Need guaranty for reaching your objectives? Just apply business tactics

Every firm needs to set up a table of business objectives. Objective is derived from the word “object" that has specific and perhaps narrow meaning. Generally, objective is concerned with a target or mission to be accomplished in the short-run. Objectives are achieved only by applying one or more tactics. In short tactics lead towards objectives. How is that?

The format of objective must answer the question “Who, What, When, Where, Why”. For example, a firm sets a target of achieving 20% of market share in sports car in Texas within 12 months. This objective is not a stand-alone gimmick, but part and parcel of a grand plan to capture sizeable market share in sports car segment.

Spearheaded by this specific objective firm goes on to program how best to get at that. It needs to change form broader and global view of car manufacture per se and concentrate on peripheral view of sports cars for Texas market only. Therefore a statement of objective along with typical tactics that might be applied is communicated to line managers in clear and precise manner. On top of it line managers are also given freedom to choose typical tactics outlined or in case of need to amend or replace these as they see fit.

The second aspect in the mission is, as you have already observed, shorter time span. In the next fiscal the firm must crack up its whip to get 20% and more. Huge marketing effort in the form of, intense networking, flooding of ads in print and electronic media and touching base with existing customers enticing them to buy additional car is carried through.

To match up with the expected customer response, firm goes on full stream getting production line to turn out the popular models in sufficient numbers and in best form.

Now that the firm is in full swing and operations in production and sales areas are proceeding as planned, it needs to check and validate the result with the objective set. Since the time span is only 12 months, sales progress is collated every week and validated against the target set. Here the validating process is simple because firm can measure outcome in tangible manner.

Orders placed for number of cars is the first item followed by number of cars being readied and finally number of cars delivered are tangible outcomes that are reported on weekly basis. In case of any shortfall observed either in production line or distribution channel or both, line managers are authorized to intervene to get the ball rolling.

Tactics is do or die battle; you are on the fast track; time is ticking; quite a lot of matters need to be done promptly in achieving an objective; get cracking and this is pretty urgent.        

 

Cheers!

 

Muthu Ashraff Rajulu

Business Strategist

Mobile: + 94 777 265677

E-mail:   cosmicgems@gmail.com

Blog:   Business Strategist