Learn About Annual Objectives and Its Importance Through Online Homework Help
Establishment of annual objectives is a decentralized activity directly involving all the managers of the organization. If managers actively participate to establish annual objectives, it often results in commitment and acceptance. If you have homework or assignments on this topic, our annual objectives homework help is just perfect for you. With our online homework help services, you will be able to submit your homework on time.
Importance of annual objectives for strategy implementation
Annual objectives are important of implementation of strategies since:
- They are a representation of the basis to allocate resources
- They serve as the main mechanism to evaluate managers
- Annual objectives are also the primary instrument to monitor progress towards achievement of long-term objectives.
- They help establish priorities, be it divisional, departmental or organizational.
Considering such importance, it is important to devote considerable effort and time to ensure that annual objectives are properly conceived. These objectives should support the strategies that are to be implemented and should also be consistent with the long-term objectives. As you will learn through our annual objectives assignment help, rejecting, approving or revising annual objectives not just another simple objective, it is a lot more than that.
Annual objectives purpose
Clearly communicated and stated objectives are vital for the success of all firms, regardless of their size or types. Annual objectives are very common in organization. These objectives stated in the terms of growth, profitability and market share with respect of geographic location, business segment, product and customer groups. Across all the hierarchical levels, the annual objectives should be consistent, thus forming a network of supportive objectives. Both vertical and horizontal consistency of objectives are important.
Annual objectives act as a guideline for actions. They help direct and channel activities and efforts of the members of an organization. They also justify activities to the shareholders, thus serving as a legitimacy source within the enterprise.
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Characteristics of annual objectives
Ideally, annual objectives must be reasonable, consistent, measurable, clear, challenging, well communicated, have a time dimension and should be accompanied by commensurate sanctions and rewards. It is quite frequent for objectives to be just generally stated. This way, they don’t have any operational usefulness. It should specify the quality, quantity, time and cost- all of which should be verifiable.
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