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BTEC Unit 1: The Business Environment - P4
Transcript of BTEC Unit 1: The Business Environment - P4
company to achieve its aims? "Objective": Aims -> Objectives Aims -> Objectives -> Strategy P1: Business Aims P2: Business Stakeholders P3: Business Organization Explain why the company exists
The purpose of the company
A general and broad statement
No details to be available to everyone to provide the highest quality of education to be the largest fast food chain in the world to maximise our profit to be the cheapest airline in the world to be our customers' favourite place and way to eat Examples of business aims Explains what the company wants to achieve
“We are going to win the World Cup in 2014” S - Specific
M - Measurable
A - Acceptable
R - Realistic
T - Time-bound SMART objectives Profit
Reputation Examples of objectives (for-profit) Access to services
Image Examples of objectives (non-profit) Come up with an objective for each aim: to be the largest fast food chain in the world to be our customers' favourite place and way to eat From aims to objectives to be available to everyone to provide the highest quality of education to maximise our profit to be the cheapest airline in the world Exercise: Make SMART objectives HOW will we achieve this? WHAT do we want to achieve? Strategies Objectives Aims WHY do we exist?
How are we going to achieve our objectives?
What are we going to do?
What are our exact plans and activities?
Very detailed Business strategies Marketing campaigns
Changes in staff
Changes in processes
Changes in departments
Changes in branches Examples of strategies EXERCISE: Come up with a strategy for each objective: to have 75% of instructors with a teaching degree in 2011 to raise our profit by 10% in 2 years’ time to have 25 more restaurants in new countries, this year From objectives to strategies from P3 & your imagination use your imagination from the company website from P2 Objective Aim Assignment P4 How to divide the company:
By customer type Organizational style / structure EXERCISE: How can the organizational style help? Provide training facilities for all instructors Offer more food and duty-free items on board Open up sales offices in new countries From strategies to organization style Organize by CUSTOMER TYPE Organize by PRODUCT Organize by AREA Organize by FUNCTION To put the FOCUS on the right place
Improve customer service
Get more sales in America
Move sales towards LED lamps
Get more business customers Why choose an organizational style? HOW can our org. style help us? Org. style HOW will we achieve this? WHAT do we want to achieve? Strategies Objectives Aims WHY do we exist? Strategic planning Strategy Org. style Objective Strategy Org. style