3 Steps to Identify the Right Strategic Goals for Your Company

 #Strategy

Do your list of objectives look like they exist in a black hole?

“Your thinking must shift to be outside-in if you are to produce successful strategic objectives”, states Graham Kenny.

Tip of Week comes from Graham Kenny, CEO of Strategic Factors. Kenny is a recognized expert in strategy and performance measurement. In his article 3 Steps to Identify the Right Strategic Goals for Your Company,  he offers advice on how to use clearly defined and measurable objectives when setting up your strategies.   Key strategies aimed at creating competitive advantage in the marketplace.

Do you dislike those long-winded brainstorming sessions that produce lists that have more wrong with them than right? Instead, Kenny suggests switching your focus to learning who your key stakeholders are — and what you want from them. Build your objectives around your stakeholders, and look for what the organization is ultimately trying to accomplish, this can help you to gain the clarity you seek.

Key performance indicators or KPIs

 “There are only three ways to measure results in business and they can be neatly summarized by three symbols: $ (or the local currency), # (number of), and % (percentage)” ~Graham Kenny.

Objective-Setting.

Focus on learning who your key stakeholders are — and what you want from them. Kenny presents three Steps:

Step 1: Identify a behavioral outcome for each stakeholder group.

Step 2: Convert behavioral outcomes into organization objectives.

Step 3: Identify measures.

By anchoring organization objectives you gain more clarity and it helps everyone think clearly about what they need to do.

Something every CEO should read, and share with their team(s). I highly recommend this article. 3 Steps to Identify the Right Strategic Goals for Your Company

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