Business Aims and objectives Look at what these mean and why they are important in business

Aims All businesses have aims that they want to achieve. These are the long-term visions or goals of a business. What do you think could be some of the aims of a company? Think of different types of businesses.. Eg banks, BBC, charities..

Aims - goals Profit growth Offer a good service survival Break even expand balancing costs Developing staff skills

bjectives These are more specific than aims. These are targets which are set in order to achieve the aims.

example We want to achieve sales of $10 million in European sales in 2004

SMART Objectives Specific - clear definition of what you’re going to achieve. Often includes a number eg a hotel may have an objective to fill 60% of its beds in October. Measurable so your achievement can be checked. Eg $10 million by 2004 Achievable – without making too many sacrifices. Realistic – should be challenging, but realistic. Time related put a date of when you want to achieve them. Eg 2004, the end of the year

Change to SMART Objectives Aim = I want to go on holiday !!! Objective – ‘I will save up’

Change to SMART Objectives Aim – I want to get fit Objective – I will go running

Change to SMART Objectives Aim– I want to pass my BTEC course Objective – I will do more work

Change to SMART Objectives Aim - I want to be more healthy Objective – I will eat a salad.

Change to SMART Objectives Aim – I want to get a job Objective – I will do a CV

Personal Objectives Outline your own SMART objectives

Research Using the internet to do research what do you think are the business Objectives of the following companies; Go to the company info.. Often under company mission statement or vision. Normally found on the bottom of the web page.