Objectives of Strategy-Making and Strategy-Executing Process

Question

Illustrates the setting objectives of the Strategy-Making and Strategy-Executing Process?

Answer 1

1. The managerial intention of setting objectives is to change the strategic vision into exact performance targets – outcomes and results the company’s management needs to attain and then use these objectives as yardsticks for tracking the company’s performance and progress.

2. The Well-stated objectives are measurable or quantifiable and consist of a time limit for achievement.

3. The experiences of many companies and managers teach that exactly spelling out how much of what type of performance by when and after pressing forward with actions and incentives calculated to help attain outcomes will increase a company’s actual performance.

4. Preferably, managers ought to utilize the objective setting exercise as a tool for precisely extending an organization to arrive at its full potential.