What are the different types of organizational objectives? Provide an example for each

Question

What will be an ideal response?

Answer 1

Organizations generally have five types of objectives:
• Financially Related Objectives, which address monetary results. Example: "Increase organization-wide sales by
12% by end of calendar year."
• Market share-related objectives, which focus on the organization's size of the market. Example: "Develop market
share in new market Y from 0% to 5% within one year."
• Product or service-related objectives, which concentrate on the organization's offering to the market. Example:
"Improve perceived quality, as evidenced by third party analyst rating increasing from ranking #5 to ranking #2 in
analyst report X."
• Brand-related objectives, which devote effort to the brand of the organization or its offerings. Example: "Increase
brand awareness in market X by 25% within one year, as measured by survey Y."
• Customer-related objectives, which engage in customer-related issues. Example: "Improve customer service, as
measured by 15% reduction in customer complaints about service, by end of year."