B. The aims and objectives of “Errol Anderson Motors” my sole trader are: To survive because if the business doesn’t then it will go bankrupt and will have to close down. In order to survive the business will need money. Errol can get a loan or do anything else to get money but eventually he will have to pay it back. To do this he will have to make a profit. If Errol wants to make a profit then he will have to sell as many products as possible and repair and service as many cars as possible. He may want to concentrate on the local community as he currently is by keeping all his existing customers and attract more from the local community. Errol’s aim is to attract more customers from local businesses. To do this he may need to advertise. The customers wouldn’t come unless they think he is providing a good service at a reasonable cost. Errol must make sure that the services he provides are at a high quality.
Errol’s business is now well established and his aim is to expand to make more profits. He needs to have enough money in order to expand but it depends on what he wants to do.
C. The aims and objectives of “Tesco” a PLC are below.
A business often sets out its main aims in a “Mission Statement”. It may also include a view of how it sees itself which is known as the business ‘vision’.
Tesco is one of the UK’s largest independent retailers and the largest food retailer. It has recently expanded into Central Europe and Asia. It now offers retailing services including internet shopping and personal finances.
Tesco’s mission statement says that there core purpose is “To create value for its customers, to earn their lifetime loyality.
Their aims are to make Tesco satisfying to work in by giving the staff opportunity to be themselves, to employ people who reflect the diverse nature of society by respecting and trusting each other, to play a positive role in the community, to
contribute to the capabilities of tomorrows workforce, to protect the environment using its commercial strength, to
ensure high standards in their entire fresh own brand products. Tesco has fulfilled all these aims.
Tesco’s target is to expand their sale of organic produce to £1 billion over the next 5 years.
Tesco’s aim is to make more profit by expanding more and more, there aren’t many things left Tesco can do to expand as it has done most of it.
D. Tesco is a very large business and Errol is a very small business which is why they don’t have much in common also because they are different types of businesses.
There are only three aims they have in common. These are that they both want to make a profit and they both want to expand. They both want to provide their customers with good quality services and provides.
Tesco is concerned about the environment, it helps charities and has recycling materials. Tesco also helps schools by giving “Free computers for school vouchers” to customers if they spend £10, this is only for a few months a year. Tesco does this because it wants to contribute to the capabilities of tomorrow’s workforce while they are still at school. Errol doesn’t have a aim about corporate social responsibility. Tesco’s aim is to make it a satisfying place to work where as Errol only has 1 worker and so isn’t to bothered.
E. I would suggest the followings changes to the aims and objectives of “Errol Anderson Motors”.
He should have an aim about trying to be environment friendly and help it to perhaps by doing some recycling and not wasting many natural resources. Errol can also let students come on work experience like he himself did. This way he would be helping the community and would have somebody to help him when he expands because he can’t afford to have many workers. Errol should try and save money to expand by cutting down all unnecessary costs, using energy efficiently etc.
Errol wants to provide a high quality service so he should improve the facilities available to the customers. In some cases in may be able to do the job right away and so the customers would wait while he’s doing the job. Errol doesn’t have a waiting room or a little area where the customers can comfortably wait.
I would suggest the following changes about Tesco’s aims and objectives.
Tesco’s mission statement states that their core purpose is: “To create value for its customers, to earn lifetime loyalty”.
If Tesco wants to achieve this then it will have to focus more on its aims and objectives and how they are going to meet this because at the moment there is only one aim which may help. Tesco’s aims are mostly about the community and environment and their employees. I would suggest Tesco to cut down some of these aims and concentrate more on the customers if they want to make more profit. They should consider their products and services. There aim could be to survey the customers maybe by getting them to fill in a questionnaire. This would enable them to find out what the customers think and what they dislike and want from Tesco. Tesco can then go ahead and fulfil there wishes if its possible. This would help them achieve their core purpose.
