Define aims and objectives of two contrasting business in different sectors.
Every business is for a purpose. It may sell goods or services. Business must make a profit to exist. Companies need to know what they want to do and how they want to do it in order to attract and keep growing.
For that reason, all businesses must have aims and objectives that identify what they wish to achieve.
Organizations are divided into two sectors: private and public. The sectors have different aims as they do different things.
Private sector companies’ goal is to make a profit in order to survive. They are typically owned by private individuals or groups.
Public sector organizations are owned or controlled by the government or regional authorities.
They usually are not seeking for a profit; most of their money comes from funds that are developed through taxes. However, public sector organizations often have similar aims to businesses, because they also need to run efficiently.
The aims of an organization often include to:
Create a profit or surplus funds
Sell or provide goods or service
Improve product quality
Beat the competition
Be kind to the environment
Describe the purpose for a business in setting aims and objective.
Aims and objectives are vital for a business. It helps to achieve goals. It also gives clearly defined target. Moreover it motivates the employees and enables the business to measure the progress towards its stated aims.
By setting aims and objectives, companies give themselves a direction. It is much easier for workers to perform productive and coordinated tasks on daily basis with a clear sense of the purpose of their actions.
The purpose of settings aims and objectives is also known to help the managers manage the business. It helps them to get the most of the business in specify period of time. Aim can be described as long term goals that they want to achieve e.g. expanding the business globally. Objectives give the business a clearly defined target; they are goals that are achieved in the short term.
Another purpose of setting those is to check the performance. For example how much profit the company have made in the last year, so they are going to know if they are doing better or worse that in the last year. Then they can