What Is Meant by the Terms Aims and Objectives
What Is Meant by the Terms Aims and Objectives
A mission describes the organisations basic functions in society, this is in terms of the products and services that it produces for its customers. A clear business mission should have each of the following elements Purpose, this is why the business exists, next there is the Strategy and scope, this is what the business is doing and going to try and achieve, next is the standards and behaviours, this is the rules and regulations of how the business is to be operated, finally there is the values, this is what the management believes in for the business to work. The aims of a business can be different depending on which sector they’re in: Privately owned business:
This business focuses more on their customers and the employees, with the costs of their products or how they give the value for the money to the products that they sell. They also focus on the profit maximisation, the growth, and their increasing market share survival. Publicly owned organisations:
These may mention the service they provide, the work they do is included in the missions statements about the quality of their efficiency ad customers. These are also here to provide the best service possible to the community with the money that is provided by the government for them to spend. Non-for-profit and voluntary organisations:
These people focus on the services they provide, the causes they support or their aims in helping those who are in need. These also focus on charities for example: Oxfam, British heart foundation, and many more charities, that will help people who are indeed.
•Strategy and scope
•Standards and Behaviours
3 Examples of mission statements.
To provide its customers with safe, good value, point-to-point air services. To effect and to offer a consistent and reliable product and fares appealing to leisure and business markets on a range of European routes. To achieve this they will develop their people and establish lasting relationships with their suppliers. Reference: http://www.bized.co.uk/compfact/easyjet/easy8.htm BAA
“Our mission is to make BAA the most successful airport group in the world. This means:
•Always focusing on our customers’ needs and safety.
•Achieving continuous improvements in the profitability, costs and quality of all our processes and services.
•Enabling us all to give of our best.
•Growing with the support and trust of our neighbours.”
Source: BAA Web site
McDonald’s aim to be the UK’s best fast service restaurant experience. Reference: http://www.bized.co.uk/compfact/mcdonalds/mc9.htm Many mission statements are quite short, but others are long. These all include the aims and the objectives of the business, in other words what the business is going to do and how it will achieve its missions.
5 Business Aims:
•Survival, Is a concern for all business especially when they first start trading, To survive a business needs to work really hard to find and keep customers, but making sure there a lot better than their competitors. • Growth, this is another way of saying of increasing the sales, but the sales can be increased by increasing the market share, by selling in new areas or to new customers of the country, or even developing better products or services. •Breaking Even, In order for a business to service it needs to be able to break even, this is the point where a business becomes self sufficient, where the money it collects in each sales is equal to the money it spends on costs. •Sales, this is where some businesses only focus on their increasing sales, perhaps because they think that big firms can compete more effectively than smaller companies/ businesses.
•Market Share, This is where many companies will aim to increase their market share each year by winning its customers away from their rivals. The aims of a business will vary depending on the sector they’re in. •Private Sector, the aims for this are profit maximisation, growth, increasing market share and survival. And they also would be looking to expand the business. •Government, the aims for this sector is to grow the economy, to help provide the best services to the public, they also are there to keep people safe to create a fair community.
•Public sector, there aims are to provide the best service that is possible to the community with money which is provided by the government, they also are here to help improve service provision and they also have to operate within the budget that is at break even. •Not-for- profit, this is to raise awareness of particular causes and is to provide the best service possible with the available money. And are to increase the rand of services •Voluntary sector, this sector is to raise awareness of particular causes and is to provide the best service possible, with all the volunteers that are available. These also support a free service to the needy.
Example of Business Aims
•British Airways, this year we have mapped out a long-term vision for our business. It is to be the world’s leading global premium airline. http://www.britishairways.com/cms/global/microsites/ba_ report0809/pdfs/Strategy.pdf •Sainsbury, Aims are to provide a safe and prosperous town for its residents advertise as much as possible http://www.ukqna.com/business/2906-2-buesiness-ukqna.html
•Easy Jet, to provide its customers with safe, good value, point-to-point air services. To effect and to offer a consistent and reliable product and fares appealing to leisure and business markets on a range of European routes. http://www.experts123.com/q/what-are-the-business-aims-and-objectives-of-easyjet.html •Tesco’s Value for money- competitive prices- meeting consumer needs progressive returns on investment. http://www.blurit.com/q901525.html
•Oxfam, to examine levels and determinates of utilisation in the views of various stakeholders (population, health committees, providers, health authorities) in the context of cost sharing. http://www.oxfam.org.uk/resources/downloads/wp_costsharing_yemen/wp_yemen_2aims
Aims are where the business wants to go in the future; these are long term achievements for a dream to come true for them. Objectives are more specific than aims. They are set over the short to medium term. Objectives are necessary because aims, in themselves, are to general and may be overwhelming. The aims maybe *for example*, to go to university. Business can meet their objectives by keeping focused on what they’re going to do, and what they need to do to get to that objective. For example, wanting to go to university, they need to get all their A levels.
Objectives need to be smart in order for them to be realistic and work for a business. Smart- stands for
•Specific- You need to have a clear statement about what you will be doing. It is usually quantified, which this means that it has a number in it. •Measurable- Achievement can be checked. By keeping a record of your progress, and the completed assessment, this will be able to measure the achievements. •Achievable- you can attain you’re target if you work hard, you can also do really well if you stretch you’re self. •Realistic- Your target should be sensible one that you can stand a chance of achieving it, for example, saying you will make £2000 a week. •Time- Constrained- every objective should have a date included for achievement or review. This acts as warning, as well as backup if you happen to be falling behind.
The objectives of a business will vary depending on the sector they’re in. •Private Sector, Increase sales, and reduce the costs to develop new products and services, improve existing products and services to hopefully find new customers. •Government, to reduce the crime to set the appropriate taxes, petrol prices, and provide the best schools and hospitals, to create new laws they should also improve the product quality. •Public sector, to exceed customer expectations, for example they could reduce the waiting time in hospitals, help to improve exam results for GCSE and A level students. And they want to lower crime rates. They could also try and meet customer targets. And keep the costs low. •Not-for- profit, to raise more money and to reduce the costs so more money can be used on the services, to improve services, to get more people aware of the particular cause. •Voluntary sector, they want to get more volunteers to help improve their services. They also want to increase revenue from donations. They should also take into account of reducing costs.
Examples of Business objectives:
The first set of objectives is taken from Kellogg’s a PLC business and the other objectives are from a not for profit organisation Barbados’s . •Kellogg’s,
1.encourage and support physical activity among all sectors of the population 2.use resources to sponsor activities and run physical activity focused community programmes for its consumers and the public in general 3.increase the association between Kellogg and physical activity 4.use the cereal packs to communicate the ‘balance’ message to consumers 5.Introduce food labelling that would enable consumers to make decisions about the right balance of food.
Barnardos ambition for the next three years is to help as many families and children as possible to overcome disadvantage. To fulfil this ambition, our aims include to:
•use donations to help the most vulnerable and
•hardest to reach children and young people
•better demonstrate the effectiveness of
•our children’s services
•extend our reach into minority communities
•campaign fearlessly on behalf of a population
•of disadvantaged children, young people and
•families who struggle to represent themselves
•exceed the average fundraising performance
•across charities in the UK
•grow awareness of and active support for
•attract more volunteers, especially to our
•stores and children’s services
•continue to grow our net retail income
•drive up organisational performance and
•Increase our competitive advantage.
University/College: University of Chicago
Type of paper: Thesis/Dissertation Chapter
Date: 29 September 2016
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