Developing Appropriate Organizational Objectives
After the organizational mission has been developed, appropriate organizational objectives must be formulated.
Peter Drucker stated, that the basic requirements for successfully objective are:
- Objectives must be derived from "what our business is, what it will be, and what it should be."
- Objectives are the fundamental strategy of a business.
- Objectives must be operational. They must be capable of being converted into specific targets and specific assignments.
- Objectives must make possible concentration of resources and efforts.
- There must be multiple rather than a single objective.
- Objectives are needed in all areas on which the survival of the business depends.
Objectives should be established at least in eight key areas:
- Human Resources
- Physical and Financial Resources
- Social Responsibility
- Profit Requirements