We will achieve this through effective leadership of well trained and motivated staff, and efficient and vigorous management of all other resources.”
This is the mission statement adapted from
To be able to get an overall direction business need to set objectives to understand their next step to achieve success. When a company looks to set, objectives they need to first know what they want to achieve and understand why it is important to the company. The objectives, which are the successful ones, are the ones that are clear, measurable, and quantifiable and most importantly objectives that can be met.
Because all companies operate in a different way, each business sets their own personal objectives. The main construction is a formula called SMART. This is the explanation
- SPECIFIC (to the point and are able to be understood)
- MEASURABLE (have the potential)
- ACHIEVABLE (can reach it)
- REALISTIC (is not unreachable)
- TIMED (have enough time to achieve it)
Each business sets the simple targets
- Obtain profits (to be able to expand themselves as a brand)
- Increasing sales on market share (increase income)
- Surviving (every business has competitors, survival of the fittest)
- Providing services to the community (they are the source of the business)
- Offering charitable or non profit services, such as caring for the community (this helps them expand themselves)
- Developing staff skills (more affiancing the staff the more the customers)
- Producing high quality products of offering high quality service (increase in customers)
Besides, the business setting their own objectives there are individuals, or even groups involved, they are known as the stakeholders. They also have an important part to play when coming to setting objectives. Individuals, groups or organisations are affected by what an organisation does. They have a stake or interest in the decision that the organisation takes.
The stakeholder Concept
The ultimate business success is treating the stakeholders like customers this is the key to having a successful relationship as the modern organisations have recognised. The main people who have a choice on whom they please to do their business with are the suppliers and the financers. They are more likely to offer best terms to organisations that have strong public image.
- The local community
- Creditors
- The environment
- Society
- Special Interest GRPS
- Owners
- Distributors
- Government
- Suppliers
- Customers
- Employees
This is whom the organisation is built up of.
The purposes of a business are listed by the businesses and organisation. The statement shows the corporate/organisation mission values and vision. This is usually expressed to the internal and external audiences. A business will split these aims and objectives up, becoming hierarchy of aims and objectives:
Mission Statements
Corporate aim
Corporate objectives
Divisional or departmental objectives
To motivate the employees it is important to have mission statements, this has affects like the customers and staffs are loyal to the business.
London Luton Airports Objectives
London Luton Airport is also a very big organisation, which has to keep mission statements and objectives for them achieve. Their objectives were:
- Increase its EBITDA year on year (earnings before interest, tax, depreciation and amortisation)
- To control its costs using other airports as a benchmark, i.e. Belfast, Cardiff
- To achieve 25% growth year on year
- To increase its passenger numbers year on year up to its total capacity of 20million passengers per year (passenger numbers for 2003 were approx.7m)
- To maintain a balance between the Airport and the community
London Luton Airport as an organisation set these objectives out and used the SMART method.
The reason to why these are London Luton Airport’s is because of their customers. Each objective is to lead to customer’s satisfaction. They want to grow and expand premises wise and customers wise.
