Strategic Objectives' Purpose, Effectiveness & Examples
What are strategic objectives?
What is the purpose of strategic objectives?
What makes an effective strategic objective?
What are some examples of strategic objectives for your organization or one with which you are familiar? (perhaps a credit card company or retail chain store i.e. Macy's or Sears)
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What are strategic objectives?
Strategic objective is the target or goal that an organization must achieve to make its strategy successful. Strategic objectives are, in general, externally focused and (according to the management guru Peter Drucker) fall into eight major classifications: (1) Market standing: desired share of the present and new markets; (2) Innovation: development of new goods and services, and of skills and methods required to supply them; (3) Human resources: selection and development of employees; (4) Financial resources: identification of the sources of capital and their use; (5) Physical ...
Solution Summary
The solution gives 349 words of explanation of strategic objectives, from their purpose to 5 things they should have and a real-life example of one. References include.