Business goals are the way that businesses keep their activities aligned,” said George Westerman, senior lecturer at the MIT Sloan School of Management and CIO award co-chair of the MIT Sloan CIO Symposium.

An organization can set as many goals as it chooses, and it can set goals for the enterprise as a whole and for individual units within the organization. Business goals can also be broken into short-term goals, midterm goals and long-term goals.

Start with mission and vision statement

A vision statement focuses on tomorrow and what an organization ultimately wants to become. A mission statement focuses on today and what an organization does to achieve it.

A vision statement is a short description of an organization’s aspirations and the wider impact it aims to create. It acts as a guiding beacon to those within the organization, as well as something that sets the ground for internal decision-making and determines the intended direction of the organization

The first approach to specifying goals and objectives begins with a review of your company’s mission statement. Using key phrases from your mission statement to define your major goals leads into a series of specific business objectives.

This would make sure that the goals that are being made aren’t far from achieving what the company plans to achieve, to avoid the fact that someone could be working against the goals of the company.

Identify your target market

After the vision and mission statement has been visited, then a business model should be visited but in the absence of one, then it would be nice to identify our target audience, the business model helps one to identify the unique selling proposition, The Business Model Canvas consists of nine essential parts: Customer Segments, Value Proposition, Revenue Streams, Channels, Customer Relationships, Key Activities, Key Resources, Key Partners, and Cost Structure.

But for the purpose of this context, we need to look at the customer segment or the target audience, when we know the people who our visions are designed to help, it becomes easy to set goals that would help the business to serve those that they were called to help or produce their service for.

Set Smart Goals

Smart Goals are Specific, Measurable, Attainable, Realistic, Time bound.
After the customer segment has been selected, and the vision and mission statement has been consulted as well, then it becomes easier to set Smart Goals that are aligned to the vision and mission of the company, and a goal that would be in line with serving the customer segment and target audience.

Assign tasks to employees

Let the goals be broken into small attainable tasks, and assigned to employees based on their roles, in management, we have three different levels of carrying out tasks, strategy, tactical and operational

The top level management breaks the goals into strategies, while the tactical management, middle level management breaks the strategies into tactics that can be operated upon daily, hourly or monthly while the employees carry out the day to day operations that makes the tactics functional.

Set Milestones and Deadlines

After the goal has been broken down into strategies, milestones should be set in place, milestones like how many customers the business hopes to bring in, how many sales they hope to make monthly, the profit they hope to make.

Like all smart goals, it has to be time bound, this was give a little pressure to those who are working on the goals to achieve them faster than they had already hoped to, because if it was agreed that it could be attainable within a time frame, then it should have a deadline by which it should have be accomplished and achieved.

Review and Revise the goals

If after a period of time, the goals haven’t been achieved, then it would be nice to review them and see if there is a need for adjustment, recalibration.

Any goal that has lingered more than necessary either has to be reviewed to see if it really was attainable or revised to see if the strategies put in place was actually strategic for achieving that goal.

When all steps have been put in place, then watch how your business goals would be achieved and accomplished in no distant time.

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