Professional Documents
Culture Documents
MANAGEMENT
MODULE 1
MODULE 1
BUSINESS
ORGANIZATIONS &
ENVIRONMENT
ORGANIZATIONAL
OBJECTIVES
If you dont know where
you are going, youll end
up someplace else.
Yogi Berra, former MLB player
Introduction
Context
On occasions when the business is faced with a
difficult decision, reference to its objectives will
help in the decision making process.
Objectives provide a sense of direction for the
business and its employees; the objectives can
be assessed by reference to targets which in
turn can be measured.
Characteristics of SMART
Business Objectives
Specific
Measurable
able to be measured to decide if they have been
achieved.
Agreed
have the approval and understanding of everyone
involved.
Realistic
Time Specific
state a time by which they should be achieved .
customer service
innovative and entrepreneurial spirit
accuracy and truth-seeking
trustworthiness and integrity
Examples include its sponsorship deals with Williams Formula One (Grand
Prix) racing team and the National basketball Association signed in 2007,
and being a key corporate sponsorship of the Beijing Olympic games.
Management By Objectives
(MBO)
AIMS
MISSION
CORPORATE OBJECTIVES
DIVISIONAL OBJECTIVES
DEPARTMENTAL OBJECTIVES
INDIVIDUAL TARGETS
Individual
goals/targets
Management By Objectives
(MBO)
AIMS
CORPORATE OBJECTIVES
DIVISIONAL OBJECTIVES
DEPARTMENTAL OBJECTIVES
INDIVIDUAL TARGETS
Tactical (Operational)
Short
Survival
especially in tough
economic times
For example, a company may have a
corporate objective of becoming a global
operator in ten years, getting
established in Europe within one year
may be a tactical objective
Strategic Objectives
Long
In
Recognition as a leader in
technology
Ethical Objectives
Ethics
Class Discussion
You are the CEO of a company which
produces a special line of mens clothing
and you are seeking a bigger market
share for your products.
Using the SMART acronym, establish your
Corporate, Strategic, Ethical and
Operational objectives.
What possible corporate objective your
business can have with regard to the
following groups of stakeholders?
Customers;
Suppliers; Employees
DECA Connection