Business Strategy And Objectives Of Business

1957 Words Jul 2nd, 2015 8 Pages
1.0 Business strategy and objectives
1.1 EnerMech’s corporate objectives
Corporate objectives are those that communicate to the business as a whole. They are usually set by the management of the business and they deliver the focus for setting more detailed objectives for the main practical actions. They tend to emphasis on the wanted performance and results of the business. It is vital that corporate objectives cover a range of key areas where the business wants to achieve results.
The overall objective for EnerMech is to grow and becoming a one billion revenue per annum company by the end of the decade. EnerMech is currently a £270 million business; the company will need to accomplish a growth of 25% per year through growing organically and securing the right acquisitions.
EnerMech is to reduce its staff turnover from 12% down to 9%. High employee turnover can damage EnerMech’s bottom line. It is estimated it will costs upwards of one-fifth of an employee’s salary to find and train a replacement. What is essential for retaining employees is to improve recruitment process, communicating with employees and encourage them to voice and discuss the issues that matter to them, offering competitive benefits packages, staff training and development and to react when needed.
Standardising processes and procedures is also a key objective to EnerMech as a global company; EnerMech operates out of 20 countries with 31…
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