Thursday, 24 November 2011

Why change business aims and objectives

Hi year 11


I can now confirm that Mr Drake will be delivering his masterclass on Wednesday 7th December as part of your exam preperation.  I would hope that you will take this valuable opportunity as a rare treat in the hope that he would be suitbably impressed with you and tempted to repeat the activity for your paper two submission.


Today we are going to prepare for our second article for 'Enterprise Today' based on why a growing business may wish to change its business AIMS and OBJECTIVES as it gets stronger and more profitable.  Clearly you will need to revisit the UNIT 1 knowledge from the core text Pg 10 -15.  You can then consider what opportunities may tempt the operation by looking at the theory on pg 143-148 which will support your UNIT 2 knowledge.


Other resources include:
http://my.dynamic-learning.co.uk/Default.aspx?cid=15451


Worksheets


Start up objectives
Business objectives - financial
Business objectives - non financial


Task


Write a 250 word article on why changing business objectives keeps both the owner, employees and customers excited about using the company.  

  • Your introduction should talk about how difficult it might be to launch  and survive the first few years of trading particularly in a recession and suggest how over time the focus may change to profit maximisation and ethical and environmental considerations that can be used as PR to market the products and services sold i.e. Bodyshop when they started out would be a good example of this.  
  • You can then finish by saying how growth can be created through INNOVATION and DIVERSIFICATION and even going INTERNATIONAL in this GLOBAL marketplace. Remember ETHICAL and ENVIRIONMENTAL considerations will always bring possitive PR or negative PR if you dont manage it well.
  • Your conclusion should state what might happen if you don't change your business aims and objectives!
Homework
Complete your 250 word article and submit by email before the next lesson - Wednesday 30th November 2011

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