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Transcript of Corporate objectives:
Corporate Objectives explained:
Other examples of Corporate Objectives:
Apple: Apple's main corporate objective is to sell top quality products and gain profit for shareholders.
Corporate Objectives explained:
Corporate goals or objectives are high level targets that a business will set for themselves to achieve in a certain time period. Every businesses corporate objectives will be different dependant on the size of the business and whether the objectives are good can, realistically, be achieved. So for example a business like Apple could set a corporate objective of 'increase market share by 10% in the calender year' and this would be a realistic objective because of the size of the business, whereas a business like 'lenovo' may struggle to achieve that as a corporate objective so will need to set something more realistic.
So as we know corporate objectives are the Overall objectives of a company and therefore the goals that are set as corporate objectives are definately going to have an effect on the other objectives of the business for example 'functional objectives' so going back to Apple setting for example an increase of 10% market share, this could mean that functional and marketing objectives then get effected because of the increased demand for there services, e.g. having to work increase productivity to help push for the corporate objectives.
What is a corporate objective?
1. Corporate objectives are specific, realistic and measurable goals which an organization plans to achieve within a given period of time. (Marketing Definitions.com)
2. A well defined and realistic goal set by a company that often influences its internal strategic decisions. Most corporate objective targets used by a business will specify the time frame anticipated for their achievement and how the companies success is going to be assessed. (Business dictionary.com)
3. Corporate objectives refers to a businesses overall goal which they want to achieve. Most businesses will set these goals and assess them thoroughly to ensure they are all achievable and likely to happen.
Examples of Corporate objectives:
Examples of corporate objectives for businesses generally:
Sales revenue: a traditional measure of the size and strength of a business – if revenue is growing then the business is growing
Profit: increasing the profit per unit of their company – i.e. return on sales
Return on investment: e.g. ROCE, ROI: when a business focusses on making more return on the money they invest into the business. This is particularly relevant to capital-intensive businesses
Growth: sales volume, revenue, profit, earnings per share all help the business grow in size
Market share: the proportion of markets and industries owned by the business or its products
Cash flow: this can be similar to a profit objective, but with the focus on maximizing the net cash inflow of the business
Shareholder value: particularly important for public businesses where the business is tasked with growing the value of the business and making shareholders money
Corporate image & reputation: increasingly important – links closely with corporate social responsibility, product and customer service quality, and business ethics.
Corporate Objectives of Aldi and Lidl.
Aldi corporate objectives: "To promise customers quality products at the best possible price. Aldi's suppliers realise this and work closely together to achieve a shared goal of putting customers first"
Lidl corporate objectives: "LIDL business aims are to serve customers with good quality products and to make a profit."
British petroleum: BP’s objective is to create value for shareholders and supplies of energy for the world in a safe and responsible way
NHS: to provide maximum patient satisfaction and to provide financial stability