A distinction is made between formal objectives and substantive objectives.
Formal objectives are objectives that reflect the success of the company, e.g. profit as the main objective; other formal objectives can be: liquidity, productivity, profitability, return on sales, return on investment, cost minimization, sales maximization, market share, secure jobs, good working atmosphere, prestige, sustainability.
Material objectives (sub-objectives for achieving formal objectives) can be: provision of services to meet demand, production of certain products of a certain quality, application of a certain production process, production of a certain quantity.
See also: Corporate Mission Statement; Strategic Management; Change Management; Due Diligence; Performance Management; Leadership
Reference to QET guidelines: T01 Guidelines; T02 CI