文档介绍：Strategies in Action
Chapter 5 Business Policy and Strategy (BADM 482)
Long-Term Objectives
Long-term objectives represent the results expected from pursuing certain strategies1>.
Strategies represent the actions to be taken to plish long-term objectives.
The time frame for objectives and strategies should be consistent, usually from two to five years.
The Nature of Long-Term Objectives
Objectives should be
quantitative
measurable
realistic
understandable
challenging
hierarchical
obtainable
congruent anizational units
associated with a time line.
The Nature of Long-Term Objectives
Clearly established objectives offer several benefits:
provide direction
allow synergy
aid in evaluation
establish priorities
reduce uncertainty
minimize conflicts
stimulate exertion
aid in resource allocation
aid in job design.
The Nature of Long-Term Objectives
Long-term objectives are needed at the
corporate
divisional
functional levels of anization.
Long-term objectives are an important measure of managerial performance.
Excessive emphasis on short-term rather than long-term objectives should be avoided.
The Nature of Long-Term Objectives
Clearly stated municated objectives are vital to ess because
objectives help stakeholders understand their role in anization’s future
they provide a basis for consistent decision making by managers whose values and attitudes differ
consensus regarding objectives can minimize potential conflicts during strategy implementation
objectives set anizational priorities and stimulate exertion and plishment
they serve as standards by which individuals, groups, departments, divisions, and anizations can be evaluated
objectives provide the basis for designing jobs anizing activities
they provide direction and allow anizational
synergy.
Financial Versus Strategic Objectives
Two types of objectives mon:
financial objectives
strategic objectives.
Often, trade-offs between financial and strategic objectives must be