BUSINESS OBJECTIVE &  STAKEHOLDER OBJECTIVES

What we need for business objectives?

It is must be S.M.A.R.T

1.      SPECIFIC
(What, Who, Where, When, Why, Which)
2.      MEASUREABLE
(From & to)
3.      ATTAINABLE
(How, Actionable, It must be challenging)
4.      RELEVANT
(Worthwhile, Response)
5.      TIMELY
(When)

Note: Always record your goals to review at what you’ve been done
  
STAKEHOLDER
OBJECTIVES
INFLUENCES

Owners/Stakeholders
To benefit from an increase in share value
The owners make their decisions for their business

Managers
To have job satisfaction & statues
To receive salary increase &bonuses


Employees
To have job security
To receive a fair wage that reflects their contribution to the business’s success


Banks & other institutions that have a financial interest
To receive interest payments when due
To have borrowing repaid by the due date


Suppliers
To receive payment for goods supplied on credit
To be treated fairly & not be forced to reduce their prices by businesses with strong buying power


Customers
To receive quality goods & after sales service
To be charged a fair price which gives value for money


Government
To be paid the correct amount of taxes on time
To have minimal spending on unemployment benefits


Local or national community
To receive benefits for the local economy such as employment & subsidising community facilities
To avoid the negative impact of business activities such as noise, air & traffic pollution.