(Finance, Accounting, Taxes & creative knowledge)
Concepts
of Business aims and objectives
Mission
statement
A mission Statement summaries the purpose
of an organization (usually a company) by stating what the organization stands for.
The mission statement can sometimes be expressed or expended in the form of a vision statement for the organization. The
mission statement therefore gives people an idea of why the organization exists
and what it seeks to achieve. As a result , all stakeholders –groups with an interest in the organization, such as
employees, manager , owners , suppliers, customers and the local community –
can understand (and follow) its goals
and objectives. The mission statement therefore shows the core purpose of business, i.e. what it stands for.
Key
words
*Mission statements
can be found on various enterprise websites.
*Our Vision: To be the most innovative business
in the world.
Business
Aims and Objectives
Business aims
indicate what the organization wants to
achieve in the long run. These aims may have both commercial and social
influences.
Commercial
Aims
link closely to the business owners, showing what they want from the business.
An established and successful company is likely to have business aims such as
making a profit expanding, and selling quality goods, whereas the main aim of a
small, recently set up one –person business is likely to be surviving its first
year.
Key
Words
The private sector also
includes social enterprises.
Businesses in the Private Sector, such as companies and
franchises that are set up to make profits for their owners, have various aims.
Their owners will want them to survive in the very economical world in which
they function. If losses are made in the short term, these may be put up with
in the hope that business will improve in future. They may also have the aim of
gaining a larger market share.
Growth
is
an aim closely linked to market share and to survive larger businesses are more
likely to survive by gaining economies of scale and they will have more control
of the values they custody and of their market in overall.
Entrepreneurs are
in the private sector to make a profit. This profit motive encourages people to
either invest in existing businesses or to establish themselves in business,
perhaps on their own or in partnership with someone. By growing and increasing its
market share, the business is more likely to make acceptable profits for its
owners.
Key
Words
The entrepreneur may
have a personal desire to see the business grow.
The
main aims in the private sector
Key
Words:
There are close
links between the aims of business.
In Addition to the
private sector, the India has organizations in the following Sectors:
*Public sector- the part of our economy
involving the work of central and local government organisations.
*Voluntary
Sector: also
called the nonprofit sector or ‘the third sector’ in our economy. Examples include
charities, volunteer community organizations and religious organisations.
Many private sector
businesses, and organisations in the public and voluntary sectors, have social
aims that they have established to benefit the local community or society in general. For example they might set an aim to create
local jobs, or to be more environmentally friendly, organisations that provide community
services (such as schools) are likely to have such aims. These organisations
might aim to improve the efficiency of the services rather than make a profit, although
the need to make profits or surpluses might influence these “efficiency” aims.
Key
words
*(Department
for work and pensions) we are promoting work as the best form of welfare,
helping more people into work and supporting those who can’t work.
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