1. Dennis Chavunduka – Mr Edwards – Assignment
6
Dennis Chavunduka
Assignment 6
Unit 1 - Exploring Business Purpose
Mr Edwards
Oxford School
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2. Dennis Chavunduka – Mr Edwards – Assignment
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This mind map shows the typical business aims:
To provide goods and service
To make a profit
To survive as a business or
expand. Maximise sales or improve quality.
Provide charitable or voluntary BUSINESS AIMS
services.
Provide a highly competitive service.
Be environmentally friendly.
Businesses set aims because it’s a good way to achieve targets and to reach goals by giving
the business direction. Businesses reach their aims by communicating with the staff.
Businesses need to have aims to gain profit therefore making them grow. Business set aims
to motivate the staff therefore making them grow in their job. Businesses set aims to
motivate the staff therefore making them more focused because they know what their
doing. Businesses set aims to improve on their weak points, evaluate their problems and
what is preventing the business from growing so they can progress against other businesses
(competition). Businesses have different aims for example Fred’s discount store will have
different aims to TESCO because Fred’s are a local sole trader to TESCO and they are fighting
to survive but TESCO don’t have to worry about survival.
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Objectives:
Objectives are steps which help to achieve an aim. Businesses set these because it makes it
easier to get their. As the business achieve every objective it motivates them, improving
communication between the workers and customers. Objectives are planned making it
more specific, therefore everyone knows what their doing to develop the business. To use
objectives you need to plan them and agree. The best objectives are SMART
S – Specific
M- Measurable
A- Agreed
R- Realistic
T- Time-constrained
Example of SMART objective
S – Save £130 for a holiday
M - £5 per week
A – Friends informed
R – Leaves £20 for spends
T – Do for 6 months
A business that might use objectives is Coca-Cola because they are a large business and
SMART helps them measure the objective, the time scale and how realistic it is.
Mission statements:
Mission statements are short paragraphs that describe the businesses aims, purpose, and
culture. Businesses use mission statements, so they can know their vision to achieve goals
and agreements. The aims and objectives are mentioned in the mission statements. In
addition, businesses have different mission statements according to how the large the
business is. For example, Fred’s might have a mission statement but we won’t know
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because they are a small business without a website. Unlike Coca-cola who are a bigger
business with a website where you can see their aims, objectives and mission statements.
Other reasons they set mission statement is so they know what they have to achieve to
improve the business.
Compare and Contrasting Thorpe Park and Oxfam:
Ownership:
Similarities Differences
They are both in the tertiary sector. Oxfam is a non-profit business
Both provide service. Thorpe Park have one location and
Oxfam have a lot more
Both started in England. Oxfam employees are volunteers,
Thorpe Park employ
Both private sectors. Thorpe Park is owned by shareholders.
Oxfam are not they own themselves.
Both have to get money to survive. Oxfam have more employees. Thorpe
Park has less.
Both large businesses because they Thorpe Park is not open all year round.
have more than 250 employees. Oxfam are always open.
Both have shops. Thorpe Park provides enjoyment and
pleasure. Oxfam provide the basic e.g.
water, food and shelter.
Both have mission statements.
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Aims:
Similarities Differences
Both relieve distress Oxfam work with others to find lasting
solutions to poverty and suffering. Thorpe
Park work by themselves to become better
than other theme parks and to bring thrill
and enjoyment.
Both want to bring happiness to people Oxfam aid poorer countries. Thorpe Park
doesn’t.
Both want to become the biggest business Thorpe Park wants to make profit. Oxfam
at what they do don’t they just want to help the poor.
Oxfam campaign for a fairer world. Thorpe
Park advertise their rides to attract more
customers.
Oxfam want to educate people about the
nature, causes and effects of poverty.
Thorpe Park aim to make customers happy
so that they can tell more people to come to
Thorpe Park.
Mission statements:
Similarities Differences
Thorpe Park is LTD company. It is dedicated Oxfam International is an international group of
to become the number one theme park in independent non-governmental organizations
the world. Thorpe Park is part of the Merlin
dedicated to fighting poverty and related injustice
Entertainment Group. They are there to
around the world. The Oxfam’s work together
provide thrill and excitement to people
internationally to achieve greater impact by their
mostly people in their twenties and
collective efforts.
teenagers.
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