Setting business objectives is crucial for several reasons:
Direction: Objectives provide a clear path for the company, guiding decision-making processes and resource allocation. Performance Measurement: They offer benchmarks against which the company's performance can be measured. Motivation: Well-defined objectives can motivate employees by giving them clear goals to strive for, which can enhance productivity. Alignment: Objectives help in aligning the efforts of different departments, ensuring that everyone is working towards the same goals.