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level 2 btec business unit 2 p1
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Eric Asare unit 2 p1Business aims and objectives?
In this assignment I would be describing the differences and defining what a
mission statements is, what an objectives is as well as including smart and lastly
what an aim is and how it applies to the business.
What is a mission statement?
A mission statement outlines what the organisation is about, the reason why it
exists and the reason why they started the business in the first place. At a
minimum, the mission statement should show who the primary customers are,
identify the products and services they produce, and describe the environment,
the location and where exactly it is going to be.
What is the aim?
An aim in business is targets/goals which the business would like to achieve in a
long period of time also the purpose of an aim is to define where the entity wants
to be within a certain time period. Here are some examples of aims in a business
to increase profit, to survive, to become environmental friendly, to securing
investment, to be a world known business and lastly to expand the business.
What is an objective?
An objective is a certain result that a person or an organisation aims to achieve
within a certain amount of time with available resources. In other words
objectives are basic tools that causes all planning and strategic activities. They
serve as the root for making plans and assessing performance. Some examples
of business objectives includes Profitability, Customer Service, Retention,
Efficiency and growth.
All of the objective
Specific-clear and easy to understand.
Measurable w/Measurement- able to be turn in to something calculable
Achievable- has the chance to be attained
Relevant-something needed
Time-Oriented- related with an exact time period
The three different types of sectors in the business community- private, public
and voluntary.
A private sector is a businesses that is not control, owned and operated by the
government but it’s controlled by individuals and companies for profit. For
example, Tesco is a private sector they concentrate on keeping prices low and
quality high and also private sector are funded by shareholders.
What is public sector?
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