Main objectives
Corporate social responsibility
When a company aims to act ethically and responsibly so they look good to the public. is when a company aims to act ethically and responsibly to ensure the public perceive them in a positive light.
Examples and benefits of CSR:
- ReducingThis is the total set of greenhouse gas emissions that are caused by an organisation, event, product or person. However, it is more usually taken as a measure of carbon dioxide and methane emissions within a population. can improve a company鈥檚 reputation as they are seen to be eco-friendly. It may also attract new customers.
- Creating new safety measures can lead to a business gaining quality and safety awards which can then be used as an effective marketing tool and give the company a competitive advantage.
- Improving working conditions of employees will motivate existing staff and attract new staff to the organisation.
- Recycling, reducing waste and minimising packaging can reduce costs for an organisation and improve their reputations.
Managerial objectives
Managers within a business can often have their own objectives which may conflict with or support the main objectives of an organisation.
- Working within a budget 鈥 managers will be given a set budget to which they have to adhere. This may prevent them from meeting some of the objectives of the organisation.
- Increased salary or position 鈥 a manager may be aiming to gain a promotion which may help them to meet the main objectives of an organisation. Managers may be aiming to maximise sales to ensure they gain an increase in salary.
Satisficing
A company who aims to To do the minimum amount needed to achieve a particular goals. The word joins together will be looking to be just good enough to achieve their other objectives but no more than that. They do not aim to be the best possible but to do the best they can to satisfy stakeholders such as shareholders and customers. This may be due to external pressures such as low economic growth or internal factors such as a lack of finance.
Growth
Most businesses within the Organisations owned by private individuals. will aim to grow. In order to survive in a competitive market a business must change and develop over time to keep up with market demand. The larger a business becomes, the more opportunities become available for profit and increased economies of scale. Larger companies are at less risk of being taken over by competitors.