QUESTION::;;; Read and summarize the below article in 600 words?

The first element of a strategy statement is the one that most companies have in some form or other. Unfortunately, the form is usually wrong. Companies tend to confuse their statement of values or their mission with their strategic objective. A strategic objective is not, for example, the platitude of maximizing shareholder wealth by exceeding customer expectations for _______ [insert product or service here] and providing opportunities for our employees to lead fulfilling lives while respecting the environment and the communities in which we operate. Rather, it is the single precise objective that will drive the business over the next five years or so. (See the exhibit A Hierarchy of Company Statements.) Many companies do have and all firms should have statements of their ultimate purpose and the ethical values under which they will operate, but neither of these is the strategic objective. The mission statement spells out the underlying motivation for being in business in the first place the contribution to society that the firm aspires to make. (An insurance company, for example, might define its mission as providing financial security to consumers.) Such statements, however, are not useful as strategic goals to drive todays business decisions. Similarly, it is good and proper that firms be clear with employees about ethical values. But principles such as respecting individual differences and sustaining the environment are not strategic. They govern how employees should behave (doing things right); they do not guide what the firm should do (the right thing to do). Firms in the same business often have the same mission. (Dont all insurance companies aspire to provide financial security to their customers?) They may also have the same values. They might even share a vision: an indeterminate future goal such as being the recognized leader in the insurance field. However, it is unlikely that even two companies in the same business will have the same strategic objective. Indeed, if your firms strategy can be applied to any other firm, you dont have a very good one. It is always easy to claim that maximizing shareholder value is the companys objective. In some sense all strategies are designed to do this. However, the question to ask when creating an actionable strategic statement is, Which objective is most likely to maximize shareholder value over the next several years? (Growth? Achieving a certain market share? Becoming the market leader?) The strategic objective should be specific, measurable, and time bound. It should also be a single goal. It is not sufficient to say, We seek to grow profitably. Which matters more growth or profitability? A salesperson needs to know the answer when shes deciding how aggressive to be on price. There could well be a host of subordinate goals that follow from the strategic objective, and these might serve as metrics on a balanced scorecard that monitors progress for which individuals will be held accountable. Yet the ultimate objective that will drive the operation of the business over the next several years should always be clear. The choice of objective has a profound impact on a firm. When Boeing shifted its primary goal from being the largest player in the aircraft industry to being the most profitable, it had to restructure the entire organization, from sales to manufacturing. For example, the company dropped its policy of competing with Airbus to the last cent on every deal and abandoned its commitment to maintain a manufacturing capacity that could deliver more than half a peak years demand for planes. Another company, after years of seeking to maximize profits at the expense of growth, issued a corporate mandate to generate at least 10% organic growth per year. The change in strategy forced the firm to switch its focus from shrinking to serve only its profitable core customers and competing on the basis of cost or efficiency to differentiating its products, which led to a host of new product features and services that appealed to a wider set of customers. At Edward Jones, discussion among the partners about the firms objective ignited a passionate exchange. One said, Our ultimate objective has to be maximizing profit per partner. Another responded, Not all financial advisers are partners so if we maximize revenue per partner, we are ignoring the other 30,000-plus people who make the business work! Another added, Our ultimate customer is the client. We cannot just worry about partner profits. In fact, we should start by maximizing value for the customer and let the profits flow to us from there! And so on. This intense debate not only drove alignment with the objective of healthy growth in the number of financial advisers but also ensured that every implication of that choice was fully explored. Setting an ambitious growth target at each point in its 85-year history, Edward Jones has continually increased its scale and market presence. Striving to achieve such growth has increased long-term profit per adviser and led the firm to its unique configuration: Its only profit center is the individual financial adviser. Other activities, even investment banking, serve as support functions and are not held accountable for generating profit.

Question::

Read and summarize the below article in 600 words?