The Importance of Strategic Goal Setting

Has your executive management team clearly communicated your company’s strategic goals, objectives and key performance indicators to its middle management team and front-line employees?

As a business owner, have you stopped to consider how the breakdown in communication can impact your brand identity, brand image, and overall brand equity?

It all starts from the top!

Providing your middle management team and front-line employees with specific goals, objectives and key performance indicators on how to be successful in their role will ensure they are carrying out your company’s brand identity, brand image and overall brand equity.

In order for a company to achieve its goals, a set of objectives must be established for each goal.

Objectives should be SMART (specific, measurable, achievable, relevant, and time-based). They should also directly support the goal and be in alignment with your company’s purpose and brand. Typically, you will have multiple objectives for each goal. As such, you will have multiple strategies for each objective.

KPIs are a series of benchmarks used to measure your progress towards the completion of your objectives.

KPIs should be SMART and should relate to specific business outcomes.

If the following does not take place, there is a high chance for a breakdown in communication, which will negatively impact your brand identity, brand image, brand equity and ultimately financial results.