Phase Three: Long & Short-Term Goals
At this point we are ready to start laying out organization-wide goals. We're going to divide these into two categories, Long-Term and Short-Term.
Your long-term goals will investigate the continuous social and financial health of your organization. When creating these goals ask questions like the following:
- What are our shareholders' expectations for our financial performance or social impact?
- What is our customer value proposition?
- What processes do we need to excel at to deliver our products and services?
- What organizational structure, capabilities, and skills must we have to operate?
With the financial aspect of these goals, you will want to aim your organization towards a sense of growth. Make sure to include you anticipate any expenses that may come with growth!
When addressing your short-term goals dividing them into OKRs (Objectives and Key Results) can help make achieving them more practical. We recommend that these OKRs have a timeline of one to three years. These OKRs should address questions like:
- How are we going to meet our strategic objectives at a support function level or department level?
- Who is responsible for what and by when to accomplish and drive the company-wide goals?
With the OKRs, set Key Performance Indicators (KPIs) to help ensure your goals are on track. Using KPIs to measure the Key Results of your OKRs can make sure there is nothing lost in translation when obtaining your success. After these are created, ensure each department and team involved understands what is expected of them, we recommend checking back every 90 days to make sure everyone is on track.
You've come this far, it's time for the final phase, Phase Four.
