bus objectives

• business objectives

  “The specific outcomes an organization is aiming to achieve in a designated period of time”
• objective 1: increase percentage market share


  Market share is the proportion of a business’s total sales expressed as percentage of the total sales in an industry. It indicates how the business is performing in a particular market relative to its competitors. if bus has big market share has market dominance
• objective 2 make a profit


  profit fed back into bus or given to the owners in dividends Revenue is the sum of all sales that a business has generated through the sales of its goods or services for a designated period. Expenses are the costs that a business incurs from conducting its operations during a designated period.
• objective 3 increase efficency/rate of productivity growth

  Productivity is number of goods or services that are produced compared to the resources used to produce them. The rate of productivity growth is the percentage change productivity from one point in time to another (designated period).
• objective 4 meeting shareholder expectations

  shareholders invest money to recieve ROI paid when bus makes profit if bus does not make profit then they recieve no dividend
• objective 5 increase effectiveness

  Improving effectiveness is when a business achieves certain benchmarks which determine whether other business objectives are achieved. ex: staff absenteesim staff turnover waste reduction
• effectivness objective rate of staff absenteeism

  Rate of staff absenteeism is the rate at which employees are taking days off work if staff abesenteeism increases it could have a impact on bus operation as less employees less work done negavtive impact on productivity.
• rate of staff turnover


  Staff turnover measures the number of employees who had to be replaced in a period.
• effectivness objective level of wastage


  Level of wastage is the amount of inputs (raw materials not used) and outputs (defective products) that are discarded during the production process. high wastage= operation managment problem high wastage=increase in costs, non compliant in CSR goals and legal obligations
• fulfill a market need/meet customer expectations


  Fulfilling a market need is providing the goods and services customers want to buy.
• Objective # 7: To fulfil a social need/ meet CSR expectations


  “Managing a business in such a way that the broader welfare of the community including employees, customers, suppliers and the environment is taken into consideration when making business decisions. This is the business going beyond just its legal and regulatory obligations”