It is utmost importance the strategic objectives of any organization. With strategic objectives the company can measure its progress towards achieving its vision and mission and would give direction to its staff which in turn would enhance productivity of the company and reduction in clashes of ideas of its employees.
Key strategic objective of any company is to expansion of business activities. In this direction, it is necessary to motivate employees in order to contribute towards achieving of company objectives. Furthermore any company targets of maintaining accreditation in terms of quality of services and to implement favourable ratings from reputed rating agencies in an effort to enhance customer confidence of the company. Any company aims to enhance net earnings for its shareholders. Further company aims to incorporate sustainability element in its operations being considerate on the environment.
It is significant to communicate these objectives to its employees and motivate them to contribute to achieving objectives by adhering to the laid down broad goals.
In contemporary competitive business world, customers have a number of choices with regard to purchasing services and products. Various attributes are taken into consideration by different customers when choosing products and services.
In products or services there are major attributes for companies to achieve competitive edge by keeping in position of their products and services with each attribute. These attributes are introduced as competitive priorities. These are recognized as performance objectives in operation management perspective.
It is an important aspect the cost of services or products. Specifically cost is significant in any industry, Therefore any organisation must be cost conscious in order to retain its customer base and also to gain new customers.
Flexibility and speed of operations of new product or services in a company tends to be lesser. New product development which flexibility aspect goes through a vigorous assessment procedure.