Business aims, objectives, and values
A Michelin case study

Page 0: Introduction

Within every organisation, the people who run and/or own it will have aims and ambitions for the organisation and themselves. Large organisations in particular set down (for all to see) what they aim to do and how they aim to do it. This addresses two broad audiences. One is everybody who has a stake of some sort in the business, including employees. When employees understand and appreciate what...
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Page 1: Aims and objectives

Aims and objectives are the 'ends' that an organisation seeks to achieve. It then has to decide the means it will use to achieve those ends, draw up a plan and devise a strategy. Most organisations have general or overall aims which they can break down into specific objectives, or targets. By setting aims and objectives, companies give themselves a sense of purpose and direction. This...
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Page 2: Michelin Values

Every organisation benefits from establishing a set of values that encapsulate its basic principles and beliefs. These values shape relationships within the organisation and also between the organisation and the various groups and individuals that the organisation meets. The development of the Michelin Group is based on five values: respect for Customers respect for People respect for...
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Page 3: Stakeholders

Obvious examples of Michelin stakeholders are its customers and its shareholders. There are, however, others.  Michelin's values are stakeholder led and actions carried out by the company and its people are based on respect for these stakeholders.
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Page 4: Meeting stakeholders' needs

Michelin looks to combine high levels of performance with responsibility for all stakeholder groupings. The company recognises that its long-term development depends on maintaining a balance between the needs of customers, employees, shareholders and the environment. This involves not only considering the 'individual benefit' of a particular stakeholder grouping, but also the 'collective...
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Page 5: Conclusion

Michelin's mission is to progress and advance mobility. Its innovative 'Performance and Responsibility' approach continues to play a leading part in new developments in tyres, maps, guides and many other services that are concerned with mobility. This purpose relates to every aspect of the business and is driven by values which emphasise respect for the different stakeholder groupings. Michelin...
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