Establishing corporate objectives at Solvay

A step by step account of the method used for determining corporate objectives at the Solvay Company, one of Europe's major chemical manufacturers, written by the Assistant Director of Long Range Planning. He emphasises the need for:

1. 1. a careful analysis of data to establish facts about the past and the probable future of the company and its environment.

2. 2. a “hierarchy of objectives” varying from the “grand design” to the specific project.

3. 3. objectives which are quantified and specific.

4. 4. a dialogue amongst management to set objectives which are realistic and acceptable to line executives.

The article is supplied with practical examples, taken from the chemical industry and business generally.