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Economic Intents

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Submitted By Raymondm
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A few examples of objectives are: * Expand sales to existing customers (build on a strength) * Introduce existing products into a new market (build on a strength) * Develop an incentive plan for research and development staff who are slow to innovate (correct a weakness)
Objectives are needed for each key area the company deems important to success. From a company perspective, there are distinct types of objectives:
Financial Objectives
Financial objectives focus on achieving acceptable profitability in a company’s pursuit of its mission/vision, long-term health, and ultimate survival. Financial objectives signal commitment to such outcomes as good cash flow, creditworthiness, earnings growth, an acceptable return on investment, dividend growth, and stock price appreciation. (Thomas Strickland, p.7)
The following are examples of financial objectives: * Growth in revenues * Growth in earnings * Wider profit margins * Bigger cash flows * Higher returns on invested capital * Attractive economic value added (EVA) performance * Attractive and sustainable increases in market value added (MVA) * A more diversified revenue base
Strategic Market Objectives
Strategic market objectives focuses on the company’s intent to sustain and improve the organization’s competitive strength and long-term market position through creating customer value.
Strategic objectives focus on winning additional market share, overtaking key competitors on product quality or customer service or product innovation, achieving lower overall costs than rivals, boosting the company’s reputation with customers, winning a stronger foothold in international markets, exercising technological leadership, gaining a sustainable competitive advantage, and capturing attractive growth opportunities. (Thomas Strickland, p.7)
Strategic objectives need to be…...

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