Posts published in “BUSINESS OBJECTIVES”

Public sector business organizations have very different business objectives from those businesses in the private sector.

Corporate Social Responsibility means that the business is aware of its effect on society and considers the interests of society.

Public limited companies maximize shareholder value in two ways – by increasing the company share price and dividends paid to shareholders.

The owners favor sales revenue maximization because it encourages productivity - managers and workers to work harder at getting sales.

As a result of business grows, the company may achieve a larger share of the market. Market share is a way of measuring business size.

Profit satisficing means aiming to achieve enough profit in order to live a comfortable life and keep the owners happy.

The business grows when sales or value of output increases. The company must grow in order to survive, and the growth is usually considered a good thing.

Survival is likely to be the key objective of most new business start-ups. Survival as a business objective is a short-term goal.

In order to make setting objectives clear and effective, businesses often use ‘SMART’ criteria.

Any business organization, both small, medium and large, have established own mission statements. How useful these mission statements really are?

Vision statement and mission statement are very often confused. The main differences between them include the following aspects.

A mission statement is a statement of the business’s core aims, short description of the business’s overall goals and its broad short term and long-term objectives.

A company vision statement outlines an organization’s aspirations - where it wants to be in the distant future and what its commercial success would look like.

Business tactics are the daily actions required to achieve the business objectives. Business tactics are day-to-day activities of a business.