Creating Objectives

Setting Goals

The major outcome of strategic road-mapping and strategic planning, after gathering all necessary information, is the setting of goals for the organization based on its vision and mission statement.

A goal is a long-range aim for a specific period. It must be specific and realistic. Long-range goals set through strategic planning are translated into activities that will ensure reaching the goal through operational planning.

Setting Objectives

An objective is a specific step, a milestone, which enables you to accomplish a goal. Setting objectives involves a continuous process of research and decision-making. Knowledge of yourself and your unit is a vital starting point in setting objectives.

Strategic planning takes place at the highest levels; other managers are involved with operational planning. The first step in operational planning is defining objectives - the result expected by the end of the budget (or other designated) cycle.

Setting right objectives is critical for effective performance management. Such objectives as higher profits, shareholder value, and customer satisfaction may be admirable, but they don't tell managers what to do. They fail to specify priorities and focus. Such objectives don't map the journey ahead - the discovery of better value and solutions for the customer.

The objectives must be:

• Focused on a result, not an activity

• Consistent

• Specific

• Measurable

• Related to time

• Attainable

Applying Feedback Analysis

Undertake a feedback analysis to compare actual results with expectations. Whenever you take a decision or action, write down what you expect to happen. Review results at regular intervals, and compare them with expectations. Use this feedback analysis as a guide.