Published by:
Harvard Business Publishing
Length: 10 pages
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Abstract
A study of 12 mature industrial companies shows that managing a financial goals system is a complex process in which competing and conflicting goals must be balanced. Once a company recognizes that its goals are interdependent and that trade-offs among them are necessary, it tends to emphasize market priorities in order to preserve its standing in the industry. In selecting its company''s financial objectives, management should specify realistic time horizons for achievement, ensure that all primary goals are consistent with one another, and account for changing economic and competitive conditions.
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Abstract
A study of 12 mature industrial companies shows that managing a financial goals system is a complex process in which competing and conflicting goals must be balanced. Once a company recognizes that its goals are interdependent and that trade-offs among them are necessary, it tends to emphasize market priorities in order to preserve its standing in the industry. In selecting its company''s financial objectives, management should specify realistic time horizons for achievement, ensure that all primary goals are consistent with one another, and account for changing economic and competitive conditions.