Essay
level 2 btec business unit 2 p2
- Module
- Unit 2 - Working in business
- Institution
- OCR
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Eric Asare unit 2 p2What is the purpose of an aim and objective and why is it important?
because most businesses have aims which they gets broken down into specific
objectives, or targets this is very important because it allows the business to
focus, themselves a sense of purpose and direction, to see what they are trying
to target for, it allows the business to highlight key areas for improvement,
development and achievement. Different sectors have different aims for
example, a public company would focus on providing basic goods or services that
are either not, or cannot be, provided by the private sector and also keeping
prices low because they are funded by tax which paid by the public, a private
sector will focus on keeping prices low and quality high so that they can
maximise profit for their shareholders in order to make the company grow even
further and lastly a voluntary sector would mostly focus on raising as much
money as possible for they charity and all of the money made will go to the
charity because the charities are non-profit organizations.
Also Objectives are important because they get broken down so that they are
easier to achieve. An objectives are like targets/goal which the
organisation/business would like to achieve, objectives is type of strategic plan
helps you assess your market and lastly It is a short-term, step within a period of
time that is moving toward achieving a long-term goal.
If the objectives and objectives are not met then company will not develop and if
the financial aspect of the company is affected then it will eventually go out of
business.
For example if Tesco has an aim to bring out a new product and Tesco wants it
tested by potential customers the human resources department would first the it
will go through the marking department, finance department, production
department and etc. even if only one of these department has an unclear
objective this may lead end up to hurting the company because money, time and
effort are not stationary on the right outcomes.
Also the size of the company affects the aim and objective for example, a local
corner shops will not have the same aims and objective with big companies such
as Tesco and Asda because Tesco and Asda aim and objective because their aim
and objective could be to become the best in the UK this will be realistic for
these two companies and if the small corner shop aim and objective are the
same it will not be realistic because they will not make as much profit as Tesco
and Asda but if the small local shops aim and objective is to become the best in
the local area it will be realistic.
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