Business Aims and Objectives
Group Activity – Bloomsbury Regional Technical College
Scenario
Knowing that you are taking a qualification at Bloomsbury Regional Technical College, you have been approached by several friends who would like you to help with the setting up of their businesses. You enjoy business because the subject constantly changes and you can see the relevance of all that you are learning. You can also apply what you are learning to different situations.
a. Alice is thinking of setting up a small restaurant in a village two miles from the town centre. The setting is attractive. Her restaurant will only cater for a maximum of 36 customers, for whom she wants to serve gourmet food.
b. Perminder wants to create a small charity that locally supports children with cerebral palsy. She represents a network of 30 parents who experience the illness and she wants to make sure that the charity can provide them with many of the resources and experiences they require in order to make their lives more comfortable.
1. You meet both Alice and Perminder for a cup of tea. Explain why organisations need aims and objectives. (P1)
Every organisation needs to set aims and objectives to be able to run the business more easily and effectively. Objectives are more like goals, it’s more realistic than aims. Objectives are far more sensible and achievable. Aims are what an organisation wants to achieve. These are long-term plans, probably over next 3 to 5 years. This allows the business to move forward. Objectives set out how the organisation will meet their aims.
2. Describe to Alice and Perminder how they could use their aims and objectives. As you do so, explain the purpose of setting SMART objectives. (P2)
An obvious objective for Alice and Perminder is to achieve goals. Precise, measurable targets will help you do this. You will have to concentrate on doing your best as you achieve one goal at a time. You should set these goals using SMART objectives. *
Scenario
Knowing that you are taking a qualification at Bloomsbury Regional Technical College, you have been approached by several friends who would like you to help with the setting up of their businesses. You enjoy business because the subject constantly changes and you can see the relevance of all that you are learning. You can also apply what you are learning to different situations.
a. Alice is thinking of setting up a small restaurant in a village two miles from the town centre. The setting is attractive. Her restaurant will only cater for a maximum of 36 customers, for whom she wants to serve gourmet food.
b. Perminder wants to create a small charity that locally supports children with cerebral palsy. She represents a network of 30 parents who experience the illness and she wants to make sure that the charity can provide them with many of the resources and experiences they require in order to make their lives more comfortable.
1. You meet both Alice and Perminder for a cup of tea. Explain why organisations need aims and objectives. (P1)
Every organisation needs to set aims and objectives to be able to run the business more easily and effectively. Objectives are more like goals, it’s more realistic than aims. Objectives are far more sensible and achievable. Aims are what an organisation wants to achieve. These are long-term plans, probably over next 3 to 5 years. This allows the business to move forward. Objectives set out how the organisation will meet their aims.
2. Describe to Alice and Perminder how they could use their aims and objectives. As you do so, explain the purpose of setting SMART objectives. (P2)
An obvious objective for Alice and Perminder is to achieve goals. Precise, measurable targets will help you do this. You will have to concentrate on doing your best as you achieve one goal at a time. You should set these goals using SMART objectives. *