Do you know the difference between a goal and an objective?
As a consultant, I have the fortunate opportunity, or misfortune depending on your perspective, to review many organizations’ goals, objectives, and supporting initiatives. Despite the size of the organization, it’s obvious that most organizations large and small, public or private don’t understand the difference between a goal and an objective.
For some reason, unknown to me, this drives me crazy. I expect most business people, especially senior level executives to use the terms goal and objective correctly. Perhaps it’s my deeply held belief that in order for organizations to achieve success they have to be able to effectively communicate their goals and objectives and that these goals and objectives will be cascaded down through the organization. Silly me.
Goals can be described or defined as “Outcome statements that define what an organization is trying to accomplish both programmatically and organizationally.”
As an illustration, some common business goals are, grow profitability, maximize net income, improve customer loyalty and etc. Notice the brevity of these statements.
A goal is where you want to be and objectives are the steps taken to reach the goal.
Labels: Balanced Scorecard, strategic planning, Strategy
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