Why It Is Necessary For Organizations To Establish And Periodically Review Their Objectives?

Why it is necessary for organizations to establish and periodically review their objectives? Please explain with example.


Answer:
Well objectives are term as goals that the company or organization wishes to achieve. They set a specified time for example Sony have to have a fifty percent market share in the year 2009.These goal then help the company to remain efficient and on their toes.It also help in motivating workers.As to why objectives change well the judgment is that as the market changes,new competitors enter the industry,consumers taste change so do the goals of the organization.They renovate their objectives many times to make more profits or increase market shares.They review their objectives so that they know that what they are trying to bring about is possible or not in the current market situation.
Organisations are established with unquestionable objectives, which are both short term and long term. With the changing dynamics of environment organisational goal also should under go change to stay contained by tune with times. It is the concern of organisation to strive for superior performance and effective utilisation of resources, which is possible by varying their processes, technologies and methodologies. Many textile industries and others those not keeping with times turned bankrupt and closed down. Some times the inspired purpose of establishing an organisation also might totally undergo change by reinventing its role. Many social organisations fit this example.

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