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Monday, April 30, 2018

In Business it is Necessary to Make Goals and the Steps to Achieve Them

Business strategy is about setting goals and then finding the pathways to achieve them. Those goals should be based on the long term strategies of the organization and the best position to maximize shareholder wealth. Setting goals is not something to be taken lightly and requires us to consider the capacities of the organization and its ability of changing and adapting.

I have seen organizations set goals that don't seem to make any sense and waste a lot of time and energy chasing their tails for something that doesn't have much benefit. It is important to ensure personal goals of owners clash with the long-term needs of the organization.

Goals should actually be achievable. While not all goals need to be easy they do need to be within reach. This isn't easy if you don't have a thorough understanding of your organization. There will need to be some research both before and after goal setting.

Once the goal is set you will then need to create the steps that will allow those goals to be achieved. Each step step should fit within a context of other steps that eventually lead to goal achievement. Sometimes it will be necessary to talk with managers to understand what steps they can actually contribute.

As you move to achieve your business goals you will have to be mindful of the need to adjust your methodology. Sometimes the steps you are using are not the best ones out there. You may have to research and ask a lot of questions. Sometimes you will need to use feedback loops and metrics to ensure you are on the right path.

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