Strategy illustration Strategy theory

Setting aims and objectives

An objective is the end or ends that an organisation is trying to achieve. Typically, objectives will be set at a number of levels, e.g:

SMART

Objectives, wherever possible, should beSMART i.e:

Specific - clear and easy to understand.

Measurable - i.e. able to be quantified.

Achievable - possible to be attained.

Realistic - not 'pie in the sky'.

Time bound - associated with a specific time period.

Public sector organisations like the Inland Revenue set objectives for service, such as processing customers tax returns within a given time period.

Private sector organisations like Kelloggs might set objectives for customer satisfaction, and effectiveness in handling customer orders within a given time period. Visit Kelloggs

Objectives are the ends to be achieved, whereas the strategies or plans are the means to achieve these ends.


Supporting Documents

These downloads will help to put strategy theory into context using real world examples from real businesses.

Meeting customers' needs in growth markets - online gaming
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Discover how BT applied strategy theory to thrive in the telecommunications industry by downloading our premium case study.

Meeting customers' needs
Travis Perkins logo

Learn how Travis Perkins employed strategy theory to succeed in the construction industry by downloading our premium case study.

Leading a revolution in banking
Intelligent finance logo

Discover how Intelligent finance used strategy theory to prosper in the financial services industry by downloading our premium case study.

Using sports marketing to engage with consumers
Kia Motors logo

Discover how Kia Motors applied strategy theory to prosper in the automotive industry by downloading our premium case study.

The use of the marketing mix in product launch
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Learn how NIVEA applied strategy theory to thrive in the manufacturing industry by downloading our premium case study.