management objectives

8/20/2019 management Objectives

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Dheeraj guptaManish patidarReeta vishwakarmaShweta jain

Prof. anindita chatterjee Presented By:-Submitted To:-


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“If you don’t

know whereyou are goingyou’!! end up

somep!acee!se."


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#$%&'(I)&S #* $+SI,&SS

Organizations are created As a tool for theachievement of common objectives through cooperativeeffort.

It is the first step in planning process.

Plans, strategies and policies cannot be formulated unlessthe objectives have been clearly identified and defined.

objectives provide the basis and direction for the

performance of all the other managerial functions.


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(he concept and nature ofo-jectives

Objectives are broad statement of the values which the

organization aim at attaining in the future They representthe outcomes or targets that the business wants to gain inorder to achieve its aims.

ell defined objectives are important.

They will help the business to be clear about what it wantsto achieve.

The performance of a business could be assessed by howeffectively it achieves its objectives.

Objective thus refer to future destination of an organization


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Purpose mission

o-jectives and goa!s

The word purpose, mission, objective and goal are often used

interchangeably however, there are fine distinction between them

Purpose refer to basic intention in establishment of anorganization.

The purpose of an organization takes the form of a mission when it

is associated with some ideology, religious, or moral values, and its

founders are psychologically committed to its attainment.

Objectives are more specific than purpose, and have a time

dimension.

Goals constitute elements of objectives, and are more specific.

Goals are not only specific statements of the desired results but

also have relatively shorter time dimension.


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!arayan murti chairperson infosis group

The company follows the followingprinciples"

Vision " #e will be a globally respectedcorporation.#

Mission " #To achieve our objectives in anenvironment of fairness, honesty, and

courtesy towards our clients, employees, vendors and society at large#.


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#rganiations havemu!tip!e o-jectives

Organizations are generally characterized bymultiplicity of objectives.

Organizations having plural objectives is that they have todeal with a number of interest groups who have sta$es intheir survival, growth and profitability.

These interest groups are mainly sta$eholders, creditors,employees, customers, suppliers, community, society and

government. Another reason for multiplicity of objectives is that no

single objective is ade%uate to ensure the survival, growthand profitability of an organization.


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Specific

!stating e"actly what it is trying

to achieve. Measurable

!able to be measured to decide

if they have been achieved. Agreed

!have the approval and

understanding of everyoneinvolved.

Realistic

!able to be achieved by the

business taking into accountits resources, competition,

market, etc. Time Specific

!state a time by which they

should be achieved


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#$%&'(I)& /R& /RR/,0&D I,/ 1I&r/R'12

Organizational efficiency

&igh productivity

Profit ma'imizationOrganizational growth

Industrial leadership

Organizational stability

(mployee welfare

)ocial welfare


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3#,0 /,D S1#R( R/,0&#$%&'(I)&

3#,0 (&RM #$%&'(I)&

*ong+term objective defined any goal that has a time

frame e'ceeding +- year. /usiness goals that arenormally considered long+term include 0eveloping anew product growing annual revenue and developing acomprehensive mar$eting and public relation strategy

*ong+term goals must not go on forever. hile theyta$e more time than short term objective long+termgoals must be realistic and time bound


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S1#R(4(&RM #$%&'(I)&

)hort+term objective represent the goals an

organization sets that are centered on tas$sthat can be achieved within the ne't si'months or at the outset within one year

('ample +short term goal might be toincrease sales by -1 this is an easilymeasurable goal and employees can be helddirectly accountable for ensuring that it is

met


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'ontinua! adjustment ofo-jective

2ontinual adjustment is simply alwaysidentifying and ma$ing change that resultin better outcomes


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IMP#R(/,'& #* #$%&'(I)&S

Objectives are the essence of organized (ndeavour. They serve anumber of important purposes, such as"

-.Provide a basis for the performance of all other managerial

functions.

3.Provide an uni%ue identity for the enterprise.

4.Provide direction to organized effort.

5.&elp in uplifting the employee morale and motivation.

.)erve as criteria for evaluating decisions.

6.Provide a basis of control.


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Provide a -asis for theperformance of

manageria! functions Objectives are the initial point of departure for

the performance of all managerial functions.

+ They provide the basis for the formulation of longand short range plans, strategies, policies and rules,procedures, budgets, etc.

+ There cannot be any planning without first definingthe objectives, as its fundamental function is to chart

the programes and courses of actions for theirachievement.

+ Activities re%uired for the implementation of plansprovide basis for organizing, which in turn signifies the

need of staffing by creating jobs and positions.


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2oordination is then re%uired for channelizingall organizational activities and efforts towardsthe achievement of the desired objectives.

The objectives also serve as a standards for theperformance of control functions.

Thus, objectives serve as the benchmar$ for allmanagerial functions.


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Provide an uni5ue identity forthe enterprise.

(very organization is uni%ue in its character, and itis objectives that provide it this uni%ueness.

(g., A radio manufacturing company which defines its business as music will be different from another which aims at providing means of entertainment. Thefirst company is product+oriented and the second oneis customer value+oriented. )imilarly, a company thataims at providing %uality products is different fromthe other which has low+priced products as one of itsobjectives. Objectives thus provide an identity to anorganization what it is, what are its values, in whatdirection it is moving, and it will be in the future .


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This identity of the company provides its

creditors, investors, customers, suppliers,employees and other interest group a basis to differentiate it from othercompanies in the industry.


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Provide direction to organiede6ort

Objectives guide actions.

They provide direction for the performanceof organized activity.

ithout the guidance provided by objectives, the various parts of an organization+ divisions,departments, sections and employees+ will be

pulling in conflicting directions resulting in chaos.Objectives are, therefore, critical in providingdirection to organized effort.

2ommon objectives serve as a basis for

cooperative and organized efforts.


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1e!p in up!ifting theemp!oyee mora!e and

motivation

Objectives provide a sense of purpose to employeeactivities which helps in boosting their morale.

(mployees see$ to satisfy their own personal goalsthrough contributing to organizational goals.

Objectives provide the basis for integrating the

employees personal goals with their functions,duties and responsibilities.

Accomplishment of organizational goals providesthem a sense of achievement which acts as a

morale booster and motivator.


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Serve as criteria for eva!uating decisions

0ecisions are a means foraccomplishing the desired goals.

A decision is good or bad, optimal orsuboptimal, functional or dysfunctionaldepends on the results which it producesin the future.

If these results contribute to theattainment of predetermined objectives, it

will be regarded as a good decision.


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Provide a -asis of contro!

2ontrol is the function of measuring ,comparing and evaluating performance

against predetermined standards.2ontrol will be meaningless in the absence

of standards.

The standards for the comparison andevaluation of performance are provided byobjectives.


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primary

• Production anddistribution of saleable

• )hareholders, creditors,suppliers, customers,employee and thegovernment

Secondary • 7uality control industrial

engineering, security etc

socia!

• 2ommunity and society

• 8inimally should be lawabiding citizen

(ypes of o-jectives

/ c c o r

d i n g

t o

D a v i s

k i hi h -j ti


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key area in which o-jectiveshou!d -e set

8ar$et standing

InnovationProductivity Physical and financial resourcesProfitability 8anager performance and development or$er performance and attitudes)ocial responsibility

/ccording to Ducker


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o-jectives common to a!!kind of -usiness enterprises


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ORGANIZATIONAL

OBJECTIVE

SRVIVAL

GRO!T"

PRO#IT

E##ICIENC$AN%

PRO%CTIVIT$

INNOVATION

E&PLO$EE%EVELOP&E

NT

SOCIALRESPONSIBILI

T$


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surviva!

Important when

Recession'hanges in customer needs

Major techno!ogica! changes

,on avai!a-i!ity of raw materia!s


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growth

If it does not grow it wi!!decay

9rowth than profitma'imization According 8c:arland anenvironment of growth isconductive to high morale,

creativity and heightened levelof human performance one sided growth mayendanger a company;s survival


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pro7t

Investors andcreditors

According to 0ruc$er

profit is a conditionof survival and thecost of staying in the

business


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&8ciency and productivity

(fficiency+ economy in theutilization of the resources

=educed input output ration9reater is the efficiency in

resource utilization greater is

the productivity Indian productivity council


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Inno

vation

,eeded In Technology

8ethod and process ofproduction

Improving %uality and variety of products

=educe cost of production

mar$eting


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&mp!oyee deve!opment


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Socia! responsi-i!ity

(cologicalpreservation!eed satisfaction=ole ofgovernment


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$a!ancing the o-jective

)etting of priorities

P R # *

I ( M / R

9 & ( I ,

0 S # ' I /

3 ( & ' 1

, # 3 #

0 I

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management objectives

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