Starter  What do you hope to achieve by the time you are 21? Write notes in your book.  How will you achieve this?  What steps will you take?  Will you have deadlines to complete these steps? Beauchamps High School

Topic 2 review  Using pencil and ruler, draw an bar chart to show your grade at the front of your book

GCSE Business Studies Objectives when starting up Beauchamps High School

Will be able to evaluate reasons for setting business objectives Evaluation ~ GCSE Grade A* Will be able to propose business objectives for a business Synthesis ~ GCSE Grade A Will be able to analyse the different types of objectives Analysis ~ GCSE Grade B Will be able to demonstrate understanding by using examples/cases Application ~ GCSE Grade C Will be able to explain the purpose of business objectives Comprehension ~ GCSE Grade D Will be able to recall key term business objective Knowledge ~ GCSE Grade E

Business Objectives Beauchamps High School Theory Notes Business objectives are the stated, measurable targets of how to achieve business aims

Think, pair, share…  Can you think of some examples of business objectives??? Beauchamps High School

Financial Objectives  Survival – many businesses fail within the first few years  Profit and Income – wage but also profit from their business Beauchamps High School Theory Notes

Non-Financial Objectives  Personal Satisfaction – feel sense of achievement  Independence and control – flexibility of working, taking time off  Helping others – business can help other people/businesses Beauchamps High School Theory Notes

Task 1  Please divide the objectives you came up with earlier into financial and non-financial objectives Beauchamps High School

Business Objectives must be S Specific Explain what is to be achieved M Measurable Be able to measure if achieved e.g. 10% A Achievable Objectives that can be met R Realistic Can they be achieved with resources available? T Timed Given time period e.g. 12 months Beauchamps High School Theory Notes

Task 2  Please turn one of you financial and non-financial objectives into a SMART objective Beauchamps High School

Business Aims  Business objectives are SMART, and are a stepping stone to the overall AIMS of the business  Aims are not always SMART  Business do not always know how they will achieve the Aims – they are a longer term goal Beauchamps High School Theory Notes

Task 3  You are going to be launching a Healthy Tuck Shop at Beauchamps High School  You need to list your  Financial and non-financial objectives for this business  All objectives must be smart Beauchamps High School

Plenary task - Watch the following clip   What do you think are the objectives of this? Beauchamps High School

Will be able to evaluate reasons for setting business objectives Evaluation ~ GCSE Grade A* Will be able to propose business objectives for a business Synthesis ~ GCSE Grade A Will be able to analyse the different types of objectives Analysis ~ GCSE Grade B Will be able to demonstrate understanding by using examples/cases Application ~ GCSE Grade C Will be able to explain the purpose of business objectives Comprehension ~ GCSE Grade D Will be able to recall key term business objective Knowledge ~ GCSE Grade E