A good strategic goal is specific, measurable, achievable, relevant, and time-bound (often referred to as SMART).
Here’s a breakdown of what makes a strategic goal effective…
1. Specific – A good strategic goal is clear and specific, clearly defining what needs to be achieved. It avoids ambiguity and provides a clear direction for action. Specific goals answer the questions of who, what, where, when, and why.
2. Measurable – A good strategic goal is measurable, meaning that progress toward achieving the goal can be quantified and tracked over time. Measurable goals provide concrete criteria for evaluating success and enable organizations to monitor progress effectively.
3. Achievable – A good strategic goal is achievable, meaning that it is realistic and attainable given the organization’s resources, capabilities, and constraints. While ambitious goals can inspire motivation and drive performance, they should also be feasible within the organization’s capacity.
4. Relevant – A good strategic goal is relevant to the organization’s overall mission, vision, and strategic priorities. It aligns with the organization’s values, objectives, and long-term aspirations, and contributes meaningfully to its success and sustainability.
5. Time-bound – A good strategic goal is time-bound, meaning that it has a defined timeframe or deadline for achievement. Setting deadlines helps create a sense of urgency, accountability, and focus, and provides a clear timeline for tracking progress and making adjustments as needed.
Example of a good strategic goal
“Increase market share in the Asia-Pacific region by 15% within the next two years by expanding distribution channels, launching targeted marketing campaigns, and enhancing customer engagement initiatives.”
This goal is specific (increase market share in a specific region), measurable (15% increase in market share), achievable (through specific strategies and initiatives), relevant (aligned with the organization’s growth objectives), and time-bound (within the next two years). It provides clear direction and criteria for success, enabling the organization to focus its efforts and resources effectively.
