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What are Strategic Objectives Examples?
We've written extensively about how to go about creating good strategic objectives (see this post) - but sometimes, instead of a long blog article, all you need are a few examples of good strategic objectives to get your own creative juices flowing.
If you need broader help on writing a strategic plan, check out our complete guide. We've put together the following list - based on hundreds of successfully executed strategic plans from our very own cloud system Cascade.
We've grouped our examples of good strategic objectives into a series of broad categories (which we call Focus Areas).
So without further ado, here's our list of strategic objective examples!
Strategic Objectives Examples
Focus Area: Financial Growth
- Grow gross revenue to $2m by 31st Dec 2022
- Increase net margin by 15% by 31st Jul 2023
- Reduce net costs by $900k by 1st Nov 2022
- Deliver 3 consecutive periods of monthly recurring revenue (MRR) of $50k by 1st Jul 2023
- Build $1m of reserve working capital by 31st Dec 2022
And here's an example of what not to write when creating good strategic objectives:
- Significantly increase profit in all business lines by 1st Nov 2022
The term 'significantly' is highly subjective - avoid where possible anything that can't be measured - there's really no excuse when it comes to financial goals!
Focus Area: Customer Satisfaction
- Deliver a customer survey overall satisfaction score of 90% by 1st Jul 2023
- Increase average customer product holding to 1.5 products per customer by 1st Jan 2023
- Lose fewer than 2 major accounts per year until 1st Dec 2022
- Win at least 1 industry award for customer service by 1st Jan 2023
- Attract 3 major customers in Asia Pacific by 30th Sept 2022
And here's an example of what not to write when creating good strategic objectives:
- Work with the customer service team to improve satisfaction by 1st Jan 2023
Apart from having no defined target as to what 'improve' means - strategic objectives need to be actual goals, rather than statements of intent!
Focus Area: Innovation/Product Growth
- Launch 3 new products by 31st Dec 2022
- Launch/transition to a cloud service model by 1st Jan 2023
- Establish 4 new major distribution partnerships by 1st Feb 2023
- Ensure that 30% of our approved projects are classed as 'Horizon 3: Blue Sky Thinking' by 1st Jan 2023
- Launch an innovation lab by 31st Dec 2022
And here's an example of what not to write when creating good strategic objectives:
- Become more competitive than our competitors by 1st Nov 2022
Strategic objectives need clearly defined start and end points - define your starting position, set a target increase (in percentage or absolute terms) then state that number as part of your goal.
Focus Area: People/Culture
- Reduce staff attrition to less than 10% per annum by 1st Jan 2023
- Launch a staff engagement/survey program by 1st Mar 2023
- Win a major employer award by 1st Jan 2023
- Implement a flexible working program by 1st Jul 2023
- Hire 3 additional product managers by 1st Feb 2023
And here's an example of what not to write when creating good strategic objectives:
- Improve our workplace culture by 1st Nov 2023
This is far too broad for an example of a good strategic objective and should instead by either part of your Vision or your Focus Areas. Break this down into several actionable goals!
Focus Area: Processes/Operations
- Reduce product return rate to less than 3% by 1st Jan 2023
- Implement a rigorous process of auditing our warehouses by 1st Nov 2023
- Increase sales efficiency to a 20% conversion rate through the use of a CRM by 1st Dec 2023
- Host a quarterly supplier forum with our top 20 suppliers by volume by 1st Jan 2023
- Implement a cloud-based strategy management platform by 15th Nov 2022
And here's an example of what not to write when creating good strategic objectives:
- Be more compliant as a business by 1st Mar 2023
Don't leave room for interpretation in your strategic objectives (unless you actively want to encourage discussion as part of the planning phase) - be specific about what you mean rather than using general words like 'compliance'.
What are your best strategic objective examples?
Hopefully, the above examples of good strategic objectives will help your own thinking in terms of what objectives to create for your next strategic plan.
So long as you keep your strategic objectives clear, concise, specific, and measurable - you won't go too far wrong!
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