aims and objectives. the aims of aims & objectives explain the importance of objectives in...
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Aims and Objectives
The aims of Aims & Objectives
• Explain the importance of Objectives in managing organisations
• Evaluate the need for a firm to change objectives in response to changes in external environment. (HL only)
• More to follow
What are they?
What do they do?
A hierarchy of objectives
How does it work?
Mission…Aim…Objective
(Quantitative)
The Mission statement is
You what? What does it do?
How do they work?
Culture
• In exam Q’s it is important to emphasise that a Mission Statement sets the tone and the ethos of a organisation.
• Should be a guideline for other decisions. Not just ‘What you do’
What’s a good one like?
They should also be…
However they are often said to be
Nike’s is
• To bring innovation and inspiration to every athlete* in the world
• If you have a body, then you’re an athlete
• What????
Pepsi’s is…
• Beat Coke!
• I have never been able to verify if this true, but I think it’s great so I’ve kept it in anyway.
Microsoft go for…
• To enable people and businesses throughout the world to reach their potential
Exam tip
• When answering the question “What is a mission Statement?’
• You need to go beyond “it sets the overall aim of the business’
Vision
• To go along with their mission Statement firms often have a vision…
What is a vision Statement
• Vision is a long term view, sometimes describing a view of how the organisation would like the world in which it operates to be.
• For example a charity working with the poor might have a vision statement which read "A world without poverty"
Hoang pg 44 Q
What is corporate Strategy?
For example?
What might determine our objectives?
Strategic Vs Tactical Objectives
Hoang pg47 q
Bad answer exercise
Changes in objectives due to external environment
• Harris Tweed
Petrol companies
• Suddenly all want to be more environmentally than Greenpeace.
• Why, I wonder?
• http://www.tutor2u.net/business/presentations/strategy/mission-aims-objectives/player.html