Brief Recently I have encountered a few terms which a lot of confusion about them exists among business people. These terms are business goal, objective, strategy and tactic. At first glance, they might look like the same; however they are totally different from organisations’ standpoints and convey distinct concepts at different levels. In the following lines, I explain these terms along with a sample to make it more clear: Business Goal Goals are the broad primary outcomes towards which effort and actions are directed in a business. They are whats, not hows and a business might have multiple goals to achieve. For example, "we must be a leader player and increase our share in the home loan market". Normally there is no measurement in the definition of a goal and only gives you the general direction of the company. Business Objective Business objective differs from business goal in the sense that they are measurable and specific. It actually quantifies the thoughts and sets a...
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