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Aims And Objectives

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Category: Business

Autor: anton 11 November 2010

Words: 435 | Pages: 2

Aims and Objectives

Every business has aims that they wish to achieve, they might be overall goals and purposes that the business was set up to fulfil. Aims can therefore be seen as not only long term, but in some cases, almost impossible to reach, Heinz aims for its tomato sauce to be ‘the world’s favourite ketchup, on every table’ (every table; total Customer satisfaction). But this doesn’t the organisation from trying to reach the aim, and from always working towards it.

Typical aims of a business might include:

• Making a profit

• Providing goods or services to the local or wider community

• Maximising sales or improving the quality of a product service

• Being environmentally friendly

For my chosen business which is a local newsagent in Heston Hounslow, which is located in west London, its aims is to provide enough income to support the owner and his family. Therefore he is a soul trader.

Cameron balloons LTD, the large business which I will be comparing it with the newsagent, it is located in Bristol. Their aim is to survive or break even and to make a profit for its shareholders.

In order for the business to achieve its aims, they must identify and set specific practical objectives. These are target which must be met if the business is to achieve its aim. Objectives should be measurable; many objectives are set as SMART objectives (specific, measurable, attainable, relevant and time-related)

The cycle of setting and reviewing objectives goes through the following stages:

• set objective

• plan how to reach objective(strategy)

• communicate strategy to team members

• organise resources

• coordinate and control

• monitor and review progress

• re-plan as necessary

• achieve objective

• set a new objective

For my chosen business, a local newsagent, the owner will have to do the following targets to reach its aim, ‘to provide enough income to support the owner and his family’.

• To increase sales of magazines and newspapers month by month by a additional of 50%

• To increase sales of confectionary and linked products

• To advertise to attract and increase customer members

• To provide a good relationships with customers to keep them coming back

In order for Cameron balloons to reach their aim, ‘to survive as a business and to make a profit for its shareholders’ they have set themselves target of –

• To increase the production 500 hot air balloons per year

• To hit a turnover of Ј10,000,000

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