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Business Environment

Business Environment. HNC/HND International. Aims for the session. To understand how the purpose of organisations are expressed in terms of vision, mission, values and goals. To understand the stakeholder concept and be able to identify stakeholders for a given organisation

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Business Environment

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  1. Business Environment HNC/HND International

  2. Aims for the session • To understand how the purpose of organisations are expressed in terms of vision, mission, values and goals. • To understand the stakeholder concept and be able to identify stakeholders for a given organisation • To complete a stakeholder power interest map for a given organisation

  3. Vision and Mission Vision Statement Values Mission Statement Goals Objectives

  4. Definitions • Mission: Describes the organisation’s basic function in society, in terms of the products and services it produces for its clients’ • Mintzberg • A mission or vision statement is a statement that provides a signpost of where your organisation aims to be in the future • It should explain to customers and other stakeholders what business you are in • It should be motivational and provide a shared sense of purpose • Chartered Institute of Marketing

  5. Definitions • Goals: The intentions behind decisions or actions, the states of mind that drive individuals or collectives of individuals called organisations to do what they do • Mintzberg 1997

  6. Definitions • Objectives: They are normally quantified statements of what the organisation actually intends to achieve over a period of time • They are the activities of the organisation, can be used for measuring performance • They are normally S.M.A.R.T. • Specific, Measurable, Attainable, Results-oriented, Time-bounded.

  7. Case Study: Shell • http://www.shell.com/home/content/aboutshell/who_we_are/ • http://www.shell.com/home/content/investor/strategy/#subtitle_1

  8. Stakeholders • Stakeholders are individuals or groups who have an interest in how the organisation performs because it affects them in some way. • There are 3 broad types of stakeholders: • Internal stakeholders (employees, management) • Connected stakeholders (shareholders, customers, suppliers, financiers) • External stakeholders (the community, government, pressure groups)

  9. Stakeholder Mapping • A strategic business tool which identifies and assesses the effect of a different individual or group of stakeholders on a company. • It examines: • Stakeholder power and the likelihood of them using that power • Their level of interest regarding the company's activities • The goal of the analysis is to gauge which stakeholder or group of stakeholders has the greatest potential to affect the company and therefore decide which stakeholders will need particular attention.

  10. Stakeholder Mapping G. Johnson & K. Scholes, Exploring Corporate Strategy, Financial Times/Prentice Hall, 2002. This diagram has been recreated by LMC.

  11. Stakeholders : Group Activity • Shell • While watching the video: • Identify key stakeholder groups • How do they influence the Values and Objectives of Shell ?

  12. Stakeholder Mapping : Shell Stakeholders A. B. C. D. E. F. G. H.

  13. Any questions so far?

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