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1.3 Organisational Objectives. (Aims (Corporate) (Maximizing shareholder…
1.3 Organisational Objectives.
Vision Statement
Describes the preferred future of the organizations
Long
SWOT Analysis
Weakness (Internal)
Opportunities(external)
STEEPLE
OPPORTUNITY
Strength (Internal)
Threats(external)
STEEPLE
COMPETITOR
Strategies
Long term
Ansoff's Matrix
Product development
Market development
Market penetration
Diversification
Mission Statement
Outlines overall purpose of this organization
Core aims
To motivate employees
Stimulate interest
What you do to achieve your vision
Short term
Aims (Corporate)
Maximizing shareholder value
Maximising short term sales revenue
Survival
Increasing market share
Growth
Profit satisficing
Profit maximization
Objectives
Should be
SMART
S
pecific
M
easurable
A
chievable
R
ealistic & Relevant
T
ime Specific
Ethical objectives
Based on moral code for the business (doing the right thing)
To avoid corruption
Tactics
Short term
Factors determining corporate objectives
Size and legal form of the business
Public or private sector
Corporate culture
Well-established businesses
Corporate Social Responsibility
Business that consider the interests of society by taking responsibility for the impact of their decisions and activities on customers, employees, communities and the environment.
Hierarchy of Objectives
(Set up by corporate level) Aims
(Set up by corporate level) Mission
(Set up by corporate level) Corporate Objectives
(Functional level) Divisional objectives
(Functional level)Departmental objectives
Individual
Management by objectives (MBO)
