https://padlet.com/alcivar28/vh3lqvrsgoupigco Business LA7 Unit 1 en-us 2022-05-31 16:38:51 UTC 2022-07-08 17:22:19 UTC hello@padlet.com alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2206367142 I don't have any specific goals, but I hope I can get good grades during this school year. For the next 5 years, I plan to go to the university and pursue an engineering-related career.]]> 2022-05-31 16:46:08 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2206367142 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2206370293 Optimistic and inspiring declaration that defines the purpose and values of an organization and where it wants to be in the future. ]]> 2022-05-31 16:48:39 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2206370293 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2206374775 Clear and concise declaration of an organization's fundamental purpose, i.e. a succint description of what an organization does, in order to become what it wants to be. ]]> 2022-05-31 16:52:13 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2206374775 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2206376683 A mission statement defines a company's goals and explains how it will achieve those goals. Whereas, a vision statement describes the desired future position of the company.]]> 2022-05-31 16:53:51 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2206376683 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2206381243 -They quickly inform external stakeholders what the central aim is.
-They help to motivate employees.]]> 2022-05-31 16:57:42 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2206381243 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2206388790 Microsoft's Mission Statement is “To empower every person and every organization on the planet to achieve more.” What I understand from this mission statement is that it shows that the organization is about empowering people, and this is achieved through the utility of the company's technology products.]]> 2022-05-31 17:03:35 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2206388790 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207482949 Aims serve to give a general purpose and direction for an organization. While, objectives are the stated measurable targets of how to achieve business aims. ]]> 2022-06-01 13:01:34 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207482949 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207486566 S: Specific
M: Measurable
A: Achievable
R: Relevant
T: Time Specific]]> 2022-06-01 13:04:05 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207486566 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207492828 Vision: Long-term and highest aspiration.
Strategic Objectives: Long-term goals. Referred as global objectives. Set by senior managers.
Tactical Objectives: Medium or short-term goals. Set by middle managers.
Operational Objectives: Day-to-day goals. Set by floor managers. ]]> 2022-06-01 13:09:19 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207492828 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207502004 Vision: Go live in Canada and work as an Engineering Manager.
Strategic Objectives: Finish my studies at the university and at the same time gain work experience in a part-time job.
Tactical Objectives: Graduate from school and decide which branch of engineering to choose and which university I want to go to.
Operational Objectives: Study and get good grades in my school activities.]]> 2022-06-01 13:16:18 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207502004 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207510381 Aims state what an organization wants.
Objectives state what an organization needs to achieve in order to get what it wants.
Strategies are the actions that facilitates an organization to meet it's goals.
Tactics are short-term actions used to achieve an organization's tactical objectives.]]> 2022-06-01 13:22:15 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207510381 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207514000

Survival

Profit maximization 

Customer Loyalty

Diversification

Greater market share

Ethical business practices

Improved quality and efficiency

Growth (Internal and external)

Improved competitiveness

Being socially responsible 

]]> 2022-06-01 13:24:41 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207514000 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207518863 Internal

• Risk profile
• Crisis management
• Finance
• Corporate Culture

External

• New technologies
• State of the economy
• Government constraints
• Pressure and power of pressure groups

]]> 2022-06-01 13:27:39 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207518863 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207523107 What's meant by SMART Objectives?
A SMART objectives are the ones that are Specific, Measurable, Achievable, Relevant, and Time-specific.

What's the difference between strategies and tactics?
Strategies are long term goals.  They help to facilitate an organization to meet it's goals. While, tactics are medium or short term goals, that are used to achieve an organization's tactical objectives.

What's one common aim of an organization?
One common aim of an organization is the profit maximization. 

]]> 2022-06-01 13:31:06 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2207523107 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2209181888 2022-06-02 16:24:31 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2209181888 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2212876085 It's an useful decision-making tool used to evaluate the current and future situation of a product, brand, business, proposal or decision. 

S (Strengths): What do you do better than your competitors?
W (Weaknesses): Where do you need to improve?
O (Opportunities): What're your chances in the future?
T (Threats): What obstacles do you face?]]> 2022-06-07 01:33:36 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2212876085 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2212891914 We use the Ansoff matrix to see how a business could identify a number of different strategies to pursue further growth:

• Market Penetration: It focuses on using strategies to increase the usage rate of existing customers.
• Market Development: It focuses on using customer loyalty to persuade them to buy a new product.
• Product Development: It focuses on product differentiation in order to remain competitive or to improve its competitiveness.
• Diversification: It focuses on high-risk growth as the organization enters a market in which it has no experience or knowledge.

]]> 2022-06-07 01:47:00 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2212891914 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2213897066 2022-06-07 17:20:09 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2213897066 alcivar28 https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2215020518 2022-06-08 13:48:58 UTC https://padlet.com/alcivar28/vh3lqvrsgoupigco/wish/2215020518