Strategic objectives, which are high-level goals that support the company's mission and are intended to create shareholder value, must be set first. In order to meet these strategic objectives, management should identify alternative ways of accomplishing the objectives, identify and assess the risks and implications of each alternative, formulate a corporate strategy, and set operations. compliance, and reporting objectives. As a rule, a company’s mission and strategic objectives are stable. However, its strategy and the other objectives are more dynamic and must be adjusted for changing conditions and realigned with strategic objectives.