LEARNING OBJECTIVES
• TO KNOW THE DIFFERENCE BETWEEN A BUSINESS AIM AND A
BUSINESS OBJECTIVE.
• TO UNDERSTAND THE IMPORTANCE BUSINESS HAVING AIM AND
OBJECTIVES.
STARTER
WHAT IS YOUR PERSONAL GOALS IN
YOUR LIFE?
PERSONAL GOALS

SELF-DEVELOPMENT

PROFESSIONAL SUCCESS

FAMILY LIFE

LIFE AS A WHOLE
SET YOUR GOAL/S
WRITE DOWN ONE OF YOUR GOAL ON THE
WORKSHEET GIVEN
SET YOUR GOAL/S



WHAT DO I WANT OUT OF LIFE?
WHAT KIND OF FAMILY LIFE DO I IMAGINE?
WHAT ARE MY CAREER ASPIRATIONS?
WHY YOU NEED TARGET IN LIFE?
• TO GROW AND MATURE AS A PERSON
• DEVELOP NEW SKILLS TO BE SUCCESSFUL PROFESSIONALLY
• PRACTICE COMPASSION AND GENTLENESS TO HAVE A FULFILLING FAMILY
LIFE.
• IS A PROCESS THAT NOT ONLY
GOAL
SETTING
HELPS US TO GET BETTER
RESULTS BUT ALSO TO FEEL
MOTIVATED AND TAKE
RESPONSIBILITY FOR OUR
ACTIONS.
IT MAKES US ACCOUNTABLE
FOR OUR OWN MISTAKES AND
FAILURE INSTEAD OF
PUTTING THE BURDEN ON
SOCIETY, CULTURE, OR THE
PEOPLE THAT SURROUND US.
WHAT IS YOUR TARGET IN BTEC?
TO GET 2 ‘O’ LEVEL CREDIT
WHAT YOU SHOULD DO TO ACHIEVE YOUR
GOAL?
LIST DOWN THE THINGS THAT YOU SHOULD DO TO ACHIEVE
YOUR GOAL
(ACHIEVING 2 ‘O’ LEVEL CREDIT)
BUSINESS AIMS
 THE STRATEGIC GOALS OF A BUSINESS; THINGS THAT A BUSINESS WANTS
TO ACHIEVE.
 AN AIM IS WHERE THE BUSINESS WANTS TO GO IN THE FUTURE, ITS GOALS.
IT IS A STATEMENT OF PURPOSE, E.G. WE WANT TO GROW THE BUSINESS
INTO EUROPE.
FOR EXAMPLE: TO SURVIVE, TO MAKE PROFIT, TO GROW SALES
 THE LONGER-TERM VISIONS OR GOALS OF THE BUSINESS.
 AIMS ARE SET TO PROVIDE A FOCUS FOR THE BUSINESS.
BUSINESS OBJECTIVES
 MORE SPECIFIC THAN AIMS.
 BUSINESS OBJECTIVES ARE THE STATED, MEASURABLE TARGETS OF HOW
TO ACHIEVE BUSINESS AIMS. FOR INSTANCE, WE WANT TO ACHIEVE SALES OF
€10 MILLION IN EUROPEAN MARKETS IN 2004.
 THEY ARE SET OVER THE SHORT TO MEDIUM TERM.
WHO SET THE
AIMS AND
OBJECTIVES
OF THE
BUSINESS?
THE OWNERS;
DIRECTORS/MANAGERS OF
THE FIRM
WHY SETTING AIMS AND OBJECTIVES?
HELP WITH DECISION MAKING. THIS
ALLOWS BUSINESSES TO DECIDE WHAT THEIR
MAIN FOCUS SHOULD
BE. AIMS AND OBJECTIVES ALSO SHOW KEY
STAKEHOLDERS, SUCH AS INVESTORS AND
EMPLOYEES, THE DIRECTION
THE BUSINESS IS PLANNING TO TAKE.
GOALS DESCRIBE WHERE THE OWNER WANTS THE
COMPANY TO GO; OBJECTIVES DEFINE HOW TO GET
THERE. BUSINESSES THAT DO NOT IDENTIFY THEIR
LONG-TERM GOALS AND DO NOT CREATE WORKING
OBJECTIVES, WILL GROW AND DEVELOP MORE
SLOWLY THAN OTHER COMPANIES, IF THEY GROW AT
ALL.
OBJECTIVES ARE IMPORTANT
TO COMMUNICATE AND ASSIGN
RESPONSIBILITIES OF
PERFORMANCE TO
EMPLOYEES.
WHY
DIFFERENT
BUSINESSES
HAVE
DIFFERENT
AIMS AND
OBJECTIVES?
HAVING DIFFERENT
CIRCUMSTANCES
• UNCERTAIN ABOUT THE BUSINESS
A NEW
STARTUP
BUSINESS
• WILL CUSTOMERS DEMAND THE PRODUCT?
• CAN IT BE DELIVERED PROFITABLY?
• CAN ENOUGH REVENUE BE EARNED?
• DOES THE BUSINESS HAVE SUFFICIENT
RESOURCES?
THE AIMS OF THE STARTUP TEND TO BE
FOCUSED AROUND ACHIEVING SURVIVAL AND
ESTABLISHING THE PRODUCTS IN THE
TARGET MARKET.
• FACES FEWER RISKS OF FAILURE.
AN
ESTABLISHED
BUSINESS
AIMS WILL BE VERY MUCH DEPEND ON WHAT
THE BUSINESS OWNERS WANT FOR THE
FIRM.
EXAMPLE
• TO MAXIMISE PROFITABILITY OR SALES
REVENUE.
• TO TRADE ETHICALLY
• TO FOCUS ON ENVIRONMENTALLYFRIENDLY ACTIVITIES
YOUR TASK
PLENARY
• AIMS AND OBJECTIVES ARE VERY IMPORTANT IN
BUSINESSES, SO THAT THEY CAN PLAN AND DO THINGS
ACCORDINGLY TO THEIR PLANS.