Welcome to the lesson today.

hank you for arriving early for the lesson today.

While you wait for everyone to arrive have a go at the activity below – feel free to discuss it
ith your classmates and your teacher.

Cat, Dog, something else or none? What kind of pet do you have?
This week we will be looking at
Aims & Objectives
Textbook Reference – Pages 11-18
Year 10 Edexcel IGCSE Business

Lead Lesson
Aims & Objectives
40 minutes
 LEARNING OBJECTIVES

• You will be able to describe the terms aim and objectives

• You will be able to provide examples of different types of aims and

objectives

• You will be able to explain why aims and objectives are important and why
they might change over time.
DELETE THIS SLIDE IF NOT NEEDED AFTER PASTING YOUR
SLIDES ACROSS.

Paste your slides under this slide in the ‘lesson material goes here’
header in the left hand panel.
 BUSINESS AIMS & OBJECTIVES

• In this topic you will learn about

• The purpose of business aims & objectives.

• Different types of business aims & objectives.

• Why business aims/objectives may change over time.

usiness Aims

business aim is a goal that a business wants to achieve.

usiness aims will vary from one business to another e.g.

• a new business may want to survive in its first year
• a sandwich shop may want to gain more customers

business might set different aims for the short, medium and long
erm

What are your aims for the short, medium and long term?
ypes of Business Aims

•Survival
• The ability of a business to continue to exist.
• Need enough money to pay expenses.

•Profit
• To receive more money in sales than the costs.

•Growth
• To expand, may be through more customers, more sales, more branches.

•Sales
• Revenue coming into a business.
ypes of Business Aims

• Market Share
• The percentage of the total market that one brand or
business owns.
ypes of Business Aims

• To provide effective service to the public

• A satisfied customer leaves happy and is more likely to return

• Avoids negative publicity

• Positive advertising through word of mouth

• Helps achieve other objectives e.g. survival, profit and growth

Does the level of customer satisfaction

effect the staff as well as the customer?
ypes of Business Aims
• Social benefit
• To support a good cause e.g. a charity
• To help society

• Ethical
• To do the morally correct thing
• Can help attract customers

• Sustainable
• Making use of renewable resources
• Reducing waste
• Using energy in a more efficient manner
Objectives

specific target that the firm wishes to achieve. Set at a corporate

evel and for each business function.

or example increase sales by 25% over the next 6 months.

ypes of objectives

• An objective is when you start to attach a numerical

meaning or value to an aim. For example aim – make a
profit – objective increase profit by 10% over 6 months.

• Objectives should be ‘SMART’

• S_______
• M _________
• A_________
• R________
• T____

Your objective is to work out what SMART stands for!!!!!

 SMART Objectives

• Specific – target a specific area for improvement.

• Measurable – quantify or at least suggest an indicator of progress.

• Achievable – can it be done.

• Realistic – state what results can realistically be achieved, given available

resources.

• Time-related – specify when the result(s) can be achieved.

urpose of setting objectives

• Setting targets that the business can work towards

• Measure performance
• Take corrective action

• These provide a clear focus for the business

• Can motivate staff
• Aids decision making

• Objectives may change as the business changes

Why business AIMS/objectives may change over time

What do you want to be when you “grow up”?

When you were 5 what did you want to be?

Had this changed by the time you reached secondary school?

Has it changed again now?

Why do your objectives change?

Why do Aims and Objectives Change?

s the business grows.

hange of ownership structure.

hanges in the market/demand.

hanges if the economy – for example rescession.

s targets achieved.
Lesson Plenary

the end of each lesson, we will hold a plenary session. In this

tion of the lesson you should:

k any questions you have about the topic that has been covered in
e lesson.

view our learning objectives.

ovide feedback via the “Making Business Better” discussion on the

rning platform.
 LEARNING OBJECTIVES

• You will be able to describe the terms aim and objectives

• You will be able to provide examples of different types of aims and objectives

• You will be able to explain why aims and objectives are important and why
they might change over time.
LESSON COMPLETE
SEE YOU NEXT LESSON!