aims & objectives |
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Functional areas of a business
If a businesses operations are not suitably structured then efficiency will be effected. In smaller businesses, several functions are likely to be undertaken by the same person or shared between a small number of employees. Whereas, large organisations will have entire teams of workers employed specifically to one functional area.
Stretch & challenge: Why is it so important for a business to get its aims and objectives right?
Information
A businesses aims are its long term or ongoing goals, they usually centre around the three key areas:
> Mission - a promise of commitment to a business cause
> Vision - the direction the business wishes to travel in the future
> Values - the philosophy and ethos of a business which underpin its vision
A businesses aims are its long term or ongoing goals, they usually centre around the three key areas:
> Mission - a promise of commitment to a business cause
> Vision - the direction the business wishes to travel in the future
> Values - the philosophy and ethos of a business which underpin its vision
Please note, the aims of a business are likely to differ between the public and private sector, for example:
Private sector
> Survival > Breakeven > Growth > Profit maximisation > Market leadership |
Public sector
> Service provision > Value for money > Service equality > Meeting government standards > Cost control |
Task 3
Individual activity
Read the case study and answer the questions below:
Individual activity
Read the case study and answer the questions below: