Objectives need to be sustainable (continue for a very long time). Explain the need for both short term and long-term objectives to be specified

Setting the Stage: Objectives are the specific, measurable goals that a company or individual wants to achieve over a certain period of time. They provide a clear direction and focus, ensuring that everyone is working towards the same end goal.

Short-Term Objectives: Short-term objectives are typically set for a period of one year or less. They are important because they provide immediate direction and benchmarks for success. They help in maintaining motivation as achieving these objectives can provide a sense of accomplishment and progress. Short-term objectives also allow for quick adjustments if things are not going as planned.

Long-Term Objectives: Long-term objectives, on the other hand, are set for a period of more than one year. They provide a broader picture of where the company or individual wants to be in the future. These objectives are important because they provide a long-term vision and a sense of direction. They also help in strategic planning and resource allocation.

The Need for Both: Both short-term and long-term objectives are necessary because they serve different purposes but are interconnected. Short-term objectives help in achieving long-term objectives. For example, a company might have a long-term objective of becoming the market leader in its industry. To achieve this, it might set short-term objectives like increasing sales by 10% in the next quarter or launching a new product in the next six months.

Sustainability: Both short-term and long-term objectives need to be sustainable. This means they should be achievable and realistic, considering the resources available and the external environment. Sustainable objectives ensure that the company or individual can continue to operate and grow in the long run.

Conclusion: In conclusion, specifying both short-term and long-term objectives is crucial for success. They provide a clear direction, help in planning and resource allocation, and ensure sustainability.