When we define the vision statement, we should include specific goals and objectives.
Goals help companies define what they want to achieve while objectives are the specific actions to achieve the goals.
By setting goals, managers commit themselves to a concrete course of action that would allow them to accomplish the company's vision.
Goals can target many areas like growth, profitability, retention, efficiency or customer service. Usually, goals are expressed as a percentage. When considering financials, a company's goal could be to increase revenue and decrease overheads.
Example:
Increase revenue by 10% and decrease overheads by 5% in 2019.
An example of an objective that will help you achieve a 10% increase of sales is "to acquire 5 new customers every month."
Reducing overheads can be achieved by finding new and less expensive office premises ("find cheaper office premises") or outsourcing activities. Both are specific objectives that might allow a firm to reduce its overhead by 5%.
Goals help companies define what they want to achieve while objectives are the specific actions to achieve the goals.
By setting goals, managers commit themselves to a concrete course of action that would allow them to accomplish the company's vision.
Goals can target many areas like growth, profitability, retention, efficiency or customer service. Usually, goals are expressed as a percentage. When considering financials, a company's goal could be to increase revenue and decrease overheads.
Example:
Increase revenue by 10% and decrease overheads by 5% in 2019.
An example of an objective that will help you achieve a 10% increase of sales is "to acquire 5 new customers every month."
Reducing overheads can be achieved by finding new and less expensive office premises ("find cheaper office premises") or outsourcing activities. Both are specific objectives that might allow a firm to reduce its overhead by 5%.