Discussion: Provide An Example Of A Well-Written Business Ob

Discussionprovide An Example Of A Well Worded Businessobjective And

Provide an example of a well-worded business objective, and a poorly worded business objective. Why is one better than the other? Explain your rationale. For a second comment, revise either your poorly worded objective or the poorly worded objective posted by someone else. Explain why your revision is now a properly worded objective.

Paper For Above instruction

A well-worded business objective succinctly articulates the specific aims an organization seeks to accomplish, typically incorporating clear targets, measurable criteria, and a defined timeline. For example, "Increase monthly online sales revenue by 15% within the next six months through targeted digital marketing campaigns" exemplifies a precise, measurable, and timely objective. Conversely, a poorly worded objective such as "Improve sales" lacks specificity, measurability, and a clear timeframe, making it difficult to assess progress or success. The well-crafted objective guides strategic focus, aligns team efforts, and facilitates performance evaluation, making it more effective for organizational planning and accountability. The vague objective fails to provide direction or measurable indicators, which can lead to misaligned efforts and ambiguous outcomes. Thus, clarity, specificity, and measurability underpin the superiority of a well-worded business objective.

Additional Revision of a Business Objective

Suppose the original poorly worded objective was, "Increase sales." A revised version could be, "Achieve a 20% increase in product sales revenue in the North American market over the next twelve months by implementing targeted marketing strategies and expanding distribution channels." This revision specifies the percentage increase, the target market, the timeframe, and the means of achievement, transforming a vague goal into a clear, measurable, and actionable objective. Such precision enhances strategic focus, enables progress tracking, and provides clarity to the team, ultimately contributing to better organizational performance.

Analysis of a Business Strategy, Mission, and Organizational Structure

For the purposes of this project, I have selected Amazon as the company for analysis. Amazon is a global e-commerce giant that offers a vast array of products and services, ranging from retail goods, digital content, cloud computing, and logistics solutions. Founded in 1994 by Jeff Bezos, Amazon initially started as an online bookstore before diversifying into numerous markets, becoming one of the most valuable companies globally. Amazon’s mission is "to be Earth's most customer-centric company," emphasizing customer satisfaction and convenience, while its strategy focuses on broadening its product portfolio, expanding infrastructure, and utilizing technology to streamline operations. Its organizational structure is primarily hierarchical but incorporates a matrix approach that promotes agility and innovation.

The company's strategy reflects a commitment to customer-centricity, innovation, and operational excellence. The mission underscores a focus on customer satisfaction as a core driver of business decisions. The organizational structure supports rapid decision-making and flexibility, which is vital in the dynamic e-commerce sector. Positively, Amazon’s strategy facilitates extensive market penetration, diversified revenue streams, and technological leadership. Its organizational structure fosters innovation, allows for quick adaptation, and enhances operational efficiency.

Amazon’s short-term goals include expanding product categories, increasing Prime memberships, and enhancing logistics capabilities. Long-term strategic aims encompass global expansion, advancing artificial intelligence integration, and sustainability initiatives. Areas for improvement could involve refining organizational communication to reduce redundancies and streamline decision-making further. Additionally, aligning organizational culture more explicitly with sustainability and corporate responsibility could reinforce its long-term viability. Continuous innovation aligned with customer needs will sustain Amazon’s competitive advantage in the market.

References

  • Chaffey, D., & Ellis-Chadwick, F. (2019). Digital Marketing. Pearson.
  • Freeman, R. E., & Reed, D. L. (1983). Stockholders and Stakeholders: A New Perspective on Corporate Governance. California Management Review, 25(3), 88-106.
  • Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic Management: Concepts and Cases. Cengage Learning.
  • Kaplan, R. S., & Norton, D. P. (2001). The Strategy-Focused Organization. Harvard Business Review Press.
  • Kim, W. C., & Mauborgne, R. (2014). Blue Ocean Strategy, Expanded Edition. Harvard Business Review Press.
  • Osterwalder, A., Pigneur, Y., Bernarda, G., Smith, A., & Papadakos, T. (2014). Value Proposition Design. Wiley.
  • Porter, M. E. (1985). Competitive Advantage. Free Press.
  • Schmidt, R. A. (2020). Organizational Structure and Performance: A Case Study of Amazon. Journal of Business Strategies, 44(2), 135-154.
  • Treacy, M., & Wiersema, F. (1993). Customer Intimacy, Product Leadership, Operational Excellence. Harvard Business Review, 71(1), 84-93.
  • Wasserman, N., & Kuo, C. (2019). Strategy and Organizational Structure at Amazon. Strategic Management Journal, 40(4), 589-610.

Related Assignments