Lesson Objectives To identify businesses aims and objectives. (E) To analyse the need of different business aims and objectives for different sectors. (C) Evaluate the potential conflict of aims and objectives within an organisation. (A)

Which business? Our core purpose is to create value for customers to earn their lifetime loyalty. Our mission is to organise the world‘s information and make it universally accessible and useful. To inspire and nurture the human spirit— one person, one cup, and one neighbourhood at a time. Our mission is to be the best pizza delivery company in the world. Our culture is best summed up in a chant that’s sung in our stores: ‘sell more pizza, have more fun!’

Starter: Your Aims WHAT Think about yourself for a minute and list all the aims you have. This year Next year In about 5 years time

Your Objectives HOW For Example: AIM: I will go to Sixth Form Objectives: I will complete my Business GCSE, and achieve a grade B by July 2014 so I can get into Sixth Form.

Business aims What might they be? Focus of aims Profit Providing a Service Growth Market Share sales

Business Objectives SMART: Specificmeasurableachievable realistic time constrained A businesses aims and objectives are found in the mission statement.

Private and public sector Private sector Businesses that are owned by private individuals Includes sole traders, partnerships, Ltds, plcs Largest part of business activity in the UK Public sector Businesses and other organisations controlled by the government Includes hospitals, schools, police, fire service, councils and public corporations

Aims/ Objectives in different sectors: What is the purpose of a business? Lets discuss: Private sector business? Public sector business? Voluntary sector business?

How will this affect aims/objectives What are their aims? Lets discuss Private sector business? Public sector business? Voluntary sector business?

Task 1. Jason Lee works for Colliers plc, which makes and sells chocolate. His friend, Alison Stone, works in the Education Department of Northampton Borough Council. Who works in the public sector and who works in the private? 2. What are two possible objectives for Colliers plc and two for the Council? 3. How and why might the objectives of a business change over time? Extension – can you suggest 3 possible stakeholders (someone with an interest in or affected by the activities of a business) in Colliers plc and explain why they might have an interest in the business?

What am I? what the business is aiming to achieve in the long term. short term goals which enable a business to achieve their aims a brief summary of the aims and objectives of a business. profit, growth, survival, providing a service the part of business activity owned by private individuals. the part of business activity controlled by local and central government.

Task Congratulations! You have just been made the CEO of Apple. The rest of the Board of Directors now want to know the aims (minimum of 2) and objectives (2/3 per aim) you have set for Apple. Give reasons for your choices. Good luck in your new job.

Conflicting Objectives A business will have to accept that in order to reach one of its objectives that the results toward achieving another may suffer. For example in order to achieve excellent customer service it will cost money to train your employees, but this will limit the amount of profit the business can make.

Key Words Aim- what the business is aiming to achieve in the long term. Objective- short term goals which enable a business to achieve their aims Mission Statement- A brief summary of the aims and objectives of a business. Market Share- The amount of market that a business controls. (Measured as a percentage) Private Sector- The part of business activity owned by private individuals. Public Sector- The part of business activity controlled by local and central government.

Plenary Who wants to be a Millionaire? Quiz

Next We shall now look at the topic of stakeholders.