Difference between goals and objectives in business?

Answer 1

Objectives are tangible and detailed in every way. The one who sets the objectives is clear about what is desired. In business there could be several objectives not necessarily to earn profits. There are social objectives and human objectives too. Social objectives center around, supplying quality products, correct pricing, not exploiting the supply and demand ratio, not indulging in illegal activities, evading taxes, etc. . The human objectives cannot be ignored. A happy employee can be an asset to an organization. The objective therefore is to look at the needs of an employee and keep him happy and enthusiastic about his responsibilities. A whole Department is dedicated to looking into the needs of the Organisation's employees.

Goals on the other hand are tools one uses to reach ones objectives within a time frame, One needs to set parameters, for each objective that has to be reached. Goal setting is a process - a route to achievement of the Company's objectives.

(PERT). Performance Evaluation and Revue Technique could be categorized as one such tool which encompasses everything to achieve each objective of an organization

Goals set strategies that are required for an organization to stay in business. This is a huge responsibility which entails market research, competitors' activities, keeping an eye on shift in government policies, performance appraisal of those connected with achieving the objectives. Product Research and Development is yet another area that comes under the umbrella of goals, a goal to get the best deal for the Organisation.

Goals and objectives go hand in hand one cannot survive without the other.

Answer 2

Goals in business are overarching, broad statements that define the desired outcome of a business. Objectives are specific, measurable steps that need to be taken to achieve those goals. Goals are the ultimate destination, while objectives are the roadmap to get there.