F291 Objectives

About objectives for F291 exam.

HideShow resource information

Kinds of objetives

Strategic objectives,

Long-term objectives, for example to achieve a 10% growth in sales within 3 years.

Tactical objectives,

These are short term objectives that are crated to help a business reach its strategic objectives. Likely to be the day to day activities of the business. For example for a business to increase sales over 3 years a tactical objective could be for the marketing department to advertise to a larger or more relevant audience.

1 of 3

Setting the objectives

The objectives set by the business need to be SMART.

S - Specific. It is improtant that everyone understands the objective.

M - Measurable. The object shouls be measured so that success can be determined.

A - Agreed. The objectives need to be agreed between different departments othrwise they can conflict with each other.

R - Realistic. The business should not set an object that they cannot reach. This could end up wasting time and creating poor morel and motivation within employees.

T - Time. The objectives need to have a time restriction. Whats the point in setting an objective when it can be achieved in 20 years. It wont motivate employes to reach the objective.

2 of 3

SWOT

A SWOT analysis can help a company to find and create good objectives.

STRENGHTS

WEAKNESSES

OPPORTUNITIES

THREATS

of the business can be found then targeted with objectives.

3 of 3

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all resources »