P4-Development of strategic aims and objectives
Strategic aims
These are aims/goals that you go and strive to achieve and accomplish. These goals can
include things like, expanding the business, attracting a certain number of customers to the
business or even open branches nationally or globally. These large goals take time to reach
for businesses, that’s why you can strategically aim and work to get through and complete
those aims as quickly as possible.
Strategic objectives
Strategic objectives are long-term organizational details that help the goals, and the goals
help to convert a mission statement from a broad vision into more specific plans and
projects.
Mission statement: A sentence describing a company's function, markets and competitive
advantages; a short written statement of your business goals and philosophies. A mission
statement defines what an organization is, why it exists, and its reason for being.
https://www.entrepreneur.com/encyclopedia/mission-statement
Tesco strategic aims and objectives
The Tesco PLC is a profit-making company and like all other businesses of this type, its main
aim is to survive, maximise profits and expand. They also intend to remain at the top
position in the retailing sector and are therefore very competitive. In addition to this, they
aim at maintaining high standards when it comes to their products, customer service and
meeting stakeholder expectations. The Tesco PLC also targets to broaden their range of
products to increase sales and obtain more profit. The board of directors develop the aims
and objectives in the organisation. These aims and objectives keep the business and staff
focused and gives them a sense of direction so that they have a clear and specific goal. In
other words, it emphasises what the business wants to accomplish. It also keeps everyone in
the business motivated and inspired to do their best.
Tesco’s mission statement:
“Creating value for customers, to earn their life time loyalty.” Tesco’s mission statement
suggests that they want the best for their customers. If they are getting the best, Tesco want
the customers to be loyal and shop at Tesco’s only and no other competitors.
Macmillan’s strategic aims and objectives
The main aim of the Macmillan is to provide adequate health services to the public with no
monetary charge. The Macmillan is funded by the government and through people’s
donations and they intend to keep the working force in good health to keep the number of
cancer patients low and thus keep the economy stable. The organisation also tries to deliver
services at the highest possible standards. Therefore, they are constantly making
improvements in services for better quality of care for all patients. It allows all the managers
and directors to have a vision and work effectively towards achieving their targets. It also
builds a sense of motivation and further encourages the staff to give their best when
performing their duties.
, Macmillan’s mission statement
Macmillan’s mission statement is “No one facing cancer should walk alone”. This suggest
that everyone who has cancer should come out and not deal with cancer alone, and get the
support and care or any type of advice that they are requiring/required.
http://www.macmillan.org.uk/about-us
Cascading objectives
The objectives that are set for the organisations as whole are cascaded down through to
different levels and are applied to various components of the organisation. These are then
cascaded down to individual departments that set their own functional objectives. Within
each functional area, each team may then set its own objectives. Finally, individuals in the
organisation may set personal objectives.
Tesco
Corporate objectives
Try to increase revenue of the business by 10% by the end of the year.
Functional objectives
Each department, for Tesco (petrol station and banking) should increase their revenues by 10%.
Team objectives
Each team within the departments is set the objectives to increase its revenue by 10%
Individual objectives
Everyone working for Tesco is set an objective of increasing the revenue by 10%
Macmillan
Corporate objectives
Try to increase staff by 10%, to ensure efficiency and productivity through the business.
Functional objectives
Each department should also try to increase staff, for efficiency and productivity.
The strategic planning process
Strategic aims
These are aims/goals that you go and strive to achieve and accomplish. These goals can
include things like, expanding the business, attracting a certain number of customers to the
business or even open branches nationally or globally. These large goals take time to reach
for businesses, that’s why you can strategically aim and work to get through and complete
those aims as quickly as possible.
Strategic objectives
Strategic objectives are long-term organizational details that help the goals, and the goals
help to convert a mission statement from a broad vision into more specific plans and
projects.
Mission statement: A sentence describing a company's function, markets and competitive
advantages; a short written statement of your business goals and philosophies. A mission
statement defines what an organization is, why it exists, and its reason for being.
https://www.entrepreneur.com/encyclopedia/mission-statement
Tesco strategic aims and objectives
The Tesco PLC is a profit-making company and like all other businesses of this type, its main
aim is to survive, maximise profits and expand. They also intend to remain at the top
position in the retailing sector and are therefore very competitive. In addition to this, they
aim at maintaining high standards when it comes to their products, customer service and
meeting stakeholder expectations. The Tesco PLC also targets to broaden their range of
products to increase sales and obtain more profit. The board of directors develop the aims
and objectives in the organisation. These aims and objectives keep the business and staff
focused and gives them a sense of direction so that they have a clear and specific goal. In
other words, it emphasises what the business wants to accomplish. It also keeps everyone in
the business motivated and inspired to do their best.
Tesco’s mission statement:
“Creating value for customers, to earn their life time loyalty.” Tesco’s mission statement
suggests that they want the best for their customers. If they are getting the best, Tesco want
the customers to be loyal and shop at Tesco’s only and no other competitors.
Macmillan’s strategic aims and objectives
The main aim of the Macmillan is to provide adequate health services to the public with no
monetary charge. The Macmillan is funded by the government and through people’s
donations and they intend to keep the working force in good health to keep the number of
cancer patients low and thus keep the economy stable. The organisation also tries to deliver
services at the highest possible standards. Therefore, they are constantly making
improvements in services for better quality of care for all patients. It allows all the managers
and directors to have a vision and work effectively towards achieving their targets. It also
builds a sense of motivation and further encourages the staff to give their best when
performing their duties.
, Macmillan’s mission statement
Macmillan’s mission statement is “No one facing cancer should walk alone”. This suggest
that everyone who has cancer should come out and not deal with cancer alone, and get the
support and care or any type of advice that they are requiring/required.
http://www.macmillan.org.uk/about-us
Cascading objectives
The objectives that are set for the organisations as whole are cascaded down through to
different levels and are applied to various components of the organisation. These are then
cascaded down to individual departments that set their own functional objectives. Within
each functional area, each team may then set its own objectives. Finally, individuals in the
organisation may set personal objectives.
Tesco
Corporate objectives
Try to increase revenue of the business by 10% by the end of the year.
Functional objectives
Each department, for Tesco (petrol station and banking) should increase their revenues by 10%.
Team objectives
Each team within the departments is set the objectives to increase its revenue by 10%
Individual objectives
Everyone working for Tesco is set an objective of increasing the revenue by 10%
Macmillan
Corporate objectives
Try to increase staff by 10%, to ensure efficiency and productivity through the business.
Functional objectives
Each department should also try to increase staff, for efficiency and productivity.
The strategic planning process
