In this article we will discuss about the corporate philosophy and corporate objectives of a company. Corporate Philosophy: A particular Gas company, in addition to its statement of overall objectives, states the following "principles for guiding its action: Investors: The company will provide for its stock a ready, convenient, and technically sound market to ensure optimum flexibility for its owners. [...]
The following points highlight the eight major areas in which businesses should set objectives identified by Peter Drucker. Also we will learn about the need for balancing these multiple objectives. Area # 1. Market Standing: A business must set objectives concerning what share of the market it will try to capture. The best market share requires careful analysis of: (i) [...]
Some of the frequently asked exam questions on corporate philosophy and objectives of a company are as follows: Q.1. Who formulates an enterprise’s objectives? Ans. All organisations have objectives, at least at one point in time. Enterprise objectives are the goals the enterprise seeks to accomplish through its operations. Once a manager realises the importance of achieving some results, he [...]