Goals And Objectives Essay

2652 words - 11 pages

Setting goals and objectives is a necessary action to attaining business success.
According to the Iowa State University Extension website, a goal is a general statement of achievement while an objective is a specific step or action you take to reach your goal. Goals and objectives are important to the entrepreneur, as they clarify the purpose of the business and help identify necessary actions. Goals can involve areas such as profitability, growth and customer service.
Profitability
A common business goal is to run a profitable operation, which typically means increasing revenue while limiting expenses. Revenue objectives could consist of increasing annual sales by 10 percent or landing ...view middle of the document...

To improve efficiency, you could challenge your salespeople to improve their closing ratio from 30 percent to 45 percent. If you distribute a product, you might consider implementing a new shipping procedure that improves your delivery time from four days to two.
Growth
Perhaps your goal is to grow your business operation. If you own a franchise unit, for example, your objective might be to open three more units within a five-year period. If you operate a retail store, your objective might be to increase your selling space by 25 percent by completing an addition to your building within a year.

Nestle
Marketing objectives are compatible with the overall corporate objectives of nestle. Company’s objective is to be the world’s largest and best branded food manufacturer while insuring that nestle name is synonymous with the products of the highest quality.
              Its chief objectives are:
* To achieve compatibility with international voluntary standards on environmental management systems.
* To build mutual trust with consumers, governmental authorities and business partners.
* To ensure continuous improvement of nestles environmental performance.
* Conservation of natural resources and minimization of waste.
* To establish the benchmark for good business practice.
* Employing new technologies and processing.
* Measuring the cost and benefits to business of it’s activities.
* Monitor progress.
* Audit results.
Strategy
Nestlé Roadmap to Good Food, Good Life
Our objective is to be the leader in Nutrition Health and Wellness, and the industry reference for financial performance, trusted by all stakeholders.
We believe that leadership is not just about size; it is also about behaviour. Trust, too, is about behaviour; and we recognise that trust is earned only over a long period of time by consistently delivering on our promises. These objectives and behaviours are encapsulated in the simple phrase, “Good Food, Good Life”, a phrase that sums up our corporate ambition.
The Nestlé Roadmap (pdf, 58 Kb) is intended to create alignment for our people behind a cohesive set of strategic priorities that will accelerate the achievement of our objectives. These objectives demand from our people a blend of long-term inspiration needed to build for the future and short-term entrepreneurial actions, delivering the necessary level of performance.
Competitive advantages |
* Unmatched product and brand portfolio * Unmatched R&D capability * Unmatched geographic presence * People, culture, values and attitude | True competitive advantage comes from a combination of hard-to-copy advantages throughout the value chain, built up over decades. There are inherent links between great products and strong R&D, between the broadest geographic presence and an entrepreneurial spirit, between great people and strong values. |
Growth drivers |
* Nutrition, Health and Wellness * Emerging markets and Popularly
Positioned...

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