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