Buisness objectives
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Business objectives provide clear direction and goals for an organization. They indicate where the business wants to move in the future. Objectives are broad statements of values that a company aims to achieve over time. Objectives must be specific, measurable, challenging and relate to a specific timeframe. They are important for justifying a business's existence, facilitating planning, defining relationships, motivating achievement, and ensuring uniform operations and appropriate decision making. Objectives are categorized as organic, economic, social, human, and national and consider environmental factors, enterprise resources, individual roles, values, and past objectives.
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Strategy implementation involves organizing resources, building culture, and leading change to execute strategy. It requires coordination across functions and motivating managers and employees. Key aspects of implementation include allocating resources, setting policies and procedures, tying rewards to goals, and developing a strategy-supportive culture. Challenges can arise from transitioning responsibility to divisional managers with differing interests from the organization.
Business Strategy BBA (Bachelors of business administration)- mid.pptx
This ppt contains information about business strategy
PPT upto mid semester.pptx
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CORPORATE STRATEGY PORTERS FIVE MODEL
This document discusses strategic leadership and the strategy making process. It explains that strategic leadership involves managing strategy formulation, implementation, and competitive advantage. The strategy making process has 5 steps: setting vision/mission/goals, external analysis, internal analysis, strategy selection, and implementation. External analysis identifies opportunities and threats in the company's industry and environment. Internal analysis identifies strengths and weaknesses. Strategy selection aligns strategies to leverage strengths and address weaknesses given external factors. Implementation puts strategies into action. The goal is a viable business model and sustainable competitive advantage through superior performance.
Planning And Mission.pptx
Planning provides guidance but can also lead to complacency if not updated based on monitoring progress and changes in the environment. Even the best plans may need to be adapted based on what is learned along the way. Regular review and assessment helps prevent overreliance on the initial plan and allows for flexibility.
BPR ERP Value Stream Management
This document discusses several concepts useful for management, including vision, characteristics of vision, the process of materializing vision, mission, core competence, total quality management (TQM), business process reengineering (BPR), enterprise resource planning (ERP), empowerment, and the role of cyber cops. Some key points discussed include:
- A vision provides long-term direction for an organization while a mission outlines how the vision will be achieved.
- Core competence refers to an organization's unique skills and capabilities. TQM aims to achieve long-term success through customer satisfaction using strategies like continual improvement and fact-based decision making.
- BPR involves fundamentally rethinking and redesigning business processes to improve performance. E
Corporate culture and innovation
This document discusses corporate culture, innovation, and people analytics. It provides facts about corporate culture and discusses different types of cultures. It also examines trends in corporate culture, focusing on employee experience, blended workforces, and workplace wellness. The document outlines how to implement successful culture change and why culture is important for innovation. It discusses people analytics and how it can help managers make better decisions about employees through analyzing large datasets.
Strategy_Development.pptx
What is Strategy Development?
What kind of Strategies?
How to formulate a Strategy?
What are aspects of Strategy formulation?
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The document discusses key concepts in strategic management including strategic competitiveness, strategy, competitive advantage, and the strategic management process. It explains models for achieving above-average returns, including the industrial organization model and resource-based model. It also covers developing vision and mission statements, the roles of strategic leaders, and the strategic management process which involves strategy formulation, implementation, and feedback.
Mahmood Qasim Strategic Management Chap001
This document discusses key concepts in strategic management including strategic competitiveness, strategy, competitive advantage, and the strategic management process. It describes models for achieving above-average returns, including the industrial organization model and resource-based model. It also covers developing a vision and mission, the role of strategic leaders, and the strategic management process which involves strategy formulation, implementation, and feedback. The overall purpose is to provide an overview of strategic management concepts and frameworks.
BFBM(13-2015) Waves of change bfbm-13
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This document discusses mission statements and their importance for organizations. It provides that mission statements answer the question "What is our business?" and reveal what an organization wants to be and whom it wants to serve. Effective mission statements are enduring statements of purpose that motivate employees and stakeholders. They should be broad enough to allow for growth but limited to exclude some ventures. The document also lists common components of mission statements such as customers, products/services, and concern for employees.
Planning & MBO.ppt
The document provides information about developing business plans for various small business ideas. It includes questions to consider for each business plan such as describing the business, identifying the product/service, customers, location, competition, pricing, organization, costs, profits, funding needs, and growth strategy. It also discusses the importance of planning for organizations more broadly, including the benefits of planning, different types of plans based on their breadth, specificity and frequency of use, as well as barriers to effective planning.
SODEI behaviours
This document describes the behaviours essential for
effective performance at SODEI and are key to achieving
results now, and in the future - playing a fundamental role in
helping us deliver our strategy. Together with behavioural
indicators, they underpin our people strategy and define
how we approach our work through our skills, knowledge and
experience in the most effective way possible.
Business assignment
Management involves coordinating all resources to plan, organize, direct, and control organizational activities to achieve stated objectives. The key aspects of management are planning how to accomplish goals, organizing resources, directing employees and activities, and controlling performance to ensure goals are met. Effective management requires getting employees to work together efficiently and effectively using available resources to attain desired outcomes and objectives.
Organisational context of decisions
The document discusses key concepts related to defining the purpose and strategic direction of an organization. It explains that a mission statement identifies the overall reason for an organization's existence by describing the benefits it provides customers. Objectives then translate the mission into specific, measurable goals that guide managers. A strategy is the specific approach chosen to achieve the objectives. Policies, procedures, and programs provide operational guidance to ensure consistency and efficiency in working towards the strategic goals.
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Back End of Innovation - Why Purpose Matters
Innovation is hard...Why Purpose Matters.
Aligning purpose from the top down and bottom up allows individuals and organizations to tap into their full creative potential, deep energy resources, and top talent.
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Business Strategy BBA (Bachelors of business administration)- mid.pptx
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Buisness objectives
- 3. What are objectives? • Well defined & clear direction to activities of an organisation / firm • Broad statements of values which orgn aims at achieving • Indicates destination towards which the business unit desires to move • It rational human activity • Categorized differently • Base for further planning • Focal point
- 5. Definition of business objectives • “Objectives are the ends towards which activities of any enterprise or department or project within it, are aimed.” • “Objectives are the goals, aims or purposes that organizations wish to achieve over varying period of time.”
- 7. Characteristics/ features • Combination of plural/ multiply objectives • Lengthy & continuous process • Must easy & clear to understand • Challenging & creative • Concrete & specific • Measurable & flexible • Relates to specific time frame • Involves all management functions • Subject to obstacles/ constraints • Hierarchy of objectives- categorized or priority basis • Future oriented –result oriented- growth , profit, expansion
- 8. Importance / role / need of objectives in biz management • Justify existence. • Facilitates planning • Define relationships with environment • Motives to achieve mission • Supports appropriate decision making • Standard of performance • Ensures participation & Build confidence of employee • Bring uniformity in operations • Helps allocation of jobs
- 10. Organic / basic objective • Survival • Growth • Recognition/ prestige/ Image
- 11. Economic Objectives • Earn Profit • Produce tangible wealth • Identify customer- create customer • Innovation • Bring down cost • Accelerate growth • Ensure optimum utilization of resources
- 12. Social Objectives • Offer satisfaction to consumers • Steady supply of goods • Reasonable returns on investment • Fair compensation & Good working conditions • Social responsibility-environment protection • Support employment • Ethical practices • Be good corporate citizen
- 13. Human objectives • Right compensation pattern • Good working environment • Build job satisfaction & retention policies • Career development programs • Training & development opportunities • Encourage labour participation practices
- 14. National objectives • Bring growth to nation • Ethical practices • Social welfare & justices • Promote exports-earn foreign exch • Support country in being self-sufficient • Mass employment opportunity • Bring new technology • Encourage R&D
- 15. Steps in Formulating Business objectives Consider environment factors ↓ Consider resources of the enterprise ↓ Consider individual dominance ↓ Consider value system ↓ Consider past objectives ↓ Determine final objectives