Business At Work
The company that I am doing my research on is Adams is a children’s clothes store. It objectives are to offer its customers with top of the range clothes and also to ensure the customer is satisfied by the way the employee approaches them and with the service offered. Adams other main objective is to make a profit so then that Adams will be able to put some of that money back into the business i.e. giving its staff a bonus at Christmas time or giving their staff a permanent pay rise they also could redo that store to keep it up with modern trends. Adams is one of the leading manufactures across the world with about 400 stores worldwide with 4,000 employees, which gives an annual turnover of ï¿½200 million
What are the objectives of Adams Providing a product. Adams gives its customers a product when they come to purchase their goods but when selling it is a service, which in its self is important to make the customers come back and for their products to have a high quality. Making a profit. Every business will want to make a profit in some way from a small sole trader to a large PLC such as Adams if Adams does not make a high enough profit shareholders might decide to stop investing in Adams which could mean that they will stop investing and Adams can run into financial difficulties
Increasing sales or Market share. Adams will want to keep on expanding their market share seeing as they will like to have less competitors than to have more sells because they will have more market share then any other rival. Providing services to the community. The service that Adams produces to the community is by selling its clothes to its customers at a reasonable price. Surviving. Adams main priority is to survive seeing as if it does not survive in some stores it could mean that it would have to shut down which will lead to loss in profits and makes lots of people redundant and huge unemployment in that area.
Fulfilling charitable or non-profit objectives Adams does participate in helping the local charities like save the children where Adams puts up money boxes for save the children. This is mainly due to that fact that its clothes are mainly aimed at children where there is a link between the two. Developing a skilled workforce a skilled workforce. By making sure that all Adams employees get the relevant training in helping customers and answering their quires towards a customer and they do this correctly then it is likely that the customers will come back so this way Adams will know if it is achieving its objectives.
How Does Adams Know If It’s Achieving Its Objectives Adams has to evaluate its performance so that they can see where their strengths and weakness are and to see what they can do to improve the output of the business Adams will find out whether its achieving its objectives by looking at past records this may include finical documents the detail that this documents will include are the sales Adams made, gross profit, net profit, and other important static’s they will then use these records and compare it to the current static’s to see where the strengths are.
Another way which Adams uses is by evaluating its staff productivity by using a productivity sheet this will show how much that employee has managed to sell. Adams also has interviews with their employees to see how well they think they are doing a review of their progress. The other way that Adams see how they doing is by comparing their results to other Adams stores in nearby region this way they can see each other’s strengths and weakness and comparing to one another. Some of the pointer above will be used as Adams objectives for example developing a skilled workforce by making sure that all Adams employees get the relevant training in helping customers and answering their quires towards a customer and they do this correctly then it is likely that the customers will come back so this way Adams will know if it is achieving its objectives.
How successful Adams is meeting its objectives Adams evaluates it performance is by meeting the stats set by the head office, which is based in Worcester for it day to day running then at the end of the month the results get passed back to them to evaluate to see if they have meet those targets and how they can improve them if they need to. They will also compare them to other Adams stores, which are near the Oxfordshire region, which will give them a better understanding of how well they are doing.
This is a reason why Adams is successful at meeting its objectives by comparing to Adams stores and other competitors, as that is the only way a business can monitor how successful it is this is best reflected in the amount of profit they make. Adams also collects different information such as how different products are doing and the has to try and meet these performance figures as they have different targets each day for different products so if they meet these figures it should mean Adams across the country is doing well.
The information is collected through a network which links all Adams stores together to the head office at Worchester where this data is transferred onto graphs with the targets and the actual performance of the product they also do this with the income of money and then make a break even graph to see how much profit they have generated. This proves Adams is successful at meeting all their objectives by analysing and comparing results.Having now found the above information the business is very successful at meeting its objectives as it has survived for so long, and it has become so well established.
At Adams, we work hard to support the community. As a business, we aim to help improve the quality of life for children and their families. This is demonstrated in our role as corporate sponsor for the Save the Children charity with money raised going towards helping children in the UK and fundraising for Our Lady’s Hospital for Sick Children, a charity supported by our stores in Southern Ireland.