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Business Goals and Objectives Overview

The document outlines the short-term and long-term goals and objectives of a proposed business project. Short-term goals include increasing sales by 3%, developing new products, and improving customer service within 6 months, while long-term goals focus on reducing production costs, opening new branches, and establishing a company-owned farm over the next few years. Additionally, it emphasizes employee development and maintaining scholarship programs for employees' children.

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Josh Bustamante
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5 views2 pages

Business Goals and Objectives Overview

The document outlines the short-term and long-term goals and objectives of a proposed business project. Short-term goals include increasing sales by 3%, developing new products, and improving customer service within 6 months, while long-term goals focus on reducing production costs, opening new branches, and establishing a company-owned farm over the next few years. Additionally, it emphasizes employee development and maintaining scholarship programs for employees' children.

Uploaded by

Josh Bustamante
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Goals and Objectives of the Business

This section states the following general and specific goals and objectives of

the proposed project.

Short-term:

1. Increase sales by 3% in the next 6 months.

2. Develop 2 new products after 9 months.

3. Improve customer service in the next 6 months.

4. Weekly posting of ads and campaigns via use of social and print media

platforms.

5. In relation to number 4 mentioned above, the need to hire 1 managed

service or manager to run the ads and campaigns for the business.

6. Conduct training programs and seminars every month for development

progress of employees’ subject to company’s success of workforce.

7. Schedule for quarterly awarding of employee appreciation.

8. Open a new branch in Bayombong after a year

9. Hire officers comprising of 1 business development manager, 1

product manager and 1 Marketing Staff.

10. In the next 6 months, improved employee turnover rate.

Long-term:

1. Reduce production cost by 6% over the next 3 years.

2. Open five new branches in the next 3 years outside Nueva Vizcaya.

3. After 2 years, establish a company-owned pineapple farm.


4. Maintain scholarship programs for 50 children of full-time employees.

5. Achieve 80% positive customer feedback over the next 2 years.

Common questions

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Establishing a company-owned pineapple farm could potentially reduce supply costs and stabilize raw material prices, thus contributing to the long-term goal of reducing production costs by 6% over the next three years. However, initial investment costs and operational challenges may temporarily offset these savings .

Monthly training programs are crucial for enhancing employee skills, which directly impacts service quality and innovation. Improved skills can lead to enhanced customer service, aiding in short-term goals like increasing sales and reducing employee turnover. Long-term, a skilled workforce can drive cost efficiencies and support expansion initiatives through more competent management and operational practices .

Achieving 80% positive customer feedback is critical as it reflects customer satisfaction and loyalty, important for maintaining and increasing sales, enhancing brand reputation, and supporting long-term growth through expanded customer base and market influence .

Strategic actions include market analysis to identify growth opportunities, resource allocation for infrastructure and staffing, establishing supply chains, and branding efforts to build new customer bases. Effective management and operational frameworks must be set to ensure sustainable branch operations .

Benefits include enhanced employee loyalty and morale, improved company image, and social goodwill. Potential drawbacks might be the financial burden on the company's resources and administrative challenges in managing the program while ensuring equity and accessibility for all eligible employees .

Opening a new branch in Bayombong can increase market reach, contributing to the short-term goal of increasing sales and the longer-term goal of opening additional branches outside Nueva Vizcaya. It can also create new job opportunities, supporting goals related to employee growth and development .

Potential challenges include market saturation, increased competition, and changes in consumer behavior. The business must effectively utilize marketing strategies and product innovation to capture attention and drive sales, considering strong market competitors and fluctuating demand .

Quarterly employee appreciation awards can enhance job satisfaction and morale, leading to higher employee retention. By recognizing and valuing employees' contributions, the company can strengthen loyalty and engagement, which is likely to reduce turnover rates in the short term .

The company plans to hire a business development manager, a product manager, and a marketing staff. These roles align with goals to innovate products, improve market strategies, and drive business growth, essential for achieving sales and expansion objectives .

Weekly ads and campaigns enhance brand visibility and customer engagement, which can drive sales and promote new products, addressing short-term objectives such as increased sales and improved customer service. These activities can also support hiring needs by highlighting brand values and culture .

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