Aims, purpose, values and structure Flashcards
What are the three main types of organisations?
Private sector
Public sector
Voluntary or non profit
What are private sector organisations?
Owned by businesses
Exist to make a profit
Trade in a competitive market
What are public sector organisations?
Funded by the Government
Provide services to public
Do not exist to make a profit
Are financed through the public
What are voluntary or non profit organisations?
Motivated by the desire to achieve social goals (improving public welfare)
Reinvest money rather than creating profit
Benefit the public
Includes local community projects and groups
Examples of private sector businesses
Thomas Cook Co-op Alton Towers Premier Inn Topshop
Examples of public sector businesses
NHS
British Army
BBC
Examples of voluntary organisations
National Trust
British Heart Foundation
Help for Heroes
What is organisational culture?
The way an organisation demonstrates its values and purpose
What are business values?
They are the core principles or standards that guide the way an organisation does business. They sum up what the business stands for and what makes it special. Core values always remain the same.
What is a mission statement?
The purpose of the organisation or its reason for existing
It is a written declaration of an organisations core purpose and focus
Defines the business, objectives and approach
What is a vision statement?
Describes the desired future position of the company
Outlines what the business hopes to achieve
Why are mission and vision statements important?
Clarify direction, aims and objectives
Promote a specific organisational culture and attract customers/stakeholders
What is a business aim?
It is a statement of purpose about where the business would like to be in the future
What is a business objective?
The stated, measurable targets of how a business plans to achieve its aims
Why are aims and objectives important?
Provide a clear direction
Able to plan activities aligned with aims
Promote a culture that works towards the same goals