Objectives are statements that will have specific outcomes. Objectives can be set at all levels of a company and can build upon one another from lower to higher level corporate functions. They are often set at the corporate level and then each lower business unit creates a set of Objectives to help support and meet the corporate objectives. Sometimes they are in financial terms, especially at the corporate level. At lower levels in the company they may take many different forms, but must always have some statement(s) focused on financial results.
Objectives are part of the hierarchy of terms which help set and shape the strategy of a business or unit....
Corporate objectives are set by executive management and provide the focus for setting more detailed objectives at each functional level in the business. The corporate objectives relate to the business as a whole. Your objectives will line up with the corporate objective(s) and support it or them, however they will also be specific to your organization.
For example:
Corporate Objectives - Market share percent
Functional Objectives - Sales per customer
Unit Objectives - 5% increase in sales of product y
Objective examples:
- Create delighted customers
- Increase revenue to your division by 10K.
- Decrease cost per unit of (your widget).
- Increase market share to 51%
- Bring xyz product to market on Dec. 5th, 2 months before competition
- Provide learning opportunities to 25% of employees by end of second quarter
- Have MS SharePoint on line within 90 days
- Consolidate to three manufacturing locations by 2015
- Provide new computers to sale force over the next 24 months
- Hire 10 new engineers by Dec. 1st.
- Initiate TQM for manufacturing Unit #1 on June 1st.
- Move to new customer focused corporate office in by end of 3rd quarter
- Reduce product waste to 10% on Jan.1, 5% on Dec.1, and 3% within 24 months
- Cut energy consumption on Machine #20 by 5%
- Increase factory Y's output 2% within 6 months
- Eliminate waste to landfill by 2016
