Analyse the importance to a large business of setting corporate objectives.

Mark scheme

Marking points from the official mark scheme (May/June 2016). The mark or mark type is shown in brackets.

1. (a) Level 4: Good analysis of the importance of large business corporate objectives (7-8 marks)
2. Level 3: Some analysis of the importance of large business corporate objectives (5-6 marks)
3. Level 2: Some explanation/application of corporate objectives to a business (3-4 marks)
4. Level 1: Understanding of corporate objectives (1-2 marks)
5. Level 0: No creditable content (0 marks)
6. Answers could include:
7. These specific organisation objectives become part of senior level management strategies.
8. Set the context for divisional/departmental objectives and effective plans of action can be developed.
9. Ensures that the business is focused and does not drift – clear corporate objectives given such as growth, profit/sales maximisation.
10. Present a clear set of guidelines and parameters for middle, junior management actions and strategies.
11. Without these clear corporate objectives a business can drift and cease to compete and flourish.
12. Give meaning and purpose for all engaged in the business.
13. Please accept and reward other relevant points.
14. (b) Level 4: Effective evaluation of how corporate objectives could be communicated in context (9-12 marks)
15. Level 3: Limited evaluation of how corporate objectives could be communicated in context (7-8 marks)
16. Level 2: Analysis and some application of how corporate objectives could be communicated in context (3-6 marks)
17. Level 1: Understanding of internal business communication (1-2 marks)
18. Level 0: No creditable content (0 marks)
19. Answers could include:
20. Strong answers will recognise the particular communication challenge to reach all the retail outlets in different location areas – senior management visits and presentations – regional/local managers invited into HQ?
21. Specific communication methods could be used:
22. 'State of nation' address by CEO and/or senior managers
23. Senior managers to middle managers to junior managers
24. Team meeting/briefing
25. Away days
26. Training and development days
27. Company newsletters/digital platforms/company website
28. Internet/social media.
29. Methods may not be as important or effective as developing participation and engagement opportunities for employees – to educate, inform and inspire employees.
30. Develop an open, sharing, two-way communication culture in the business – train and retrain managers to share information and practise a management style that is supportive of staff engagement approaches.
31. Effectiveness depends on the extent to which open communication is part of the bloodstream/DNA of the organisation and its managers and that there is full recognition of the need for consistency of approach over all this disparate business.
32. Please accept and reward other relevant points.