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    • Psychology SL/HL >
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      • Biological Approach >
        • Brain and Behaviour
        • Hormones and Pheromones
        • Genetics and Evolution
        • HL Animal Research
      • Sociocultural Approach >
        • Individual and the group
        • Cultural Origins
        • Cultural Influences
        • HL Globalization
      • Cognitive Approach >
        • Cognitive Processing
        • Reliability of Cognitive Processes
        • Emotion and Cognition
        • HL Digital World
      • B. Human Relationships >
        • Personal Relationships
        • Group Dynamics
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        • Developing as a Learner
        • Developing an Identity
      • Studies >
        • Biological Approach
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        • Cognitive Approach
        • B. Human Relationships
        • D. Developmental
    • Chemistry SL/HL >
      • Tips & Guide
      • All Vocab Definitions
      • ALL EQUATIONS
      • Unit 1,2 & 12
      • Unit 3 &13
      • Unit 4 &14
      • Unit 5,6,7 & 15,16,17
      • Unit 8 & 18
      • Unit 9 & 19
      • Unit 10 & 20
      • Unit 11 & 21
      • Option D: Medicinal Chemistry >
        • D.1 PHARMACEUTICAL PRODUCTS AND DRUG ACTION
        • D.2 Aspirin and penicillin
        • D.3 Opiates
        • D.4 pH Regulation of the Stomach
        • D.5 Antiviral Medications
        • D.6 Environmental impact of some medications
        • D.7 Taxol- A Chiral Auxiliary Case Study
        • D.8 Nuclear Medicine
        • D.9 Drug Detection and Analysis
    • Biology SL >
      • Tips & Guides
      • TOPIC 1: CELL BIOLOGY >
        • 1.1 Introduction to cells
        • 1.2 Ultrastructure of Cells
        • 1.3 Membrane Structure
        • 1.4 Membrane Transport
        • 1.5 Origin of Cells
        • 1.6 Cell Division
      • TOPIC 2: MOLECULAR BIOLOGY >
        • 2.1 Molecules to metabolism
        • 2.2 Water
        • 2.3 Carbohydrates and Lipids
        • 2.4 Proteins
        • 2.5 Enzymes
        • 2.6 Structure of DNA and RNA
        • 2.7 DNA Replications, Transcription and Translation
        • 2.8 Cell Respiration
        • 2.9 Photosynthesis
      • Topic 3: Genetics >
        • 3.1 Genes
        • 3.2 Chromosomes
        • 3.3 Meiosis
        • 3.4 Inheritance
        • 3.5 Genetic Modification and Biotechnology
      • Topic 4: Ecology >
        • 4.1: Species, Communities and Ecosystems
        • 4.2 Energy Flow
        • 4.3 Carbon Cycling
        • 4.4 Climate Change
      • Topic 5: Evolution and Biodiversity >
        • 5.1 Evidence for evolution
        • 5.2 Natural Selection
        • 5.3 Classification and Biodiversity
        • 5.4 Cladistics
      • Topic 6: Human Physiology >
        • 6.1 Digestive System
        • 6.2 The blood system
        • 6.3 Defense against infectious disease
        • 6.4 Gas Exchange
        • 6.5 Neurons and Synapses
        • 6.6 Hormones, Homeostasis and Reproduction
    • Physics SL >
      • Must-have Resources
      • Full Study Resources
      • Other Resources
      • Tips & Guide
      • IA, Lab Report
      • Topic 1: Measurements & Uncertainties
      • TOPIC 2: MECHANICS
      • TOPIC ​3: THERMAL PHYSICS
      • Topic 4: Waves
      • Topic 5: Electricity & Magnetism
      • Topic 6: Circular Motion & Gravitation
      • Topic 7: Atomic, Nuclear, & Particle Physics
      • Topic 8: Energy Production
      • Option D: Astrophysics
    • Geography SL/HL >
      • Tips & guide
      • Unit 1: Changing population
      • Unit 2: Global climate—vulnerability and resilience
      • Unit 3: Global resource consumption and security
      • Unit 4: Power, Places and Networks
      • Unit 5: Human Development and Diversity
      • Unit 6: Global Risks and Resillience
      • Option A: Freshwater
      • Option B: Ocean and Coastal Margins
      • Option C: Extreme Environments
      • Option E: Leisure, tourism and sport
    • Business SL/HL(pending) >
      • Tips & guides
      • Unit 1: Business Organization and Movement >
        • 1.1 Nature of Business
        • 1.2 Types of Organizations
        • 1.3 Organizational objectives
        • 1.4 Stakeholders
        • 1.5 External Environment
        • 1.6 Growth and evolution
      • Unit 2: Human Resource Management >
        • 2.1 The functions and evolution of human resource management
        • 2.2 Organizational structure
        • 2.3 Leadership and management
        • 2.4 Motivation
      • Unit 3: Finance and Accounts >
        • 3.1 Sources of Finance
        • 3.2 Costs and Revenues
        • 3.3 Break-even analysis
        • 3.4 Final accounts
        • 3.5 Profitability and liquidity ratio analysis
        • 3.7 cash flow
      • Unit 4: Marketing >
        • 4.1 The role of marketing
        • 4.2 Marketing Planning
        • 4.4 Market Research
        • 4.5 The four ps
        • 4.8 E-commerce
      • Unit 5: Operations Management >
        • 5.1 The role of operations Management
        • 5.2 Production methods
        • 5.4 Locations
    • Economics SL/HL (pending) >
      • Tips & guides
      • MICROECONOMICS >
        • 1.1 Competitive Markets: Demand and Supply
      • macroeconomics
    • Chinese B SL >
      • Oral Example
    • Extended Essay (EE) >
      • General Tips
      • Physics EE
    • Internal Assessment (IA) >
      • General Tips
    • Theory of Knowledge >
      • Essay Example
      • Presentation Example
    • Other notes >
      • Topic 1: Measurements and Uncertainties
      • Topic 2: Mechanics
      • Topic 3: Thermal Physics
      • Topic 4: Waves
      • Topic 5: Electricity and Magnetism
      • Topic 6: Circular Motion and Gravitation
      • Topic 7: Atomic, Nuclear and Particle Physics
      • Topic 8: Energy Production
      • Option D: Astrophysics
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1.3 organizational objectives

For this chapter, you should be able to...

1. explain the definitions and roles of VISION STATEMENT and MISSION STATEMENT
2. define the three types of BUSINESS OBJECTIVES
3. outline the main features of SMART objectives
4. define CORPORATE SOCIAL RESPONSIBILITY
5.
outline the reasons why organizations set ETHICAL OBJECTIVES

​

1. vision statement vs. mission statement

Vision statement
  • specifies the long term aspirations of a business; where it ultimately wants to be.
  • points to the future and vaguer than mission statements
  • aims to inspire and motivate employees
  • vision statement never changes
Mission statement
  • specifies the aims and objectives of the business in the present.
  • describes the core activities of a business 
  • aims to provide a means for accountability by defining key performance indicators
  • mission statement may change
  

2. types of business aims

There are 3 types of business objectives: Strategic, Tactical and Operational
  • Strategic objectives = set by the senior leadership. They are usually the long-term goals that determine the actions necessary to achieve the goals to guide the company in the right direction to achieve the aims.
  • Tactical objectives = set by the middle management. They are usually medium-term action plans to achieve strategic objectives.
  • Operational objectives = set by the lower management. They are usually day-to-day actions plans to achieve tactical objectives efficiently.
​

3. smart objectives

Businesses often use the SMART strategy to set up as effective objectives as possible.
SMART objectives are as follows:
  • Specific - Is the objective clear and well defined?
  • Measurable - Can the objective be measured to see whether it has been achieved or not?
  • Achievable - Can the objective be achieved (is it realistic)?
  • Relevant - Is the objective actually of any use?
  • Time-specific - Has a sufficient time frame been set up?
​

4. corporate social responsibility and business ethics

Corporate social responsibility (CSR) =  considers ethical and environmental issues relating the business activity, towards all stakeholders and not just to owners or shareholders. CSR aims to:
  • treat customers and suppliers fair and equally
  • compete fairly (not engaging in predatory pricing)
  • treat the workforce with dignity and listening carefully to their needs
​
Business often set ethical objectives for the following reasons:
  • Building up customer loyalty
  • Creating a positive image
  • Developing a positive work environment
  • Reducing the risk of legal redress
  • Satisfying customers' ever-higher expectations. for ethical behavior
  • Increasing profits
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  • Home
  • IB STUDY MATERIALS
    • Psychology SL/HL >
      • Tips & Guide
      • Biological Approach >
        • Brain and Behaviour
        • Hormones and Pheromones
        • Genetics and Evolution
        • HL Animal Research
      • Sociocultural Approach >
        • Individual and the group
        • Cultural Origins
        • Cultural Influences
        • HL Globalization
      • Cognitive Approach >
        • Cognitive Processing
        • Reliability of Cognitive Processes
        • Emotion and Cognition
        • HL Digital World
      • B. Human Relationships >
        • Personal Relationships
        • Group Dynamics
      • D. Developmental >
        • Developing as a Learner
        • Developing an Identity
      • Studies >
        • Biological Approach
        • Sociocultural Approach
        • Cognitive Approach
        • B. Human Relationships
        • D. Developmental
    • Chemistry SL/HL >
      • Tips & Guide
      • All Vocab Definitions
      • ALL EQUATIONS
      • Unit 1,2 & 12
      • Unit 3 &13
      • Unit 4 &14
      • Unit 5,6,7 & 15,16,17
      • Unit 8 & 18
      • Unit 9 & 19
      • Unit 10 & 20
      • Unit 11 & 21
      • Option D: Medicinal Chemistry >
        • D.1 PHARMACEUTICAL PRODUCTS AND DRUG ACTION
        • D.2 Aspirin and penicillin
        • D.3 Opiates
        • D.4 pH Regulation of the Stomach
        • D.5 Antiviral Medications
        • D.6 Environmental impact of some medications
        • D.7 Taxol- A Chiral Auxiliary Case Study
        • D.8 Nuclear Medicine
        • D.9 Drug Detection and Analysis
    • Biology SL >
      • Tips & Guides
      • TOPIC 1: CELL BIOLOGY >
        • 1.1 Introduction to cells
        • 1.2 Ultrastructure of Cells
        • 1.3 Membrane Structure
        • 1.4 Membrane Transport
        • 1.5 Origin of Cells
        • 1.6 Cell Division
      • TOPIC 2: MOLECULAR BIOLOGY >
        • 2.1 Molecules to metabolism
        • 2.2 Water
        • 2.3 Carbohydrates and Lipids
        • 2.4 Proteins
        • 2.5 Enzymes
        • 2.6 Structure of DNA and RNA
        • 2.7 DNA Replications, Transcription and Translation
        • 2.8 Cell Respiration
        • 2.9 Photosynthesis
      • Topic 3: Genetics >
        • 3.1 Genes
        • 3.2 Chromosomes
        • 3.3 Meiosis
        • 3.4 Inheritance
        • 3.5 Genetic Modification and Biotechnology
      • Topic 4: Ecology >
        • 4.1: Species, Communities and Ecosystems
        • 4.2 Energy Flow
        • 4.3 Carbon Cycling
        • 4.4 Climate Change
      • Topic 5: Evolution and Biodiversity >
        • 5.1 Evidence for evolution
        • 5.2 Natural Selection
        • 5.3 Classification and Biodiversity
        • 5.4 Cladistics
      • Topic 6: Human Physiology >
        • 6.1 Digestive System
        • 6.2 The blood system
        • 6.3 Defense against infectious disease
        • 6.4 Gas Exchange
        • 6.5 Neurons and Synapses
        • 6.6 Hormones, Homeostasis and Reproduction
    • Physics SL >
      • Must-have Resources
      • Full Study Resources
      • Other Resources
      • Tips & Guide
      • IA, Lab Report
      • Topic 1: Measurements & Uncertainties
      • TOPIC 2: MECHANICS
      • TOPIC ​3: THERMAL PHYSICS
      • Topic 4: Waves
      • Topic 5: Electricity & Magnetism
      • Topic 6: Circular Motion & Gravitation
      • Topic 7: Atomic, Nuclear, & Particle Physics
      • Topic 8: Energy Production
      • Option D: Astrophysics
    • Geography SL/HL >
      • Tips & guide
      • Unit 1: Changing population
      • Unit 2: Global climate—vulnerability and resilience
      • Unit 3: Global resource consumption and security
      • Unit 4: Power, Places and Networks
      • Unit 5: Human Development and Diversity
      • Unit 6: Global Risks and Resillience
      • Option A: Freshwater
      • Option B: Ocean and Coastal Margins
      • Option C: Extreme Environments
      • Option E: Leisure, tourism and sport
    • Business SL/HL(pending) >
      • Tips & guides
      • Unit 1: Business Organization and Movement >
        • 1.1 Nature of Business
        • 1.2 Types of Organizations
        • 1.3 Organizational objectives
        • 1.4 Stakeholders
        • 1.5 External Environment
        • 1.6 Growth and evolution
      • Unit 2: Human Resource Management >
        • 2.1 The functions and evolution of human resource management
        • 2.2 Organizational structure
        • 2.3 Leadership and management
        • 2.4 Motivation
      • Unit 3: Finance and Accounts >
        • 3.1 Sources of Finance
        • 3.2 Costs and Revenues
        • 3.3 Break-even analysis
        • 3.4 Final accounts
        • 3.5 Profitability and liquidity ratio analysis
        • 3.7 cash flow
      • Unit 4: Marketing >
        • 4.1 The role of marketing
        • 4.2 Marketing Planning
        • 4.4 Market Research
        • 4.5 The four ps
        • 4.8 E-commerce
      • Unit 5: Operations Management >
        • 5.1 The role of operations Management
        • 5.2 Production methods
        • 5.4 Locations
    • Economics SL/HL (pending) >
      • Tips & guides
      • MICROECONOMICS >
        • 1.1 Competitive Markets: Demand and Supply
      • macroeconomics
    • Chinese B SL >
      • Oral Example
    • Extended Essay (EE) >
      • General Tips
      • Physics EE
    • Internal Assessment (IA) >
      • General Tips
    • Theory of Knowledge >
      • Essay Example
      • Presentation Example
    • Other notes >
      • Topic 1: Measurements and Uncertainties
      • Topic 2: Mechanics
      • Topic 3: Thermal Physics
      • Topic 4: Waves
      • Topic 5: Electricity and Magnetism
      • Topic 6: Circular Motion and Gravitation
      • Topic 7: Atomic, Nuclear and Particle Physics
      • Topic 8: Energy Production
      • Option D: Astrophysics
    • Other Citations
  • UNI application
    • United States
    • United Kingdom >
      • Academic Schools
      • Art & Design Schools
    • China
    • Japan
    • Hong Kong
    • Canada (pending)
    • Australia (pending)
  • our warm advice
    • academic advice!
    • Toxic Productivity
    • Finding Your Balance
    • Giving Up
    • YOLO?
    • Are grades important
    • Danger of Quotes
    • How to Destress
  • About us