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All organisations need to set objectives and plans. Therefore it is very important for all organisations, including mine to set these objectives and plans. Polyflor understands the importance of setting objectives and plans for their organisation as it is something to work towards and in order to succeed they need to follow these objectives and plans. Also these plans will help with changes that occur.
Definitions of objectives and plans
Lets first look at what objectives and plans mean for Polyflor S.A and how they can benefit from them. What is Objectives? Basically a objective is a purpose or standard that can be achieved within a certain time period, with the available resources. An objective is broader than a goal as it may include a number of goals. Objectives are the tools for all planning and strategic activities. Objectives serve as a basic policy. It allows them to analyse their performance, so therefore it binds the organisation together Objectives (n.d).
Now let's look at plans and what they entail. Objectives and plans are in similar. Only plans are there for future actions to be taken in order to achieve goals and hence achieve objectives. Plans need to say how its going to be done, when its going to be done, who is going to do it and what needs to be actually done. When Polyflor do their plans they look at what the best case, what is expected and the worst case. Therefore Polyflor will set objectives then set plans in order to achieve those objectives Plans (n.d).
Objectives of Polyflor:
- The main objective of Polyflor is to maintain long-term profit
- Satisfy customers needs and wants
- To offer high quality products and services
- Not only provide products and services but give the customer an experience
- They believe in "team work" to succeed, therefore they strive to have all employers and employees work together
- Keep it a family business attitude within the business
- Have a dedicated sales force
- Have the best technical support in the industry
- Have all staff thoroughly educated about products and services
- To be as "green" as possible, meaning to be environmentally friendly.
Plans of Polyflor:
- Have extensive financial planning within the organisation
- Plans to expand as a company to African countries
- Plans to have more corporate social investments, so Polyflor is wanting to give more to the community. They planning to donate flooring to government hospitals
- Plans to expand their products. So have other products other than flooring. Polyflor has introduced drains and such product to their list of products
- To have more environmentally friendly products. So having flooring made out of recycled goods. Example melting down old tyres and making them into rubber tiles
- There are plans to have more team building exercises to insure that their employers and employees bond and therefore work better together
- Plans to have training and development programmes in order to keep their staff up to date. Therefore they will create the best technical support
- To meet the needs and wants of their customers
Change happens all the time. Therefore it is very important to take change into consideration with the business. So Polyflor has to be on top of any changes that may occur and take the necessary plans to get through them. Therefore Polyflor has to have plans to incorporate into the business when change happens or is going to happen. They must apply these changes in order to improve.
Some plans would be that customers needs and wants are always changing therefore it is critical to know what their needs and wants are. If Polyflor doesn't have what the customers want or need they will turn elsewhere. Therefore it would be in the best interest of Polyflor to always know their customers' needs and wants and incorporate it into their plans to allow them to improve.
There are changes happening all the time. And one change that can be big for Polyflor especially being in this industry knows the new technological advancements. They should identify them and use it in their plans and see it as a good change. It could mean new range of products and services or existing ones but just made better. All this could open up a new market of satisfying people's needs and wants, or can satisfy existing customers even better. Also seeing changes in technological advancements will allow Polyflor to be kept up to date. That they can keep their staff educated and also be the best technical support in the industry.
The natural environment around us is also changing and it is concerning that resources are being used up. Therefore this change in the environment can be incorporated into the plans of Polyflor to improve. So they should see this change as an opportunity and make the company "green". Polyflor should offer more environmentally friendly products, such made from recycled goods. There is an increasing rate for a "green" market. So they should look at this change, as a lot places like buying "green" products , also it will give Polyflor a good name as they seem to be environmentally friendly.
Polyflor should have some kind of specialist that can pick up all changes happening, internally and externally. The specialist should be able to communicate these changes and incorporate them into plans that way the company will not be harm by them but will improve by them.
The main objective for any business is to make a profit. They can't just make a profit without doing anything, setting objectives and setting plans to achieve objectives will allow them to succeed. As you can see Polyflor has a number of objectives and plans, which I do believe they are achieving. When it comes to changes, Polyflor takes into account any changes and uses them to improve.
- Business Dictionary n.d.,objectives, viewed 22 March 2010, from http://www.businessdictionary.com/definition/objective.html
- Business Dictionary n.d.,Plan, viewed 22 March 2010, from http://www.businessdictionary.com/definition/plan.html
- Smith, D, 2009, Business Environment Final Assignment