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Unit 1.

3 Organizational Objectives
Syllabus Objectives

Know the characteristics and differences


between vision and mission statements.
Be able to break concepts down into
individual characteristics and see the
broader picture how they relate. E.g. a
vision is the ultimate goal of an
organization, but is unreachable without
a mission that guides the organization
Know the characteristics (time and
SMART) and differences of the different
goals. Be able to combine and synthesize
these ideas into a new idea and make a
judgment based on the weight of
evidence.. E.g. Organizations require a
combination of short term (tactical) and
longer term (strategic) objectives in order
to achieve the aims (mission and vision)
Know the internal (change in ideology, ownership etc) and external (change in societies expectations,
other STEEPLE factors) that can cause the need for a business to change their objectives. Be able to
combine and synthesize these ideas into a new idea and make a judgment based on the weight of
evidence. E.g. Societies expectations of oil companies requires them to consider environmental
progress, however, owners and managers may consider environmentally progressive aims limiting to
business growth.
Know the meaning of ethical objectives
and corporate social responsibility (CSR)
and be able to define them
Know the benefits and costs of
implementing ethical objectives. Be able
to combine and synthesize these ideas
into a new idea and make a judgment
based on the weight of evidence.. E.g.
Ethical objectives often create greater
customer loyalty but can be expensive to
implement.

Know the three attitudes towards CSR (selfinterest, altruistic and strategic) as well as the
internal and external forces that drive changes in
attitudes towards CSR. Be able to combine and
synthesize these ideas into a new idea and make
a judgment based on the weight of evidence.. E.g.
The adoption of CSR by a firm will need to be
financially beneficial in the long-term, however,
CSR varies from country to country, as well as
issue to issue.

Know the SWOT (Strengths,


Weaknesses, Opportunities and
Threats) and what is relevant for
each section. Be able to
combine and synthesize these
ideas into a new idea and make
a judgment based on the weight
of evidence. E.g. The threats
(external) are greater when the
organization has weaknesses in
a similar part of the business.
Furthermore, Opportunities are
more likely to be successful
when the business has more
strengths.
Furthermore, you need to be
able to create (complete,
construct) a SWOT analysis for a
business and draw
conclusions/recommendations
Know the Ansoff matrix axis labels and growth strategies (market penetration,
market development, product development and diversification) and what is
relevant for each section. Be able to combine and synthesize these ideas into a
new idea and make a judgment based on the weight of evidence. E.g. A new
market for a business may be based on the location or the type of customer. This
can make it difficult to determine if the market is new or existing, however, as
long as it can be justified appropriately.
Furthermore, you need to be able to create (complete, construct) an Ansoff
Matrix for a business and draw conclusions/recommendations from it.

Example questions may include:


Define the term Corporate Social Responsibility
[2 marks]
Distinguish between a vision statement and a mission statement
[4 marks]
Construct an Ansoff Matrix for company X
marks]
As India begins to adopt international environmental standards, discuss

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