Organizational objectives and individual objectives

1. Organizational objectives and individual objectives Chapter 1 Sultana Parveen

2. Organizational objectives These are the Purposes Mission Goals of an individual organizations which are established through administrative processes.

3. Organizational Mission The Mission states the organization’s values, aspirations, and reason for existence. The Mission Statement is the basis for all following goals and plans. Without a clear mission, goals and plans may be developed haphazardly causing the organization to fail.

4. Organizational objectives It comprises of Organization’s long term plans Short term plans Administrative philosophy

5. Goals and Plans Goals: specify future ends. Desired future state. Plans: specify the means to future ends. “The blueprint for goal achievement… specifies the necessary resource allocations, schedules, tasks…”

6. Strategic Goals and Plans Strategic Goals pertain to the entire organization (not specific divisions and departments). Strategic Plans define the action steps the company will use to attain strategic goals.

7. Characteristics of objectives S- specific Clear and easy to understand M- measurable A- acheivable R- realistic T- time bound

8. Some important organizational goals Profit maximization Increase market share Corporate growth Survival in the dynamic market Corporate social responsibility taken up Maximizing benefits to consumers

9. Importance of clear objectives To control and set business boundaries Enhances motivational level of employee Provides direction and focus for organization and individuals Gives business a sense of direction Acts as a base for decision making Encourages strategic thinking for business Foundation for measuring performance