What Are Strategic Objectives?

Strategic objectives help fulfill an organization’s long-term mission and vision. These strategic objectives ultimately provide direction for the organization, serving as a roadmap to success.

Keep reading to learn more about what strategic objectives are, along with actionable tips to get started.

What Is the Difference Between Goals and Strategic Objectives?

While they are related, goals and strategic objectives serve somewhat different purposes. Goals provide the overarching picture and define the outcomes that must be met. Strategic objectives describe the specific and measurable steps people must take to meet the objectives that have been outlined.

In other words, strategic objectives can be understood as the supporting framework that provides the structure to achieve the overarching goal.

Example

Your organization wants to become a market leader in sustainable technology. This is its goal. To drive towards that goal, you may want to create specific supporting objectives like the examples seen below.

• Increase the renewable energy sector’s market share by 40% within the next four years.
• Invest 30% of the annual budget in research and development. This would allow your organization’s future leaders to become active participants in the sustainability sector.
• Produce two thought-leadership content pieces each year to help elevate your organization and leaders as trusted authorities in the sustainability tech space.

What Is the Purpose of Strategic Objectives?

In any business, it is common to become immersed in daily operational priorities. Strategic objectives encourage leaders to take a step back and reflect on the following questions:

• Are the current projects, initiatives, and discussions being injected with the right focus?
• What adjustments do we need to make to ensure all moving parts better align with the company’s overarching goals?

Let’s expand further by outlining the four purposes and benefits of creating strategic objectives that support the goal:

1. Clarity: Strategic objectives are pivotal in prioritizing initiatives, providing team members with clear direction on focus areas. The objectives they create in support of these goals help people establish defined targets or milestones, enabling the quantification of next steps. This facilitates establishing relevant KPIs and tracking progress towards achieving key objectives and ultimately the overarching goals.

2. Accountability: Strategic objectives establish accountability. The objectives ensure that all key stakeholders contribute to informed decision-making that supports the company vision. Moreover, with relevant KPIs underway, all team members can oversee the development of the metrics and make necessary adjustments.

3. Alignment: While 82% of professionals feel strategic alignment within their company, the reality is that actual alignment is only 23%. Strategic objectives can help address this gap.

When all company initiatives align with the overarching vision and goals, teams operate more efficiently and make impactful decisions. Team members can identify optimal ways to allocate and leverage resources. Organizations gain access to informed risk management, enabling better prediction of potential impacts from decisions and market shifts.

4. Advancement: Clear communication, accountability, and alignment help enhance company culture, the tool that has the power to increase net profit by 85% over five years. From a professional-development standpoint, strategic objectives create opportunities for team members and leaders to refine their skills while fostering unity around shared, overarching goals.

How Do You Write a Quality Strategic Objective?

Writing a good strategic objective requires leaning on four key principles:

1. Understand the Purpose

Purpose is the groundwork upon which quality strategic objectives are built. Think about specific initiatives or outcomes required to fulfill your organizational vision. Share these ideas with your colleagues and team members. Receive their input to help you make an informed selection on a specific objective.

2. Make It Measurable

A good strategic objective is one that can be measured. Identify metrics or criteria you will use to measure your incremental progress and success. This will enable you and your team to proactively track progress, make the proper adjustments, and set up your objective for success.

3. Think About Actionable Steps

Every objective entails a series of steps required to achieve that goal. Write out these steps, which will serve as milestones for the objective. Where necessary, jot down designated team members who will be responsible for fulfilling those milestones, along with the desired outcomes.

4. Be Specific and Clear

Using steps 1–3 above, write a specific objective. If possible, the objective should be no longer than three sentences. Keep it clear and concise so the reader will understand exactly what the objective is and how it will be accomplished.

Once written, obtain feedback from team members. The objective statement will likely be further honed during an iteration period. Lean into this process to achieve the quality your strategic objective merits.

How Do You Deliver On a Strategic Objective?

Once you’ve established a strategic objective, it is now time to put it into action and define how it will be achieved.

Delivering on the strategic objectives you’ve defined entails three main tasks:

• Working with team members to solidify responsibilities and deadlines. As each individual has their own projects and priorities, it’s important to conduct a strategic-alignment meeting with your team to discuss and agree on expectations. This is key to ensuring the objective moves along and produces results.
• Monitoring KPIs on a collective platform. Leveraging a project-management system that enables all team members to access an objective’s status or progression is key to nurturing a collaborative and accountable environment. Make sure KPIs and deadlines are noted on the platform.
• Scheduling time for check-ins and feedback. Gallup reports that 80% of workforce members who mention receiving meaningful feedback on a regular basis are fully engaged in their roles or contribution to the organization. Don’t miss out on someone’s development potential; fuel it by delivering useful feedback.

Drive a More Strategically Minded Organization

CMOE’s Applied Strategic Thinking® workshop helps leaders and team members acquire and hone the skills and competencies required to become strategically minded and contribute more value to the enterprise and key stakeholders. This strategic mindset and approach helps inspire and motivate team members and ensures the long-term, sustained success of the organization. Learn about our workshop today.