Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
obj and stakeholders
| Question | Answer |
|---|---|
| what is organizational objectives? | specific goals that guide a business in achieving its mission and vision |
| why objectives matter | provide direction and purpose help in decision making enable performance measurement |
| benefits of setting objectives | give workers and managers a clear target, motivate people questioning decisions whether it helps the objectives or not unite the whole business towards the same goal |
| what is mission statements? | outline the overall purpose of the organisation |
| vision statement? | picture the preferred future and outline how the future will look |
| how mission statement is made? | sum up the aims of the business in a motivating and appealing way ' who we are and what we do" |
| key features of a strong mission statement | clear and concise focused on actions customer-centric addresses |
| what is the impact of well-defined mission | motivates employees ensures the company stays alligned with its purpose |
| purpose of mission statement vs vision statement? | mission statement: current business activities vision statement: future aspirations |
| timeframe mission vs vision? | m: short to medium term v; long term |
| focus mission vs vision | m: what the company does v; what the company wants to become |
| benefits of corporate aims | strategic direction better decisions employe motivation brand reputation sustainable growth |
| what is ethical objectives? | specific goals that businesses set to ensure their oprations are conducted in a fair, honest and responsible manner |
| how do making ethical objectives help the business? | builds trust and rputation increase customer loyalty ensures sustainibility legal and compliance benefits |
| how business develops ethical objectives? | identify issues -> clear goals -> integrate into strategy -> monitor progress -> engage stakeholders |
| some ethiucal area; | wages and employes rights sustainable sourcing child labor environmenyally friendly practices marketing honest diversity and inclusions |
| what is CSR objectives? | specific goals thatbbusinesses set to ensure they give back the benefits to the society, environment and stakeholders. |
| different between ethical and CSR | ethical: focus on doing business the right way CSR; focus on how businesses contribute to society and the planet |
| why do we use SMART objectiives? | clear direction better performance tracking improved decision making higher motivation stronger accountability ===== clear and measurable and achieveable goals well defined and trackable |
| SMART meaning | S- specific M - measurable A - achieveable R - relevant T - time - bound |
| strategy vs tactic: | s: long term plan of action for the whole organisation to achieve a particular goal tactic : short term policy or decision aimed at resolving a particular problem |
| SATO | strategy - broad plan to achieve objectives aims - big picture, long term goal tactics - short term actions to execute the energy objectives - specific, measurable targets |
| why are business objectives are not fixed? | due to internal and external factors |
| xample on how business respond to objective change? | adjust pricing strategies, reduce costs and increase efficiency, change marketing focus ---------------------- shift from local to global sustainibility new industries |
| example of internal factirs that caused th business to change uits objective | business growth, ladership changes, financial performance, |
| external factors | economic conditions, competition, customer preferences |
| what is stakeholders | any individual or group that is affected by or has an interest in a business's oprations and dcision |
| diff between shareholders and stakeholders | all shareholders are stakeholders, but not all stakeholders are shareholders sharholders own the company, stakeholders are imoacted by the company |
| what do the shareholders interested in? | want profits, business growth, and high dividends |
| why do stakeholders' conflict happened? | resource allocation, businss ethics, change in business strategy, legal compliance, compting priorities |
| how do we ecaluate the stakeholder conflict? | - level of influence - urgency of the conflict - impact on businss - reputation - legal and ethical - cost |
Created by:
user-1944436
Popular Management sets