Discussion
Which of the following is a statement of objectives (a type of plan)
Answer: B
Correct answer: Reduce costs by 5 percent
An objective must be specific enough that attainment can be tested. "Reduce costs by 5 percent" states a measurable target against which performance can later be judged.
"Reduce costs as much as possible" and "make more profits" state directions rather than targets: no result could ever be shown to have failed them. "Reduce product prices to capture market" is a course of action - a strategy or policy - not the end it serves. The distinction matters because objectives are the standard against which control is exercised, and an unmeasurable standard controls nothing.
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