BUSINESS

OBJECTIVES
 ACTIVITY

Write 3 objectives for

yourself:

Life, career and

relationships
 What is an objective?
Something we seek to achieve

BUSINESS OBJECTIVES perform the role

of a compass or guideline in keeping the
business on track
 The nature, role and importance of business objectives

Objectives serve as a guide for:

Evaluating performance: measure success in

achieving goals over time
Decision making: Sense of purpose and direction
Efficiency: employees work in the interest of
organisation and use resources properly. Functions of
business co-ordinated
Consistency: employees work towards common purpose
HIERARCHY OF OBJECTIVES

Mission statement

Strategic objectives

Tactical objectives

Operational
objectives
 A hierarchy exists: one leads to the
fulfillment of the other.
Strategic objectives are at the core.
Tactical objectives must be achieved if
the strategic objectives are to be
reached
Operational objectives must be met in
order for tactical objectives to be
obtained
 Mission Statement

Captures attitudes and expectations of

employees
Focus of activities for people to identify
with
Overtime, provides framework for
strategies in the business
APPLEs MISSION
STATEMENT
Short and long term objectives
Objectives Target Time Examples
groups period
Strategic Top Long term To create 2
management (3-5 years), new products
even 10 years in the next 5
years
Tactical Middle Medium term To increase
management (1-3 years) production by
10% in 2
years
Operational Lower level Short term To meet
management (1 day to 1 weekly
year) production
quotas of
5000 items
SMART OBJECTIVES
 ACTIVITY

Write 3 SMART objectives

TYPES OF BUSINESS
OBJECTIVES
Profit
Growth
Survival
Sales
Market share (Market leadership)
Non profit objectives