In September 1996, Lloyds Abbey Life became a wholly-owned subsidiary of Lloyds TSB group. Unit 1 Investigating Business Assessment Objective 1 Business Aims ? These are what a business sets out to achieve. They are quite general. For example a Businesses aims could be to make profit, expand and be competitive...
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They are quite general. For example a Businesses aims could be to make profit, expand and be competitive. Businesses have aims and objectives because if they do not have aims and objectives set they will not be efficient and will not have a clear idea of what they want to achieve. Other objectives may be: ? To survive ? To build up a good reputation resulting in increased custom ? Increase the size of the customer base ? Develop a new range of products ? Become more efficient ? Maximise turnover ? To breakeven Four aims Lloyds TSB may have ? To build up a good reputation ? Example: Lloyds TSB would honour legitimate insurance claims, look after loyal customers, have competitive Loan/Interest rates and good customer services...
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