Strategic Objective & Planning: Corporate Governance
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1. What is the difference among strategic, long-term, and short-term objectives? What is the relationship between objectives and goals? What are some examples of this relationship?
2. What is corporate governance? What role does corporate governance play in strategic planning? Why is it important? Explain your answer and give an example.
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// This paper is based on three concept strategic objectives, long-term objectives and Corporate Governance. In this series, the first part of the discussion is including the introduction of the strategic objectives and long term & short term an objectives.//
Strategic objectives
Strategic objectives are the components of the strategy. They are the block of material, which are used in an organization to define the strategic goals. The additional market share, passing key competitors on the quality of the product, product invention or the client service, gaining sustainable competitive advantages are some of the areas, which are focused by the strategic objectives. The company needs to concentrate upon beefing up the strategic objectives to fulfill its long term goals. The strategic objectives of the company state that the company should catch up with the market leaders to capture a large share of the market (Objectives, 2005).
Long-term objectives
Long-term objectives are set for a period of five or more than five years. The profitability, training and development of the employees, adoption of latest technology, keeping good relations with the employees, the status of the company in external environment, social and public responsibility are some of the general categories, which are focused by the long-term objectives. The key holders of a company frame the long-term objectives. The planning purview of the company should be able to set it accordingly. Different organizations set different long-term objectives but these should be achievable and should suit the short-term policies of the company ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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