Strategic goals are statements that show the vital and important strategies of your organization. In other words, you are trying to reach your strategic goals in a certain period of time (usually 3 to 5 years) and your goals are linked to your actions and initiatives.
Strategic Objectives, The article tries to introduce a list of examples of strategic goals so that you can pay attention to the different types of goals that may have the best results in your organization according to the conditions of your organization.
You can find 56 of them categorized by perspective or topic below. Before we go into the examples, we first talk about how to choose the right goals for your organization. Sometimes you may want to consider a software tool based on your list of goals to evaluate their progress.
But it should be noted that your goals are only part of your strategy. Therefore, use this step-by-step guide discussed in this article to formulate your comprehensive strategic plan.
Choose strategic goals that are best for you
Here are some practical tips based on years of experience. You do not have to implement all 56 strategic goals in your organization. You only have to select some of them. We recommend choosing a maximum of 15 goals. But how do you know which goals are right for your organization? It depends on your industry and strategy.
Use this list of goals to identify the most important elements according to your industry and strategy, and to do this you need to start a brainstorm. Then list the set of goals that best represent your organization.
Strategic goals based on your industry
What are you doing? If you work in a fast-growing industry such as IT, technical services or construction, you need to choose goals that align with your growth goals and move in a clear and positive direction. For example, you may be launching a new product or increasing your gross income in the next year. If you have a low-growth industry (such as sugar or coal production), choose goals that focus on protecting your products, assets, and managing your expenses; Such as reducing administrative costs by a certain percentage.
Strategic goals based on your strategy
What is your strategy in your industry? Two similar businesses in the same industry can have two very different strategies. Your strategy is as much about your goals as it is about the goals you set.
For further explanation, this section provides an example of setting business goals based on strategy. Consider two financial services companies, Goldman Sachs and E * TRADE. These two companies manage customer finance and investment; But (in general) Goldman Sachs prioritizes establishing personal relationships with high contact rates, while e-Trade prefers to establish relationships using advanced technology and as a self-service.
As a result, the two organizations undoubtedly have distinct goals. From a marketing perspective, Goldman Sachs may focus on customer referrals and communications, and e-commerce on social media and customer service automation. From a human resources perspective, Goldman Sachs, on the other hand, can define its goals based on maintaining and expanding customer and e-trade relationships on technical skills and product development.
Your business can have the same mission and purpose as any other organization; But if it takes a different approach to achieving that goal, it must have a unique set of strategic goals.
Strategic goals for municipalities
We have heard many say that municipalities or agencies do not really have a strategy; But in reality, this is a fictional story. If you look more closely at each of the cities, you will notice that some cities are growing fast and others are not. High-growth cities have chosen strategic goals based on their specific socio-economic situation. In fact, all municipalities set goals based on budget balances and security improvements.
But the most successful cities are those that are moving towards improving these high-level goals. Does the urban planning budget need to focus more on public services? Are Street Crimes or Retail Crimes Often Security Issues? Choosing goals that answer these questions is the most strategic (and successful) approach for cities.
It is also important to note that the municipal strategy should be specific to the economy and population of the city and be diverse. Goals may not all focus on a single source of income, such as tourism or manufacturing. Gulf coastal cities, for example, which have an oil-based economy, know that they cannot rely on the tourism industry in the event of an oil spill, and it is detrimental to them.
Such cities need a more resilient economy to build a healthy society. In short, the goals of municipalities must be diverse in order to withstand economic and environmental change.
Copy or duplicate strategic goals?
In the second chapter of political comedy TV series ” Parks and Recreation » ( Parks and Recreation ), Knvph Leslie (Leslie Knope) as one of the characters of the series tried to introduce a summer catalog Panni (Pawnees) to write and Ron Swanson (Ron Swanson), the protagonist, advised him to copy one of Terry Eagleton’s works.
This was one of the hilarious moments in this classic TV comedy series; But we must note that Ron did not give good advice to Leslie!
When we talk about “copying” goals, it does not mean that we have to implement them for our strategy without thinking and considering. In fact, we should use this list of goals for brainstorming and brainstorming an important issue given our specific industry and strategy. Then list the set of goals that best represent our organization. The following are examples of these strategic goals.
Note: Since the following objectives reflect different strategies, we have provided some ideas on how to customize these examples in each definition.
56 examples of strategic goals to emulate in your organization
Here is a list of 56 strategic goal examples that you can take with you. The definition of all these cases is as follows!
When choosing and setting financial goals, consider what you want to do financially within the time frame of your strategic plan. Examples of strategic goals for this vision are:
Shareholder value growth
Your organization’s main goal may be to increase the value of the organization to your shareholders, stakeholders or owners. Value can be defined in many ways. Therefore, it is necessary to define this goal clearly and precisely.
Earnings per share growth
This goal means that the organization is trying to increase revenue or profit. For public corporations, a common approach to this is EPS. This can be measured quarterly or annually.
Revenue reflects the growth of your organization. Therefore, increasing revenue is a sign of corporate health. By determining revenue from a key part of your organization, you can pay more attention to that part.
On the other side are the income, expenses or expenses of your business. As your organization grows (or shrinks), you need to carefully manage your costs. Therefore, this goal may be important to you.
Maintain proper financial leverage
Many organizations use debt and lending – other words for financial leverage – as a key financial instrument. There may be an optimal amount of debt that you want to maintain.
Ensure the optimal rate bonds ( Favorable Bond Ratings )
For some organizations, bond rating is a sign of financial health. This is a good goal, which helps the public sector scorecard as a management tool to implement its strategy. Balanced Scorecard is an integrated framework for balancing financial and strategic goals that helps break down the organization’s performance metrics into independent business units and divisions.
A balanced budget reflects the order of planning, budgeting and good management. This is also a common occurrence in the public sector or within the departments or units of other organizations.
Ensure financial stability
If your organization is growing or has an uncertain economic environment, you need to make sure it stays financially stable. Sometimes that means looking for sources of revenue or managing expenses to suit your performance.
This is a sustainable high-level goal that shows the balance between revenue and cost. If your organization is investing in growth, you may be looking for something like this to control your investment.
Diversification and growth of revenue streams
Some organizations make money from multiple sources or products and services. They set a goal for revenue growth in different areas to ensure that the organization is sustainable and does not run the risk of relying solely on one revenue stream.
Note: Using a strategic plan dashboard gives organizations the ability to visually demonstrate their progress toward important goals.
When you look at examples of a business customer’s goals, you see that they are often written as general and broad customer goals. Sometimes these goals are written as a phrase or statement that customers usually use to talk about your product or service.
Best value for money
This means that your customers know that they are not buying the most expensive product or service or even the highest quality; Rather, their purpose in buying is to make the best deal. This may mean that your customers are paying less than average and buying goods that are average or above average.
Extensive product offering
This goal can be achieved if your strategy is based on being able to offer the best product in your category to the customer regardless of price. In the hotel industry, for example, this goal could be a four-season strategy or a luxury hotel (Ritz Carlton).
Reliable products / services
The goal that your organization is proud of is the reliability of its product or service, when it comes to targeting customers who also pay close attention to this goal and value. For example, an airline may have gained this confidence among its customers due to its timely flight times feature, or a printing company may be known for its high quality print output.
Mutual sales of more products
Some organizations, such as banks or office product companies, focus on selling more products to the same customers. This strategy confirms that you already have a customer; But you can make money by selling more to them.
Increase market share
This customer strategy focuses on selling to more customers. Therefore, it increases market share. For example, if your organization is a Landscape Company, you are more likely to be trying to reach more households and customers, or if your organization is a hospital, you are more likely to want more local people for your services. To use.
Increase wallet share
This customer strategy is focused on buying more of the same customers. For example, if you sell fertilizer, you want each customer to buy a higher percentage of fertilizer from your organization than your competitors.
Partner with customers to provide solutions
This strategy reflects the intimacy of the customer. As part of this strategy, you can provide service-oriented solutions or ask customers to engage with your organization in the R&D process. Participation comes at a cost; But it also makes the customer more loyal to your organization.
Provide the best services
This strategy shows that you want your customers to do business with your organization easily. Even if you have similar products to your competitors, it is possible that customers will decide to work with you because your service is better.
Understand customer needs
This goal continues to reflect the customer intimacy strategy. In this case, the customer feels that you understand his needs. Therefore, they choose the products and services of your organization; Because your organization is suitable for responding to a specific customer problem or situation.
Insights and insights usually focus on the processes in which your organization should excel. According to Michael Treacy and Fred Wiersema, who have written extensively on this topic, this example of business strategy processes can be divided into three areas: innovation, customer intimacy (service), and operational excellence.
The most innovative products / services
This goal is for organizations that are proud of their continuous and advanced innovation. You must first define “innovation” and how to innovate in each specific area.
If you are in an environment where the customer cannot tell the difference between your organization and another organization’s product, your organization may use this goal. In this case, you are asking your organization to either develop new services around the product or introduce another new feature of product or service differentiation.
Investing in innovation
Organizations sometimes use this goal to drive investment in research and development or other innovative activities. This goal is used as a strategy when you make a change in your investment to create innovation.
Growth of sales percentage of new products
Similar to investing in innovation, this goal focuses on the outcome that your organization hopes to achieve. This factor forces you to constantly innovate even on your most successful products.
Improve and focus on research and development
This goal focuses on specific innovations. If you are an organization with multiple product lines, you may want to focus your innovation on a specific product line. Calling in this direction and in smart ways can be very useful in your goal.
Gain new customers through innovative offers
This goal is achieved because of your focus on innovation. For example, you may be innovating to enter a new market by attracting customers that you cannot reach with your current offers.
Excellent customer service
Defining excellent customer service in your organization is a way to set the standard and communicate within the organization. For example, do you want to strengthen your call center or FCR so that more customers can solve your problem from the very first call, or do you focus on telephone or workplace support?
Improve customer service
When your organization is having trouble providing the right customer service, you may want to improve your service and focus on it. Your company’s problem is probably in a specific area. Therefore, you should pay attention to that part of the relevant field or consider special support for it.
Invest in customer management
This goal is usually used when your strategy is more focused on customer management processes than you have in the past.
Partner with the customer to design solutions
Some organizations focus on building close partnerships with their customers. If your business is an architecture firm or a custom software company, this can be a good goal to ensure that you work with your clients to design important solutions.
Improve customer satisfaction
Customer satisfaction is critical to your company. This may be a good goal to keep working. Because this is a general goal, the definition of your organization should focus more on the specific areas of satisfaction that you are focusing on.
Improve customer retention
If your organization wants to focus on retaining current customers, this goal can help you a lot. In this case, you are likely to set up actions and projects to help you maintain some activities.
Create and use a client database
This is a specific goal focused on implementing a large project such as a customer relationship management system that may take years to complete.
Annual reduction of a certain amount of expenses
This goal focuses on reducing costs (usually for the costs of a product or service you provide) to have a greater impact on your particular product or service. This can also help reduce the cost of your entire organization.
Reduce wastefulness and futility to a certain extent
If your organization uses a lot of raw materials, the usual goal is to reduce the waste and waste of time from this process. This goal usually also results in significant cost savings.
Investing in Total Quality Management (TQM)
Comprehensive quality management is a process to improve quality that makes things more efficient and effective. This goal is used in organizations that implement or are implementing TQM.
Reduce error rates
This goal applies to organizations that have many iterative processes. This goal sometimes leads to Six Sigma projects. Six Sigma is a comprehensive and flexible system for achieving, maintaining, and maximizing organizational success that, if used rationally, will improve process performance. As a result, in this case, the focus is only on defining the processes so that employees can adhere to these processes.
Improve and maintain workplace safety
If your organization uses heavy equipment, chemicals, mechanical parts or machinery, focusing on workplace safety is a good goal. Improving this situation can also reduce costs and increase job satisfaction.
Reduce energy consumption per unit of production
If your organization uses a significant amount of energy, targeting to reduce that amount can be an effective and important strategy.
Use of physical facilities
In retail organizations, this goal can mean focusing on the right place to sell, such as a shop or store, or it can mean finding and using underused assets or selling / renting them out for others.
Simplify core business processes
Many complex organizations have very long and continuous processes that have been developed over the years. If your organization is paying attention to these processes, this factor can be a key goal for you.
If your organization has low reliability, having such a goal encourages management to focus on investments and changes in processes that can increase that reliability.
Ensure compliance with the rules
In a structured environment, there may be many rules you must follow; Even if they do not seem strategic. They are often called strategic goals to ensure that no one is breaking the rules.
Increase workflow and retrieve rules
This is an obvious goal; But sometimes it can be applied in all aspects to prevent waste and help save (time, time, energy, etc.). Depending on the organization, there are many agreed upon rules that will help to make this happen.
Improved reporting and transparency
Organizations that are new to the regulatory environment or trying to change their business model to meet the needs of the contract may find that they need to modify or change their reporting method to better account for their costs or more transparent actions. .
Increase information in the community
For some organizations, it is important to be seen as part of society. This is especially true of organizations that either sell essential goods in the community or generate any kind of negative output such as pollution.
Control framework optimization
If you are a structured organization in a motivational environment, you may need to make sure you have the right tools for control to prevent sudden or systematic fraud.
Learning and Growth Goals (L&G)
Learning and growth goals focus on organizational skills, culture and capacity.
Improving technical and analytical skills
With the increasing advancement of computers and technical innovations affecting all industries, the acquisition of technical and analytical skills is a common goal for some organizations. Hence, many organizations set this strategic goal in their agenda.
Improve a particular skill
This goal emerges if an organization is affected by a new competitive environment or is trying to reach a new market. This particular skill will be specific to the organization itself and will also be seen in organizations with an older workforce without the right tools who are thinking of replacing highly technical skills in the organization.
Create a performance-based culture
This goal can be used if your organization is trying to change its culture to a local culture and is more focused on performance management or incentives. This goal is very evident in governmental and non-profit organizations.
Improve productivity by using teams with multi-functional maps
Large companies view the increase in joint ventures positively and want to encourage employees to do so. For example, a bank with multiple products or a multinational corporation with multiple business lines may use this target.
Invest in tools to increase employee productivity
If your organization has the right staff; But it does not have the right tools, this may be an important goal for that organization.
Improve employee retention
This goal is common in learning and development and may focus on skills, culture, pay, and the entire work environment.
Attract and retain the best people
This is a good “starting point” if your organization is just starting out with a Balanced Scorecard. Ultimately, you need a good program for hiring people, the number of hires required, and the biggest challenges in retaining talent. You can then act more specifically by addressing these challenges.
Build high-performance teams
If teamwork is critical in your organization, consider this goal; But be aware that measuring it can be difficult. So, you have to think about whether you encourage team members and lead them to teamwork?
Maintaining balance and coordination in the organization
Some companies have a high demand for alignment and alignment in the organization, which can be seen through having common goals or joint incentive programs that aim to regulate and balance the organization.
Develop leadership skills and team potential
Many organizations know that they have great potential in hiring skilled people; But they do not develop these people as good leaders. If your organization aims to develop leadership skills in the team, it should pay attention to this goal.
What is the next step?
Don’t stop at goals. When deciding on your organization’s goals, make sure the key performance metrics (KPIs) and initiatives needed to implement them are identified. These strategic elements help measure progress and are responsible for your success.