Corporate Obj

8/6/2019 Corporate Obj

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Corporate Objectives

Corporate objectives are statements of intent that provide the basic direction for theactivities of an organization in pursuit of its mission.

In many organizations there is overlapping and confusion between the terms objectives andgoals. This is easy to avoid if you think of objectives as statements of intent and goals asquantifiable targets. For more about goals and objectives, click here

Generally speaking, an objective is a broad statement of an intention to do and/or achievesomething.

F ollowing are some typical corporate objective statements:

"T o design and manufacture our products in the most cost-efficient manner for timely distribution to our national network of suppliers. "

"T o undertake a new and rigorous research and development program aimed at developinga new line of products geared toward the sports market. "

"T o provide the highest level of service possible to our patients, physicians, and the that communities we serve. "

"T o foster a challenging, rewarding and satisfying work environment for our employees. "

H ere are the published corporate objectives of a majormanufacturing company in the UK:

"T o supply our customers with the highest quality products and provide outstanding levelsof sales and delivery service, incapable of being matched by our competitors, and thereby increasing our market share. "

"To undertake this challenging task with the objective of delivering superior rates of returnto our shareholders and providing opportunities and reward for our employees."

W riting Tips:

1. When formulating corporate objectives statements always think in terms of "What arethe key things that we need to do to achieve our mission on an ongoing basis?

2. Since corporate objectives are statements of "intent" most of them can begin with "to" inthe sense of "It is our intent to«.".



Corporate Objectives Definition Features and FunctionsIn order to evaluate the value of the product portfolio, it must be associated with corporateobjectives. Corporate objectives must be defined clearly and associated with measurementcriteria in order to evaluate the value of individual investments with those objectives.

y U nlimited, user-defined corporate objectives

y Corporate objective criteria description

y M etrics with subjective results

y M etrics with objective results

y M etrics with results from selection list

y M etrics target value

y M etrics target range

y R elative weighting of corporate objectives

y U ser defined metrics with calculated results

y A ssociate unlimited documents with corporate objectives



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³Contributing to Our Community, Economy, and Society in a Meaningful Way.´

An organization·s Hierarchy of Goals contains: departmental objectives and goals, strategicobjectives, mission, and organizational vision. The company vision is at the starting point forarticulating a company·s hierarchy of goals. It is usually described as a goal that is ´massivelyinspiring, overarching, and long-term.µ

An organization·s vision states what the core spirit of the company is for its sustainable operation,and serves to point the direction of where the organization wishes to go. Obviously, Rogers putstheir organization·s vision at the point of their strong corporate citizenship- their Corporate SocialResponsibility (CSR).

On their website, they expect to be a good organization contributing to their employers,customers, shareholders, and the neighborhoods in the communities. They are seeking ways to bea better citizen in the business world. They believe that besides the business, there is noexception for them to learn and grow their corporate social responsibility. Therefore, they keepon ́ strengthening their CSR practices and adopting a more rigorous and systematic approachµ inorder to carry out their CSR. In addition, they also believe that the basis of CSR is also to do whatthey should do the best, that is, to increase great value to their customers· lives through theirvarious product services.



Currently, their key Corporate Social Responsibility priorities and themes include:

· Customer transparency.· Product stewardship.· Employee relations.

· Community Investment.· Climate change and energy use.· Ethical supply chain.

I thought a company·s vision seems to be a far-away or unreachable wish that it takes a long timefor the company to accomplish. However, the true is that a vision statement can be simple asthat, when the vision equals the CSR. Maybe at some points, it is a long and difficult way for a bigenterprise to complete their social responsibility that satisfies every person in the communities. Itis good that Rogers has the consciousness of social responsibility to contribute and feedback to thecommunity, economy, and society in a meaningful way.

Departmental objectivesFeatured in the Setting Objectives and Seeing Them Through trainingmanual

B y B everley Williams

Category: Performance Management

Credit price: 3 download credits (Single user)

Departmental objectives need to be set in order to establish the direction and aimsor goals of the department. Departmental objectives address the objectives set atthe organisational level in greater detail. Departmental objectives may bedeveloped by departmental heads in conjunction with those who set organisationalobjectives. However, this is not always the case. Objectives will sometimes bepresented to departmental heads rather than agreed with them. Every single



member of the department needs to be aware of the departmental objectives andto understand how individually they play their part in achieving them. During thistraining activity, participants examine how departmental objectives fit in to thebigger picture and identify the benefits off some of their own departmentalobjectives.

You open by explaining that this is where objectives start to get more specific,giving a clear view of the targets and expectations of departments and functions.You cover the objectives cascade showing where departmental objectives fit in. Youmove on to acknowledge the many different organisational structures and agree theterms to be used in your own objectives cascade. Next, you examine someexamples of departmental objectives, eliciting participants¶ responses to show whythe theory may not always translate into practical application. Then the participantswork with some of their own departmental objectives to show where they fit in to

the cascade and what they see as the key benefits of the selected objectives. Theypresent their findings to the rest of the group. Finally, you close by covering thekey learning points of the training activity.

W ho is it for: This training resource is intended for use by trainers withparticipants to examine departmental objective setting and asks them to showwhere their own departmental objectives fit in to the bigger picture.

y Themes:

y U nderstanding how effective objective setting can improve performance ,

y A wareness of potential problems of objective setting ,

y U tilising SM AR T,

y Developing SM AR T objectives ,

y A greeing objectives ,R esource Type: A ctivity

Min Group Size: 4

Max Group Size: 10



Typical Duration: 01:30:00

No of Pages: 11

R esources: View standard resources for Fenman training activities

Purpose: This training resource is intended for use by trainers with all members of staff as everyone needs to understand where departmental objectives fit in. Thistraining activity is a brief overview of the topic and is not designed to be used to setobjectives at departmental level. Ideally, participants should already have covered

µObjectives: What they are and why they exi

Corporate objectivesCorporate objectives are those that relate to the business as a whole . They are usually set by the topmanagement of the business and they provide the focus for setting more detailed objectives for themain functional activities of the business.

This can be illustrated as follows:

Corporate objectives tend to focus on the desired performance and results of the business. It isimportant that corporate objectives cover a range of key areas where the business wants to achieveresults rather than focusing on a single objective.Peter Drucker suggested that corporate objectives should cover eight key areas:

Area Ex amples

M arket standing M arket share, customer satisfaction, product rangeInnovation New products, better processes, using technology





Corporate objectives tend to focus on the desired performance and results of the business. It isimportant that corporate objectives cover a range of key areas where the business wants to achieveresults rather than focusing on a single objective.Peter Drucker suggested that corporate objectives should cover eight key areas:

Area Ex amples

M arket standing M arket share, customer satisfaction, product rangeInnovation New products, better processes, using technologyP roductivity Optimum use of resources, focus on core activitiesP hysical & financialresources

Factories, business locations, finance, supplies

P rofitability Level of profit, rates of return on investmentM anagement M anagement structure; promotion & developmentEmployees Organisational structure; employee relationsP ublic responsibility Compliance with laws; social and ethical behaviour

Documents

Corporate Obj