Developing A New Company, Setting Goals And Objectives Essay

709 Words Feb 1st, 2016 3 Pages
When developing a new company, setting goals and creating objectives are core components to proper functioning of the business. “Goals are a broad, long-term accomplishments an organization wishes to attain and objectives are a specific, short-term statements detailing how to achieve the organizations goal” (Nickels, J. McHugh, & S. McHugh, 2016, p. 189). The CannaBus has incorporated several goals and objectives into their business plan including growth, profitability, and outstanding customer service.
Growth in the company in the short term is hiring employee’s and in the long term the growth will be expansion into other territories. Business profitability is extremely important to The CannaBus because it is paramount to have profitable organization which comes by increasing revenue and decreasing expenses (Joseph, C., & Demand Media, 2016). The other goal that is critical to running a business is having outstanding customer service including internal and external customers. The CannaBus’s goal is to ensure that the customer is always satisfied with the product and their experience. This can be established by only purchasing quality product and with proper employee training. Creating a SWOT is a perfect tool to analyze the company’s goals and objectives.
As a business grows it becomes impossible for the owner of the company to oversee everything and they must hire a management team which is critical (Nickels, p. 173). Management defines success as an “achievement of an…

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