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Objectives should also be associated with a time line.
Long term objectives are needed at the corporate, divisional and at functional levels of an organization. The set objectives also form a base for the evaluation of managerial performance and, in broader sense, the performance of the whole organization in the end.
Success of any firm heavily relies on clearly stated and communicated objectives.
1. It helps stakeholders understand their role in an organization’s success.
2. It provides a basis for consistent decision making by managers whose values and attitudes differs
3. It sets forth organizational priorities and stimulates exertion and accomplishment...
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