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Understanding the Organisational Purposes of Businesses

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Introduction

In this Unit, I have to understand the organisational purposes of businesses by identifying the purposes of different types of organisation, describing the extent to which an organisation meets the objectives of different stakeholders and explaining the responsibilities of an organisation and strategies employed to meet them.

Identify the purposes of different types of organisation

It is necessary for an organisation that, before it devises its strategy, it must know where it is going and in what direction to move to pursue such aims. J Thompson (1990) describes the mission statement of a company as defining the primary purpose of the organisation, what business it is in and, whom the company is seeking to serve and satisfy. Therefore, the organisation activities should revolve around the mission statement. Many companies, in order to remind employees about their roles and what is being pursued, they have mission statements on the wall. Furthermore, Vision builds up on the Mission Statement, that is, what the organisation aims to grow in the future. Richard Koch (1997) defines vision as a long-term target of how the organisation be shaped in the future and what it could become. Additionally, he clearly differentiates the mission, that is the company’s role and nature and; the vision, that is, what the company could turn into the future. To maintain focus on the direction needed and to have success, aims are necessary for the organisation. These aims can include profit, market share and development and return on capital employed. So, in order to be able to meet the desired aims, objectives have to be set (Adapted from Dransfield et al).

Management by Objectives was a system introduced by Peter Drucker (1954), where employees’ objectives are aligned with the organisation’s goals. Having people know how their contribution towards the...

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