What are corporate goals?


Quick Answer

Corporate goals are statements that outline an overall company vision that includes an operating philosophy and specific objectives. Corporations set goals to provide direction to management and employees. Clear goals allow companies to communicate expectations and provide a blueprint for decision making.

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What are corporate goals?
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Full Answer

Corporate goals provide valuable information and guidance for management, employees, customers and investors. Goals are organized into specific areas that require focus such as operating efficiency, profit, manufacturing, customer satisfaction, marketing, expansion and sustainability through community outreach.

Goals can be broad or narrow in scope. Profitability is a goal that includes objectives on how the company intends to produce sales that lead to profits. This section may include specific goals for marketing, promotion and sales. Successful companies seek ways to develop and enter markets. Corporations conduct research to determine the potential profitability of a given market.

Goals are also internal. Departments such as sales and marketing have individual goals to meet. For instance, the company decides how many units need to be sold by each salesperson to meet its profit expectations. In turn, the salespeople are encouraged to meet sales quotas.

Sustainability goals might involve a long-term strategy for working with local community organizations on projects that line up with the corporate philosophy. This type of goal allows the company to build a good reputation while serving the public good.

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