Why are Aims & Objectives important in a business?
In a business when a number of brains are working together, there are always different views on a certain aspect, therefore aims and objectives are used to help them focus on one view on the aspect which either seems right or is right. Aims and Objectives help an organisation grow; it is used as a guideline, a plan and a goal. What the organisation is heading for and how it is heading there and where it is heading? All the answers for these questions are answered by Aims & Objectives.
The Main Objectives of a Business are: -
Sales – Sales revenue is the total amount of money a company has earned by providing their service or selling their stock.
Growth – An increase in the Business capacity to produce more stock or provide better or greater service.
Profit – Residual value gained from business operations after cutting out expenses such as stock cost etc.
Customer Satisfaction – Providing service to customers to their satisfaction level such as hygienically clean place or high quality food.
S M A R T
Before a business can set objectives it is important that they follow the SMART criteria. •Specific – Detailed and Exact
•Measurable – Targets should be measurable
•Achievable – Something that can be achieved
•Realistic – Targets must be realistic, so that they can be met •Time Specific – That can be achieved by a deadline
Aims & Objectives of McDonald’s’ – “it’s what I eat and what I do…I’m lovin’ it” Plan – Their plan is to deepen their connection with the customer by providing great service ad experience “in every restaurant, every time.” Their usage of different activities allows McDonald’s and the Customers to have a relation between them.
•Use a Systems-based approach to understand how our supply chain impacts and is affected by the natural and social world and to help us find solutions. •Maintain a long-term view when supply planning and setting expectations. •Combine a global perspective with locally-developed responses that meet the local needs and generate on-the-ground results. •Base our strategies on the best science available.
•Work in partnership with our suppliers to promote continuous improvement. •Balance our long-term responsibility goals with the near-term need to perform in a competitive market.
•McDonald’s is a leading global foodservice retailer, with more than 30,000 restaurants serving nearly 50million people each day in over 119 countries and territories.
•There are more than 1250 restaurants in the UK from which 465 are run by franchisees and 783 are company owned.
•The McDonald’s Corporation head office is in Oak Brook, near Chicago, Illinois, USA.
•Over 70% of McDonald’s worldwide restaurants are owned and operated by Independent Franchisees.
To ensure that major stake holders of McDonald’s e.g. Customers and employees are kept satisfied Their main objective is to provide chances to its customers and its employees not only with money but with help and support. McDonald’s’ try to offer opportunities to its people by providing them with superior training and equal opportunity (Men: Women – 56:44) to its employees and great satisfaction levels for its customer. Helping poor with their needs has always been an issue for McDonald’s, their concern towards charity grown into disaster relief organisation, fundraising organisation and many other organisations and is also believed by McDonald’s that their “restaurants depend on their communities”. By the end of 2005 McDonald’s employed 42,963 people and over 24,000 were employed by McDonald’s Franchisees. Noticeably there are more teenagers working at the restaurants allowing the teenagers to have a good experience and work on their communication skills and meet new people everyday. Another Objective is Diversity Development.
•McDonald’s Objective is to promote and sustain a working environment...