Strategic Goals

Strategic Goals

Strategic Goals Jonathan Poland

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%.

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