Guide Complete Set of Residential Architectural Drawings PDF
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Buisness objectives
1.
2.
3. What are objectives?
• Well defined & clear direction to activities of an
organisation / firm
• Broad statements of values which orgn aims at
achieving
• Indicates destination towards which the business
unit desires to move
• It rational human activity
• Categorized differently
• Base for further planning
• Focal point
4.
5. Definition of business objectives
• “Objectives are the ends towards which
activities of any enterprise or department
or project within it, are aimed.”
• “Objectives are the goals, aims or
purposes that organizations wish to
achieve over varying period of time.”
6.
7. Characteristics/ features
• Combination of plural/ multiply objectives
• Lengthy & continuous process
• Must easy & clear to understand
• Challenging & creative
• Concrete & specific
• Measurable & flexible
• Relates to specific time frame
• Involves all management functions
• Subject to obstacles/ constraints
• Hierarchy of objectives- categorized or priority
basis
• Future oriented –result oriented- growth , profit,
expansion
8. Importance / role / need of
objectives in biz management
• Justify existence.
• Facilitates planning
• Define relationships with environment
• Motives to achieve mission
• Supports appropriate decision making
• Standard of performance
• Ensures participation & Build confidence of
employee
• Bring uniformity in operations
• Helps allocation of jobs
11. Economic Objectives
• Earn Profit
• Produce tangible wealth
• Identify customer- create customer
• Innovation
• Bring down cost
• Accelerate growth
• Ensure optimum utilization of resources
12. Social Objectives
• Offer satisfaction to consumers
• Steady supply of goods
• Reasonable returns on investment
• Fair compensation & Good working conditions
• Social responsibility-environment protection
• Support employment
• Ethical practices
• Be good corporate citizen
13. Human objectives
• Right compensation pattern
• Good working environment
• Build job satisfaction & retention policies
• Career development programs
• Training & development opportunities
• Encourage labour participation practices
14. National objectives
• Bring growth to nation
• Ethical practices
• Social welfare & justices
• Promote exports-earn foreign exch
• Support country in being self-sufficient
• Mass employment opportunity
• Bring new technology
• Encourage R&D
15. Steps in Formulating Business
objectives
Consider environment factors
↓
Consider resources of the enterprise
↓
Consider individual dominance
↓
Consider value system
↓
Consider past objectives
↓
Determine final objectives