Question:      What do you understand by corporate aims and objectives?
Business organsiations have evolved through the years, in the far past, organization were known to have profitability as the sole objective. But now, things have sure changed. Businesses now have myriad of objectives and aims that every manager would pause in other to meet up with the demand of the stakeholders which include:

-           Customers
-           Employees
-           Shareholders
-           Government
-           Community. etc.
Frontline management Expect, Peter Drucker had opined that “aims and objectives are needed in every area of business where performance and results directly and vitally affect the survival are prosperity of the business” (Imaga 2000 pg 17)
Although organization is divided into sub-sections (where the organization is to courage one) each of these sections or departments have their sub-aim and objective to enable it functions optimally. The pyramid below shows this these aims and objectives can be in form:

Company creed or philosophy statement
Question 1(b)
How do these relate to what is often referred to as business credo?
            Business credo relates to all those missions and purposes that pursue the basic socio-economic needs of the business, shaped primarily by the values of managers whose duties there are in the manning of the organization with personnel as well as administer its resources.
Credo answers the questions:
I.          What is our business?
2.         What will our business be ?
3.         What should be our business?
4.         Who is our customer?
5.         What does he buy? Etc

With the aid of a diagram, discuss the interrelationship between profitable growth and enterprises socio-economic goals and social responsibility.
There is no gainsaying the fact that there is an inter-relationship between the three variables of:
(a)       Profitable growth
(b)       Enterprise socio-economic ground and
(c)       Social responsibility
Super-ordinate objective contains subordinate objectives and it can only be achieved by co-operation by subordinates-  Image 2000
 A diagram illustrating profitable growth, social economic growth and social responsibility
Question 3
What do you understand by planning gap?
Discuss the relevance of planning gap in industry analysis

Planning gap refers to the disconnect between item of business plan that would have been connected to ensure that objectives pursued are not eluded.
Planning gap exist some of the times between decision variables when perhaps, the operators (managers) lack data or information to deal with a situation.

Example: From the diagram below, Image 2000 indicate a sales forecast of present product plessoiles estimate of new products, indicate a planning gap when related to prog sales objectives.

                Present product

Time and planning sap in production of sales-Imaga 2000.

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