2 Suggest Appropriate Aims and Objectives for a Small, Medium and Large Business.
Aim for a small business can "Survival", to survive in the market and look for profits.
Aim for a medium sized business would be to maximize their profits and growth to expand their current business operations and increase market share.
Aims for Large business would be external growth,i.e taking over their competitors in the market. Secondly it would be adding value and quality to their products, and finally providing service to the community in some way, like giving funds to charities and opening up it's branches in development area where development is required. Anonymous
When a sole trader sets up they may have some unstated aims or …show more content…
Some organisations have alternative objectives.
Examples of other objectives:
Ethical and socially responsible objectives – organisations like the Co-op or the Body Shop have objectives which are based on their beliefs on how one should treat the environment and people who are less fortunate.
Public sector corporations are run to not only generate a profit but provide a service to the public. This service will need to meet the needs of the less well off in society or help improve the ability of the economy to function: e.g. cheap and accessible transport service.
Public sector organisations that monitor or control private sector activities have objectives that are to ensure that the business they are monitoring comply with the laws laid down.
Health care and education establishments – their objectives are to provide a service – most private schools for instance have charitable status. Their aim is the enhancement of their pupils through education.
Charities and voluntary organisations – their aims and objectives are led by the beliefs they stand for.
A business may change its objectives over time due to the following reasons:
A business may achieve an objective and will need to move onto another one (e.g. survival in the first year may lead to an objective of increasing profit in the second year).
The competitive environment might change, with the launch of new products from competitors.
Technology might change