In: Operations Management
In your own words, describe how you differentiate between goals and objectives?.
A company’s goals and objectives are the foundation, which measures how much distance it has covered to attain its vision. Goals are defined as the lifelong aims, which an individual or entity endeavor to achieve something. It determines what the company is attempting to accomplish. On the other hand, objectives are the specific milestones which a person plans to achieve in a limited period. These are precise, measurable, time-based, actions that assist in the achievement of goal.
The major differences between goals and objectives are provided below:
1.The goals are the broad targets, which can be achieved through continuous actions taken in the particular direction. Objectives are the aims that you want to achieve in a short span of time.
2.The goals are the result i.e. a primary outcome, but if we talk about objective, it is a stepping stone for achieving the goal.
3.The goals are based on ideas, whereas objectives are facts based.
4.When it is about the time limit, it is difficult to determine correctly that in how much time it can be achieved, but objectives can be time bound, in essence, they can be attained in a given period.
5.It is hard to measure goals, i.e. how much distance you have covered till now, while chasing your goal and how much is left to be achieved. On the other hand, objectives are easy to measure.
6.The goals are abstract, while objectives are concrete.
7.The goals require general actions to attain it. As opposed to objectives, that needs specific actions.