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Scotia

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Submitted By arleta0889
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Question 1
Candidates should explain the focus of objectives and how they provide the foundation for more targeted goals (an example of goal classification is included below). These targets will then be formalised by an organisation and specific policies will be formulated through planning and implementation to promote the achievement of goals and objectives.
Objectives may include:
Growth maximization to increase their market coverage
Sales Policy
Sell to anyone who is credit worthy
Social Obligations
Providing work for the local economy
Inward investment policy employing the services of all the local firms
Candidates should promote the concept of SMART objectives and the importance of SMART objectives to the organisation. If objectives are not SMART it would be unlikely a manager could identify desired performance levels and successfully monitor and evaluate performance outcomes.
Goals
Examples could include:
Consumer goals providing for the clients need and wants (specialist one off products)
Product/Service goals
Providing services of outstanding quality
Operational goals
Want to improve efficiency
Secondary goals Social responsibility, inward investment
Policies
Equal opportunities policy
Health, Safety and Well-being policy
Inward investment policy
Candidates should refer to the contribution to managerial performance. The relationship between objectives, goals and policy facilitates effective
Management performance goals and objectives provide the desired outcome while policy guides behaviour by defining how something should be done. Robust, practical policies and procedures will support attainment of goals and objectives.
Question 2
The Open Systems approach concerns the inter-related parts of a system that interact with the external environment. Changes in the external environment will influence and change components and

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