Business Goals - Strategic, Tactical, Objectives

Goals:

Goals act as a target, focusing the energy and efforts of a group of people. 

They motivate people and act as measuring sticks (real progress vs the goal). 

They can be financial or non-financial.

Goals also increase commitment as staff internalise the goals as their own.

Effective goals must be SMART—Specific, Measurable, Achievable, Realistic and Time-bound. Ineffective goals lack definition, are hard to measure, are neither achievable nor realistic and have no time attached to their completion.

• Strategic Goals: Big picture destination and plan of action typically set by higher management and leaders

• Tactical Goals: Smaller incremental step to deliver on a strategic goal - typically set by middle management 

• Objectives: Objectives are smaller, functional, specific items that must be completed in the short-term. Objectives can be daily, or weekly.

Having objectives enables a business owner to break down larger goals into smaller units that are more manageable. 

Small efforts daily will result in large changes over time.