The mission, values and key objectives of an organisation and assess the influence of stakeholders
Mission, values and key objectives are of high significance to any organisation. An organisation will state a mission that will describe the function or role it aims to provide in the form of products or services. Although the focus is long term it puts perspective on the short term so that the long-term goals can be met. The values or beliefs of an organisation are basically how they want to be perceived in the way that the organisation conducts itself. This can run all the way through the organisation from the products and services it provides to how the employees are treated and conduct themselves in and out of the workplace. The key objectives of an organisation are the goals and results that they aim to achieve over a certain amount of time.
The mission is influenced by most stakeholders however some more than others. It is more likely that the internal and external stakeholders will hold more influence on the mission. This is because the employees, managers and shareholders will all be striving for the same function it aims to provide in the products or services it provides.
The internal and external stakeholders will mainly influence the values or an organisation. The internal stakeholders such as employees and managers will want the organisation to be conducted in a particular way. The managers will want all employees to follow the codes of behaviour they set for them. The employees will want to know that the organisation they work for has morals and standards and isn’t viewed in a negative way by external stakeholders and the general public. Not all employees are just focused or motivated by money, having a mission and values could help employees stay motivated and give them the job satisfaction that they aim for. The external stakeholders such as the community and the government will also influence the values of an organisation. As I already said the employees will want to know they are working for an organisation with values and ethics. The government will also influence the values of an organisation, as there certain legal matters that the organisation will have to conform to in the way they conduct themselves.
The key objectives are highly influenced by the shareholders, customers, employees and managers. They all have one thing in common which is for the organisation to provide the best product or service possible. They all have different reasons for this such as shareholders will want to make the company highly profitable, the customers want to receive the best product or service and the employees want to stay motivated in terms of job satisfaction and also possible pay increases or promotion. Therefore the goals and aims of the organisation will all be similar as to what the stakeholders want meaning they all have a significant amount of influence.
The extent to which an organisation achieves the objectives of three stakeholders
There are three types of stakeholders, Internal, Connected and External. An organisation achieves the objective to each of the stakeholders but only to a certain extent. Shareholders are a very important stakeholder in the organisation and there main objective is to earn profit on the capital they have introduced. Shareholders will not be happy if they have to introduce large amounts of capital and don’t see profit as one of the key objectives to the organisation. Before shareholders invest in the organisation it is highly likely that they will want to know the mission, value and key objectives of the particular organisation so they understand and know the direction the organisation wants to take. In most organisations profit needs to be an objective in order for the organisation to survive therefore their objective in most cases is met. This doesn’t always occur in the...