Business aims objectives and values

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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 provides a framework around which to create their plans. With an overall plan in place, a company can set particular targets and monitor its progress towards reaching them. Targets can vary from a sales target and/or a profits target to a zero-accident target. Having a sense of direction and a coherent, overall plan is particularly important to a global organisation like Michelin, which produces many different product lines worldwide. One major challenge is to communicate the plan clearly to everyone in a form that they can understand and put into practice. In 2002, the Michelin Group, at the initiative of its Managing Partners, Edouard Michelin and René Zingraff, launched the ‘Michelin Performance and Responsibility’ approach. Based on the Group’s traditional five values, it established a formal framework for the Group’s day-to-day…

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