Examples of Objectives for a Company

As an entrepreneur, it’s vital that you create specific objectives as part of your business plan. Establishing objectives helps drive your company toward continuous success, and remains a benchmark even during times of struggle. A company objective is a goal or outcome that you want your organization to achieve.

Company objectives are measurable and effectively describe the actions required to accomplish a task. Objectives define the techniques your organization will use to achieve sales success, customer service standards and branding opportunities as well as any other measurable aspirations.

Achieving Financial Success

Business managers must set clear financial objectives to emphasize the financial targets of the company. Objectives should be ambitious, but also measurable and realistic. An example of a financial objective could be the growth in company revenues and earnings. Attaching a quantifiable number, such as 15 percent growth in revenues and earnings within the next 12 months, is ideal because it can be measured and adjusted if necessary.

Another financial objective could focus on increasing capital and investments, such as attracting new shareholders and investors by improving creditworthiness and cash flow.

Increasing Sales Figures

Sales objectives help companies measure their position against industry competitors. These objectives tend to focus on ways an organization can surpass the competition in market share, product quality, and brand recognition. For example, if you own a comic-book store, one example of a sales objective could be to increase your monthly sales by 10 percent over the course of the year. To do this, you may have to implement a marketing strategy to attract new buyers or introduce new items that will allow you to up-sell to your existing customers.

Improving Human Resources

To operate effectively, your company must hire talented employees who can implement your decisions and maintain productivity and efficiency. Human resources objectives cover organizational structure and employee relations. They also cover the employee training and development goals of the organization. A human resources objective could be to reduce employee turnover by 20 percent by introducing a new employee-assistance program.

Another objective could be to improve productivity by implementing a company-wide training program.

The staffing of an organization is also a focus of human resources. An objective to meet staffing needs could be to actively recruit skilled workers into the organization. You could also set an objective of diversifying your employees by focusing on hiring a specific number of women and minorities.

Retaining Talented Employees

One of the often-overlooked objectives for small businesses is ensuring that talented and skilled employees remain with the company. As a business owner, you know how challenging it can be to find employees that exceed performance expectations. When you find these types of workers, your objective should be to retain them by offering competitive salaries, incentives and a workplace environment that is inclusive and harmonious. Investing in training programs that give your employees additional education can also help achieve this objective.

Focusing on Customer Service

Business managers establish objectives that focus on providing quality customer service. These objectives attempt to measure customer satisfaction with costs and overall quality of a product or service. A customer service objective could be to reduce delivery and distribution time of products and services. Another could be to reduce the number and frequency of customer returns and complaints or to improve the response time of client inquiries.

Establishing Brand Awareness

In the age of social media marketing, many small businesses are finding that brand marketing is another vital objective. Branding is all about selling the experience of your product or service by communicating to your audience how your business satisfies a want or need or makes their lives more convenient. One branding objective could be to increase the number of social media likes on influential platforms such as Facebook and YouTube. Another branding objective could be to increase your social media awareness by analyzing a metric such as website visits.