BT as public limited company
The main of BT is to provide significantly better services than any of its main competitors by March 2003 at the same time working to bring dramatic improvements in the quality of service delivery. BT’s aim is to enable its business and residential customers to communicate with the world around them using an extensive product and service portfolio covering voice, data, Internet and multimedia as well as managed and packaged communication solutions.
They are trying to reduce the cost through efficiency and improved productivity to meet customers’ needs effectively and there by providing its shareholders with good, sustainable financial returns. BT aim to ensure that all their employees have opportunities to develop their abilities and well rewarded for their contributions of the business. It is also BT’s policy to work with all its suppliers fairly, recognising the mutual benefit of satisfying customers’ need.
BT also aims to fulfil its responsibilities to the communities and environment in which it operates. In order to do this, BT base their strategies around four goals: The key objective of BT is to make profit. Extra money from this profit will be valuable for BT, as it will provide extra resources for research, development and training. Without profits Bt would not be able to keep its shareholders satisfied and would be unable to pay higher wages to deserving employees or invest in new technology.
Another important objective of BT is to increase their sales and market share. This obvious goal for a company such as BT operates in an environment where market share is fiercely to battle. The aim is that having a large market share by selling more products, BT can afford to purchase more stocks from its suppliers at a lower cost per unit. This allows BT to lower their prices, which in turn increases sales and profits. Another key objective of BT is to develop the skills of their employees.
By developing employees’ skills it increases motivation and improves communication skills. This is very important because a well-served customer swill be more satisfied and will almost certainly return for another service. It is also important for BT to develop staff, as training will build up their knowledge and understanding of the ideas and concept of running a successful business. These acquired skills and knowledge gained by staff as a result training allows certain members of BT staff to make important decision on behalf of the organisation.
This is why despite BT loss of market share, they were able to make huge profit in the last year. Producing high quality product is another important objective as far as BT is concerned. For a product to be of high quality, it must be well economically and able to please the customer. The Marketing Research and Development departments have keen interests in the development of high quality service and are somewhat responsible for maintaining the standard of such service.