1. ORGANIZATIONAL OBJECTIVES “TO ACCOMPLISH GREAT THINGS,WE MUST NOT ONLY ACT,BUT ALSO DREAM,NOT ONLY PLAN,BUT ALSO BELIEVE.” ANATOLE FRANCE(1844-1924)NOBEL PRIZE FOR LITERATURE KEY TOPICS The importance of organizational objectives Mission and vision statements Organizational aims,strategic and tactical objectives Ethical objectives Corporate social responsibility(CSR) Social and environmental audits

2. WITHOUT HAVING CLEAR AIMS AND OBJECTIVES,ORGANIZATIONS HAVE NO SENCE OF DIRECTION OR PURPOSE. CORPORATE OBJECTIVES DEAL WITH THE WHOLE ORGANIZATION’S GOALS. DEPARTMENAL OBJECTIVES ARE SPECIFIC OBJECTIVES FOR THE VARIOUS SECTIONS OF A BUSINESS. INDIVIDUAL OBJECTIVES ARE TARGETS THAT ARE SET FOR AND/OR BY INDIVIDUAL EMPLOYEES. MISSION STATEMENTS AND VISION STATEMENTS A VISION STATEMENT OUTLINES A BUSINESS’S ASPIRATIONS(WHERE IT WANTS TO BE)IN THE DISTANT FUTURE.(“TO BE THE LEADING SPORTS BRAND IN THE WORLD” – VISION OF ADIDAS). A MISSION STATEMENT TENDS TO BE A SIMPLE DECLARATION THAT BROADLY STATES THE UNDERLYING PURPOSE OF AN ORGANIZATION’S EXISTENCE.IT TENDS TO BE QUALITATIVE. A M.S.OUTLINES HOW A V.S.WILL BE ACHIEVED. (“THE COMPANY EXISTS TO BENEFIT AND REFRESH EVERYONE IT TOUCHES” – COCA-COLA)

3. The purpose of the mission statement is to: provide a focus for all employees,from senior management down to the shop-floor workers,of the business’goals and raison d’etre communicate this purpose to the outside world ( stakeholders ) THE M.S.TENDS TO OUTLINE THE VALUES OF THE BUSINESS,I.E.ITS BELIEFS,CORPORATE CULTURE AND GUIDING PRINCIPLES.

4. AIMS AND OBJECTIVES AIMS ARE GENERAL LONG-TERM GOALS OF AN ORGANISATION,THEY ARE BROADLY EXPRESSED AND UNQUANTIFIABLE.(TO BECOME NUMBER ONE SUPPLIER OF A PRODUCT) AIMS SERVE TO GIVE A PURPOSE TO THE GENERAL DIRECTION OF AN ORGANIZATION AND ARE OFTEN EXPRESSED IN A MISSION STATEMENT.USUALLY SET BY SENIOR DIRECTORS. OBJECTIVES ARE THE SHORT TERM AND MORE SPECIFIC GOALS OF AN ORGANIZATIONS,BASED ON ITS AIMS.THEY ARE MEASURABLE. (INCREASED MARKET SHARE 20%)

5. SHORT-TERM VERSUS LONG-TERM OBJECTIVES STRATEGY IS THE TERM USED TO REFER TO ANY PLAN OR SCHEME TO ACHIEVE THE LONG-TERM AIMS OF A BUSINESS.STRATEGY IS USED FOR TRYING TO ACHIEVE STRATEGIC OBJECTIVES.(EXPANDING INTO OVERSEAS MARKETS) TACTICS ARE SHORT-TERM WAYS THAT FIRMS CAN USE TO ACHIEVE ITS AIMS AND OBJECTIVES,I.E.THEY ARE USED TO ACHIEVE AN ORGANIZATION’S TACTICAL OBJECTIVES. TACTICAL(OPERATIONAL)OBJECTIVES TACTICAL OBJECTIVES ARE SHORT-TERM OBJECTIVES THAT AFFECT A SEGMENT OF THE ORGANIZATION,SUCH AS DEPARTMENT. (SALES REVENUE MAXIMISATION-SALES PEOPLE AND AGENTS WILL FAVOUR THIS OBJECTIVE SINCE THEIR EARNINGS ARE LINKED TO THE LEVEL OF SALES)

6. STRATEGIC OBJECTIVES REFER TO THE LONGER TERM AIMS OF A BUSINESS ORGANIZATION,E.G.TARGETS FOR THE NEXT FEW YEARS. PROFIT MAXIMISATION GROWTH -economies of scale:larger firms are able to enjoy lower average costs of production -market power -reduced risks(diversification-new products and new markets) IMAGE AND REPUTATION MARKET STANDING – REFERS TO THE EXTENT TO WHICH A FIRM HAS PRESENCE IN THE MARKETPLACE.TO HAVE HIGH MARKET STANDING,PEOPLE NEED TO FEEL THAT THE BUSINESS OFFERS SOMETHING EXTRA SPECIAL.

7. ETHICAL OBJECTIVES ETHICS ARE MORAL PRINCIPLES THAT GUIDE DECISION-MAKING AND STRATEGY. MORALS ARE CONCERNED WITH WHAT IS CONSIDERED TO BE RIGHT OR WRONG,FROM SOCIETY’S POINT OF VIEW. BUSINESS ETHICS ARE THE ACTIONS OF PEOPLE AND ORGANIZATIONS THAT ARE CONSIDERED TO BE MORALLY CORRECT. EXAMPLES OF ETHICAL OBJECTIVES REDUCING POLLUTION BY USING MORE ENVIRONMENTALLY FRIENDLY PRODUCTION PROCESSES INCREASED RECYCLING OF WASTE MATERIALS OFFERING STAFF SUFFICIENT REST BREAKS DURING THEIR WORK SHIFT IN ORDER TO ACHIEVE ETHICAL OBJECTIVES,AN INCREASING NUMBER OF BUSINESSES HAVE ADOPTED AN ETHICAL CODE OF PRACTISE AND PUBLISH THIS AS PART OF THEIR MISSION STATEMENT OR IN THEIR ANNUAL REPORT.

8. EXAMPLES OF UNETHICAL BUSINESS BEHAVIOUR: FINANCIAL DISHONESTY(misrepresentation of its financial accounts) ENVIRONMENTAL NEGLECT(pollution,depletion of non-renewable resources) EXPLOITATION OF THE WORKFORCE EXPLOITATION OF SUPPLIERS EXPLOITATION OF CONSUMERS THERE ARE MANY WAYS IN WHICH A BUSINESS MAY TRY TO MEET ITS SOCIAL RESPONSIBILITIES: PROVIDING ACCURATE INFORMATION AND LABELLING(this can help consumers to make better informed decisions) ACTIVE COMMUNITY WORK(voluntary and charity work) HAVING CONSIDERATION FOR THE ENVIRONMENT ADHERING TO FAIR EMPLOYMENT PRACTISES(decent working conditions,training opportunities)

9. ADVANTAGES OF ETHICAL BEHAVIOUR: IMPROVED CORPORATE IMAGE INCREASED CUSTOMER LOYALTY IMPROVED STAFF MOTIVATION IMPROVED STAFF MORALE(more likely to be able to recruit and retain high quality staff) COST CUTTING(b.may benefit from lower litigation costs-costs associated with legal action taken against a business…) LIMITATIONS OF ETHICAL BEHAVIOUR: COMPLIANCE COSTS(potentially high costs of acting ethically) LOWER PROFITS-if costs cannot be passed onto the consumer in the form of higher prices STAKEHOLDER CONFLICT(speculative shareholders and financial investors are more likely to be concerned with the short-term profits of a firm rather than its long-term ethical stance)

10. CORPORATE SOCIAL RESPONSIBILITY SOCIALLY RESPONSIBLE FIRMS-THOSE THAT ACT MORALLY TOWARDS THEIR STAKEHOLDERS BUSINESSES HAVE REALIZED THAT REPUTATION(HOW OTHERS VIEW THE ORGANIZATION)CAN GIVE THEM AN IMPORTANT COMPETITIVE EDGE DIFFERENT VIEWS AND ATTITUDES TOWARDS THE ROLE OF BUSINESS IN DELIVERING SOCIAL RESPONSIBILITY: FREE MARKET CSR ATTITUDE.Many economists believe that the role of b.is to generate profit for their owners.The governments are responsible for sorting out any social problems ALTRUISTIC CSR ATTITUDE.Altruism refers to acting in a humanitarian and unselfish manner.These businesses do what they can to improve the society,regardless of whether their actions help to increase their profits STRATEGIC CSR ATTITUDE.Businesses ought to be socially responsible only if such actions help the business to become more profitable.Such firms see CSR as a method of long-term growth

11. THE EXTENT TO WHICH A FIRM WILL ACT IN A SOCIALLY RESPONSIBLE MANNER DEPENDS ON : -THE LEVEL AND POWER OF VARIOUS STAKEHOLDER GROUPS -CORPORATE CULTURE AND ATTITUDES TOWARDS CSR -CONSUMER AWARENESS OF,AND CONCERNS FOR,CSR ISSUES -EXPOSURE AND PRESSURE FROM THE MEDIA -SHORT-TERM VERSUS LONG-TERM PERSPECTIVES -THE FINANCIAL AND HUMAN RESOURCES OF THE BUSINESS

12. SOCIAL AUDITING IS A WAY TO ENSURE THAT SOCIALLY RESPONSIBLE OBJECTIVES ARE BEING IMPLEMENTED A SOCIAL AUDIT IS AN INDEPENDENT ASSESSMENT OF HOW A FIRM’S ACTIONS AFFECT SOCIETY.THE AUDIT IS LIKELY TO INCLUDE A REVIEW OF A FIRM’S ENVIRONMENTAL IMPACT(POLLUTION AND WASTE LEVELS),STAFF MANAGEMENT(WORKFORCE HEALTH AND SAFETY) AND CONTRIBUTION TO SOCIETY(INVOLVEMENT IN LOCAL COMMUNITY PROJECTS) AN INDEPENDENT REVIEW OF A FIRM’S ACTIVITIES THAT EXAMINES ONLY THE IMPACTS ON THE ENVIRONMENT IS KNOWN AS AN ENVIRONMENTAL AUDIT