Unit 2 Business Merit 1
M1 Unit 2 business
In this document I am going to be discussing the differences and the similarities between the business aims and objectives of a restaurant and a charity and explain why they are different.
The restaurant
The aims of the restaurant are to make money and the business will then put back any money into the business to make it expand and also to pay wages.
The restaurant also wants to be serving high quality food to maximize profit, an objective for the restaurant is too break even and too make a maximum profit too add new things too there business and even gain a new shareholder, and an aim would be too maximize profits to 50% over a 5 year period this would help them too gain and add new things to the company/business.
The charity
The charity ant to help the people they are trying to help they also want people working for them, they then want to expand the business but only in one site so they can farm more animals, and they will only receive donations from the public and will not spend a penny of this to make profit. An aim for the charity would be to raise awareness of animal cruelty, an aim would be too decrease animal cruelty by 10% in the next 5 years but there objective could be to expand the current site in the upcoming year so they can farm more animals.
Similarities
The similarities between the aims and objectives of the restaurant and the charity is that they are both SMART objectives this is shown by the way they are specific, measurable, achievable, time restrained. They also have the same objective of customer service, the restaurant states they will serve the best quality food to achieve a fantastic customer service, and the charity states they will care for animals they are farming and make the charity like home.
Differences
The differences between the aims and objectives is that the restaurant is private sector and that the charity is public sector, this means that the aims and objectives for both the
In this document I am going to be discussing the differences and the similarities between the business aims and objectives of a restaurant and a charity and explain why they are different.
The restaurant
The aims of the restaurant are to make money and the business will then put back any money into the business to make it expand and also to pay wages.
The restaurant also wants to be serving high quality food to maximize profit, an objective for the restaurant is too break even and too make a maximum profit too add new things too there business and even gain a new shareholder, and an aim would be too maximize profits to 50% over a 5 year period this would help them too gain and add new things to the company/business.
The charity
The charity ant to help the people they are trying to help they also want people working for them, they then want to expand the business but only in one site so they can farm more animals, and they will only receive donations from the public and will not spend a penny of this to make profit. An aim for the charity would be to raise awareness of animal cruelty, an aim would be too decrease animal cruelty by 10% in the next 5 years but there objective could be to expand the current site in the upcoming year so they can farm more animals.
Similarities
The similarities between the aims and objectives of the restaurant and the charity is that they are both SMART objectives this is shown by the way they are specific, measurable, achievable, time restrained. They also have the same objective of customer service, the restaurant states they will serve the best quality food to achieve a fantastic customer service, and the charity states they will care for animals they are farming and make the charity like home.
Differences
The differences between the aims and objectives is that the restaurant is private sector and that the charity is public sector, this means that the aims and objectives for both the