Commentary

Abstract

The next set of decisions commits the organisation to some form of action, i.e. setting objectives. Within the context of strategic plans, objectives should have three characteristics. First, they should be quantified, i.e. to enable management to monitor programmes as the plan evolves. Secondly, they should relate to a specific time period, which will vary depending on the nature of the organisation and how it defines its mission. Thus, an oil company operating in the energy business may think strategically in terms of a quarter of a century or more because of the need to finance enormous amounts of capital investment. A school or university operating in the personal development business will set its time horizons much nearer to the present day. Thirdly, the objectives should be realistically attainable in order to provide the necessary motivation to those charged with the responsibility of so doing.

Citation

(1988), "Commentary", European Journal of Marketing, Vol. 22 No. 2, pp. 86-102. https://doi.org/10.1108/eb027340