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Setting Long Term Objectives


Long term objectives are the expected results that firms will accomplish when pursuing certain strategies. They state what is to be achieved by when and should be quantified if possible. The achievement of corporate objective should result in the fulfillment of corporation’s mission.

Both the strategies and the objectives should be consistent and time frame normally extends from 2 to 5 years.

Some of the areas where a firm can establish its long term objectives are:

- Profitability (Profits)
- Efficiency (Low cost)
- Growth (increase in assets, sales)
- Shareholder wealth (dividend plus stock price appreciation)
- Reputation (being considered a top firm)
- Market leadership (market share)
- Technology (innovation, creativity)
- Survival (avoiding bankruptcy)

Set objectives should be quantitative, measurable, realistic, understandable, challenging, hierarchical, obtainable and congruent among organizational unit. Objectives......

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Approximate Word Count: 2771
Approximate Pages: 12 (250 words per double-spaced page)

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