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24 Types of Business Objectives

 , updated on July 25, 2017
Business objectives are targets that are used to measure the performance of organizations, teams and individuals for a period of time. Objectives can include end-goals such as revenue and steps towards goals such as efficiency. The following are common types of business objective.

Revenue

Revenue such as a product management team with a revenue target of $45 million for a particular product line.

Costs

Reducing costs. For example, an automation project that reduces the cost of warehouse operations.

Competition

Competitive objectives such as gaining market share.

Knowledge

Developing know-how and intellectual property.

Return on Investment

Achieving an attractive return on investment is a common objective for strategies, projects and investments in assets and securities.

Efficiency

The amount of output you get for a unit of input. For example, the amount of electricity required to produce a unit on a production line.

Productivity

The amount of output you get for an hour worked such as the amount of work required to produce a pair of shoes.

Processes

Improving processes such as reducing the cycle time of an order fulfillment process.

Capabilities

Implementing new business capabilities or improving existing capabilities. For example, a human resources department that launches a campus recruiting capability that allows the firm to engage graduates at 12 universities and colleges.

Brand

Brand objectives such as brand awareness and brand loyalty.

Product

Product development objectives such as time to market and time to volume.

Sales

Sales targets such as customer lifetime value and customer acquisition cost.

Pricing

Pricing objectives such as price leadership.

Distribution

Distribution objectives such as developing distribution channels in a new region or country.

Customer Relationships

Reducing customer churn and cross-selling related targets.

Customer Experience

Improving the end-to-end customer experience as measured by customer satisfaction, ratings and reviews.

Employee Experience

Satisfied, productive and creative employees. Measured by employee surveys and productivity metrics such as revenue per employee.

Organizational Culture

The norms, expectations and habits of your organization. Measured with surveys. For example, a survey of manager perceptions of resistance to change and office politics.

Operations

Objectives related to your core business processes. For example, the availability of your IT services.

Quality

Quality objectives such as improving quality control metrics, reducing customer returns or improving product ratings.

Risk

Risk management objectives such as reducing the probability and impact of information security incidents.

Innovation

Innovation objectives such as developing a product with revenue potential that is an order of magnitude beyond your current products.

Compliance

Implementing controls to achieve compliance to standards, laws and regulations.

Sustainability

Objectives related to the global impact of your operations and products such as reducing harmful waste.
Overview: Business Objectives
Type
Definition
Objectives that are used to measure the performance of organizations, teams and individuals for a period of time.
Related Concepts

Business Objectives

This is the complete list of articles we have written about business objectives.
Automation
Availability
Brand Loyalty
Branding
Business Costs
Business Results
Compliance
Cross-Selling
Cycle Time
Distribution
Efficiency
Innovation
Know-how
Knowledge
Market Share
Objectives
Pricing
Productivity
Quality
Recruiting
Risk
Risk Management
Sales
Sustainability
Time To Market
Time To Volume
Types of Objectives
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