Strategic goals are the specific outcomes that an organization or individual hopes to achieve through their strategy. The strategic planning process typically begins with the identification of these goals, as they provide the foundation for the rest of the process. Without clear goals, it is difficult to develop a coherent and effective strategy. Strategic goals should be specific, measurable, attainable, relevant, and time-bound, and should align with the organization’s or individual’s overall mission and vision. By setting and pursuing strategic goals, an organization or individual can increase their chances of achieving their desired outcomes and succeeding in a competitive environment. The following are illustrative examples of strategic goals.
Revenue
Grow revenue by 11% to $14 million per year.
Overhead Cost
Reduce human resources overhead by $600,000 a year.
Unit Cost
Reduce the unit cost of our 300 watt solar panel modules to $190.
Productivity
Increase productivity to $157.50 per hour.
Efficiency
Decrease the water used per ton of apples by 22%.
Waste Reduction
Transition all internal logistics to reusable packaging to reduce wasted materials by 27 tons per month.
Business Capabilities
Develop a tool that forecasts future surplus stock levels based on current sales trends. Goal: increase inventory turnover by discounting unpopular colors earlier in the sales cycle.
Return on Investment
Construct and operationalize 7 data centers with a 5 year return on investment of 270%.
Risk Reduction
Diversify our partnerships to reduce the risk of a revenue disruption due to a dispute or issue with a partner. Goal: reduce risk exposure by 50% or more.
Process Improvement
Improve the quality control process to reduce customer detected quality issues at unboxing to undetectable levels.
Competitive Advantage
Develop a competitive advantage over the other souvenir shops on the street by securing prime locations near the temple and station.
Market Penetration
Capture 12% market share for ice cream products in the Eastern United States.
Diversification
Reduce concentration risk by diversifying into new types of crop. Goal: 40% of revenue from non-corn crops.
Sales Volumes
Increase sales volumes to 1 million units a month within 5 years.
Customer Acquisition Cost
Reduce customer acquisition cost to $1550 for private banking clients.
Customer Lifetime Value
Increase customer lifetime value to $650,000 for private banking clients.
Customer Satisfaction
Increase patron satisfaction with library services to 80%.
Organizational Culture
Instill the norm that employees not overbook meeting rooms that go unused. Goal: Improve room utilization to at least 90%.
Throughput
Increase the throughput of the Chicago call center to 29,000 calls a day.
Service Quality
Improve the accuracy of billing to 99.1% or greater for telecom customers.
Service Performance
Reduce the turnaround time for room service to 12 minutes.
Product Quality
Improve the durability of our down jackets that are known to have issues within a month of purchase. Goal: a product designed to last at least 3 years with regular wear.
Work Quality
Improve code delivered to testing. Goal: a 50% reduction in defects per thousand lines of code.
Time to Market
Improve the time to market for new shoe designs to 88 days.
Innovation
Design a delivery drone that is completely silent and requires no cameras for navigation.
Brand Recognition
Improve brand recognition to 13% of target market.
Brand Image
Improve the percentage of customers who view us as a “luxury hotel” to 40%.
Employee Satisfaction
Increase employee satisfaction score to 62%.
Employee Retention
Reduce one year attrition of top performing employees to 8%.
Recruiting
Recruit a development team for the tariff agreement monitoring system.
Compliance
Reduce trans fats to undetectable levels in all products.
Sustainability
Reduce our use of agricultural chemicals by 50%.
