Example of objectives:
Financial
Business managers must set clear financial objectives to emphasize the financial targets of the company. Objectives should be ambitious but also measurable and realistic. An example of a financial objective could be growth in company revenues and earnings. Attaching a quantifiable number, such as 15 percent growth in revenues and earnings within the next 12 months, is ideal because it can be measured and adjusted if necessary. Another financial objective could focus on increasing capital and investments, such as attracting new shareholders and investors by improving credit worthiness and cash flow.
Sales and Marketing
Sales and marketing objectives help companies measure their position against industry competitors. These objectives tend to focus on ways an organization can surpass the competition in market share, product quality and brand recognition. An example of a marketing objective could be to lower costs in respect to competitor pricing to attract a new class of buyers, or to introduce a new product line to appeal to a broader demographic.
Human Resources
To operate effectively, organizations need competent employees. Human resources objectives cover organizational structure and employee relations matters. They also cover the employee training and development goals of the organization. A human resources objective could be to reduce employee turnover by 20 percent by introducing a new employee assistance program. Another objective could be to improve productivity by implementing a company-wide training program. The staffing of an organization is also a focus of human resources. An objective to meet staffing needs could be to actively recruit skilled workers into the organization.
Customer Service
Business managers establish objectives that focus on providing quality customer service. These objectives attempt to measure