Essay
level 2 btec business unit 2 p1
- Module
- Unit 2 - Working in business
- Institution
- OCR
buy the whole of business level 2 unit 2 for £3 in my bundle
[Show more]
Content preview
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?
1 | Page
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller shadow. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £2.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now