BBA 3rd Year Responsibilities and Tasks of Top Management Long Question Answer

BBA 3rd Year Responsibilities and Tasks of Top Management Long Question Answer

Q.4. What are the guidelines for setting an objective?

Ans. The guidelines for setting an objective are as follows:

1. Objectives must be clearly specified.

2. Objectives must be set taking into account the various factors affecting their achievement.

3. Objectives should be consistent with organisational mission.

4. Objectives should be rational and realistic rather than idealistic.

5. Objectives should be achievable but must provide challenge to those responsible for

achievement.

6. Objectives should yield specific results when achieved.

7. Objectives should be desirable for those who are responsible for the achievement.

8. Objectives should start with the word ‘to’ and be followed by an action verb.

9. Objectives should be consistent over the period of time.

10. Objectives should be periodically reviewed.

Examples of Good Objective Setting: Given ahead are certain examples as to how the organisation should define their objectives so as to provide direction for their course of action:

1. We want to make our product the number one selling brand in its field in terms of units

sold’. This leaves little doubt about the intended sales objectives and market standing.

2. “We seek to produce the most durable, maintenance-free product that money can buy! This

obviously focuses on the organisation striving to become leader in respect to high quality

product.

3. Our profit objective is to increase the earning so that we earn 12 per cent post-tax return on the worth of the company’. This is a very clear objective, easily measurable and providing direction about the quantum of profit for the organisation.

4. ‘We strive to become leader in product innovation in our field by investing five per cent of our sales revenue on research and development. This provides direction to management about

what the organisation wants to do in the field of innovation and how it can be achieved.

Leave a Comment

Your email address will not be published. Required fields are marked *