Definition of Business objective and goalsHave you set up your goals and objective on your business every quarter, month or daily? If not, here is few information, why it's worth to pay attention for it. Businesses goals and objectives are very important part of the planning process. We can describe what company expect to accomplish throughout the year or quarter. If you are business owner, or maybe just planing to open something new. Here is few types of Goals and Objectives:
Type of objectivesWe can define as many objective as many needs you have, but let's group them to the most popular: Small company's usually have certain sales and profit goals; for increase, they might aim to increase customer counts in store or restaurant. Goal and objective might also pertain to employees. for example: a small electronic shop have plan to hire 25 new employee in this first year. How do you think, what will be next action to achieve this goal? Next step will be define time (deadline) for achieve this goal, and steps: open recruiting process, job announcement, planned interview ect.. We can also define few marketing objective, not only increase sell, or new employee marketing objective it can be also, be more competitive on the market (Awareness).
FunctionLet's say you are owner of small business and have various Goals & Objective to make progress. That what is very important to clearly specific goal, it have to be realistic and measurable. You have to specific time frames, and also communicate very well with rest of your employee to be sure all hard work of whole company is going on the same direction.
Measuring GoalsBefore we were talk about why goals are important, and what kind of role are have in planning process, but beside that very important is tracking the progress, and always take action right on time. To be always updated help measuring the progress. Companies measure goals and objectives over certain the time intervals, using certain variables to report progress. Business might measure sales and profit goals and objectives each week, month, quarter and year. Its important to see procentega increase or decrease of company situation and purpose what will be in the next period time.
PurposeOne of the last element is Purpose. Its nothing else, than smaller goals and objective what you can suggest as a stepping stone for a greater accompaniments. Public business are also expect to report certain statistics, including sales, profits and earnings per share. Companies that are successful n meeting goals and objective can attract more investors or shareholders. Statistics also help companies gauge their success against competitors.
Summary If you want go forward and growth your company we are recommend you to define your clear purpose, on which direction would you like to go with your company. After purpose, set up measurable goals (few bullet point how you want to achieve, what kind of action will you take) and last thing is Measurement - Its important to see, are you going on good direction, or you have to change something - react on real time. if performance going down.This article also might be interesting for you: https://blog.planb-cambodia.com/strategic_management/what-is-strategic-businesses-plan/
How you are measure and achieve your goals, maybe you have some own unique technique - share with us on Comment!