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When writing a business plan what is the difference between goals and objectives?
Wiki User
∙ 16y ago
People often use the words goals and objectives interchangeably. When it comes to drafting a business plan, it is important to understand that the two have very different meanings. Goals are what you would like to happen - they are general intentions with broad outcomes. Objectives on the other hand are precise statements relating to specific outcomes. Objectives can be validated - most of the time goals cannot. For instance, you might set the goal of becoming the leading retailer of green widgets in the United States. This is a broad statement, which you may or may not be able to corroborate. An example of an objective would be: to sell 10,000 green widgets Year One, 25,000 Year Two and 40,000 Year Three. This is a narrow statement that can be substantiated by reviewing your company's sales reports. In business planning, larger goals often help to define specific objectives, so make sure you set these first.
Wiki User
∙ 16y ago
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