INFLUENCES ON CORPORATE OBJECTIVES Flashcards
What are corporate objectives
Corporate objectives: Cleat goals that will contribute to the achievemeny of an organisation’s mission statement
What are some examples of corporate objectives
Increase profitability
Enter new markets
Increase social responsibility
Raise brand awareness
Increase product range
What are some internal influences on corporate objectives
Business owenership & pressure for short profitablity - This would usually be for PLC’s, as the shareholders might want to be paid the most they can be paid - That wouldn’t allow the business to reinvest profits
Finance available: Would tend to effect PLS’s more than LTD’s where the investors have been chosen, and would be more likely to be onboard to keeping profits inside the company
Human resource capabilities
Power of stakeholder groups
Attitude to ethics - Companies that just go for profits without considering ethics might consider
Attitude to risk
Business culture/ resistance to change
What are some external influences on business objectives
Political
Economical
Social
Technological
Legal
Ethical/ environmental
Competiton
