Business Strategy And Objectives Of Business

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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…show more content…
The benefits of having standard processes and procedures are that EnerMech can be more positive about achieving a consistent output. The process can be rolled out for new employees, therefore continuing the consistency of output. Also, the internal audit department or outside regulatory bodies are more likely to be satisfied with the standard process than one that could be completed in a variety of ways. Goals And Objectives 1 £1bn Revenue by 2020 2 Secure new investors 3 25% growth PA Organic & Acquisition 4 Accelerated Capital Investment 5 Standardised Processes & Procedures 6 Focus on Western Hemisphere 7 Reduce Staff Turnover 8 Training and Competence 9 Improved Safety Culture 1.2 Strategy analysis-external business environment Political Part of EnerMech’s strategy is to expand its global footprint into the western hemisphere, due to the location of the oil in gas in politically unstable countries for example Brazil and Colombia. Since 2010, oil production has flattened out entirely. In 2013, Brazil averaged only 2.7 million bpd of oil production, which is where it was three years ago. This is due to corruption and money laundering in the major Brazilian oil producing companies. Local content legislation is also obstructing production. With
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