Business Aims
Profit Seeking Businesses -> Wish to pay bills, money for extra, employ additional staff, develop
products or services to survive.
Not for Profit Businesses -> Wish to make enough money to continue their business, raise
awareness for a cause or raise funds to support research.
Mission Statement
- Explains the purpose and values of an organization, its aims set out in broad terms, what
the organization sets out to achieve through strategic planning.
- The mission statement and aims should be closely tied to a general sense of direction for
planning.
Aims and Objectives
Aims -> Defines the reason an organization exists.
Objectives -> States how to achieve the aims.
- Aims and objectives will often change, this is because of market forces. For exmaple,
customer needs, availability of products, demand for the product/ service.
Profit Seeking Businesses -> Wish to pay bills, money for extra, employ additional staff, develop
products or services to survive.
Not for Profit Businesses -> Wish to make enough money to continue their business, raise
awareness for a cause or raise funds to support research.
Mission Statement
- Explains the purpose and values of an organization, its aims set out in broad terms, what
the organization sets out to achieve through strategic planning.
- The mission statement and aims should be closely tied to a general sense of direction for
planning.
Aims and Objectives
Aims -> Defines the reason an organization exists.
Objectives -> States how to achieve the aims.
- Aims and objectives will often change, this is because of market forces. For exmaple,
customer needs, availability of products, demand for the product/ service.
