What Are The Setting Company Objectives And Goals?


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Tariq Habib answered
The company's mission needs to be turned into detailed supporting objectives for each level of management. Each manager should have objectives and be responsible for reaching them. For example, Monsanto operates in many businesses, including agricultures, pharmaceuticals and food products. The company defines its mission as one of helping to feed the world's exploding population while at the same time sustaining the environment. This mission leads to a hierarchy of objectives, including business objectives and marketing objectives. Monsanto's overall objective is to create environmentally better products and get them to market faster at lower costs.    For its part, the agricultural division's objective is to increase agricultural productivity and reduce chemical pollution by researching new pest and disease resistant crops that produce higher yields without chemical spraying. However research is expensive and requires improved profits to plow back into research programs so improving profits becomes another major business objective. Increasing sales or reducing costs can improve profits. Improving the company's share of the U.S market, by entering new foreign markets, or both, can increase sales. These goals then become the company's current marketing objectives.

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