Corporate Objectives and Strategies

To convert a mission statement into more specific plans and projects.

They should be achievable and measurable.

They are communicated to employees and investors to inform them of the organization's goals.

<p>Strategic objectives are specific, measurable, and realistic translations of the mission statement.</p> Signup and view all the answers

<p>Strategic objectives are long-term plans, while tactical plans are specific action steps to achieve results.</p> Signup and view all the answers

<p>A two- to four-year plan.</p> Signup and view all the answers

<p>A business goal is a broad primary outcome, while a business objective is a measurable step taken to achieve that goal.</p> Signup and view all the answers

<p>To provide a short phrase that details what a company wants to become in the future, inspiring and energizing employees.</p> Signup and view all the answers

<p>A business objective should be specific, measurable, achievable, relevant, and time-bound (SMART), and should also be communicated to workers, with their input where possible.</p> Signup and view all the answers

<p>Business objectives provide a guide for the operation of the firm and give a sense of direction and unity to the company.</p> Signup and view all the answers

<p>Specific, Measurable, Agreed/Assignable, Realistic/Relevant, and Time-related.</p> Signup and view all the answers

<p>Business objectives are a measurable step towards achieving the company's overall mission.</p> Signup and view all the answers

<p>To inspire and energize employees by providing a clear direction for the company's future.</p> Signup and view all the answers

<p>The vision statement sets the overall direction, while objectives outline the steps to achieve that vision.</p> Signup and view all the answers

<p>Business objectives help to align the company's efforts with the needs and expectations of its stakeholders.</p> Signup and view all the answers

<p>Involving workers in the setting of business objectives helps to increase motivation and engagement, and ensures that objectives are achievable and realistic.</p> Signup and view all the answers

<p>To provide a clear basis for decision making, measuring progress, and controlling activities.</p> Signup and view all the answers

<p>By providing a shared understanding of the company's goals, a vision statement helps align stakeholders' expectations.</p> Signup and view all the answers