Let’s continue constructing our strategic plan. Remember that in my last post I explained the first element we must define: mission and vision statements. Once we have defined these two elements we can continue establishing the strategic objectives.
The strategic objectives are more punctual elements that map the way in order to be and obtain what we have stablished in our mission and vision statements. If for example we are a professional association and in our mission or vision we have defined we are going to contribute to the growth of the economy of our country as our industry growths, one of our strategic objectives can talk about generating knowledge in our subject because companies that are qualified will grow and contribute to the economic growth.
When we talk about strategic objectives it is very important to take into account two aspects. The first one is that as it indicates these are strategic. Therefore, we should not be tempted to write tactical objectives. The second aspect is they should be SMART: specific, measurable, achievable, result-oriented and time-limited.
Finally, one last advice. The idea is not to have a million strategic objectives that make difficult the execution and everyday activities. These objectives must be concrete and focused in what your company wants to achieve. You should have between 6 and 12 strategic objectives. Maybe a little more or a little less according to the type of company, but one again avoid the temptation to fill with strategic objectives you are not going to be able to fulfill. And also take into account that if you are going to periodically analyze your strategic plan you will find that some objectives are not important anymore and that you must change them for others that have become more relevant.
Remember that on my next posts I will continue talking about this important subject for companies.
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