We all have expectations and we base our expectations on the values learned from our parents and our community. The same applies for corporations. Business leaders (or CEOs) aim to set up their companies in a profitable way. They expect to earn more money than the money that was initially invested by shareholders. They expect to grow, and – in addition to being profitable – business leaders want to meet and exceed customer expectations. In this course we will focus on objective expectations.
Given that a company has multiple stakeholder groups with different and sometimes conflicting expectations, it is up to the CEO and the Board of Directors, to set the expectations. The CEO with his or her management team is responsible for the daily operations, while the board of directors is focused on the longer term, the strategy and vision for the company.
We’ll talk about a company’s long-range plan and about the preparation of an annual business plan. Of course, our goal is to understand how these two types of plans function together and complement each other. We’ll also take an in-depth view of end-to-end processes in a corporation.