Organizational Objectives

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Mindmap am Organizational Objectives, erstellt von Lady Abigail Leon Cruzado am 14/06/2020.
Lady Abigail Leon Cruzado
Mindmap von Lady Abigail Leon Cruzado, aktualisiert more than 1 year ago
Lady Abigail Leon Cruzado
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Zusammenfassung der Ressource

Organizational Objectives
  1. Vision
    1. Specifies the long term aspirations of a business; where it ultimately wants to be. It often describes how the organisation wants to be perceived. They aim to influence the consumers’ perception of the business.
      1. Aims
        1. Define the firm’s purpose and long-term goals, often expressed in the mission statement and form the vision.
    2. Mission
      1. Specifies the aims and objectives of the business in the present. It describes the core activities of a business and it may include statements about moral or ethical issues, objectives about sales, profits or market share, or attitudes and values towards stakeholders like customers and workers.
        1. Objectives
          1. Types
            1. Strategic
              1. Medium to long-term objectives set by senior managers to guide the company in the right direction to achieve the aims.
                1. Survival
                  1. Profit maximization
                    1. Market share
                      1. Market growth
                        1. Corporate image
                          1. Quality improvement
                        2. Tactical
                          1. Medium to short-term objectives set by middle managers to achieve the strategic objectives.
                          2. Operational
                            1. Day-to-day objectives set by floor managers so that the company can reach its tactical objectives.
                              1. Team
                                1. Individual
                            2. Levels
                              1. S
                                1. Specific: should state clearly what you are trying to achieve.
                                2. M
                                  1. Measurable: quantify an indicator of progress to judge if / when the objective has been achieved.
                                  2. A
                                    1. Achievable: must be achievable within the available resources and specify who will do it.
                                    2. R
                                      1. Relevant: must be useful to the overall process of achievement of your goal.
                                      2. T
                                        1. Time-specific: must conatin a time limit or time period the objective is to be achieved.
                                      3. Changes
                                        1. Internal
                                          1. Negative
                                            1. Can provoke HR problems such as high staff turnover, lack of skills, reducing productivity, and low motivation; financial issues such as poor cash flow.
                                            2. Positive
                                              1. Should also lead to a review of business objectives. Talented employees need to be developed, unexpected revenues invested, new product ideas investigated.
                                            3. External
                                              1. Radical changes are in response to a major change in the external environment, especially if the change undermines the competitive advantage or unique selling proposition (USP).
                                                1. It can be because of a new competition, changing technology, or unexpected economic recession, such as the “credit crunch” that started in 2008.
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