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Strategic objectives are statements that indicate what is critical or important in your organizational strategy. In other words, theyâre goals youâre trying to achieve in a certain period of timeâtypically 3-5 years. Your objectives link out to your measures and initiatives. Â Objectives are a key part of your Balanced Scorecard -- along with measures and initiatives.
This list of strategic objective examples should help you think through the various types of objectives that may work best in your organization. Youâll find all 56 of them categorized below by perspective and/or theme. Before we dive into the examples, letâs talk about how to choose the right ones for your organization. Once you have your list of objectives, you may want to consider choosing a software tool to help you track your progress.
ClearPoint Strategy offers a powerful platform designed to help you create, manage, and track your strategic objectives effectively, ensuring that your entire organization is aligned and focused. Our software offers intuitive tools that simplify the creation and management of strategic objectives, helping you monitor progress and ensure that your initiatives are on track.
Hereâs some practical advice based on years of experience: Donât put 56 objectives in your scorecardâthatâs too many. You need to pick and choose. We recommend no more than 15 objectives maximumâyou can read more about creating them here. But how do you know which objectives are right for your organization? It depends on your industry and your strategy.
Use this list of objectives to brainstorm whatâs most important for your industry and your specific strategy, then build a set of objectives that best represent your organization.
What business are you in? If youâre operating in a fast-growing industry like IT, technical services, or construction, you should choose objectives that match your growth goals and include movement in a positive direction.
For example, those might include launching a new product or increasing gross revenue within the next year. If youâre in a slow-growing industry, like sugar manufacturing or coal-power production, choose company objectives that focus on protecting your assets and managing expenses, such as reducing administrative costs by a certain percentage.
Whatâs your strategy within your industry? Two similar businesses in the same industry can have two very different strategies. Your strategy will determine the objectives you set as much as your industry. (Here are 6 expert tips on strategic planning to consider as you're going through the process.)
To further explain, hereâs a business objectives example based on strategy. Think of two financial services companies: Goldman Sachs and E*TRADE. Both handle customer finances and investments, but (generally speaking) Goldman Sachs prioritizes high-touch, personal relationships, while E*TRADE values high-tech, self-service relationships. As a result, the two organizations undoubtedly have distinct objectives.
From a marketing perspective, Goldman Sachs might focus on referrals and connections, and E*TRADE on social media and customer service automation. Or from an HR perspective, Goldman Sachs could set objectives based on retention and client relationships, and E*TRADE on technical skills and product development.
Your business could have the same mission and purpose as another, but if it takes a different approach to achieve that purpose, you should have a unique set of strategic objectives.
Itâs not uncommon to hear that municipalities or agencies donât really have a strategy, but thatâs a myth. If you look more closely at individual cities, youâll see that some are growing quickly...and some are not. Cities with strong growth have chosen strategic objectives based on their specific socioeconomic situation. Yesâvirtually all municipalities have goals based on balancing the budget and improving safety.
But the most successful cities refine those high-level objectives. Does the city-planning portion of the budget need more focus than public utilities? Is street crime or retail crime more of a safety issue? Choosing objectives that function as answers to questions like these is the most strategic (and successful) approach for cities.
Itâs also important to note that a municipalityâs strategy must be specific to its economy and population, and it must be diverse. Goals cannot all be focused on a single source of revenue, such as tourism or manufacturing. For example, cities along the Gulf Coast have realized that when an oil spill occurs, a reliance on tourism is detrimental. They need a more resilient economy to build a healthy community.
In short, municipal objectives should be diverse enough to withstand economic and environmental shifts.
The healthcare industry is constantly changing. However, itâs crucial for healthcare organizations to continue to deliver effective, reliable care even as certain outside factorsâmedical practices, technology, and government regulationsâevolve.
So, although healthcare organizations canât always predict (or control) the future, strategic planning is the best way for them to set a course for excellence while taking into account possible changes that may occur in the years ahead.
Economic trends, government policies, and technological advancements can help provide context for healthcare objectives, but each organization needs to consider what it would like to accomplish strategically. You obviously want great health outcomes, but where do finances fit in? And what about your staff, skills, and technology?
For example, you may have an objective to optimize the use of real-time data to improve patient care but also have additional goals to develop a comprehensive employee wellness program or build trust in the community by improving your communications. Safety, quality, patient satisfaction, people, and finance are all areas of significance to consider.
Below is a handy list of the 56 strategic objective examples; there are detailed definitions in each section.
While you can certainly use these for inspiration, we donât recommend simply duplicating them for your strategy without putting in some thought. Use this list of objectives to brainstorm whatâs most important for your industry and your specific strategy. Then, build a set of objectives that best represents your organization.
âNote: Because the below objectives reflect different strategies, weâve provided a few ideas on how you can customize these examples in each definition.
Financial objectives are typically written as financial goals. When selecting and creating your financial objectives, consider what youâre trying to accomplish financially within the time span of your strategic plan. Examples of strategic goals for this perspective include:
While all of the above objectives are valuable for maintaining a stable financial base for your organization, the most obvious strategic levers are:
However, other objectives may be more applicable, particularly if your organization is not driven by the need to be profitable but simply looking to improve its financial position. Consider your needs carefully; do you want to become more financially self-sufficient or maybe maximize your resources? These motivations should drive the financial objectives you choose.
When looking at examples of a businessâs customer objectives, youâll see they are typically written like customer goals. Sometimes they are written in the form of a phrase or a statement that a customer would say when talking about your product or service.
These three objectives indicate the most basic needs customers want an organization to fulfill:
However, you have to understand your own customers in order to make them happy. So, to choose your customer objectives, think about what your customers are looking for specifically and set your objectives accordingly.
The internal perspective is typically focused on processes that your organization must excel at. According to Michael Treacy and Fred Wiersemaâwho have written extensively on the topicâthese examples of business strategy processes can be divided into three areas: innovation, customer intimacy, and operational excellence.
All of the objectives from the above list help measure innovation in a general sense. However, there are countless ways to innovate; your objectives should reflect your specific approach. Maybe youâre trying to hit a performance target with your product or improve the quality of a particular product or service, for example. Express your desired innovation goal in whatever way is best for you.
Creating customer service objectives is a way to ensure your organization continuously maintains focus on this crucial area. In addition to the objectives listed above, consider which aspects of customer service are most relevant to your organization. You may want to improve your customer chat functionality, or, if you sell a software product, improve your customer onboarding process. The smoother your internal processes, the happier your customers.
Sometimes, objectives for operational excellence can be too vague, referring to âexcellentâ or âworld-classâ processes or âhigh-performingâ teams. All of the above goals are specific and tied to various aspects of performance. And while you might be tempted to skip over operational excellence goals altogether, itâs important to invest time and resources in this area! Efficiency and cost-effectiveness are key to staying competitive, and achieving these objectives can have a positive impact on your companyâs growth.
If your organization is part of an industry where regulations apply, creating regulatory-related objectives not only helps you stay in compliance but can also help you grow. (Finding a better way to stay informed about new regulations could be an objective itself!) Goals in this area could apply to anything from increasing accountability to implementing risk management plans to streamlining compliance processes.
Learning and growth objectives focus on skills, culture, and organizational capacity.
Learning and growth objectives support the employees responsible for carrying out your strategy, which makes this category of objectives extremely valuable. Classic objectives in this area are:
However, to make the most of these goals, first, take time to evaluate the specific capabilities required to deliver exceptional performance in your organization. Doing so will help you formulate more specific goals that will give your team the capabilities it needs to support your companyâs growthâand improve employee satisfaction at the same time.
If you have questions about which of these strategic objective examples may work for you, drop us a line. Weâre happy to help.
Looking for strategic objective examples to inspire your companyâs success? ClearPoint Strategy provides the ultimate tools to define, track, and achieve your strategic objectives. Our comprehensive software simplifies the process of setting clear goals, monitoring progress, and ensuring alignment across your organization.
Transform your strategic planning and drive impactful resultsâbook a personalized demo with ClearPoint Strategy today and see how we can help you turn your objectives into achievements.
Ted is a Founder and Managing Partner of ClearPoint Strategy and leads the sales and marketing teams.