Unit 1 Assignment 4 P4 Aims and Objectives P4 • Mission Statements- setting the purpose of the organisation • Aims – to help the business achieve their strategic plans. Different sectors have different aims • Objectives- these are aims that are broken down to make them more achievable • SMART- this tool helps a business to ensure their aims are achievable. Aims and Objectives • Influencing factors; – Stakeholders- stakeholders will influences business and influence the aims and objectives that they set. – Business environment- the external environment, e.g. The recession will affect the focus and aims of a business – Business type and who owns it- the owner and their personal beliefs and aims will affect the overall business aims. – Business Structure- the functional areas and business organisational structure will affect the aims a business set, how the business is organised will impact on the functional areas work together and meet the business aims. Aims and Objectives • For TWO contrasting businesses research their aims and objectives. • Describe 2 aims and objectives for each business • Explain if the objectives are SMART • Explain the four different factors that affect a business and the aims they set.