1. Unit 1 – Investigating Business
A study of John Lewis and the extent that it is meeting its objectives and the key things that have helped it to be successful

2. Aims and Objectives
Objectives are targets that the business tries to achieve. They should be SMART
Specific – not too general / vague
Measurable – use numbers to check
Achievable – possible for business to meet
Realistic – not too ambitious
Time related – e.g. in a year etc

3. Example for John Lewis
1) We want to be the no 1 department store in the UK
2) We went our online sales to increase by 2% in £ terms between September 2012 and November 2012
Which of these 2 is an objective?

4. Aims
Aims are more general and ambitious. They provide a goal for the business to work towards.
They are not SMART
Example
1) We want to be the no 1 department store in the UK

5. John Lewis - Aims
Our purpose is 'the happiness of all our members, through their worthwhile, satisfying employment in a successful business', with success measured on our ability to sustain and enhance our position both as an outstanding retailer and as a thriving example of employee ownership.
This is called a mission statement – paragraph setting out the main aims and purpose

6. Aims and Objectives 1) Survival – staying in business.
Need to compete with rivals.
Remember lots of competition for JL in different things it sells. E.g. clothes
Need to cover costs to break even to stay in business

7. http://www. johnlewis. com/Magazine/Feature. aspx

8. 2) Meeting Stakeholder Needs
Stakeholders are groups of people who can influence a business e.g. workers
They can be internal or external to the business.
Internal stakeholders include –
Workers, managers, owners
External stakeholders include-
Competitors, suppliers, government

9. Meeting Stakeholders Needs
What needs would they have?
Workers / Owners
Managers / Owners
Customers
Local people
Suppliers
Government

10. John Lewis Partnership Website – About Us – Our Principles - READ

11. Excellent section on meeting worker needs-http://www
Pay and benefits really good – no wonder staff are motivated !!!!!!

12. 3) Maximising sales revenue
Increasing sales £ coming into the business
Revenue = money made from selling goods and services
How?
Sales promotions and offers
Advertising
Increasing range of goods sold
Opening more stores

13. Financials section of partnership website
Up to date sales figures

14. Weekly sales figures – green this year

15. 4) Maximising profit Profit = sales revenue – total costs
Profit increasing by increasing sales and keeping costs under control
Refer to lots of figures on JL partnership website

16. Growth
Expanding the business in terms of sales, area, number of stores, business areas operate in
Lots of examples – Westfield, London, internet sales, growth of stores e.g. project TARDIS Norwich

17. Growth – Press Releases – Under Media on Partnership website

18. Recent articles suggest strong growth

19. Assignment - these 3 tasks are the 3 week assessment
Task 1 – explain what is meant by aims and objectives – for end tomorrow
Task 2 – Describe the main aims and objectives of John Lewis - for 25th
Task 3 – Giving examples illustrate these aims and objectives – are John Lewis meeting them in your opinion ? for 25th

20. Subjects – lots of useful links

21. Research Table Objective / aim Evidence of meeting this Survival
Meeting stakeholder needs
Maximising sales revenue
Maximising profit
Growth