Objectives
Objectives are the ends that states specifically how the goals shall be achieved. They are concrete and specific in contrast top goals, which are generalized. In this manner, objectives make the goals operational. While goals may be qualitative, objectives tend to be mainly quantitative in specification. Thus objectives are measurable and comparable.
Objectives play an important role in the strategic management as given below:
1. Objectives define the organization’s relationship with its environment.
2. Objectives help an organization to pursue its vision and mission.
3. Objectives provide the basis for strategic decision making.
4. Objectives provide the standards for performance appraisal.
Characteristics of objectives
In order to be effective, objectives should possess the following characteristics:
1. Objectives should be understandable.
2. Objectives should be concrete and specific.
3. Objectives should be related to a time frame.
4. Objectives should be measurable and controllable
5. Objectives should be challenging.
6. Objectives should correlate with each other.
7. Objectives should be set within the constraints of the organization.
Levels of objectives
1. Corporate level objectives
2. Organizational level objectives
3. Departmental level objectives
4. Personnel level objectives
Categories of objectives
1. Marketing objectives
2. Financial objectives
3. Operational objectives
4. Research and development objectives
5. Community services related objectives