Sir Jhon Smith

Unit 2 business: Aims and Organisations (Part 1) * It is important for business to have aims and objectives because to keep them moving forward and expanding by setting aims it keeps the business motivated to achieve. Objectives are the little steps that help the business achieve its aims, without objectives a business would not meet its aims and without aims the business would not survive or grow. * Business aims are a business’s main goal that they want achieving and a way of giving a business a direction an example of a business aim is there are the obvious aims like to survive, to be profitable and to expand. * Business objectives are the little steps it takes to succeed there aims .These can be SMART. SMART stands for......... * S = Specific * M = Measurable * A = Achievable * R = Realistic * T = Timely * An example of a SMART objective is setting small objective for your staff. * Therefore, the main difference between aims and objectives is that an aim is a long term final destination where as an objective is a short time step to meet that aim. | Private Sector | Public Sector | Non-for-profit / Voluntary sector | Business Examples | Ford Motor Co | Hospital | Help for heroes | Purpose | To provide goods and service to customers at a profit | To provide a service to the public | To help people without making a profit | Examples of aims | Increase market share | Decrease waiting times | Raise more money for people in need | Examples of objectives | Attract and retain customers by improving product quality | Have more doctors, nurses and receptionists on at once | Attend more events | * The main purpose of the private sector is to provide goods and service to customers to gain a profit. * The main purpose of the public sector to provide a service to the public. * The main purpose of the Non-for-profit / Voluntary sector to help people without making a