So as written above, it is noted down that Boots has many aims and objectives and as you continue to read thoroughly through, the information presented, it will become much clearer as to how Boots works to meet its aims and objectives. Boots consists of smart objectives. These objectives are more than just general achievements made by a business; instead they are much more specific. Smart objectives stand for: Specific: this involves making the objectives definite. Measurable: Decide whether the objectives can be reached Attainable: Deciding if these objectives are valid.
Relevant: seeing how they relate to the business Time- related: seeing if the objectives can be reached in time. Commercial aims Boots would also have written aims because this would form part of its overall policy or strategy. These aims might be included in the businesses mission statement which would have the following saying: “Boots aims to be the place for health and beauty customers. We want to secure market leadership in the UK and build on our brands’ growing success internationally. ” As for Boots having written aims, it is likely to have commercial aims.
Commercial aims are those that have a direct bearing on the commercial efficiency or profitability of the business. The more widespread and influential of these is profit. Stating aims Boots is also likely to have stating aims which would have official aims placed into a statement confiding the businesses policy. Profit as an aim These aims are overtly about trying to increase profit. And it’s noted that all businesses are actually profit-related because without achieving a profit a business would be unable to improve its service, compete or expand.
This source of information is relevant to Boots as a company due to the fact that it shows how much boots is worth at a particular period of time. Shown above is Boots’ annual turnover. The name given to this can be defined in two words: Annual-covering or lasting for the period of a year Turnover-the amount of money taken by a business in a particular period/the amount of business transacted in a particular period With this it is much easier to identify when Boots was most successful and how much it progresses as the years go by.
As shown, it can be seen that, between the times of 1990-91, less money was transacted by Boots which Is understandable because this was when the business was just starting up and therefore, would’ve needed the basics to help there business start-up. Up until the times of 1998-1999, there is the general trend of Boots transacting more money, however between 1999-2000 the transactions of money falls to 1150 which could have been the cause of less in-going customers or the company failing to sell some of its products and as a result having these left-over products save them from spending as much money to buy more.
This information was gathered from the boots website (Boots. co. uk) Boots does much to try and make sure it meets its aims and objectives. For example, because Boots wants to be increasingly profitable in both of its core businesses, it hopes to enforce new strategic methods that will bring together a leaner management team. This management team will work once Boots goes through increased, carefully targeted investments in stores, products and brand developments. Boots would also need to be extremely competitive when it reaches a time of operational efficiency.
According to Boots Retail International, another thing that Boots is focusing on is supplying Boots foreign market. This aim will be met hopefully after, Boots implants on larger established foreign stores. As mentioned earlier, it was shown that Boots healthcare has an aim of its own which is to, become a top 10 global player in over the counter healthcare. This specific department in Boots hopes to achieve this aim by supplementing their organic growth through marketing and new product development with acquisition of other major brands.
y doing this, the aim of wanting to be the place for health and beauty customers can hopefully be achievable. As Boots also wants to secure market leadership in the UK, it has been involved in many activities. These activities involve it to focus mainly on the twofold goal and have two Core businesses- Boots the chemist Ltd and Boots Healthcare International. Boots now develops, manufactures and markets products both in the UK and to larger worldwide customer base.
Plus, because Boots aims to build on its brands, it has done market research so it can acknowledge whether or not there is enough space for building and gathering their thoughts on new ranges. These are just some of the aims that Boots hopes to achieve. With the rest of them listed above I can now clearly outline the main thing Boots does in order to accomplish its aim. Boots has worked on a simple structure that involves using the twofold goal and having to core businesses. And, Boots has also worked on a simple strategy which means bringing forward a leaner management team under leadership.
All the things listed above have participated in making Boots able to achieve all of its aims and objectives. For example, because Boots wants to be increasingly profitable in both of its core businesses, it hopes to enforce new strategic methods that will bring together a leaner management team. This management team will work once Boots goes through increased, carefully targeted investments in stores, products and brand developments. Boots would also need to be extremely competitive when it reaches a time of operational efficiency. Price Waterhouse Coopers also does many things in hope to achieve its aims and objectives.
I will now give a brief understatement of how PWC hope to achieve its aims and objectives. On a basic note, PWC has held grouped discussions and has used connected thinking in order to achieve its aims and objectives. To discuss in greater detail, PWC’ aims and objective are very alike. A summary of Price Waterhouse Coopers aims is to say that each and every one of them involve this company wanting to build a safer, better and stronger company. To meet this aim they are relating to others and holding personal meetings to help everyone be civilised and build public trust.