Why businesses do sets objectives and aims

Business objectives are the stated, measurable targets of how to achieve business aims. A mission statement sets out the business vision and values that enables employees, managers, customers and even suppliers to understand the underlying basis for the actions of the business.

Business Objectives

Objectives give the business a clearly defined target. Plans can then be made to achieve these targets. This can motivate the employees. It also enables the business to measure the progress towards to its stated aims.

M1 – in merits work I am going to Compare and contrast the ownership, aim and objectives of businesses.

Introduction

In this report I will be writing about Oxfam and Thorpe’s Park .I will also be writing about Thorpe Park’s contrast the ownership, aims and their business objectives. A business aim is what the business is aiming for to and a business objective is how and what they are going to achieve there aims. Business objectives should be always SMART. This stands for Specific, Measurable, Achievable, Reliable and Time bound.

Ownership of Thorpe Park’s and Oxfam

Oxfam

Oxfam’s is a charity organisation which is run as a “Not for profit” which could be voluntary sector or a business. Oxfam is also in the tertiary sector however; instead of just exchanging or selling products, they also provide a service to other charities. They also do exchange, buy and selling cloths at an incredibly low price. Oxfam’s purpose is not to make a profit. Its purpose is to earn money for charities so they can make the world a better place. This means that instead of keeping the money they earn for them selves they donate it to various charities. Additionally if Oxfam does not keep the money they earn they cannot afford to pay all of there workers, therefore some of the workers are voluntary.

Business aim: Every business has an aim and also wants to achieve when they start their business.  A business aim is a long-term goal for a business.

Objectives: however business has an objective as well. A business objective is a target, which a business can set for there company to help them achieve there overall aim for the business.

Thorpe Park

Thorpe Park’s aim:

• To be the global leader
• To improve the performance of Thorpe Park’s.
• To appeal to more customers  
• To be the global leader in location based branded family entertainment

Target ones business objectives may be

• Improve the customer service of Thorpe parks by putting the workers on a 2-day course of how to deal with customers politely and how to be helpful. Then at the end of the two days, test each employee on what they have leant on how to deal with customers.