Aims and objectives
The terms ‘aims’ and ‘objectives’ are also sometimes used interchangeably in how organisations talk about themselves. But we can make a useful distinction between a general intention (aim) and the subordinate objectives, which support its achievement. Effective objectives are specific, measurable, agreed, realistic and timed – the famous SMART acronym (though you will probably encounter slightly different versions of what the letters stand for from one business writer to another).
In Activity 6 you’ll start to learn how to set strategic objectives.
Activity 6 How to set strategic objectives
Watch this video with Russell Yeomans. Explain what he thinks about the role of strategic objectives. What does he recommend to managers setting strategic objectives?