Post by account_disabled on Mar 6, 2024 6:22:47 GMT
Walt Disney once said that “ a person must set his goals as soon as possible and dedicate all his energy and talent to them . ” In this sense, companies should do the same, since, as Alberto Lozano, Sales Director of Oracle NetSuite, points out, “ many companies are still not aware that they still have many challenges ahead, and only those that are capable of evolving quickly and efficiently they will be able to accelerate their growth.” Hence the need to set business objectives to understand the processes and have the ability to measure growth. Next, we explain what business objectives are, what types there are and how you can define them. cta text What are business objectives According to business strategy expert and author of several books William F. Glueck , business objectives “are those ends that the organization seeks to achieve through its existence and operations . ” Therefore, they are a measurable result that an organization aims to achieve and that guides all its members to achieve it. However, it is essential to differentiate business objectives from goals, since they are not the same.
The one hand, goals refer to the general and final result, while objectives are measurable and specifically define what the process will be like until the goals are achieved. In this way, setting business objectives is one of the basic keys to business planning and organization, since they not only give an idea of the direction in which your company is heading or establish the strategies that will be used in a given time, but They also serve as a framework that allows the company Europe Mobile Number List to track and analyze its growth. Likewise, business objectives contribute to the following: Provide motivation to workers. Develop better action plans . Have a better means of evaluating the results and progress of the company. Establish a basis for setting budgets . business-objectives What types of business objectives exist? Depending on the elements that are analyzed, whether according to their nature, the time in which they can last, how their growth is measured or the scope of action they have, we can establish different types of business objectives.
According to its nature Business objectives, depending on their nature, can be general or specific: General : these types of objectives cover the entire project and represent the main challenge to be achieved, that is, it is the objective to which all the efforts of an organization contribute. An example of a general objective would be: increase sales by 5% over the next year. Specific : they are those that reflect the smallest goals that allow the general objective to be achieved; That is, the steps that must be taken in order to move forward and thus achieve the general objective. An example of a specific goal would be: each representative must close five sales a week. 2. Depending on how long they can last Business objectives, depending on the time they can last, can be of three types: Short-term : the fulfillment of business objectives should not exceed one year. Medium term : its duration can vary from one to three years. Long term : the achievement of the objectives could extend up to five years. 3. According to growth measurements Business objectives, based on growth measurements, can be quantitative and qualitative.