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A NEED FOR LONG TERM AND SHORT TERM OBJECTIVES
A company can set and formulate financial and strategic objectives. These objectives are based on the both short-term and long term performance relating to business. Short term or annual objectives focuses too and attention to delivering immediate performance improvement in current year. Long term objectives focus on long term prosperity of firm‟s or companies.
Long Term Objectives
Short run profit maximization is rarely based on the best approach to achieving sustained corporate growth and profitability of the firm. It is recognized by the strategic managers of the firm. Therefore, to achieve long term prosperity purpose strategic managers designed long term objectives. Long term objectives of the firm or company or organization as listed below: Profitability Productivity Competitive position Employees development Employee relationships Public responsibility Technological leadership
A company can set and formulate financial and strategic objectives. These objectives are based on the both short-term and long term performance relating to business. Short term or annual objectives focuses too and attention to delivering immediate performance improvement in current year. Long term objectives focus on long term prosperity of firm‟s or companies.
Long Term Objectives
Short run profit maximization is rarely based on the best approach to achieving sustained corporate growth and profitability of the firm. It is recognized by the strategic managers of the firm. Therefore, to achieve long term prosperity purpose strategic managers designed long term objectives. Long term objectives of the firm or company or organization as listed below: Profitability Productivity Competitive position Employees development Employee relationships Public responsibility Technological leadership
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