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Non-financial objectives
A business may have important non-financial objectives which will limit the achievement of financial objectives. Examples of these are as follows:
Welfare of employees
The provision of employee welfare is an important objective; this relates to issues such as wages & salaries; comfortable and safe working conditions, training and development; pensions etc. The value of many businesses is critically-dependent on attracting and retaining high quality employees - which makes managing the welfare of such people even more important.
Serving customers
As all marketers understand, a critical activity of business is to understand and meet the needs and wants of customers. In the long-term, this objective is the foundation for a financially successful business. Non-financial objectives under this heading would include meeting defined delivery standards, product quality, reliability and after-sales service levels.
Welfare of management
Management can, and do set objectives which are essentially about their own welfare. These include objectives in relation to pay and conditions.
Relationships with Suppliers
Responsibilities to suppliers are expressed mainly in terms of trading relationships. Large businesses often have considerable buying power over their suppliers - which should be used with care. Supplier objectives would include those relating to the timing of payment and other terms of trade.
Responsibilities to Society
Businesses increasingly aware of their overall responsibility to society at large. The term that is often used is Corporate Social Responsibility. This includes a business complying with relevant laws and regulations (e.g. health and safety), minimising harmful externalities (such as pollution).
What else can I help you with?
Firms with relatively high nonfinancial fixed costs are said to have a high degree of what?
Operating Level.
What are the objectives of IDBI?
main objectives
What is the objectives of infosys?
objectives of infosys
Basic objectives of mnc's?
objectives of mncs
Objectives of E-banking?
objectives of e banking
How would you define a budget?
A budget is a quantitative plan of operations that identifies the resources needed to fulfill the organization's goals and objectives. It includes both financial and nonfinancial aspects.
How do you spell nonfinancial?
The word is spelled either as one word nonfinancial (nonfiscal) or hyphenated non-financial.
What is the antonym for financial?
nonfinancial
What is an antonym of financial?
i found on the net that it was nonfinancial
What nonfinancial measurements sometimes accompany the financial statements in reports to stockholders?
nonfinancial measures include information on such items as revenue percentage per employee, employees who have contact with customers, satisfied customers, research and development costs
Firms with relatively high nonfinancial fixed costs are said to have a high degree of what?
Operating Level.
What has the author Allen Sweeny written?
Allen Sweeny has written: 'Budgeting fundamentals for nonfinancial executives'
What are Kroger's primary goals and objectives?
The specific goals and objectives may change over time, but the financial goals can be found in The Kroger Co's Fact Sheet. To get the fact sheet, go to Kroger's homepage, scroll all the way to the bottom. Under the heading "About the Company," click on the "Investor Relations" link. On the left of the page, under the heading "Investors," click the "Reports & Statements" link. Scroll down the page. Under the heading "Fact Books," click on the link of the most recent fact book to get the most recent goals and objectives. In the 2011 Fact Book, Financial Goals and Strategy is found on page 46. To find nonfinancial goals, look in the sustainability report. To get there, from Kroger's homepage, scroll to the bottom. Under the heading "About the Company," click on the "Community" link. Scroll down until you see the heading "Community." Under the "Community" heading, click on the "Sustainability" link. The top right tab reads, "See full report." Click on that tab and it will pull up the sustainability report. Nonfinancial goals are in textboxes throughout the report.
What are the types of business objectives?
Financal objectives and social objectives.
What is the difference between the sales objectives and communication objectives?
difference between sales objectives and commuicatio objectives?
Difference between market objectives and corporate objectives?
link between corporate objectives and marketing objectives
What are the DHL objectives?
What is d.h.l objectives
