is there strategic objective for one year or just anual/operational objectives?

Question

how do we cascade/classify the objectives of a 3-5 year stratic plan into yearly objectives and what is the conventional management term used to name such yearly objectives which are cascaded from strategic objectives-is it yearly "strategic" objectives(which i've doubts) or yearly objectives or annual objectives?

Answer 1

First, let it be understood that the term "annual" and "yearly" are synonimous terms.

A strat plan is done by the top management, meaning the Board of Directors of a corporation if it is a stock corporation and by the Board of Trustees if it is a non-stock corporation. The plan is strategic because it is supposed to be formulated as a response to competitive situations in the market and is rooted on both external and internal conditions of the corporation. The prevailing conditions of the corporations are analyzed to determine its opportunities and threats given its present strength and weaknesses. The analysis paves the way for the formulation of the company goals and objectives that are usually terminal either quarterly, semi-annually or annually whichever is applicable.

On the other hand, the objectives are normally aligned with the corporate vision and mission that should be clearly issued as a statement that would serve as the guiding principle for the management of the corporation. The Vision/Mission statement should serve as a guiding force behind the corporation, it is supposed to give the corporate people that certain sense of purpose. All terminal objectives and goals must be accomplished to keep the corporate mission alive and meaningful.