Bott Ltd, Manufactures And Supplies Workshop Equipment, At A High Level Of Quality

| A sole proprietorship is easy to create; there is minimal creation cost and time.The single owner has autonomy in decision making; sole owner makes all decisions related to the business and has complete ownership of business’s finances.

An aim is a sense of direction for example taking small steps to reach a certain goal.

The aims are what the school wants to achieve. They could include the goals, targets, intentions and purpose.

Advantages- Less liability for stakeholders. Ability to raise funds/capital in the form of stocks as needed.

An aim is a long-term goal of which takes short – term goals to achieve this which are called objectives.

c. Private companies may issue stock and have shareholders. And are invested by individuals. However, their shares do not trade on public exchanges and are not issued through an initial public offering.

In order to be productive all members of staff should be aware of the goals of the firm. Knowing the goals allows the manager to make effective decisions. The goals of the firm can be viewed as the motives of the entrepreneur’s who own and run the firm. There a number of goals that a firm can pursue in its day-to-day

Their short term objectives would be increasing sales. The vision would centre around employee co-ownership with the happiness of partners as the ultimate purpose. The mission is the satisfaction of employees. Finally, the value would be to represent the best possible choice, as a result of providing the best quality, trust and customer service.

Describe goals and objectives as they apply to business. pg 181-182; wk 6 lecture, pg 1

Goals are integral in helping the company set timelines for fulfilling their core mission (Balanced Scorecard Institute, 2014). The division will focus on goals that focus on the generation of new ideas and how long it takes for these ideas to become business successes. As such, long term and short term goals must be clearly outlined.

Although private limited companies are usually small in size, they are expensive to set up and have to produce proper accounts. Furthermore unlike a sole trader, private limited companies have to pay auditors, hold meetings as stipulated in the Companies Act and share profits between all of the shareholders.

First, I should set my vision and mission towards the company’s profile to set the future goal. Objectives are set to reach the destination by achieving or successfully completing all the strategies by following through an action plan.

There is also an option for Worker Shareholders and Worker Partners, who have a stake in the ownership of the business.

The aims of organisations depend on the type of business they are. For example, the aims of a charity organisation will be quite different from those of a for-profit global business. A business needs to have a clear sense of direction, which must be clearly communicated to all stakeholders. This is the aim of the business which can then be broken down into smaller aims and objectives.

A business’s aim is the main goal that the company wants to achieve, but a company may have more than one aim at one moment in time. A primary aim for any business is to add value in the private sector this would involve making a profit. A more tactical aim would include the following such as expansion, market leadership and brand building.