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Business Organization Objective - Coggle Diagram
Business Organization Objective
Hierarchical Objectives
AIM :
OBJECTIVE
STRATEGY
TATICS
More day by day actions
Short term
Actions to achieve objectives
Medium term
TYPES:
Corporate
Generic
Operational
Goals of a business to achieve their aims
Medium term
Objectives must be S.M.A.R.T.
S: SPECIFIC
M: MESURABLE
A: AGREED
R: REALISTIC
1 more item...
Long term goals of the company
Long term
It gives a purpose and direction for the company
It is expressed by a
Mission Statement
Business Statements
Mission
Business' values
Updated more frequently
What causes changes in objectives:
INTERNAL
Corporate culture
Finace
Age of business
Risk
Crises Manegement
Type of organization
Size of organization
EXTERNAL
State of Economy
Presence and power of pressure group
New Technologies
Time basement
Ethical issues
Government concerns
Easier to achieve
Medium to long term
What is the business
Aims of a company
Vision
Are not updated frequently
Very long term
What the business wants to become
Harder to achieve
It defines what the company visions' to become. Ideal future for the Company
ANSOFF
Market penetration
Entenring in an
Existing Market
Selling an
Existing Product
Market development
New Market
Existing Products
Product development
Selling a
New Product
Existing Market
Market analysis method
Diversification
Selling a
New Product
New Market
SWOT
Strengths
Strengths
What the company is better than their rivals
Weakness
What the rivals are better at
Opportunities
Something that can generate a benefit for the Company
Threats
Something that can generate a problem for the company
Decision Making Tool
ETHICS
MORALITY
How does society view the actions
They guide decision making and strategies
CSR
(CORPORATE SOCIAL RESPONSIBILITY)
Code of Conduct
Values
Strategy
Can create a strategy evolving CSR that can lead to the company’s benefit
Altruistic
A CSR can contain values that improve society, for example: charity and social support
Self-interest
When the CSR involves ethical values that support the company's interest, therefore making profit
Responsibility
Principles
Ethical behavior might be caused by external factors