Strategic goals and objectives involve a twin accomplishment: accomplish strategy formulation and strategy implementation in order to accomplish a connection between the firm and its environment. This is why strategy content, environmental scanning and corporate social responsibility. The manager must decide who are his good competitors and who are his bad competitors in the specific industry circumstances in which he competes. A key part of this policy-making process is the skill at predicting what his competitors are doing. Prediction is a vital practice because competitors, both good and bad, are not standing still. Management has a continuing and virtually inexhaustible obligation to its shareholders to increase the residual value of the corporation, rather than to increase the wealth of any other group of stakeholders, and that is the fundamental difference between the claims of other stakeholders and the claims of the shareholders to the board's decisions. Management's duty to the other stakeholders is finite, defined by contract, the law of torts, or governmental rules, and needs simply to be satisfied (Campbell 1997). Corporate goals and objectives are closely connected with organizational development embracing a wide range of intervention strategies into the social processes of an organization and involve the application of organizational behavior.
Questions for discussion and training exercise:
1. Examine goals and objectives of each company. Name advantages and disadvantages of these strategies.
2. Image you are a CEO of the company. How can you restate corporate goals and objectives identified by three companies Why do you make these changes
3. Your task is to plan organizational performance according to goals and objectives.
(a) Is it easy to plan organizational development strategies using these goals and objectives Explain.
(b) Identify the main areas of growth and development using companies' corporate goals and objectives.
Three organizations selected for analysis are the Alaska Railroad, HP and Nestle. These companies were selected for analysis because the yare global leaders in their industries operating of the global scale. Question: What do you know about these companies Can you identify the main similarities and differences between these giants
Nestle, a leader in food industry, has the following corporate goals and objectives: " Nestl's corporate objective is to be the world's largest and best branded food manufacturer, whilst ensuring that the Nestl name is synonymous with products of the highest quality" (Nestle Corporate Objectives 2007)