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Objectives

In: Private Equity Unchained

Author

Listed:
  • Thomas Meyer

    (LDS Partners)

Abstract

Perhaps it is surprising that so far we have not touched upon the question of objectives. For Clausewitz, the objective is the first principle of war as all else flows from it. The same is often considered to hold for investment strategies — identifying objectives, what one wants and, crucially, what one does not want, as well as any underlying constraints, such as tolerance ofrisk.1 For investment managers, the objective defines the common purpose and gives direction to their activities. Guy Fraser-Sampson argues that objectives must be precisely laid down so that there can be no possible misunderstanding, as they are the yardstick success will be evaluated against. He goes on to criticise that answering this basic question was exactly what most of the world’s investors neglected to do. The inability of decision makers to frame tangible and obtainable goals is often observed and viewed as a deep-seated strategy failure.

Suggested Citation

  • Thomas Meyer, 2014. "Objectives," Palgrave Macmillan Books, in: Private Equity Unchained, chapter 0, pages 105-110, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-28682-6_10
    DOI: 10.1057/9781137286826_10
    as

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