ASANSOL ENGINEERING COLLEGE

Department of CSBS
Course Name: Business Strategy
Course Code: HSMC(CSBS)-501
Year: 3rd
Semester: 5th

Topic: PPT Assignment on “Objective of Strategic Management”

Academic Session: Odd-Semester

June 2022 – December 2022

By:
Name : HAIMANTI SADHU
University Roll No : 10831120015
Department: Computer Science and Business Systems (CSBS)
What is Strategic Objective
Strategic objectives are declarations of intent that aid in developing a broad vision, as well as goals
and actionable tasks, for a business to help reach a desired result. When a strategic goal can be
measured through visible data or statistical outcomes, it is most effective.

Businesses establish strategic objectives to advance their vision, harmonies their goals, and
influence decisions that affect daily production at all organizational levels down to the lowest-paid
workers.
Types of Strategic objective
Businesses frequently categorize their strategic goals in order to accomplish various objectives.
Strategic goals can be established based on your particular sector or brand strategy, with each goal
falling under a larger category. Businesses frequently set strategic goals in the following categories:

I. Financial Objective

In order to forecast revenues, generate budgets, and track organisational costs, businesses develop
financial strategic objectives. With defined actions to raise or lower costs, review spending, examine
income trends, and plan for financial growth, they enable a business to concentrate on the financial
needs of their firm.

II. Growth Objective

Strategic growth objectives enable businesses to make decisions about growing and enhancing their
market influence as well as creating new internal procedures. A corporation can plan for the future of
the organisation with detailed measures on how to accomplish those long-term goals by using
strategic objectives for growth.
III. Training and Learning Objective

Companies seek to develop staff knowledge and capacities with particular initiatives in order to
create strategic learning objectives. In order to fulfil overall performance goals, a corporation can aim
to invest in its people through strategic objectives for training.

IV. Business Process and Operational Objective

The strategic objectives for business processes and operations centre on altering or restructuring
how a business run. A company may decide to modify and assess the way they produce a product
with the aim of creating a more efficient process in order to efficiently set production targets. Other
process and operational goals can include business-to-business or business-to-consumer strategies
and methods.

V. Customers Strategic Objective

The customer experience is a key component of some firms' strategic goals. Based on the cost of a
good or service, a company might wish to work on providing value to its customers. Or, to reach this
goal, a business would want to develop goals for exceptional customer service that include specific,
attainable objectives.
VI. Determine Clear Goal Based Objective

Choose your overarching objectives and intended results before creating a strategic aim. Decide
which aspects of your devolvement approach are most crucial. Consider how many goals you'll need
to complete to realize your overall vision. Before you set particular strategic objectives, think about
having a conversation about these concepts with coworkers and team members to gain their
perspective.

VII. Make a Purposeful Statement

A statement outlining how you will get from point A to point B in a predetermined amount of time
should be formed to build a strategic objective. This method makes sure you've described your goals
and the steps you'll take to achieve them. Making your aim measurable, as opposed to something
general you are working toward, is another benefit of selecting a schedule.

VIII. Use Actionable Steps

Make sure your goal can be accomplished through a series of steps or a few key activities. Take into
account the amount of time needed to fulfil the goal and the measurable results that will demonstrate
your success. Use precise data points such as percentages, years, or quarters.