving their customer service. The company also aims to open four to six stores in the current year through improving their sales. Another aim of Richer Sounds is to control their costs, which are achieved by not introducing too many developments that would increase their costs. Richer Sounds also provide stores in some more deprived areas that have cheaper rent, which has lowered Richer Sounds’ costs of obtaining those stores. Another aim of Richer Sounds is to develop the audiovisual home cinema range; they achieve this by providing extra features to interest their customers such as improving the size, sounds, shape and convenience.
The business activities that enable Corus to achieve its business aim through their business objectives:
The first aim of the company is to become the best supplier to their customers through improved reliability, strategic partnerships and developing innovative approaches to market. Another one of their aim is to adopt world-class processes and Corus aim to achieve this by using continuous improvement to eliminate waste and create value. Corus also aim to ensure selective growth, which is attainable by the commitment of passionate people. An involved, motivated and skilled workforce will deliver the Corus Way.
Activities – aim and objectives
The activities that Richer Sounds and Corus carry out are associated with their aims and objectives in different ways. For example Richer Sounds want to improve their profit for their long-term future. By this they could sell more products other than mp3 players and hi-fi’s but items like Plasma TV’s and LCD’s. Richer Sounds want to review what they do and make it better. They review their products and services. Richer Sounds also sell excellent value Hi-Fi’s and related equipments to their customers, together with excellent customer service. These will help them achieve their aims.
Richer Sounds as well as Corus will need to sell far more than their competitor; once they do this they will become the leading company. They can also sell more products than the previous year, furthermore produce new goods or provide newer goods and services. Both these companies do these activities to achieve their objectives. Another is to improve their products, this will results in higher sales and more profits.
