The Aims And Objectives Of A Business Organization

Introduction

I am writing this assignment on the module called “Business Organization” as I would be defining the aims and objectives of a business and describing the purpose for why a business organization needs to set aims and objectives in order to achieve their goal.

While having written this report I have understood the importance of aims and objectives for a business to start up. As it is very interesting on how the organization uses a specific period of time to try to achieve their goals and what firms can do when they cannot achieve their goals. Every business organization has different aims and objectives depending on their type and structure.

As there can be many motivations for people to start up some or the other kind of business

In order to achieve their vision businesses need to have objectives.

For example different businesses have different aims, some businesses look on how to maximize their profit and grow their business in order to match the competitor by selling their products abroad or creating more branches.

Some businesses strive for their survival, as they make very little profit. So these type of businesses focus on break-even which means to cover their total costs with enough cash. In order to achieve this the organization starts making objectives to meet their goals like covering the total cost is their aim.

Objective is the mission of the business which explains how the business is going to complete the central desire of their organization, which will vary by the depending work done by each unit of the organization to achieve both their aims and objectives.

Aim or objective of a business is a commitment made by the business organization or the economy system who is aiming to hit the target (achieve) set over a period of time. For example it may be a time period of 6 months or 12 months maybe even over up to 5 year also, every business set their own targets and tries to achieve their aims and

As the business set goals the members need to become more flexible and persistent.

Different sectors have different purposes for setting their aims and objectives like for example, the organizations in public sectors which are owned by the state or the governments whose purpose includes to get enough customers so that they could provide more jobs to the people living in underdeveloped regions and provide services to different communities as they strive to maximize their services.

So the public sector focuses providing more jobs to the people in underdeveloped areas where there is no transport system (villages), provide public services (RTA), and prevent corruption (police).

Whereas, in private sector main purpose is to make maximize their profits, which depends on the owner to use it on the investment or keep it for himself. As its goal is to become adequate, which the private sector does not keeps external affairs into application.

The private focuses on not wasting their precious energy nor making wrong turns for their businesses future, as they want to make their brand valuable in the market, increase of market share and sales by winning trust of customers away from their competitors every year (e.g. Samsung,