Business Objectives and Stakeholders Essays - 840 Words

Business Objectives and Stakeholders  · The objectives of a firm means the goals of the business i.e. what the business wants to achieve.  · The objectives of business organisations will be shaped by the various stakeholders in the business. Those with the most influence will tend to set the objectives.  · It is important for a business to have well defined objectives. These will help the business to be clear about what it wants to achieve.  · For example, Mission Statements  · These are descriptions of the overall aims of the business and its short term and long term objectives.  · They tend to be aimed at all stakeholders and may be printed in the Annual Report and†¦show more content†¦In the long term it is unlikely that survival would remain the only objective, except perhaps for small businesses. Business owners tend to be ambitious and so pursue other objectives. Stakeholders Stakeholders are various groups of people who have an interest in the business. The interest each stakeholder has in a business will vary according to the nature of their ‘stake’. It could be argued that owners, managers, and employees are internal stakeholders as members of the business organisation. The remainder could be seen as external stakeholders because they are not part of the business. 4 different stakeholders of Fulford School are: * Pupils- * Teachers- * Governors- * Parents- It is often difficult for a firm to survive during the early stages of trading there are several factors that may apply to a new business.  · Lack of experience which can often lead to mistakes  · A lack of resources  · Competition from established firm  · Unforeseen problems such as unexpected costs  · Limited recognition by customers Profit maximisation is achieved where the difference between the total revenue earned by the business from sellngit6s produces and the total costs of the products is the greatest. It is obvious a business will aim to make as much profit asShow MoreRelatedStakeholders Influences Upon Aims And Objective Of A Business1191 Words   |  5 Pages Newspaper series title: business watch By Ferdaws Noori Date (26/09/2014) Article title: article 3: Stakeholders influences upon aims objective of a business Coca cola Coca Cola is a soft fizzy drink sold in every store throughout the world. It is produced by The Coca Cola Company of Atlanta in Georgia, and is often called as Coke. Purpose The purpose of coca cola is to design develop and advertise soft drinks the customers can enjoy, and also make profit from selling of softRead MoreExplain the Roles of Both Internal and External Stakeholders in the Selected Business and Show How Their Objectives and Expectations Have Changed over Time4254 Words   |  18 PagesExplain the roles of both internal and external stakeholders in the selected business and show how their objectives and expectations have changed over time. What is a Stakeholder? A stakeholder is someone who is interested in a company or business, e.g. Tesco; they can either be an internal or external customer to the business. They may also be affected in a situation that happens to the company because they them selves may of given and invested money into the company or may just be interestedRead MoreBusiness Functions Of A Business988 Words   |  4 PagesIdentify the business functions MWS will need in order to operate effectively. MWS needs a variety of business functions in order to operate effectively. Identifying the business functions for any organization serves as a starting point in developing its mission statement. As the business of the company is over the internet, therefore, It needs to determine that how the internet will further the information and efforts for communication of the company and with whom the information will be sharedRead MoreStakeholders Examples1531 Words   |  7 Pagesorganization. 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People are stakeholders in a company for financial reasons, customers do not want to have to spend an excessive amount of moneyRead MoreIdentify the Mission, Objectives and Responsibilities of an Organisation Within Its Environment1653 Words   |  7 PagesIdentify 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-termRead MoreUnderstanding the Organisational Purposes of Businesses Essay1560 Words   |  7 PagesCourse Name: Level 4 HNC Business UNIT TITLE NO. AND TITLE: Unit 1 Business Environment Assignment No. and title: Assignment 1- Understanding the organisational purposes of businesses (DRAFT) Date Submitted 21st May 2012 Understanding the organisational purposes of business In this day and age all individuals will have some affiliation with a business organisation. Whether it be the company they work for, the retail store they purchase their groceries or the NHS dentist they attendRead MoreThe Maximisation Of Shareholder Value Essay1691 Words   |  7 Pagesshareholder value is a corporate objective that has become increasingly popular since the 1980’s. Many companies explicitly state that maximising shareholder value is one of their key business objectives; an example of this is Coca-Cola, who state in their Coca-Cola Company Vision (2016) that â€Å"maximising long-term return to shareholders† is one of their business goals. In this essay, I will consider the extent to which maximising shareholder value is a reasonable objective for firms, as well as provideRead Morebtec business level3 unit 1 d11348 Words   |  6 Pagesï » ¿D1: Evaluate the influence different stakeholders exert in one organisation. I will be evaluating the influence different stakeholders exert on Carphone Warehouse. Carphone warehouse is a successful UK mobile phone retailer. They have 1,700 stores across Europe so they are a large organisation. Manager is one of the stakeholders in Carphone warehouse. The influence the manager has on Carphone warehouse is very important. The manager in Carphone house is driven by success and will look for innovativeRead MoreConcept Of Stakeholder Management And Project Life Cycle1658 Words   |  7 Pages3.0 Introduction Literature review presented in this chapter covers areas that are relevant to the research and its objectives. By critically examining the literature, a pattern within literature is built that provides deeper insight into the topic. The focus was to understand different ways that authors have interpreted the concept of stakeholder management and try to answer some of the research questions. Review of different publications assisted the researcher to gain a better understanding of