2.1.2 Changing Business Aims and Objectives.pptx
Do now
2.1.2
Define the term business?
Explain the differences between Ltd and Plc
What does SWOT stand for and how do we use it?
Items in this lesson
Do now
2.1.2
Define the term business?
Explain the differences between Ltd and Plc
What does SWOT stand for and how do we use it?
2.1.2
Define the term business?
Explain the differences between Ltd and Plc
What does SWOT stand for and how do we use it?
Business is an organisation that produces a good or provides a service
Private limited companies (Ltd) aren’t available to the general public, Public Limited companies can trade shares on the stock market
Strengths, weaknesses, opportunities and threats. We use it for marketing, development and analysing any potential change needed
Changing business aims and objectives
Learning Objectives:
By the end of today’s lessons, you will be able to discuss why business aims and objectives change as businesses evolve.
By the end of today’s lesson, you will be able to discuss how business aims and objectives change as businesses evolve.
2.1.2
Why do businesses change aims and objectives?
2.1.2
Who are these people?
In 1997 the Spice Girls were the only girl group in the charts. Their aim and objective was to prove that girl groups could be as successful as boy bands.
Why do businesses change aims and objectives?
2.1.2
However, in 2007 they were also competing against other girl groups like...
identify why the Spice Girls would have to change their aims and objectives now?
Reasons for change
2.1.2
Change in competitors: If there are more competitors, the business would need to change their strategy to remain relevant, however if there is less competition, businesses can focus on other areas.
Technology: An increase in technology may change a businesses production processes, therefore the aims and objectives will need to change.
Performance: If a business is improving their performance or their performance drops, aims and objectives will need to change in response.
Legislation: The government may bring in legislation that impacts how a business operates. For example if Living Wage increases, aims and objectives relating to spending will need to change.
Internal Response: When something in the business changes such as management, the aims and objectives may change.
Identify 5 methods that you think a business may adopt to change their business aims and objectives.
Focus on survival or growth
Entering or exiting markets
Growing or reducing the workspace
Increasing the product range
Decreasing the product range
How do aims and objectives change?
2.1.2
Methods
2.1.2
On the chrome books (or your own laptop), create a factsheet on the methods of how business aims and objectives change.
Include the following for each and then hand it in on your google classroom:
The definition of each method
A business example that has done this
Advantages of this method
Disadvantages of this method.
Exam style question
2.1.2
Discuss the factors that influence why a business changes its aims and objectives as it evolves.
(6 marks)
POINT: IDENTIFY THE POINT, DON’T DEFINE THE TOPIC
EXPLAINATION: EXPLAIN THE POINT, TELL US WHAT EFFECTS THE POINT CREATES. (Link to a case study if it has one)
OUTCOME: WHAT DOES THAT LEAD TO?
Blooket!
2.1.2
Using the information you have gathered throughout this lesson, you will be challenging each other to gain gold.
