Functional Objectives and Stratagies

Corporate objective
1. A long term goal that effects the business as a whole
  1. EG - become the first choice supplier
Functional Objective
1. Contribute to the success of corporate objectives
  1. These can be broken down into different functional areas
    1. HR
    2. Marketing
    3. Public relations
Corporate obective
1. Increase Profits
Functional objective
1. reduce costs by 10% (all departments)
  1. Increase sales by 20% (Marketing, Sales Research and development)
These objectives are used to form Stratagies
1. the strategy is the plan of action to meet Functional and Corporate objectives
2. Corporate strategy
  1. Developed to achieve the corporate objectives
3. Functional strategy
  1. Developed to achieve the functional objectives
    1. These strategies need to be SMART
      1. S - specific
        M - mesurable
        A - achievable
        R - realistic
        T - timebound

Resource summary

	Created by skipper_jack over 10 years ago