Operational Objectives
Organizations improve profits through enhancing their margins (Mosley et al., 34). David Jones Limited will utilize operational objectives aimed at decreasing manufacturing or overhead costs. The below are the operational objectives that the company plans to attain:
- Establish additional production machines that are more environmental friendly beginning from the financial year 2015 with a projected cost of $300,000.
- Cooperate and work with community members to get access to the used environmentally-friendly raw materials such as used organic leather, cotton, and wool.
- Improve scheduling by reducing labor costs.
- Improve the overall production through raising the quality and decreasing costs. The improved quality will assist in enhancing sales and strengthening the company’s brand.
- Upgrade the company’s online sales capabilities by optimizing a checkout process and shopping cart.
- For one, we intend to lay down the project plan and discuss it in details with the planning team as well as outline the project concept.
- Review the budget and the project guidelines on a regular basis.
- Organize meetings with the community organizations and the local communities to educate them on the need to conserve the environment.
- Reduce turnover, avoid overtime, and reduce the utilization of more expensive contract labor.
- Put in place methods that will make it simpler for our clients to buy online as well as share information regarding the company at the finest probable costs.
The following will be the benchmarks for measuring the success of the above activities in the attainment of the company’s operational objectives.
- Carrying out financial analyses on a monthly basis and comparing the outcomes in an attempt to assess the overall productivity and competitiveness of the company.
- Observing the way other companies in the same line of production compete.
- Assess the company’s competitive position through comparing our services and products with those of target companies.
- Studying the giant companies in the clothing industry.
The benefits that will result after the attainment of the operational objectives include:
- Increase in productivity and profit as a result of the reduction in overhead or manufacturing costs.
- Improvement in the brand name
- Improved competitiveness
Marketing Objectives
Marketing is indispensable for the businesses that desire to increase awareness about their services or products (Simmons, Carolyn, and Karen 161). Marketing objectives entail the strategies that organizations establish to attain their overall objectives. The marketing objectives of David Jones Limited include the following:
- Increase the sales among all the categories of our clients by more than 20% by the end of 2016.
- Improve the company’s awareness.
- Make the company’s brand be recognized throughout the world by 2015.
- Diversify the range of our products by the end of 2018.
In order to attain the aforementioned marketing objectives, the following activities will be executed:
- Plan for a meeting with the company’s shareholders and pass all the information about the marketing strategies that the company intends to employ.
- Prepare a detailed report to ensure that all the shareholders understand the benefits of being associated with the company.
- Design campaigns for the general public to inform them about the existence of our brand.
- Liaise with the media and determine for the release of the adverts, billboards, and newspaper for the awareness of the company.
The outcomes of the above activities will accrue the following benefits:
- Increase the company’s brand awareness and attract additional customers as well as boost their confidence towards the company.
- Improve the relationship between the community members and the company.
- Increase the company’s sales and profits.
Financial Objectives
The below financial objectives will be imperative in offering the company a solid plan for operating in the long-term success direction.
- Increase revenue by 30 percent every year.
- Increase monthly profits by 5 percent.
- Keep the company’s income levels consistent.
- Collect on all the outstanding debts.
- Keep the current levels of profit and revenue from dropping any further in the decline stage of the company’s brand life cycle.
The below measures will be utilized to ensure the financial objectives are attained within the stipulated time frame:
- Review the budget constantly to monitor its progress.
- Check on the expenditure and identify unanticipated costs.
- Observe the unexpected issues that may arise and affect the budget and adjust them accordingly.
- Compare the actual figures and the projected ones to see whether there is any deviation.
- Adjustment of any deviations that may exist between the actual figures and the projected figures in case they occur.
The outcomes of the above activities include the following:
- Overall increase in revenues and profits
- Increase the company’s competitiveness.
Corporate Social Responsibility
Corporate social responsibility for the organizations entail their responsibilities for the impacts of their activities as well as decisions on own prosperity, society, and the environment (Moir 16). Therefore, David Jones Company will be responsible for our decisions and activities impacts on the environment, society, and own prosperity. The corporate social responsibility objectives of the company include:
- Promote its CSR strategy actively to make sure that it is entrenched within the business.
- Work extra hard to minimize our impact on the environment
- Contribute actively to various local and national charities.
- Enhance the satisfaction among the employees
- Persist on encouraging our employees to create new ideas, which will essentially add value to the clients and our business.
- Ensure the well-being, safety, and health of our clients and workers.
- Improve an organization’s intellectual capital through employee training and development.
The measures that have been established to realize the above corporate social responsibility objectives include:
- Supervising all objectives to make sure that they will be realized in the long-run
- Segregation of work and duties in all the aspects and levels of the organization to enhance uniformity and quality results
- Report the targets and updating them frequently
Stakeholders’ Analysis
Managing the organization entails dealing with various stakeholders, some of which are more crucial than the others. In categorizing the stakeholders involved, the company uses the power/Interest grid. The stakeholders are categories with ascending power and interest in the project (Bryson 44). Essentially, the grid will aid to focus on the major stakeholders in a position to help the organization succeed or fail. The tool will enable us to prioritize the project stakeholders. The grid will help identify the potential risks that are likely to be encountered in the course of implementing the project. It is similarly significant to note that the proper measures are in place to help avoid the anticipated risks. The power/Interest matrix first lists all the stakeholders and then evaluates their strengths and prioritizes them. The matrix then determines the available resources, makes the decision on how to engage, and finally does consultation and feedback.
Works Cited
Bryson, John M. "What to do when stakeholders matter: stakeholder identification and analysis techniques." Public management review 6.1 (2004): 21-53.
Moir, Lance. "What do we mean by corporate social responsibility?" Corporate governance 1.2 (2001): 16-22.
Mosley, Hugh, Holger Schütz, and Nicole Breyer. "Operational objectives and performance indicators in European public employment services."Wissenschaftszentrum Berlin für Sozialforschung (Research Unit Labour Market Policy and Employment), Berlin (2000).
Simmons, Carolyn J., and Karen L. Becker-Olsen. "Achieving marketing objectives through social sponsorships." Journal of Marketing 70.4 (2006): 154-169.
