Aims and objectives for a business
What are aims and objectives?
Aims are a target or goal that a business strives to achieve over a long period of time (normally up to 5 years)
Objectives are smaller targets designed to help a business achieve their aims.
Different aims used by businesses
Sales: Selling the most of your products or services possible.
Break Even: Making enough revenue to cover your business costs without making any profit and to make sure you do that you should keep your costs low and increase your sales.
Relationships with other businesses: Maintaining and improving business relationships to enjoy the benefits of quicker service, lower cost, and more choices.
Service Provision: Changing or improving your service to make sales and meet customer needs for example a customer can order a pizza online and for a specific time that the pizza should be delivered by.
Profit Maximisation: Making the most profit possible by selling more or changing prices.
Survival: Often set by new businesses but it used to see an organisation through difficult trading periods.
Market Share: Having the most customers in your particular market. Most often done by tempting customers away from rival companies for example you should have better pricing and better quality products/services and the customer will come to you.
Growth: Physically expanding the company by refurbishing premier, or even opening up in new locations.
SMART OBJECTIVES