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1.3 Business Objectives (IB BM)

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13 views

1.3 Business Objectives (IB BM)

Uploaded by

alhawaj.a.amina
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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1.

3 Organisational
Objectives

IB Business Management

L1
Starter:
What is your aim in life?
Why have you placed this aim for yourself?

IB Learner Profile: #Reflective 3 mins


Learning Objectives
Explain what mission and vision statements mean in a business context

Apply and Analyse business objectives


Introduction
All businesses benefit from having clear objectives.
In small businesses (sole traders), usually these are not formalised.

In partnerships, partners must agree on their objectives to avoid future conflicts

In limited companies, they must formalise it in written form.

Mini Activity: You have 2 minutes to research the mission and vision statement of an
international company.

What do you think is the difference between mission and vision statements?
What is the link between mission + vision statements and
strategies?

Vision and mission statements give the organisation a sense of


purpose and can prevent it from drifting away from their aims in
the event of major circumstances.
IB Learner Profile: #Caring #Open-Minded #Thinkers

Scenario
You have a social enterprise that manufactures and sells furniture made from
recycled materials. You attempt to have “zero waste”, to remain environmentally
friendly.

Your mission statement is to “use business to improve lives”.

Your vision statement is to “To be a standard in the market for all the admired
and favored brands in our sphere of activity. Get recognized as the best
company for our products. To give the best service on all our products to our
customers. To deliver all the resources to all the communities they need.”

You have recently had a surge in orders and have to recruit 50 new employees.

How can the mission statement be used to help with the recruitment
process?
What does it mean to
be ethical? Why should
businesses strive to be
ethical?

IB Leaner Profile: #Thinkers #Principled #Caring


Learning Objectives
Analyse strategic and tactical objectives

Evaluate corporate social responsibility (CSR)

Business Management Toolkit: SWOT Analysis


Introducing SWOT Analysis

- Is a simple but effective organiser that


focuses on four key issues:
Strengths, Weaknesses, Opportunities and
Threats

- Helps to assess future planning and


strategies and any constraints or issues
that might happen

- However, SWOT alone is not enough to


develop complete strategies, but is an
excellent starting point
Example of SWOT Analysis
Examples of CSR
- Food manufacturers providing accurate information and labelling.
- Adhering to fair employment practices.
- Having considerations to the environment (Recycling, zero waste, etc.)
- Active community involvement such as sponsoring and participating in
local community events.
#Reflective #Thinkers

TOKxBusinessManagement

Does the business’ intention matter when


it comes to implementing CSR?
Is it still ethical if their intention is simply
to increase their profit?
References
Borrington, K., & Stimpson, P. (2018). Cambridge IGCSE and O Level Business Studies. Hodder Education.

Smith, A., & Stimpson, P. (2015). Business Management for the IB diploma coursebook. Cambridge University Press.

Hoang, P. (2022). Business Management Fifth Edition (5th ed.). IBID Press.

www.thinkib.net/businessmanagement - Website by Paul Hoang

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