logo

Strategic business objectives can be defined

   

Added on  2022-10-04

15 Pages5152 Words15 Views
Leadership ManagementProfessional DevelopmentData Science and Big Data
 | 
 | 
 | 
T1: Business Objectives
1.1
Strategic business objectives can be defined as specific financial
and non- financial objectives and outcomes a company focuses to achieve
over a given time span, which generally extend from next three to five
years (Alkhafaji & Nelson, 2013). My Food Bag is a meal kit home delivery
service providing company based in New Zealand, providing its customers
with recipes and necessary ingredients to cook different kinds of meals
preferred by the customers. My Food Bag is a private ownership and
operated company. The company was founded in the year 2012. My Food
Bag is an innovative concept of business which is experimental and
creative in its approach. The company is based on the philosophy of “nude
food”, or organic way of cooking food, which has been popular among the
contemporary cosmopolitan population of New Zealand (MyFoodBag,
2019).
Increasing sales turnover
Specific: To increase the sales turnover by 12% by meeting
customer expectation with unique and excellent customer satisfaction
service.
Measurable: Annual turnover of the company is $150 million NZD
known from its annual reports(NZHerald, 2018). Therefore, the target of
increasing sales turnover by 12% is appropriate as the data given are
appropriate.
Achievable: Convenient, innovative and selectively affordable.
Reliable: Cases of high customer satisfaction in history, appreciation
of the company’s uniqueness and popularity among the masses.
Time bound: Approximately 5 years to meet the target.
Enhancing customer engagement (for market expansion)
Specific: To enhance customer engagement through best
communication techniques andmedia experts.
Measurable: Annual report of the company shares its expenditure
and revenue whichshows it is reliable to go for customer engagement for
market expansion.
Strategic business objectives can be defined_1

Achievable: Premium customer optimization methods, excellent
external communication skills and customer relationship management
Reliable: Premium customer satisfaction cases with the help of
excellent communication and ventilation ways.
Time bound: Approximately 8 months.
1.2
NZ Green Building Council is a non- profit organization based in
Auckland, New Zealand. The vision and mission of the company is to
provide healthy, efficient and productive buildings in a sustainable
building environment to the New Zealanders so that they are able to live
harmoniously with the nature(nzgbc, 2019).The company was established
in the year 2005 and in the year 2006, the company became one of the
members of World Green Building Council. The World Green Building
Council is an international non- profit organization that aims to move the
global property industry and built environment towards sustainability, with
Green Building Councils being established in various countries around the
world. The organization is also a member of the Construction Industry
Council.
Market expansion through partnership strategy
Specific: To incorporate partnership strategy for market expansion
of the organization.
Measurable: Annual report of the organization depicts total revenue
$1,903,568 and expenditure $1,923,908, suggesting the position of the
organization and the need for
partnership to grow its funds(Nzgbc, 2016).
Achievable: Working at national and regional level for the benefit of
the society and environment, dedicated social non- profit organization
having expertise in conservationism and environmental protection.
Reliable: History of reputation and goodwill. According to the Annual
reports, its proved that the organization enjoys recognition and greater
participation of volunteers
Time bound: Approximately 2-3 years
Strategic business objectives can be defined_2

T2: Operations Management
2.1
The operation management involves the process of planning,
organising, supervising the processes and making needed improvements
for the higher profitability. The adjustments in everyday operations need
to support the strategic goals of the companies so they are preceded by
the deeper analysis as well as the measurement of the current processes
(Slack & Brandon-jones, 2019).
The operation management is based on the implementation of the
strategies which in most of the cases are dependent on the forecasting
methods, that has a significant
impact on the increasing sales turnover
objective. This involves determination of the possible future results for the
business. The planning for the possibleoutcomes in the futureis the
responsibility of the operation managers. This ability of forecasting related
to the demands and sales determine how the company will achieve the
sales turnover in the future. The operation managers forecast the results
on the basis their ability to create, develop, production and distribution of
the products for the organizations (Botha et al., 2016). In this regard,
different companies use different forecasting modelto assess theresults
for the company.
For example, the availability of dataand the situation of
the industry in which the company is operating are the factors which the
operation managers analyse for forecasting.The valuable information
regarding the internal and external analysis of the companies guide the
managersto forecast the next move. Based on these valuable data, the
OM decides the path of the company. In many case, the judgement of the
experts based on the qualitative dataregulate the movement and
decisions of the company.
The principle of change is one of the most important principle of
operation management because this enables the company to gain
competitive advantage in any situation that
help in enhancing customer
engagement objective. The company keeps on facing different types of
environmentswhich either support their growth of curtail the scope or
opportunities. This is the reason why the company policies need to be
Strategic business objectives can be defined_3

changed all time and the organizationalculture must be adaptive of any
kind of change. The operation management helps the company in
embracing change and gain leverage in the competitivescenario
(Wakeman& Langham 2018).The operation managementgrants change to
be inevitable due to changing business situations and blows can be
coming from any direction. Through changing the policies, the companies
canexplore its capabilities and efficiencies every time which make them
adaptable with changing condition.
2.2
It is important to have the proper and effective operational practices
in place in order to enhance the business performance. In the previous
question, it is identified that
the key strategic objectives of My Food Bag
will be to expand their business in new market and to increase the level of
customer satisfaction. Both these will help My Food Bag to enhance their
performance in the long term. However, on the other hand, it should also
be noted that operational practices to be implemented should be suitable
in terms of the organizational context of My Food Bag. In terms of
achieving the global market presence, a few steps should be followed in
initiating the information management system (Galliers & Sutherland,
2013)
Information management
The first step will involve the gathering of information and raw data
from the sources and these sources will include both internal and external
stakeholders and factors. The next step will involve collection of the data
from the targeted market regarding the major challenges and
opportunities (Drnevich & Croson, 2013). Then analysis of the collected
data in more filtered form that will be valuable for the organizational
management. Furthermore, the feedback and opinion of the involved
stakeholders regarding the communicated market situation should be
considered
in order to meet the sales turnover within the time frame
provided(Reich & Benbasat, 2013). Information management can also
facilitate in recognizing the non-performing areas within the organization
Strategic business objectives can be defined_4

End of preview

Want to access all the pages? Upload your documents or become a member.