The different types of business objectives starter: What types of business objectives are there? Think of public sector organisations, charities (nfp), plc’s, new start-ups

Aims & Objectives We will cover: Why do organisations have aims and objectives? The different types of business objectives How they may change Importance of planning, and change

MISSION AIM OBJECTIVES STRATEGY TACTICS

Strategy - the broad way the objective is to be achieved Tactics - the specific way the strategy will be tackled

Why do organisations have aims and objectives? If you don’t know where you are going, how do you know when you’ve got there? So all staff know what they are trying to achieve So that we can compare ‘actuals’ with ‘targets’ To motivate employees To give a sense of direction and focus

The different types of business objectives PROFIT To stay in business, the organisation needs to be profitable … if not every year, then most years Shareholders like dividends!

The different types of business objectives MARKET SHARE To sell more than your competitors, by taking their customers Oct 2014

The different types of business objectives SURVIVAL Especially for new businesses … just staying solvent for the first few years

The different types of business objectives survival profit market share BUSINESS OBJECTIVES

The different types of business objectives GROWTH To make the organisation bigger each year

The different types of business objectives SOCIAL BENEFIT Usually nfp (not for profit) organisations, charities

The different types of business objectives SERVICE PROVISION Public sector, Govt.-owned organisations like NHS, police, schools etc

The different types of business objectives profit market share survival service provision social benefit growth