Aims of business

1. Corporate Social Responsibility

Hanes Launches 2018 National Sock Drive to Help the Homeless
That is why America’s No. 1 basic apparel, underwear and sock brand is donating 225,000 pairs of socks to organizations fighting homelessness across the United States in its ninth year of sponsoring the Hanes National Sock Drive. Hanes is continuing to partner with national agencies, including The Salvation ArmyInvisible People and Covenant House, while increasing the local impact of the program by engaging directly with at least one agency in every state to distribute the apparel. Since the program’s inception in 2009, Hanes has provided more than 2.5 million pairs of socks – the most requested item by relief agencies – to help the homeless.

“Most of us take basic apparel for granted, but we know a clean pair of socks can mean a lot to those experiencing homelessness,” said Sidney Falken, chief branding officer, HanesBrands. “Although we can’t solve this chronic issue facing our country, we are committed to bringing a little comfort to those who need it most.”
Corporate Social Responsibility (CSR) is an important ethnical concept which can improve a firm’s reputation in public. By having CSR a company usually can have better relationship with carious stakeholders as the company show they are concerning the environment and other social problems.The concept of CSR is becoming more popular as many workers would prefer values and ethics over high pay. The brand Hanes doing charity work to socially disadvantaged people can be a great campaign for raising awareness to consumers and show they are ethical business where profit is not the only motive.

2. Increase market share

2017 was a great year for Mac sales

“The fourth quarter results showed some potentially encouraging headway against the difficult environment in retail and consumer PCs,” said Jay Chou, research manager at IDC.

“Enticed by a growing array of products that promise all-day battery life, high portability, and address emerging use cases that require more compute power, pockets of the consumer base are taking a serious look at these revamped PCs.”

Apple shipped a total of 5.77 million units, according to IDC figures, with gave the company an 8.2 percent share of the PC market. During the same quarter last year, it shipped 5.37 million units, resulting in a market share of 7.7 percent.

Maintaining and increasing market shares is an objective that every company will care about as it determines the size of the business in the current market, how is their business comparing to their competitor, and how much potential does it have to grow. This aim is considered by shareholders to evaluate the director’s ability, and by banks when the company is applying for a debt. Businesses often take many business strategies to raise or maintain market shares.

3. Revenue Maximisation

Alibaba revenue jumps 61% but one-time expense hits profit

Chinese retail giant Alibaba said on Thursday that its revenue jumped 61 percent in the latest quarter as its core e-commerce segment chugged along, but profit for the period was dragged down by a one-off expense.

The Hangzhou-based company said net profit was down 41 percent year-on-year to 8.69 billion yuan ($1.26 billion) in the quarter ending June 30.

But it added that net income would have grown by 33 percent in the period if not for a compensation award for employees related to Alibaba’s payments unit Ant Financial.

Alibaba, which has made billionaire founder Jack Ma one of China’s richest men and a global e-commerce icon, has wowed investors quarter after quarter with sterling revenue growth fuelled by the growing appetite of Chinese consumers for one-click online purchases.

Although businesses have the ultimate aim of maximising profit, many of them will think about maximising revenue as well. Revenue maximization is a concept similar to profit maximisation but, rather, its aim is to maximise the revenue that is brought into the company as a result of its business. It allows the business to gain a larger market share, as an increased quantity of goods can be produced at the point of revenue maximisation, increasing the amount of goods produced by the business in the market and, in essence, increasing its market share.

4. Survival

How do companies lose billions and survive?

Last week’s stunner by automaker Ford that it lost $12.7 billion last year has a number of readers, including Joe in Mississippi, wondering: how can it keep losing all that money and stay in business? Carol in Oregon is trying to figure out when interest rates on CDs will head higher again.

Ford Motors lost $12.7 billion in 2006. They expect to lose $-billions more in 2007. 

Ford currently aims for survival. Ford was once one of the biggest car seller. However, due to the rise of of other brands, Ford is now dying and struggling to survive. It is losing of a lot of money thus no time to consider for other objectives, there ultimate and most important objective for now is very likely to be survival.

5. Profit Maximisation

Amazon is expected to report its fourth straight quarter of over $1 billion in profits
  • Amazon is expected to report third-quarter profit of $3.09 per share, or roughly $1.5 billion.
  • That would make it the fourth straight quarter that Amazon has topped $1 billion in profit.
  • Amazon’s profit expansion is primarily driven by the growth of its high-margin businesses, like its cloud, advertising and third-party seller services.

Profit maximisation is an obvious business objective, as profits allow a business to continue its business as the costs of the business can be covered and production or provision of goods can continue. This is part of the business objective of survival; a larger income of money will mean that the business has money to sustain itself and survive in the industry. Profit maximisation will increase a firm’s stock value, as investors will be more willing to invest in a firm that is making profits. Therefore, it can be said that increased profits will lead to increased investment in the business. Profit maximisation would be the ideal goal for small firms looking to survive in the market and grow economically.

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