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C5: BUSINESS & STAKEHOLDER OBJECTIVES - Coggle Diagram
C5: BUSINESS & STAKEHOLDER OBJECTIVES
BUSINESS OBJECTIVES
PROFIT
AIM TO PRODUCE & SELL LEVEL OF OUTPUT
ā GREATEST DIFFERENCE BETWEEN REVENUE & TOTAL COST
GROWTH
INCREASED OUTPUT
BENEFIT FROM E.O.S
SURVIVAL
MARKET SHARE
STRONG BRAND IMAGE ā EASIER TO SELL
OBJECTIVES OF SOCIAL ENTERPRISE
NEEDS OF COMMUNITY + ENVIRONMENT
PROFITS REINVESTED IN BUSINESS
MAINLY SOCIAL OBJECTIVES
IMPORTANCE OF BUSINESS OBJECTIVES
HELP IN MOTIVATION
UNITE WHOLE BUSINESS TOWARDS SAME GOAL
GIVES WORKS & MANAGERS CLEAR TARGET ON WORK TOWARDS
OBJECTIVE OF STAKEHOLDERS
INTERNAL STAKEHOLDER
MANAGERS
HAVE JOB SATISFACTION & STATUS
RECIEVE SALARY INCREASE & BONUSES
EMPLOYEES
RECIEVE A FAIR WAGE THAT REFLECTS THEIR CONTRIBUTION TO BUSINESS' SUCCESS
HAVE JOB SECURITY
OWNERS & SHAREHOLDERS
RECIEVE HIGH RETURNS / DIVIDENDS AS REWARD FOR RISKING THEIR INVESTMENT IN THE BUSINESS
BENEFIT FROM AN INCREASE IN SHARE VALUE
EXTERNAL STAKEHOLDER
CUSTOMERS
CHARGED A FAIR PRICE WHICH GIVES VALUE FOR MONEY
RECEIVE QUALITY GOODS & AFTER-SALES SERVICE
GOVERNMENT
MINIMAL SPENDING ON UNEMPLOYMENT BENEFITS
PAID THE CORRECT AMOUNT OF TAXES ON TIME
SUPPLIERS
TREATED FAIRLY & NOT FORCED TO REDUCE THEIR PRICES BY BUSINESS WITH STRONG BUYING POWER
RECEIVE PROMPT PAYMENT FOR GOODS SUPPLIED ON CREDIT
LOCAL COMMUNITY
RECEIVE BENEFITS FOR THE LOCAL ECONOMY SUCH AS EMPLOYMENT & SUBSIDING OF COMMUNITY FACILITIES
AVOID NEGATIVE IMPACT OF BUSINESS ACTIVITIES (eg.noise, air & traffic pollution)
LENDERS
HAVE BORROWING REPAID BY DUE DATE
RECEIVE INTERESTS PAYMENTS WHEN DUE