5 Aims of business

1.Corporate social responsibility

 

traveldailynews.com/…/bcd-travel-maintains-top-corporate-social-responsibility-rating-for-third-year-in-a-row

BCD Travel maintains top corporate social responsibility rating for third year in a row

BCD Travel President and CEO – It’s an important achievement that reflects our vision and mission as a company.

BCD Travel succeeded at earning the 2018 gold rating in the EcoVadis rating, which examines 21 criteria across four themes of environment, fair labor practices, ethics/fair business practices, and supply chain.  BCD is the only travel management company to achieve earning gold ratings for three consecutive years.

High corporate social responsibility ratings helps BCD to enhance its brand image as being environmentally friendly and also demonstrates its transparency as a supplier, securing customer’s privacy and minimize any risks. As a result, more costumers or businesses may decide to choose BCD instead of other travel companies. 

 

2.Survival

How did Fujifilm survive?

https://www.economist.com/schumpeter/2012/01/18/sharper-focus

Fujifilm was founded in 1934 and since then, it has been specializing in the making of films. However, from 2000 to 2010, film went from 60% of Fujifilm’s profits to basically nothing, due to the appearance of phones with camera functions. Fujifilm’s profit decreased dramatically and they had to find a way to improve the situation by transitioning away from film.

Fujifilm realized that they had to diverse their business to new areas. They started to apply their technology in different fields. For example, they applied the kiosk technology to digital imaging division, and was able to make a deal to place its kiosks in Walmart stores. Today, nearly 40% of photo finishing market is owned by Fujifilm, earning them lot’s of money. In addition to this, Fujifilm also started medical imaging equipment business. They bought many firms in this industry, including Sonosite, an American ultrasound equipment company.

Shifting from what they have been specializing for decades costed them a lot. In the short-term, it was “deadly” for Fujifilm. However, it all paid off because they had long-term visions. They were able to survive the changing industry.

 

3.Market Share

BAT’s attempts to increase market share up to 10%

https://www.dailynewsegypt.com/2018/08/02/british-american-tobacco-plans-to-increase-market-share-to-10/

British American Tobacco Egypt (BAT) aims to increase its market share in Egypt from 8% to 10%. The general manager of the company Stephen Harvey says that the company set this new aim after its last success in raising market share from 5% to 8%.

The main reason why BAT wants to increase market share in Egypt is because the Tobacco industry in Egypt has a very promising future, due to the economic reforms and studies conducted on the feasibility of tobacco cultivation. Expanding market in Egypt will be a low risk, safe investment for BAT. Also, BAT had strong presence in the Egyptian Tobacco market for many years. After witnessing the development of Egypt in terms of economy and investments, they decided that it’s the best time to enlarge the scale of production.

They are planning to increase market share by boosting cooperation with the Eastern company. By offering different types of tobacco depending on the price segments, they raise their competitiveness in open cigarette pricing Egyptian market. They will also invest£30m over the next 12 months in Egypt and open a head office in New Cairo, the capital of Egypt.

 

4.Maximize Revenue

UNICEF tries to save more

https://www.forbes.com/sites/unicefusa/2018/11/21/how-to-maximize-your-charitable-giving-under-the-new-tax-law/#2f6a32b8cde2

Nonprofit charities like UNICEF, which focus on the protection of human rights and safety, want to maximize revenue as they can use those revenue to help the people in needs(eg.refugees) and with more money, they can save more people. They may maximize their revenue by promoting and encouraging more people to donate, or held public activities. Their main aim is to increase the amount of money that they get by letting more people to know about the issue.

 

5.Maximize Profit

Aecom Maximizing profit

https://canada.constructconnect.com/dcn/news/economic/2018/11/aecom-exit-30-countries-maximize-profitability

Aecom, a Los Angeles based engineering firm decided to end production in 30 countries where profitability is low. They chose to prioritize investments in markets with highest profitability and announced a cost reduction of $225 million. By investing more in markets with higher profitability (High ratio of profit to cost/high ability to make profit), Aecom can cut cost and thus raise revenue.

“Our fourth quarter and full year 2018 results include new records for revenue, backlog, wins and free cash flow, demonstrating the strength of our industry-leading franchises and setting a strong foundation for continued growth,” said Michael Burke, Aecom’s chairman and CEO, in the statement.

 

 

 

 

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