Objectives Flashcards
Private sector objectives:
CSR, maximising profits, provide a quality service, increased market share/growth, , survival, managerial objectives, satisficing
Public sector objectives:
CSR, provide a quality service, improve society, work within a budget
This sector objectives:
CSR, provide a quality service, raise funds to support a cause, support the local community
Maximising profits:
Making as much profit possible
Satisficing:
Aiming for satisfactory results rather than best possible
Quality service:
private- encourage customers to return
public- satisfy needs of community and improve standard of living
third- provide a quality service for those who need the help
Increased market share:
Increasing total percent of sales in the market
Managerial objectives:
e.g. work within a budget, expand to ew markets, develop new technology,
Maximising sales:
Maximising sales may be done if employees earn commission they may be less interested in profits and more interested in units
Customer satisfaction:
Keeping customers as happy so possible they will return and recommend. This can be done by:
- Giving value for money
- Providing quality products
- High quality staff
- Keeping promises
- Customer care strategy
- Customer service
- Aftersales service
What is CSR?
Corporate social responsibility. The organisation aims to act in an ethical way of in any way that benefits society or the environment
Ethical and environmental CSR:
- Reusable energy
- Sustainable raw materials
- Offering pay above minimum wage
- Avoid testing on animals or child labour
Economic CSR:
- Fair prices to customers
- Fair and competitive market
Advantages of CSR:
- Good reputation
- Customers agree with the aim
- Positive environmental feedback
- Good PR (public relations)
Growth:
Make a business larger
