objectives

Examples of objectives in the following topics:

• Setting Objectives

  • Quicker terminal turnaround (activity) translates into on-time delivery (objective) Closing railroad crossings (activity) translates into fewer accidents (objective) Minimizing maintenance costs (objective) translates into higher profits (objective)
  • One model of organizing objectives uses hierarchies.
  • From any rank, the objective in a lower rank answers to the question "How?
  • " and the objective in a higher rank answers to the question "Why?
  • This strategy map shows high level strategic groupings and objectives in the linked boxes.

• Setting Objectives and Standards

  • A company's standards define its practices, while its objectives define what actions the company needs to take.
  • Combining standards and objectives allows management to create a business strategy.
  • One model of organizing objectives uses hierarchies.
  • From any rank, the objective in a lower rank answers the question "How?
  • " and the objective in a higher rank answers the question "Why?"

• The Importance of Performance Targets

  • Performance standards motivate employees and management to use their time efficiently by setting achievable objectives.
  • For the employee to achieve them, objectives should be clear and simple to understand.
  • The SMART model is a good framework to keep in mind when generating goals and objectives.
  • The SMARTER framework expands upon this model by noting that objectives should be evaluated and reviewed consistently as well.
  • Each component of the SMART model describes an effective attribute of a performance objective.

• SWOT Analysis

  • A SWOT assessment involves specifying the business's objective and then identifying the internal and external factors that are favorable and unfavorable toward the business's ability to achieve its objective.
  • Setting the objective, in terms of moving from strategy planning to strategy implementation, should be done after the SWOT analysis has been performed.
  • Doing so allows the organization to set achievable goals and objectives.
  • Decision makers first determine whether an objective is attainable, given the SWOTs.
  • If the objective is not attainable, a different objective must be selected, and then the process can be repeated.

• Rational Decision Making

  • The process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight.
  • For example, most people want to get the most useful products at the lowest price; because of this, they will judge the benefits of a certain object (for example, how useful is it or how attractive is it) compared to those of similar objects.
  • In general, people will choose the object that provides the greatest reward at the lowest cost.
  • Its objectivity creates a bias toward the preference for facts, data and analysis over intuition or desires.

• Common Targets of Organizational Change

  • Cultural change is usually necessary to reduce employee turnover, influence employee behavior, make improvements to the company, refocus the company objectives, rescale the organization, provide better customer service, or achieve specific company goals and results.
  • Careful and objective consideration of what is working and what is not, as well as what is parallel with the broader organizational objectives and what is not, are critical to success here.
  • The objectives, content, and process of change should be specified as part of the change management plan.
  • Recognize and discuss the various components of an organization which may undergo change through the evolution and adaptation of organizational strategy and/or objectives

• The Perceptual Process

  • Size - A larger size makes it more likely an object will be selected.
  • Figure-ground - Once perceived, objects stand out against their background.
  • Perceptual Constancy - This means that if an object is perceived always to be or act a certain way, the person will tend to infer that it actually is always that way.

• Maintaining Control

  • He defined it as a systematic effort by business management to compare performance to predetermined standards, plans, or objectives to assess whether performance is in line with these standards and presumably to take any remedial action required.
  • According to Mockler, the purpose of control is to ensure that human and other corporate resources are being used in the most effective and efficient way possible in achieving corporate objectives.
  • Planning is a process which establishes an organization's objectives and the methods to achieve those objectives.
  • Thus, goals and objectives are often referred to as Siamese twins of management: managing and correcting performance to make sure that enterprise objectives and the goals designed to attain them are accomplished.

• Fulfilling the Controlling Function

  • It's object is to point out weaknesses and errors in order to rectify [them] and prevent recurrence."
  • Control can also be defined as "that function of the system that adjusts operations as needed to achieve the plan, or to maintain variations from system objectives within allowable limits."
  • The degree to which they interact depends on the nature of the operating system and its objectives.
  • Planning is a process by which an organization's objectives and the methods to achieve the objectives are established, and controlling is a process that measures and directs the actual performance against the planned goals of the organization.
  • Therefore, goals and objectives are often referred to as the siamese twins of management: the managerial function of management and the correction of performance in order to ensure that enterprise objectives and the goals devised to attain them are being accomplished.

• Strategic, Tactical, and Operational Control

  • These strategies and tactics are developed with the foresight of specific operational objectives, such as market share, return on investments, earnings, and cash flow.
  • Tactics for organizational control are developed based on existing goals and strategies to establish specific objectives in the context of an overall strategic plan.
  • These objectives should run parallel on a timeline, some short-term and others long-term.
  • This involves crafting vision statements (long-term projections for the future), mission statements (describing the organization's role in society), overall corporate objectives (both financial and strategic), strategic business unit objectives (both financial and strategic), and tactical objectives.
  • These objectives should suggest a strategic plan that provides details (tactics) for achieving these objectives.