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Organisational Objectives (The SWOT analysis (Strengths (Things the…
Organisational Objectives
Vision Statement
Points to the future - what the business would like to see itself as and focuses on long term aims.
Mission Statement
Focuses on 'what is our business' and the short / medium term objectives
It is a declaration of why the business exists, who its serves and its core values. It's used as a way of communicating the purpose to stakeholders
These have to be:
Motivational
Inspires commitment among employees, consumers, partners and funding agencies about what will be done / produced
Short and Concise
No loner than 25 words. Easily remembered and repeated
Understandable
So everyone can understand what the business is about
Aims
A statement of purpose stating long term goals
We want to grow the business around Europe
Objectives
Give the business clearly defined targets to achieve
The most effective are the
SMART
:
Specific
- objectives are aimed at what the business does
Measurable
- the business can put a value to the object
Achievable
- Is the objective achievable? - these can be demotivating
Realistic
- In the time frame set with the resources given?
Time specific
- Should have a time frame for when they should be completed by
Some objectives may change over time due to:
Achieved objective therefore, new ones are needed
The competitive environment may change
Technology improvement may change production capabilities
Strategies
Strategies are the plans set in place to achieve these objectives
The SWOT analysis
Strengths
Things the company does well
Qualities differentiating you from your competitor
Internal resources -- skills, knowledgable staff...
Tangible assets -- high technology...
Location of business
Any aspect of your business that adds value
Weaknesses
Lack of marketing expertise
Location of business
Reputation
Press
Poor quality G's and S's
Resource limitations
Opportunities
Developing markets -- the internet
Strategic alliances
New international market
Few competitors
Emerging need for your G's or S's
Threats
Emerging competitors
Price wars with competitors
Changing policies
Changing customer attitudes / preferences
Both are Internal factors
Both are External factors