“We shall approach practical objectives through a series of approximations. Keeping the maximization of the rate of return as the central theoretical objective, we shall develop a number of subsidiary objectives (which the economists call proxy variables) which contribute in different ways to improvement in the return and which are also measurable in business practice. A firm which meets high performance in most of its subsidiary objectives will substantially enhance its long-term rate of return. (The defect in our approach is that we cannot prove that the result will be a ‘‘maximum’’ possible overall return.) As will be seen, this road has its own obstacles: the difficulties of long term maximization are replaced by the problem of reconciling claims of conflicting objectives.”

—  Igor Ansoff

Source: Corporate Strategy, 1965, p. 47; cited in: Graham Kenny, (2012),"From the stakeholder viewpoint: designing measurable objectives", Journal of Business Strategy, Vol. 33 Iss: 6 pp. 40-46

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Igor Ansoff 8
American mathematician 1918–2001

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