Aims and Objectives of a Business Essay
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Strategic aims and objectives of two different organisations * Aims are just general statements briefly outlining what a business plans to achieve. * Objectives are much more specific and should clarify the aims in more detail. * A Business Strategy is the conduct of drafting, implementing and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives. Aims are broken down into individual objectives which are SMART; Specific – the objective will have a purpose Measureable – growth can be measured Achievable – It will not be impossible to achieve Realistic – It Time specific – It will be able to be achieved within a certain time frame Strategic plans enable a business to achieve its Objectives.
They are based on what is happening in current marketplace. So a business must do research and find lots of different information about its, customers, competitors, sales, market shares, price, costs and profits. This information is found by doing Market Research. This information can either be Quantitative or Qualitative. Quantitative data – information easily gathered by numbers.
Qualitative data – information based on opinion, beliefs, feelings. A strategic plan considers the future of current decisions, overall policy, organizational development, and links to operational plans. . It establishes imperatives, goals, strategies, and performance measures for the organization that can be used as a management and communications tool. Strategies for the Public Sector A hospital may have the aim to provide better customer service.
Their objectives; * Make sure all patients in A&E are seen within 15mins * Always having ambulances ready * Answering all phones within ten seconds Plans to achieve this: * Constantly checking the quality of customer service * Buying more ambulances and hiring more ambulance staff * Provide services at cost, below cost or free where appropriate It is then up to the management to ensure that these plans are executed properly so that taxpayers’ money is well spent in providing these health services. There most important stakeholder is us. Strategies of the Private Sector The most important stakeholder in a Private Sector organisation is the owner.
They would aim to; * Maximise profit * Increase sales * Cut costs * To survive * To breakeven * To expand To maximise profits the long term strategy would be to; * Increase prices * Reduce costs * Increase sales Sometimes in order to make money you have to lose money first. A business might reduce its prices to gain more sales and customers and in order to do this their profits have to fall. However, a business must make a profit in the long term or it will go bust.
A Short term strategy to maximise sales would be to; * Reduce prices * Improve product quality * Add new products * Spend more on advertising * Spend more in market research Cutting costs * Reduce number of employees * Reduce wastage of materials * Conserve energy If a firm decides to get rid of employees it has to be careful not to get rid of staff who might be needed in the future or even be hired by a rival company. It is also important to keep the standard of quality high, if you choose to go to a low cost supplier you might lower your standard of quality and customers might go to a rival store. Survival * In this economic climate the main aim of a business may be to survive.
They may have to drop prices drastically and cut costs. Breakeven * All businesses must at the very least cover all their costs in the short term * Their revenue must cover their fixed and variable costs * Fixed costs are those unaffected by sales; e.g. rent, rates, insurance etc. * Breakeven can be measured using a graph, chart or formula Growth * In order to become a market leader a firm has to grow * Growth can be internal or external * There are three ways to measure growth; profit, sales, and market share Private Sector Objectives >Maximising profits – may benefit shareholders and managers but at the expense of employees, customers and suppliers if the business decides to increase prices and/or reduce costs. >Maximising Sales – to maximise product sales a business might have to reduce prices, increase quality, or even introduce a new item.
Public/Voluntary Sector Businesses in these sectors usualy serve people in some way. Their very own aim is usually to help people. They could have different targets than a non-public sector organization as a organization in the public/voluntary sector will not aim to generate income.
For example a charity may wish to increase the amount of aid it gives to a third world country. So they will try to increase more money to send things to them. This will benefit the people of the third world country, though the people that happen to be giving the donations may then have to so without something else because they have gave their cash to the charitable organisation. P3 Footwear mission is usually to become the world’s leading pharmacy-led health and magnificence group. That they seek to develop their core business of pharmacy-led into the beauty retailing and pharmaceutical wholesaling around the world and become a tremendous player in numerous major international marketplaces.
Boots aims to; * Be the place to get health and splendor customers. 5. Secure industry leadership in britain. * Build on their brands’ growing accomplishment internationally. * Create shareholder value by investing to become more modern, successful and competitive health and splendor retail organization. Objectives Their very own strategy is usually underpinned by their continued give attention to patient/customer requirements and support. The key methods Boots are taking in the UK to execute their very own strategy happen to be: * Making Boots more convenient and attainable for customers.
They may be re-branding over 1, 1000 outlets into “your local Boots pharmacy” and relocating more Footwear stores/pharmacies to improved spots. * Bettering customers’ in-store shopping encounter by constantly providing best lawn mowers of class customer service and service. This being achieved by operating efficient walk-in prescription solutions staffed by simply friendly, knowledgeable and available pharmacists, and faster right up until service. 5. Creating a persuasive multi-channel well being consumer providing. Initiatives contain making searching at footwear. com simpler, expanding product ranges available on-line and rolling out their “order on-line collect-in-store” concept.
5. Continuing to supply customers with excellent value by providing reliable ranges of Boots branded goods, executing strong promotional presents and satisfying customer loyalty with Shoes Advantage Card points. The real key steps Shoes are taking within their International health insurance and beauty markets to execute their strategy are: * Opening fresh stores in markets in which Boots has already been well established, including the Republic of eire, Norway and Thailand. 5. Selective franchising of the Boot styles pharmacy-led health insurance and beauty retail proposition in areas like the Middle East.
Boots aims for Cha?non Healthcare as the world’s leading wholesaler and distributor of pharmaceutical items. To make this kind of possible they may have come up with a volume of Objectives to make this likely, including; 5. Ensuring that they will continue to deliver an excellent core service to most customers. Simply by delivering pharmaceutical medicines to pharmacies for least two times a day on the just-in-time basis to meet patients’ needs.
2. Differentiating their very own product giving. They are achieving this by using a series of projects which include the development of Almus, their very own exclusive variety of generic medicines, and the extendable of Alvita, their top quality healthcare wide array of products. * Entering new physical markets in which stable regulating environments, huge populations, developing healthcare expenditure, scope pertaining to wholesaler loan consolidation and the correct management are available, such as in Russia and China. Stakeholders Shareholders – an individual or company (including a corporation) that officially owns a number of shares of stock within a joint inventory company.
Investors would have particular interest in the goal ‘Secure industry leadership in the UK’, since to secure Market Leadership in the UK would mean the business is expanding and producing more capital. A Aktionar in any Organization is mainly enthusiastic about the company producing a profit to ensure that their stocks go up in value, consequently they drive more money. Consumers – somebody who pays for goods or services.
Customers might have a keen affinity for the aim ‘Ensuring that they continue to deliver an outstanding core in order to all customers’. This is because when a buyer goes into a store they expect there being great customer care, they are presently there spending their money on that companies goods so they expect the very best standard of customer service. Otherwise they would have their custom made elsewhere.
Suppliers- someone in whose business should be to supply a particular service or perhaps commodity. Suppliers would have a keen interest in the goal ‘Differentiating their very own product supplying. ‘ It is because if Boots want to supply new products with their customers they are going to have to get them off their particular suppliers. This means the Suppliers would be making more money. Producing a profit is definitely the Suppliers primary aim.
Boots order on-line collect in-store strategy would affect the subsequent stakeholders; Clients – would be winners, mainly because it makes shopping more convient for them. They can shop 24/7 and they don’t even have to leave their own homes. Investors – will be winners since when searching is more convienent for customers revenue will go up therefore investors will make more profit.
Old Customers – would be duds, because a lot of older people may well not own a computer system or even discover how to use 1. So it will not make purchasing more convienent for them whatsoever. Boots technique of Differentiating their item offering will affect the pursuing stakeholder; Buyers – would be winners because they would have a wider and better product selection to choose from. Suppliers – would benefit as they would make more income because footwear are buying more of goods. The Environment – may suffer although. Because new releases have to be devloped and analyzed, some may possibly harm the planet.
Boots Strategy of Beginning new shops in markets where Shoes is already well-established would impact the following stakeholders; Shareholders – would be winners because if new retailers were exposed they they might gain even more service and customers and thus make more money. Suppliers – will be winners because they would be gettingg more organization as they will have to supply intended for the new stores. Customers – would be champions and duds. The customers that are getting the fresh shops within their area will be winners nevertheless customers that reside in more isolated areas and will not benfit as they probably would not be able to utilize the store.
Oxfam International is an international group of independent non-governmental organizations committed to fighting poverty and related injustice all over the world. The Oxfams work together internationally to achieve increased impact by their collective initiatives. Oxfam Aims to: * To help third world countries in any way they can * To relieve poverty, distress and battling * To teach people about the nature, triggers and associated with poverty 5. To advertising campaign for a targeted at world 5. To work with other folks to find enduring solutions to poverty and battling. * Assist individuals to help themselves, supporting neighborhood organisations in poor areas of the world. * Campaign for national and international plan changes that will help the world’s poor.
Although Oxfam’s preliminary concern was your provision of food to ease famine, over the years Oxfam has developed strategies to fight the causes of starvation. In addition to food and medicine Oxfam also delivers tools to enable people to turn into self-supporting and opens markets of worldwide trade wherever crafts and produce by poorer regions of the world could be sold at a good price to benefit the producer.
Oxfam’s program features three main points of emphasis: * advancement work, which will tries to lift communities out of lower income with long term, sustainable alternatives based on their needs; * education work, aiding those instantly affected by discord and normal disasters (which often potential clients in to longer-term development work), especially in the discipline of drinking water and sanitation; * the lobby, advocacy and popular promotioning, trying to impact policy decisions on the reasons behind conflict for local, national, and foreign levels. Oxfam works on; 5. trade rights, * good trade, * education, 2. debt and aid, 2. livelihoods, 2. health, 2. HIV/AIDS, 5. gender equal rights, * turmoil (campaigning to get an international arms trade treaty) and natural disasters, * democracy and human privileges, * local climate change Another of Oxfams Aims should be to ensure Ladies have the same rights as guys.
Project aspires During 2007-8, people from 30 remote control districts of Nepal will participate in Oxfams WE CAN marketing campaign. The advertising campaign is based about volunteer Transform Makers: men and women who promise, give your word to change their own attitudes and practices and also to spread the message that girls deserve equal respect and rights in society. Modify Makers tell others that violence against women is usually not socially acceptable. ALL OF US CAN’s long term aim should be to challenge and change attitudes. To be able to generate support for their advertising campaign and to sponsor male and feminine Change Producers in Nepal, members of local organisations will organise 60 community-based events and one nationwide event in 2007/08.
Right at the end of the year, 35, 500 new Change Makers will probably be active in Nepal. Also because each Change Maker pledges to impact at least ten people, more than 350, 000 persons in Nepal will have noticed the WE ARE ABLE TO message. The aim is to generate five , 000, 000 Change Producers across Southern region Asia simply by 2011. One other of Oxfams Aims is usually to Improve Medical in Countryside Georgia.
This project will make sure that 40, 000 people in the remote and indigent regions of Ajara and Samegrelo can receive local, inexpensive health care. Job aims The purpose of the job is to enhance the health of people in Atlanta. It will: * Implement community-based health care schemes * Boost health consciousness and practice among the wider communities 2. Help people to find out and require their patient rights and state health advantages * Influence the government to fulfil it is commitment to supply basic health services countrywide. Another section of the Oxfam group is Oxfam International Junior Partnerships. All their Mission The Oxfam International Youth Parliament (Oxfam IYP) is an initiative of Oxfam Intercontinental, managed by Oxfam Community Aid Overseas.
IYP mobilises a global network of fresh leaders and activists to create about positive and environmentally friendly change. It does this through supporting children led initiatives, facilitating expertise and capacity building applications and promoting young people to advocate for rights and freedoms and those of their areas. Aims Oxfam IYP promotes and facilitates young people since leaders in developing positive, sustainable, ground breaking and community oriented change initiatives.
IYP aims to support youth led initiatives that can help a significant contribution to: 2. An increase in the number of people who have a sustainable sustenance. * A rise in the number of those who access to interpersonal services. * an increase in the amount of people who have an efficient voice in decisions that affect their particular lives. 2. An increase in the number of people who are live free from fear and elegance, especially those whom are currently oppressed or marginalized due to their gender, ethnicity, Local status or cultural id. * An increase in the number of people who find themselves safe from discord and devastation.
Objectives To attain these ends IYP has the following aims: Support children led initiatives: To support Actions Partners in the development, execution and evaluation of social change initiatives (individual and collective actions plans) through the provision of strategic and financial support. Skills creation and potential building To boost the effectiveness of Actions Partners as social modify leaders through further developing skills and knowledge necessary for implementing great and environmentally friendly change. Networking and Connections Building To encourage and support actions partners to change information and learning, build alliances and partnerships between themselves and with others to support their particular work for transform.
IYP Sittings To encourage, empower and grow the next generation of small leaders and activists. IYP sittings are international gatherings between actions partners which might be convened every single 2-3 years. Through IYP sittings actions partners build skills, networks and develop social change initiatives. IYP sittings start a routine of activity and programs to be integrated over the following two years.
Study and information exchange To determine a significant exchange of learning, information and research concerning the issues that face young people and the actions they have considered for good and eco friendly change regionally, nationally and globally. Youth Participation To actively showcase the right of young men and women to significant participation inside the decision making procedures that influence their lives. IYP empowers Action Associates to engage in policy development and decision making at all amounts. Oxfam Foreign To facilitate and enhance the work of Oxfam Worldwide and its online marketers with young adults around the globe.
M1 Stakeholders The Stakeholder in Oxfam would be The Third World Countries that it assists. They are essentially the most important stakeholder as their lives often rely upon the goodwill and charitable organization Oxfam offers them. Third World countries could have an interest in every of Oxfams aims, ‘To relieve lower income, distress and suffering’, ‘To campaign for the fairer world’, etc . One other Stakeholder could be the Employees (Volunteers). Oxfam employees do not get an income; they improve free (volunteer). This means they are going to have an enthusiastic interest in assisting the business present aid intended for third world countries.
So they are going to have particular interest in aspires such as ‘to recruit five million Change Makers across South Asia by 2011′. The Government would also have a willing interest in the aims of Oxfam. They might in particular be interested in the aim to ‘stop conflict (campaigning intended for an international biceps and triceps trade treaty).
They would be interested in this since international forearms would be required for the Government.