A Clear Description And Explanation Of The Objectives Of The Business
A Clear Description And Explanation Of The Objectives Of The Business For this assessment I will produce a detailed business report on McDonalds. In my report I will consider the different business objectives of McDonalds and compare it with others. I will observe the different factors that relate with each other and the affect it has on the performance of the business, also find out if McDonalds are reaching their objectives.
Businesses live to provide goods and services for the people. All businesses, whether aiming to make a profit or not, have to make products to provide services that satisfy customer wants and needs. Businesses set themselves objectives that manage the way they run. 1 Making a profit 2 Surviving 3 Increasing sales or market share 4 Providing services to the community 5 Producing high quality products or offering high quality services 6 Developing a skilled workforce 7 Fulfilling charitable or non-profit objectives such as caring for the environment and social responsibility. A Description And Explanation Of The Objectives Of A Business.
All business have particular attitudes, values, views and beliefs that make up their culture. McDonald’s attitude, values, views and beliefs divine the way McDonald’s do business. McDonald’s will want the best management available in their restaurants, and will look for educated people in business management. McDonald’s will always want to increase their quality of their workforce, by making sure they go through a training scheme, to minimise mistakes.
McDonalds usually employ workers of the age of 15, but only 16 year olds and over can work on the till and in the kitchen. Focusing on training and communication is important with employees to increase the environmental awareness and relevant skills of everyone who works for McDonald’s. Maximising objectives are seen as, when businesses want to reach the highest point and get the most of profits, marketing, social responsibility and management. Minimising objectives are seen as the opposite to maximising objectives. When a business wants to minimise rather than maximise. Businesses tend to minimise labour turnover. McDonalds innovation objectives are having the best technology, so they can offer the easiest and best service to customers every time.
Their tills have a quick and easy way of how to use, example, if a customer wants a big Mac, fries and a coke, the worker only has to press one button. Making A Profit Making a profit is one of the most important things to do in a business. For the reason that if they do not make a profit they would not be able to do all the things it wants to do, like without profit making McDonalds cannot keep its shareholders happy, pay higher wages to its employees or invest they money and then improve its products and expand into new markets.