Identify the mission, objectives and responsibilities of an organisation within its environment The mission, values and key objectives of an organisation and assess the influence of stakeholders Mission, values and key objectives are of high significance to any organisation. An organisation will state a mission that will describe the function or role it aims to provide in the form of products or services. Although the focus is long term it puts perspective on the short term so that the long-term goals can be met. The values or beliefs of an organisation are basically how they want to be perceived in the way that the organisation conducts itself. This can run all the way through the organisation from the products and services it …show more content…
Employees play a crucial part in the organisation, as they are ones who carry out the labour that needs to be done in order for the organisation to exist. Without this particular stakeholder no other stakeholder would meet their objectives therefore it’s of high importance to meet the objectives of the employees. Most employees and managers objectives are the same. They too have the same objective as a shareholder, which is to make a profit however this is for different reasons. Employees are more likely to want the organisation to make a profit in order for there to be a good infrastructure leading them to benefits and promotion. Employees objectives are to develop their career in the organisation that helps them stay motivated and gain job satisfaction, which could be one of their objectives. Employees will also want job security and won’t want the constant worry of losing their jobs if the organisation is under performing and having to make cutbacks. As well as benefits such as pay increases employees also want good working conditions, which means its vital that the organisation meets all the requirements of The Health and Safety at Work Act 1974. With this being said most objectives for this particular stakeholder would be met however there could be strong competition within the organisation for them to achieve this. Customers are another vital stakeholder in which the organisation has to keep happy. Without customers the organisation would not
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The first key group of stakeholders are the employees. These include both managers and regular employees at all levels of the organization. The managers are in charge of overseeing certain departments within the corporation. Managers must also work to implement the company strategy and work towards accomplishing the company’s
The mission defines the organization’s purpose, values, and core goals, providing the framework for all other plans. It is simple, vivid and compelling so that the employees from the janitor to the CEO, from the customers to investors can easily understand.
Before we can identify the needs of customers and stakeholders, it is important that we can identify who our customers and stakeholders actually are.
Why do I say the customer? Because it is apparent that in modern times more and more businesses alienate the customer and only focus on profit. Take for example the success of Sam Walton, the founder of Wal-Mart, who had one philosophy, “Buy low, sell cheap, high volume, fast turn” (Packer, 101). Walton figured out that people were cheap and he exploited that knowledge to raise his riches. Wal-Mart grew exponentially fast and lost management over its roots, what once started as a business for people in need with perhaps great customer service is now known for driving smaller stores out of business with terrible customer service.
They would want to earn high wages and keep their jobs. Employee is more of an internal stakeholder.
* Customers – Customers is external stakeholders for all organization or firm. Without any customers a company cannot be process. Customers have power to choose their necessary service and products. Seller and marketing cannot force customer to purchase product and service. Example, insurance customers have many choices when they need to purchase insurance. That mean consumers can buy insurance in different company like Tesco Bank, Lloyd Bank, HSBC and other company.
Strategic goals, values, vision, and mission are appropriately referred to as strategies since they direct strategists in their quest to develop crucial organizational directions. The mission aims to capture the distinct purpose of the organization or reason for its existence. The vision attempts to portray a mental image of stakeholders, patients, physicians, employees, and managers want the business to be when it is achieving its mission or purpose, hence, it is regarded as the company’s hope for the future (Swayne, Duncan, & Ginter, 2012). On the other hand, values are those principles that organizations hold crucial as the guiding principles the employees and managers cannot afford to compromise as they plan to achieve their mission as they also pursue strategic goals and missions (Newhouse & Balotsky, 2013). Strategic goals are the overarching outcomes that the organization pursues so that it can achieve its vision and mission. Hence, the
My company is FedEx. The company's stated mission, as per its website (2013) is that it "will produce superior financial returns for shareowners by providing high value-added logistics, transportation and related business services through focused operating companies." This mission statement highlights the following stakeholders: the shareholders and the customers. A further stakeholder not mentioned but critical to FedEx is the company's employees. For example, an often-cited maxim at FedEx is People-Service-Profit, highlighting that it is the people who deliver the value-added for the customers, and that this is how FedEx delivers profits. The company also mentions its partners as key stakeholders, and there will be the usual tangential stakeholders like governments, competitors, potential customers, and suppliers. Most of these are external stakeholders the internal ones are the employees and the shareholders. All managers, even senior managers, are employees and most are shareholders as well.
Stakeholders are people or groups with interest in an organization that can affect or be affected by the organization itself, its objectives, or its policies (BusinessDictionary, 2015). Each stakeholder brings their own perspective to the table based on their relationship with the organization (e.g. internal or external role), their level of experience, and their area of expertise about the subject matter they are involved with. At a high level, the list of stakeholders for any organization could include people or groups such as: customers, employees, government agencies, suppliers, unions, community resources, shareholders, and business owners. For the purpose of this assignment, I will discuss and review stakeholders relative to the
The mission statement communicates to stakeholders the main activities that the company focuses on in order for it to achieve its vision. The mission statement communicates to employees’ information on how to conduct their day to day activities. The mission statements also describe the organizations, policies, culture as well as ethics (Alesia 2013).
Customer is the whole and sole for an organization without which an organization is unable to take care of its fundamental functioning. Thus GE laid special attention over customers and their
Is management by objectives dead? Not so long ago I would have said yes, not because the idea was bad – like many of the “good practice” ideas of the late 1980s it is a good idea. The problem was, and still is, implementing objectives where it counts, on the shopfloor, or in the office. If anyone out there has been successful in doing that and getting their employees and staff to “buy in”, by taking ownership of the company or organizational objectives, then I would be very interested to know how they have achieved it. What is more, if on top of that you have then managed to get employees to take responsibility for and be committed to those
The mission of a company is considered to be its purpose. Basically, it should include what you will provide, who you will serve and also highlight your key attributes that should distinguish your organization from your competitors. There are no specific rules to develop a mission statement, what really matters is that should be a reflection and a helpful synopsis of the organization as well as it should speak to your stakeholders. Some characteristics that makes a mission statement successful is when it is succinct and can be printed in the back of a business card, when it is memorable and unique. Lastly it ought to be realistic and current, for instance, the mission should be a description of the present and not the future as well as it can not change constantly, in this case, when the firm changes its priorities, it is necessary to think if the new directions will affect its mission.