How would you go about developing a set of objectives for th

How would you go about developing a set of objectives for the organization you are analyzing in your Senior Projects?

Solution

In order to develop realistic, achievable as well as aspirational objectives for any firm it is always important to study the broad corporate objectives and strategy of the firm. It is important to know about the strategic positioning of the firm and also its long term vision with regards to its position in the market, introduction of any new product or staring a new segment which would help in setting objectives.

It would also be pertinent to benchmark its performance in terms of financial and operational metrics with other firms in the industry and set a goal for the important metrics. That way the firm can assess its current situation as far as those metrics are concerned and then set an objective to improve its performance through goal setting and in line with its long term strategy to improve further.