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CA Intermediate · Financial Management and Strategic Management · Introduction to Strategic Management

Sunrise Textiles of Surat, a mid-sized fabric maker, writes down a statement of the specific, measurable end results it wants to achieve in the next five years, such as reaching 15% market share in technical textiles. In strategic management terms, this statement is best described as:

The statement is an objective. Objectives are specific, measurable end results an organisation seeks within a stated period, such as a 15% market share target. A mission is broader and describes purpose, while policies and procedures guide action rather than define the desired results.

  1. AObjectivesCorrect
  2. BMission
  3. CPolicy
  4. DProcedure

Explanation

Objectives are the specific, measurable end results an organisation aims to achieve within a time frame. A mission is the broad statement of purpose and reason for existence, so it does not carry a target such as a market share figure. Policies and procedures are guides to action, not end results.

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