Objectives

1. Objectives

2. Aims of a Profit Making Business • Turnover is vanity • Profit is sanity • Cash is king

3. Types of Organisations Franchising?

4. Profit Companies such as Virgin have several objectives but their over-riding one is to make a profit.

5. Is the profit motive sufficient? • Short term • Quick return • Long term • Investing for the long term • Market share • Increase our share of the market • Move into a market not already saturated • Market growth • (organic or through acquisition ) • Satisficing • Where I live is more important than the maximum return for shareholders • Survival • Lifestyle • Loss maker • Avoiding paying to much tax • Loss leader • Killing off the new competition

6. Some possible other objectives • fairtrade • Buy local • Sustainable • Environmental • Peaceful • Humanitarian • Educational

7. Regulatory Organisations such as Suffolk County Council have many objectives. Suffolk is a public sector organisation and one of its objectives is to regulate in areas such as planning, Parking, health and safety, food safety and esuring trading standards are maintained.

8. Community A community’s objective is likely to be affected by what is happening in the local environment. The community might be campaigning to protect the local habitat or hoping to maintain the status quo. Community objectives will be consistent with what is best for maintaining their lifestyles and living standards.

9. Charity A charity’s objectives must be consistent with their terms of reference. • Why does the charity exist? • What is it trying to achieve? • Objectives might include: • Raising awareness • Raising revenue • Campaigning for a cause

10. GovernmentObjectives of government should be consistent with the manifesto produced before an election.In reality things change and objectives change too. Objectives might include: • Increasing taxes in order to raise more revenue • Decreasing taxes in order to stimulate private spending. • Creating a fairer society • Developing a more productive economy • Raising living standards or educational standards • Protecting the National Health Service

11. M1 - Compare the methods used to achieve these different objectives, with examples from two different organisations.

12. BTEC Assessment General – Learning Outcome for this assignment. Understand the purposes of organisations and their goals: • Types of business organisation: sole traders; partnerships; companies (public, private); co-operatives; • charities; state enterprises; international businesses; • Objectives: profit maximisation, profitability; sales (value, volume); growth; internationalisation; market • share; market power; welfare; stakeholders; coordinating activity to achieve goals

13. M1 - Compare the methods used to achieve objectives in two contrasting organisations For M1, learners should, for two selected organisations, compare their objectives and the methods used to achieve these objectives. Sufficiently contrasting organisations should be selected and the activity can build on the work for P1 and P2. For example, a welfare-maximising healthcare provider will provide screening and preventative services which help prevent more complex problems that would be costly to treat and eradicate.

14. M1 looks at 2 contrasting organisations • Private V Public? • Voluntary? compare their objectives and the methods used to achieve these objectives.

15. Break down the information into: • Objectives – be specific. • How the business tries to achieve these objectives.

16. Oxfam - Objectives Oxfam is a global movement of people who share the belief that, in a world rich in resources, poverty isn't inevitable. It's an injustice which can, and must, be overcome.  Oxfam is “dedicated to building a just and safer world focusing on people's basic rights” (http://www.oxfam.org.uk/what-we-do/about-us)

17. Oxfam – How does it achieve its objectives “Oxfam. What springs to mind? Charity shops and second-hand clothes? Africa? Think bigger. Much bigger. Last year, our emergency and development work reached a staggering 13.5 million people! Thanks to our amazing supporters.” http://www.oxfam.org.uk/what-we-do

18. Oxfam • 4.3 millionpeople reached by health promotion activities • 700,000people benefiting from support to improve their crops, goods or services • 2.6 millionpeople benefiting from improved sanitation facilities  • http://www.oxfam.org.uk/what-we-do

19. D1 - Selecting one organisation, discuss how its performance relates to its objectives: • Is the organisation meeting its objectives? • Explain how.

20. D1 - Analyse the performance ofa selected business against itsstated objectives For D1, learners should look at the behaviour of a selected business and explain its behaviour in terms of the market in which it operates. A sole trading convenience store on a local high street near to a railway station might provide food for thought. It operates in an industry with few barriers to entry but it exploits its location by charging consumers high prices for bread and milk because for the weary homeward bound traveller they constitute distress purchases.

21. D1 looks at Performance against objectives • What am I trying to achieve? • How am I doing? • What am I doing to get there? • Details of: • my business model • my business offer and marketing strategy • my operations