Strategic objectives

They are based on organisational and environmental audits (we’ll look at this in the next short course) and lead to strategic and operational objectives.

Strategic objectives are specific benchmarks for long-term plans that help to achieve the overall organisational mission. They need to be specific, measurable, achievable, realistic and time-bound (SMART) and are usually formulated on a two to five-year basis.

These strategic objectives are then translated into smaller, shorter-term operational objectives for the individual functions of a business. Ideally, these operational objectives are also SMART.

The methods employed to achieve the objectives are referred to as ‘tactics’. So, advertising could be a tactic to achieve a sales objective.

Your tasks

Explore this diagram and ensure you understand the relationship between the different elements.

Try to fill in the elements based on the information you can find on your own organisation or Coventry University. Is the relationship between the different elements obvious?

Further information

_{McDonald, M., & McDonald, M. (2016). Malcolm McDonald on marketing planning: Understanding marketing plans and strategy (2nd ed.). Kogan Page. Locate link}

_{McDonald, M., & Wilson, H. (2011). Marketing plans: How to prepare them, how to use them (7th ed.). John Wiley & Sons. Locate link}