Aims and objectives in business

The reason for having aim and objectives is to help your business go where you want it to go and to keep it progressing and moving forwards. The aims of Richer sounds Plc are expressed as a “mission statement”. This is because the idea of a “mission” makes it sound a lot more interesting and appealing to whoever is reading it and therefore encourages them to follow it. The aims of Richer Sounds are: 1. To provide second to none service, and value for money to our customers. 2. To provide ourselves with secure well-paid jobs, working in a stimulating and equal opportunities environment.

To be profitable to ensure our long-term growth and survival. Richer sounds considers its aims to be important because they are crucial in helping the business to run and to keep the customers satisfied so that they come back again. Julian Richer (owner of richer sounds) has also put in a system called a “suggestion scheme” whereby every member of staff has a suggestion pad. Julian Richer reads every idea and the ideas are then there for possible future developments, the “suggestion scheme” is an example of “creative thinking” which can prove exceedingly useful in the running of a business.

Richer sounds calls its objectives “goals”, this is another name used to appeal the reader just like the “mission statement”. The goals are: 1. Open between 4-6 stores in the current year. 2. Develop the audiovisual home cinema range and commerce sales of plasma TV’s to sell at least two or three of these each week in each store. 3. Keep the business fun (measured through yearly colleague attitude survey). 4. Keep the level of excellence in customer service above 90%(measured through customer till receipt questionnaires) 5. Control our costs through the cost control group to keep to the budget levels.

PSL Workplace PSL workplace has just one aim and it is simple and straight to the point to keep it easily understood and easy to follow. PSL workplace’s aim is: To understand our customers needs, and to exceed these expectations by under promising and over delivering. Simon Coleman (a shareholder for PSL workplace) believes that by exceeding the expectations of customers and by proving them with a service far greater than they expect, they will be very happy with the service and wont hesitate to come back or to tell others of the excellent service provided.

PSL workplace has three objectives which like the aim are simple, to the point, and easily understandable. These objectives are: 1. To invest in top quality technology and personnel. 2. To provide a high level of training and staff. 3. To provide an environment that allows staff to fulfil their potential. Mr Coleman believes that if staff are given the opportunity to fulfil their absolute potential, they will excel and will therefore enjoy their work, work to the best of their potential, and go up the ranks within the business allowing the staff of PSL to be highly qualified and bring a very professional outlook into the service provided.

Comparison There area number of similarities between the aims and objectives of Richer sounds and PSL workplace and there are also some very important differences. The similarities between the two businesses are that they both feel that customer satisfaction is the most important aspect of running the business, they believe that with customer satisfaction, the majority of the other aspects of the business will fall into place.

This similarity is shown between the first aim of Richer Sounds “To provide second to none service and value for money to our customers” and the aim to PSL workplace “To understand our customers needs, and to exceed these expectations by under promising and over delivering”. The differences between the aims and objectives for Richer sounds and PSL workplace simply lie in the difference of service that they provide. While Richer sounds is selling goods to the customer PSL workplace is constructing the goods for the customer and therefore the two businesses have range of differences between the objectives that they wish to carry out.

For example, PSL workplace finds it important to “invest in top quality technology” while Richer sounds finds it important to “be profitable to ensure long term growth and survival”. After acknowledging the similarities and differences between Richer sounds and PSL workplace I think that the two businesses run in very similar way and function to meet the same requirements such as customer satisfaction. However the different services that the two businesses provide bring a clear boundary within the similarities.

Richer sounds tries to take a more impressive approach by producing “mission statements” and “goals” while PSL Workplace prefers to take a more professional approach. Overall I believe that Richer Sounds tries to impress its customers by showing off while PSL Workplace tries to impress its customers by surprising them by giving them more than they expect. Both of these techniques are very cunning ideas and help to achieve both businesses main goal; customer satisfaction.