Consider the following statement as part of a business plan: "Increase range profits by 20% by the end of the next fiscal year." This statement would best be classified as an objective.

The statement provided clearly defines a specific target to achieve within a defined timeframe—boosting range profits by 20% by the end of the next fiscal year. This aligns perfectly with the characteristics of an objective, which is typically a measurable and time-bound goal that guides the direction of a business's efforts. Objectives serve as benchmarks for success and help in evaluating progress over time.

In this case, the emphasis on a quantitative increase (20% in profits) and the deadline (the end of the next fiscal year) indicates that it is a goal that can be tracked and measured. This contrast with general visions or strategies, which may lack specific metrics or timeframes, demonstrates why the statement stands as an objective.