DEFINING THE CORE OF BUSINESS FIRST..

In my introduction of Social Triangle, I have briefly touched upon the importance of Buying or Decision Cycle of consumer for any business. Businesses today commit lot of investments on Marketing before clearly defining their Business Goals and Objectives due to which often these businesses get lost somewhere.

In this article, I’ll highlight the importance of Goals and Objectives for any Business. Both Goals and Objectives help to express the purpose for which Business exists. The terms goals and objectives are often used interchangeably, but they have important differentiating attributes. They are used at different stages of the business planning process, and each serves a different purpose.

 

Goals

Goals are statements you make about the future for your business. They represent your aspirations for it. You might say, “We seek to be the No.1 Electrical Appliance Company in India.” This statement demonstrates that you have lofty plans for your business, but it does not say specifically how you can meet your goal.

Setting goals helps define the direction that a business will take. The language used in goals can be more emotional than is used in Objectives.

Objectives

Objectives are the exact steps your company must take to reach its goals. They are written without emotion, and they are typically measurable and quantifiable. They are realistic and attainable and have an associated timeline. For example, an objective for the goal statement of being the No.1 Electrical Appliance company in India“We will increase our sales by 15% every Quarter this Year.” Another objective might be, “We shall add 3 new distributors every month to reach out to more customers.”

 

Importance of Objectives

Businesses use objectives to measure their success and progress towards their goals. Without them, goals seem out of reach. Objectives can be motivational to business owners and employees, as meeting objectives provides a sense of accomplishment. When your objectives are easy to write, it is an indication that your overall business strategy is on the right track, according to business plan writer, Andrew Smith.


List out your Business Goals and Objectives before you further commit any investments on any form of Marketing.


You may always rely on us for assistance in formulating your Business Goals and Objectives.

One thought on “DEFINING THE CORE OF BUSINESS FIRST..”

Leave a Reply

Your email address will not be published.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