Objectives

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Objectives

Business objectives are specific statements that give projections about growth or development to companies. Business objectives are important to give direction to a business. If you are running a business without any business objectives, you shall not be able to grow successfully in any direction. Having business objectives, gives you a much better understanding of where you stand, how to improve and what changes in your current method of working will be required to reach your objectives. Not having business objectives leads to an un-coordinated business that has a very low probability of being successful. Some examples of Business Objective are: "Sell 1000 units of product A and 500 of product B by December 31, 2010" or "Maintain a minimum of 5% market share in the soft drinks segment in Petaling Jaya during the whole of 2011".

When setting business objectives, one must make sure that they are:

 

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