long-term (adjective, long-term, \ ˌlɒːŋˈtɜːrm \) objectives (noun, ob-jec-tive, \ əbˈdʒektɪvz \)
Definition: are performance goals formulated by a company and projected to be reached over a pre-determined period (usually five years or longer). An organization’s set of long-term objectives typically includes concrete improvements that need to be implemented to secure the company’s competitive position on the market, grant it technological superiority, increase its profitability, boost employees’ morale, and upkeep a positive corporate image. During the process of setting long-term objectives, companies usually employ strategic planning.
In a Sentence:
- Currently, we aren’t meeting our long-term objectives, as we’re five percent short of our projected revenue figures.
- According to our long-term objectives, we have to become the number one computer mouse supplier on the Mid-West market by 2021.
- As an IT company, one of our most important long-term objectives is to achieve a technology advantage over our main competitors in the country.
Synonyms and related words: strategic objectives, corporate objective, technical objective, financial objective
