The objectives of a company

• Specific goals a company aims to achieve within a defined timeframe.

• Serve as a guide for decision-making and strategy development.

• Critical for ensuring the organization's success and long-term sustainability.

• Clearly defined objectives in Business Management align the efforts of all team members and enable the organization to measure progress toward its mission and vision.

• By Nature

  • Objectives are categorized according to their fundamental nature or the specific purpose they serve

• By Scope of Influence

  • Classified by the level of impact they have within the organization.

• By Reach and Time Horizon

  • Different by their duration and the extent of their goals (short-term, medium-term, or long-term).

• Economic:

  • Focused on profits, profitability, and the distribution of dividends.

• Financial:

  • Concerned with liquidity, debt levels, and attracting investors.

• Growth:

  • Related to areas such as asset volume, sales, and market share expansion.

• Social:

  • Aimed at job creation, reducing unemployment, and promoting education and training.

• General Objectives:

  • Impact the entire organization and guide its overall direction.

• Functional Objectives:

  • Specific to individual departments or functional areas, aligning with and supporting general objectives.

• Strategic Objectives:

  • Long-term goals, typically spanning 3-5 years or more.

• Tactical Objectives:

  • Medium-term goals, with a timeline of 1-3 years.

• Operational Objectives:

  • Short-term goals, focused on daily, weekly, monthly, or yearly outcomes.

• Achieve specific and unique objectives outlined in the company’s mission.

• Generate profit while creating value.

  • by providing quality, fair wages for employees…

• Address the needs and interests of internal (emploeyees, managers…)and external (stakeholders, customer)

  • Have to balance it

1. Perspective and Focus:

   • Provide clear guidance on priorities and direction.

   • Concentrate efforts in key areas.

2. Motivation:

   • Inspire employees with clear, achievable goals.

   • Foster a sense of purpose and belonging.

3. Measurement and Control:

   • Evaluation Performance and progress tracking.

   • Identify areas whre they cana track the improvement and adjust strategies.

4. Decision-Making (like Financial objectives)

   • Offer a frame of reference for decisions.

   • Align decisions with the company’s long-term goals.

The objective must be

1. Realistic and strick: In other words Achievable and challenging.

1. Precise and Quantifiable: Clearly defined and measurable.

2. Time-Bound: Set for short, medium, or long-term periods.

3. Prioritized: Hierarchized based on importance.

4. Controllable: Progress can be monitored and adjusted.

5. Assigned Responsibility: Adopted by the organization with clear responsibility

Accourding to the Neocassical Theory, the primary goal of any company is to maximaize its profits

1. 
   

2. Formula: Profit = Revenue - Costs

   1. company aim to generate much revenue and reducing their costs

• Individual stakeholders pursue their own objectives.

• A company’s objective is not singular or purely economic-financial.

• Another objecitve:

  • It must integrate and balance stakeholder demands

  • While profit is important

  • Example: employeec job security

  • Customers prioritize product quality.

• A stakeholder is a person, organization, or company with internal or external involvement in a business.

Types of Stakeholders:

1. Internal (Direct Interests):

   • Owners

   • Directors and Managers

   • Employees

2. External (Indirect Interests):

   • Suppliers

   • Customers

   • Shareholders

   • Competitors

   • Creditors

   • Society at large

   • Media

   • Public Administration