Business Objectives

Question 1

What are objectives?

Answer 1

These are specific results and outcomes to be achieved in a particular time frame

Question 2

What are the SMART characteristics?

Answer 2

Specific
Measurable
Attainable/Achievable
Relevant/Realistic
Timely

Question 3

Why are objectives important?

Answer 3

1. Act as a guide to propel the business forward
2. Give employees a sense of direction
3. A tool to analyse the business’ performance
4. Provide guide and framework for decision making
5. Tracks the organization’s progress
6. Used to set targets for individual departments

Question 4

What are the types of objectives?

Answer 4

short term, long term and medium term