How do organizational missions and competitive advantages influence organizational objectives?

Question

What will be an ideal response?

Answer 1

Objectives are items that focus organizational effort toward improving the organization's competitive strength and
its long-term market position. Objectives have to be developed based on the organization's mission and
competitive advantage.
Different types of missions and competitive advantages will dictate different types of objectives:
• A large organization with a mission emphasizing growth in new markets will often focus on increasing its market
share by expanding geographically.
• A small organization with a mission to be an expert in its narrow category will often focus on increasing its
market share within its current market, with the intent on dominating a particular niche.
• An organization with a mission focused on luxury services will often target an objective based on increasing its
brand reputation, or improving its customer service for high-end customers.
• A company driven by innovation with a competitive advantage in technology will often try to leverage its
advantage through new innovative products, or improving its responsiveness to dynamic market conditions by
shortening its product
development cycle time.