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ORGANIZATION AND OBJECTIVES (chapter 3) - Coggle Diagram
ORGANIZATION AND OBJECTIVES (chapter 3)
ETHICS
A business need to act ethically
It is the moral principle of a company, this guide the decision making of the business
BUSINESS ETHICS
Responsability
Principle
Behavior
Trust
Morality
Reliability
Choice
Relationship
CSR (Corporate Social Responsibility)
Act morally, looking at their employees, the community and the stakeholders
The self-interest (noncompliance)
Altruistic atitude
Strategic atitude
Do not have right or wrong
Society envolves and change the moral of the business
Active community work
Fair employment practices
VISION STATEMENT AND MISSION
VISION (VS)
It is the future of the company
DIFFERENCE
VS is a more what they want to be on the future, where they want to be // MS what the business are
VS is in a long term // MS is a medium-term to long-term
VS they do not update constantly // MS they are constantly updated
Need to have a positive impact for the employees and the clients (custumer and consumer)
MISSION
It is the purpose of the company, most of the time is a simple declaration and clear
To the clients (custumer and consumer) have a positive feeling experience from the company
AIMS, OBJECTIVES, STRATEGIES AND TACTICS
AIMS
This is related to the vision statement
Long-term and general goals of a company
Give a porpuse and direction for the company
OBJECTIVES
S.M.A.R.T
Specific, Measurable, Agreed, Realistic, Time specific
S: need to state very specific what the business are trying to achieve
M: need to measure if they achieved
A: need to have a aprovement of all people of the company
R: need to be a realistic achievement, considering everything, if are able to achieve
TS: need to state a deadline to the company achieve
Represent their results of the business want to achieve the objectives
CHANGE THE OBJECTIVES
finance
Business agr
Risk profile
Corporate culture
Organization size
Public organization and private
Crises management
Risk profile
Others
EXTERNAL FACTORS
Economy
Government
Technologies
Group powers
STRATEGIC OBJECTIVES
Long-term goals of a business
STRATEGIES
General plans to achive their objective
OPERATIONAL STRATEGIES
is use to improve the efficiency of the business
Day-by-day method
CORPORATE STRATEGIES
For the future, long-term goal of the business
GENERIC STRATEGIES
This affect the whole business
TACTICS
To achieve a specific objective
Short-term methods
TACTICS
STRATEGIES
OBJECTICVES
AIMS/GOAL
Give a porpuse and direction for the company
Represent their results of the business want to achieve the objectives
General plans to achive their objective
To achieve a specific objective
SWOT ANALYSIS
STRENGHTS= internal forces, a good corporate image
WEAKNESSES= internal factors, create competition disadvantages
OPPORTUNITIES= external possibilities for future development, external enviroment
THREATS= external factors prospect for the organization, cause problems for the business
Useful decision-making tool
ANSOFF MATRIX
Helps the managers to choose various products, it is a market growth strategy
Market penetration
Low-risk growth, it is to sell existing market in existing product
Market development
Medium-risk growth, sell existing products in new markets
Product development
Medium-risk growth, sell new products in existing markets
Product Extension: use strategies to products that are saturated, for have a prolong on the demand
Product Development: it is the development of the brand to attract the existing market
Diversification
High-risk growth, sell new products in new markets
Related Diversification: it is when a company brings new custumers in the same industry
Unrelated Diversification: it is the growth of selling, the new products in other types of markets
