Final answer:
Effective company objectives should be achievable, relevant, and time-bound, without being overly ambitious or set outside of resource limits. They should guide managers in evaluating opportunities and align with the company's strategic direction, avoiding infrequent revisions that might reduce agility.
Step-by-step explanation:
When we consider the characteristics of effective company objectives, one of the key aspects is that they should be achievable and appropriate. This means that objectives need to be realistic and attainable, with a clear plan detailing how these objectives will be met utilizing available resources. It's also crucial for objectives to be relevant, supporting the overall goals of the organization and making sense within its strategic framework.
Furthermore, effective objectives should be time-bound, having a specific deadline. This ensures there is a sense of urgency and a clear timeframe for achieving the goals. Importantly, while objectives should be challenging, they must not be set outside the practical resource limits, as this could lead to overextension and ultimately, failure.
Lastly, company objectives should indeed guide managers as they search for and evaluate opportunities. They act as a navigational tool to ensure that the opportunities pursued are aligned with the company's strategic direction. In contrast, revising objectives too infrequently, such as every five years, may lead to a lack of responsiveness to market changes, and setting overly ambitious goals can be demoralizing and counterproductive. Therefore, the correct statement from the options provided is that company objectives should guide managers as they search for and evaluate opportunities.