Functional Objectives and Strategies: Using Objectives and Strategies

Objectives are statements of specific outcomes that are to be achieved 

Corporate Objectives: a quantifiable statement of a businesses goals which should include measurable targets 

• Established once the mission of the company and its aims have been set out
• Should be measurable so that executives can assess progress 

E.g. Maximise profit, survival, growth. 

Functional Objectives: a quantifiable statement of a departments goals designed to ensure the corporate objectives are achieved 

• Should not contradict between departments
• Need to be discussed and coordinated so that time and effort isn't wasted sorting out conflicts

Strategies are the plans by which the departments intend to follow in order to achieve their functional objectives on a day-to-day basis

Business objectives should be SMART 

• SPECIFIC- clear what is required
• MEASURABLE- quantifiable goals
• AGREED- established once consulted upon with those involved
• REALISTIC- impossible to achieve will demotivate employees
• TIME-BASED- so that progress towards achievement can be measured