Aims & Objectives in Business

Written by georgia dennis
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Aims & Objectives in Business
Review your business aims and objectives at least biannually. (Jupiterimages/Brand X Pictures/Getty Images)

Businesses need aims and objectives to succeed, and most businesses benefit from taking stock periodically to determine or reassert what their aims and objectives are. A business's aims are the goals it wishes to achieve, and the business's objectives are the steps and strategies they employ to attain their aims. Most businesses have some generic aims and objectives in common.

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Reputational

Most companies want to ensure they have a good reputation among the general public. This is both an aim and an objective. Companies can enhance their business reputations by sponsoring local youth organisations or charities and by maintaining excellent customer service. Reputational aims and objectives also include advertising and publicising the company, especially new or smaller businesses.

Advertising

Advertising is a more exact way of demonstrating a business's reputation to its target audiences. An aim might be to get the company name spread to a certain age bracket that the company hasn't targeted before. An objective might be running six television ad campaigns during that age bracket's most popular TV shows.

Profit

The ultimate goal for most businesses is profit. Without financial gain, a company cannot stay in business. During an aims and objectives meeting, a certain percentage increase in the company's profits may be discussed. Any financial gain is discussed, and ways to increase it brainstormed. The desired percentage increase decided on is the company's aim, and the ways it plans to increase profits are the objectives. For businesses where profit is not the main goal, such as non-profit charities, profit aims are replaced with the charity's main mission, such as feeding the poor or clothing underprivileged children.

Future

Future aims and objectives are similar in purpose to a one-year or five-year plan. Company officials will discuss the long-range aims and objectives they want for the business, and what direction they see the business heading. They will determine aims for each of the other types of general aims, such as advertising and profit, and will draft out a rough plan to achieve them. These future aims will then be analysed and steps outlined to meet objectives.

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