Objective of strategic planing

 

Objective of strategic planing
Objectives are desired outcomes or end result to be achieved.Strategic planing is about setting long-term objectives.Organizations are created to achieves.They are guided in their decisions and actions by objectives.Objectives are future-oriented.
  1. According to Jauch and Glueck :Objective are the ends the organization seeks to achieve through us existence and operation.
  2. According to wheels and Hunger :Objectives are the ends results of planed activity.
  3. According to Johnson Scholes :Objective are statement of specific outcomes that are to be achieved.
Business organization purpose multiple objectives at the same time.They can be :
  • Profitability :Profit is excess of income over expenditure.It is return on investment or earning per share.
  • Survival :It is staying alive by avoiding liquidation.
  • Growth :It is all round growth in terms of profit,sales,market share.It is increase in assets and maximization of shareholder's wealth.It is essential for organization sustainability.
  • Efficiency :It is low cost operations for higher productivity in relation to competitors.It is input-output relationship with quality assurance.
  • Leadership :It is technological leadership through innovation,creativity and quality products.Market leadership in terms of market share and competitive position.
  • Social responsibility :It is contribution to society by safeguarding interested of stakeholder and general public.It is to become responsible corporate citizens.
  • Reputation :It is to gain image of "top firm" or to have environment friendly image.
  • Personal needs of top management :It is to provide employment to friends and relative.
  • Employee relations and development :It is to maintain harmonious labour relationship and increase competency of employees.

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المشاركات الشائعة من هذه المدونة

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