Question

Explain 'objectives' as one of the types of plans.

Answer 1

Objectives or the goals of the organization are the ends towards which every activity of the organization is aimed at. Therefore, goals or objectives are the results that the organization tries to achieve. Objectives are considered as a prerequisite for planning. The managers cannot make plans if they have not established the organizational goals first. While the objectives of the enterprise are the basic plans of the firm, it is also possible that various departments of the organization may also have their own objectives. Therefore, even if the objectives of the departments are required to contribute to achieving the objectives of the enterprise, but it is possible that the goals adopted by these two can be totally different. For example, while the objective of the enterprise is to earn a particular amount as profit but on the other hand, the goal of a particular department is to sell the products.