Different Business Objectives of Different Company in Bangladesh
Essay by rafidhassan • January 20, 2018 • Essay • 930 Words (4 Pages) • 939 Views
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Business objectives are the ends that an organisation sets out to achieve. A business creates business plans to enable it to achieve these ends - thus plans are the means to the ends. The objectives and plans that an organisation creates are determined by balancing the requirements of the various stakeholders in the organisation. In order to grow and sustain business entrepreneurs are concerned with every aspect of the following business and need to have clear goals in mind for the company. Having a comprehensive list of business objectives creates the guidelines that become the foundation for the business planning. The buzz factors in different business objectives are –
- Profitability
- Productivity
- Customer service
- Employee retention
- Core values
- Growth
- Maintaining financing and pay systems
- Change management
- Marketing
- Competitive analysis
All these business factors are driven through the adopted Policies, Techniques and Clear objective of the organization, Which are usually achieved through internal or external alignment, competitiveness, contributions and management of the total organization. Along with these, organization also have to practice efficiency, fairness, ethics and compliance to achieve its desired goals.
Different business organization might have different policies , techniques , and objective which fits to their structure of the organization to achieve the competitive advantages and to gain the highest market share. According to the organization structure and culture the focus of the organization might differ , some may put importance on innovation , some put emphasis on cost cutting strategy or it might be on customer based activates. The co-ordination and communication of different strategies and in different departments must be ensured to exert the best performance of the work force.
Different business objectives of different company in Bangladesh
For this particular assignment I have to choose 3 Different companies of Bangladesh who are now operating their businesses globally. They are –
- Union Group,
- Dutch Bangla bank,
- Berger paints BD ltd.
Union Group | Dutch bangla bank | Berger paints bd ltd. | |
Objectives | 1.Umbrella(multifaceted) Business operation 2. Emphasis on innovation 3. Nurture and promote good ideas and growth 4. Attract and reward the best 5. Recognize contributions. | 1. Build up a low cost fund base 2. Make sound banking activities 3. Ensuring superior workforce 4. Focus on customer demand 5. Adopt up to date technology. | 1. Focus on customer 2. Emphasis on innovation , R&D
3.Providing suitable, broad price list
5. Gain the highest market share. |
Union Group | Dutch bangla bank | Berger paints bd ltd. | |
Mission | To satisfy customers and stakeholders through innovative solutions and services by being customer focused, market oriented and process-centered organization.
| Dutch-Bangla Bank engineers enterprise and creativity in business and industry with a commitment to social responsibility. "Profits alone" do not hold a central focus in the Bank's operation; because "man does not live by bread and butter alone". | To increase the turnover by 100 % in the next five years being socially committed ethical company. |
Union Group | Dutch bangla bank | Berger paints bd ltd. | |
Vision | The Group’s philosophy is simple and is well illustrated in its slogan—delivering the Best. And to fulfil the idea of delivering the best is has policies and procedures in place so that everyone knows what to do and how to perform to the best to their abilities. Their vision is to be the number one company in Bangladesh within a decade. | Dutch-Bangla Bank dreams of better Bangladesh, where arts and letters, sports and athletics, music and entertainment, science and education, health and hygiene, clean and pollution free environment and above all a society based on morality and ethics make all our lives worth living. Dutch bangla bank also value creativity toward human development. | The vision of the company is to remain as the benchmark in the Paint industry being an innovative and technology driven Company consistently delivering world-class products ensuring best consumer satisfaction through continuous value added services provided by highly professional and committed team. |
Union Group | Dutch bangla bank | Berger paints bd ltd. | |
Internal alignment | 1. Minimize hierarchy 2. Job responsibility based hierarchy 3. Prefers skills , knowledge and experiences. | 1. Job responsibility based hierarchy 2. Support promotional growth | 1. Committee based hierarchy
2. Reflects job responsibility too. |
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