Unit 2 P1
Unit 2 P1
Task 1 - Define aims and objectives. (P1)
Businesses set aims and objectives, so as to be able to measure their progress towards their stated goals for a particular financial term or business period. Aims indicate where the business wants to be in the future, whereas objectives set a clearly defined target for the business. In most businesses, plans are drawn up for the business to achieve these aims and targets.
Aim - is where the business wants to go in the future, its goals. It is a statement of purpose, e.g. we want to grow the business into Europe. Aims could include the following:
Maximise sales
Expand
Make a profit
To be environmentally friendly
To survive as a business
Improve quality
Produce a highly competitive service
Raise awareness of teenage cancer
Objectives - Business objectives are the stated, measurable targets of how to achieve business aims. For instance:
An objective for Cadbury’s could be - "To achieve sales of €10 million for Dairy Milk in European markets in 2013".
These objectives must be SMART. This stands for
S - Specific
M - Measurable
A- Achievable
R - Realistic
T - Timely
Unit2 P2
Task 2 - Describe the purpose for a business in setting aims and objectives. (P2)
P2 - Why businesses set aims and objectives
1. Find out why it is important for businesses to set aims and objectives for the following stakeholders:
Owners - It is important because they are the guides for the whole business, they have to set correct tasks for others. Also they have to make sure that they know the status of the business, so they will able to set new aims like expanding the business.
Managers- It is important for managers to set aims and objectives to set correct tasks for the employee, also they have to make sure that they are up to date and they know what the owners are planning to do, so they will try to help them to achieve success of their plans.
Employees- It is important for an employee to
Task 1 - Define aims and objectives. (P1)
Businesses set aims and objectives, so as to be able to measure their progress towards their stated goals for a particular financial term or business period. Aims indicate where the business wants to be in the future, whereas objectives set a clearly defined target for the business. In most businesses, plans are drawn up for the business to achieve these aims and targets.
Aim - is where the business wants to go in the future, its goals. It is a statement of purpose, e.g. we want to grow the business into Europe. Aims could include the following:
Maximise sales
Expand
Make a profit
To be environmentally friendly
To survive as a business
Improve quality
Produce a highly competitive service
Raise awareness of teenage cancer
Objectives - Business objectives are the stated, measurable targets of how to achieve business aims. For instance:
An objective for Cadbury’s could be - "To achieve sales of €10 million for Dairy Milk in European markets in 2013".
These objectives must be SMART. This stands for
S - Specific
M - Measurable
A- Achievable
R - Realistic
T - Timely
Unit2 P2
Task 2 - Describe the purpose for a business in setting aims and objectives. (P2)
P2 - Why businesses set aims and objectives
1. Find out why it is important for businesses to set aims and objectives for the following stakeholders:
Owners - It is important because they are the guides for the whole business, they have to set correct tasks for others. Also they have to make sure that they know the status of the business, so they will able to set new aims like expanding the business.
Managers- It is important for managers to set aims and objectives to set correct tasks for the employee, also they have to make sure that they are up to date and they know what the owners are planning to do, so they will try to help them to achieve success of their plans.
Employees- It is important for an employee to