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
coordinate and control
monitor and review progress
re-plan as necessary
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...