Audit of Business Goals/Strategy

BUSINESS GOALS
A goal is a statement that clearly describes actions to be taken or tasks to be accomplished by a company, a department or an individual. A business will have a number of goals, each describing a desired future condition toward which efforts are directed.

If the goals are accomplished, then the business should be a success

COMMON CHARACTERISTICS OF BUSINESS GOAL

Derived from the mission statement
Task-oriented

Short term
Specific Challenging

Derived from the mission statement:

The starting point in writing business goals is to ask "what do we need to do to accomplish our mission." In other words, a mission statement says "what" and business goals say "how".

GOAL SETTING FOR BUSINESS

Goal setting is the absolute first step in achieving business success. Before you set out on your business journey you should decide where you are going. From one perspective the only way you can achieve business success is to set your business goals first. Because your business goals will help you set your business direction and they will let you know when you have arrived.

Goal Setting is crucial to business success. The approach to business goal setting varies between a large business and an owner operated business.

 Your business goals need to be supportive of your personal goals because if your business and personal goals are not compatible not only will you have trouble achieving your goals but the incongruence will consume enormous energy and create discomfort.

You are likely to find that your business is one of your key vehicles for achieving your personal goals.That way, you can maximise your returns from the business both in financial terms and in non financial terms.

 Every large corporation has clearly set and articulated goals to drive the company forward. Yet, in the world of small business, many businesses lack a focused goal. Get more business is a typical reply of small business owners when asked of future plans.
Whether you have a 50- employee or an empire of one, your business success depends on your ability to set and achieve goals. Put your business on the fasttrack by applying the principles of SMART Business goal setting.

 Once your goals are SMART, break down each goal into a specific set of tasks and activities to accomplish your goals. It is important to periodically review your goals and make adjustments if necessary. Goal setting for your business is an essential tool for success. Remember in the end to be S.M.A.R.T
S M A R T = SPECIFIC = MEASUREABLE = ATTAINABLE = REALISTIC = TIME BASED

Example: