Company objectives Multiple Choice are needed only on a companywide basis related to a company's short$-$ term and long$-$ term profitability should be set in a manner that does not conflict with the performance targets of lower $-$level organizational units. need to be broken down into performance targets for each of its separate businesses $,$ product lines, functional departments $,$ and individual work units. are important because they help guide managers in deciding what the company's strategy map should look like. play the important role of establishing the direction in which the company needs to be headed $.$