The difference between financial objectives and strategic objectives is Group of answer choices financial objectives need to
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The difference between financial objectives and strategic objectives is
Group of answer choices
financial objectives need to be broken down into performance targets for each of the organizations separate businesses, product lines, functional departments, and individual work units, while strategic objectives are needed only in those areas directly related to a company's shortterm and longterm profitability.
financial objectives are needed only in those areas directly related to a company's shortterm and longterm profitability while strategic objectives need to be broken down into performance targets for each of the organizations separate businesses, product lines, functional departments, and individual work units.
financial objectives help answer the question Where do we want to go and strategic objectives help answer the question How are we going to get there?
financial objectives relate to the financial performance targets management has established for the organization to achieve, while strategic objectives relate to target outcomes that indicate a company is strengthening its market standing, competitive position, and future business prospects.
financial objectives determine the geographic and business scope of the companys operations while strategic objectives should be set in a manner that does not conflict with the performance targets of lowerlevel organizational units.
Related Book For
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
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