Influences of Objectives
These can be both Internal and external and can effect the business in many different ways
What is the competition doing?
Trying to ensure you can compete with your competition.
Ensuring that buyers want it.
Ensuring that the price is right for your buyers
Companies such as Coca Cola dictate the market meaning that they influence others on price rather that others dictating them.
Social media and the internet influence where and how you can sell your product
Economic Factors-Changes in the economy can change objectives and how they can be achieved
Under this comes things like operational objectives
How much money the business has will restrict what objectives they can make and complete where the finance is coming from
HR- Finding people with the necessary skills, hiring those with the right skills
Shortages in workers
Ensuring that there is people with the right skills- technical help avaliable
Nature of the Product-
What is the product like?
What the product offers
Scale, how big?
Economies of Scale-
Diseconomies of Scale-
Large businesses don't share information as effectively, which means communication can be lost