Transcript Aims & Objectives - School

Unit 8: Business Planning
Aims & Objectives
Starter Exercise
Fill in the missing blanks
 Business success relies upon a clear vision of the
______________ (goal/role) being pursued. The
starting point is to agree on the ____________,
which present the goals in a general way. To
achieve these general aims, it helps to set
_____________________, which are more
precise targets of what should be achieved and
by when. A strategy can then be agreed on how
best to achieve these objectives.
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OBJECTIVES
MISSION
AIMS
Drag and Drop
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http://www.businessstudiesonline.co.uk/li
ve/index.php?option=com_content&view=
article&id=35&Itemid=23
Strategic or Tactical Objectives
What is the difference between an aim and an objective?
Sort the following into either aims or objectives.
Aim/Objective
1 To diversify our business
2 To make home-delivery, authentic Italian pizza available to every
home in Britain
3 To allocate £400,000 to developing a brand new website
4 To increase market share to 8% by the end of next year
5 To achieve brand awareness among the majority of the target
market within three months
6 To offer a three for the price of two promotion.
7 To get promotion to the Premiership within 5 years
Aims
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“I’ll Have a P Please Bob” – many 6th
formers said this to Blockbusters host
Bob Holness, with a smirk on their
faces. Divide the class into 2 teams
and try this legendary game show
yourself
http://www.youtube.com/watch?v=As
SzXq34ysg
http://www.teachersdirect.co.uk/resources/quizbusters/quiz-bustersgame.aspx?game_id=7274
Aims – Mix and Match
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Complete the following exercise:
..\..\..\GCSE Unit 2 Growing a
Business\Aims & Objectives\BUSINESS
AIMS AND OBJECTIVES.doc
Which Aims?
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Watch the following video clip.
http://www.smarta.com/advice/startingup/starting-your-own-business/i-had-anair-of-naivety---fraser-doherty
What do you think his aims were when he
first started in business?
What do you think his aims are now?
SMART Objectives
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A simple way used to set objectives is called SMART objectives.
What does SMART stands for:
1. Specific – Objectives should specify what they want to achieve.
2. Measurable – You should be able to measure whether you are
meeting the objectives or not.
3. Achievable - Are the objectives you set, achievable and
attainable?
4. Realistic – Can you realistically achieve the objectives with the
resources you have?
5. Time – When do you want to achieve the set objectives?
ARE YOU SMARTER THAN A 10 YEAR OLD?
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In what way are the following objectives Smart?
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To increase sales revenue by 8% next year?
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To cut carbon emissions in European operations
by 5% over the next 24 months
To recruit 10 highly motivated staff in the
marketing department in the next year.
ARE YOU SMARTER THAN A 10 YEAR OLD?
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How could you improve the following objective?
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To increase profit by £1 million
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To increase profit by £1 million in the next week
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To improve brand awareness
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To grow by 15 % in the next five years
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To survive the credit crunch
TASK/HOMEWORK
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Write a set of SMART aims and objectives for your business.
Use the format:
Aim To attract sufficient customers to be able to break even within
the first year of trading
Objective To run a small marketing campaign during the months of
July and August to try and attract new customers.
Put this into your business plan.
Explain why you have chosen these aims and how SMART they are.
Label this and put it as an appendix.
Deadline: To be handed in next lesson.
Plenary
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Complete the crossword at the following link:
http://sixthsense.osfc.ac.uk/business/quiz/aimsa
ndobjectives.htm