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%.

Learn More
Progress Trap Jonathan Poland

Progress Trap

A progress trap is a situation where a new technology, which has the potential to improve life, ends up causing harm due to a lack of risk management.

Technology Theories Jonathan Poland

Technology Theories

A technology theory is a broad idea that has significant implications for technology and its effects on society and culture.…

Go-To-Market Strategy Jonathan Poland

Go-To-Market Strategy

A go-to-market strategy is a plan that outlines how a business will introduce its products or services to the market…

Digital Channels Jonathan Poland

Digital Channels

A digital channel is a means of distributing or selling products or services electronically, as opposed to through physical channels…

Product Risk Jonathan Poland

Product Risk

Product risk refers to the potential for negative consequences that may result from the development, production, or use of a…

One Stop Shop Jonathan Poland

One Stop Shop

A one stop shop model is a business model in which a single company or organization offers a wide range…

Data Science Jonathan Poland

Data Science

Data science is the use of mathematical and statistical methods, machine learning algorithms, and other techniques to extract meaning and…

Business Impact Risk Jonathan Poland

Business Impact Risk

Business impact risk refers to the potential negative consequences that a business may face as a result of certain events…

What is Achievement? Jonathan Poland

What is Achievement?

Achievements are the results of efforts that have produced positive outcomes. These outcomes can range from resounding successes to partial…

Content Database

Search over 1,000 posts on topics across
business, finance, and capital markets.

Sales Objections Jonathan Poland

Sales Objections

A sales objection is a concern or hesitation that a customer has about making a purchase. Identifying and addressing these…

What is the Broken Window Fallacy? Jonathan Poland

What is the Broken Window Fallacy?

The broken window fallacy refers to the idea that the economic benefits of destructive events, such as wars and natural…

Strategic Partnership Jonathan Poland

Strategic Partnership

A strategic partnership is a relationship between two or more organizations that is characterized by mutual cooperation and the sharing…

Pricing Power Jonathan Poland

Pricing Power

Pricing power refers to a company’s ability to increase prices without significantly impacting demand for their products or services. This…

Value of Offerings Jonathan Poland

Value of Offerings

Value is a concept that refers to the usefulness, worth, and importance that customers assign to products and services. This…

Turnaround Strategies Jonathan Poland

Turnaround Strategies

A turnaround strategy is a plan to rescue an organization, department, or team that is experiencing failure or underperforming. This…

Bargaining Power Jonathan Poland

Bargaining Power

Bargaining power is a concept in negotiation theory that refers to the relative ability of parties to influence each other…

Market Expansion Jonathan Poland

Market Expansion

Market expansion is a growth strategy that involves offering an existing product to a new market.

Analysis Paralysis Jonathan Poland

Analysis Paralysis

Analysis paralysis, also known as “paralysis by analysis,” is a phenomenon that occurs when individuals or groups become so focused…