Strategic Objectives
It is essential for any business to set both long term and short term objectives.
What is your purpose? You need a clear idea of why you are in business and you need to also have a clear vision of where you are going.
What are your big hairy audacious goals? If you do not have a vision you will not know when you get there, nor will you be able to monitor your progress.
Lastly, you need to have some idea of what you are actually going to do to achieve your vision, that is, strategic objectives and how you intend to implement them.
Successful businesses are the ones that use planning to provide themselves with a framework rather than a straightjacket.
They still need to ensure that they can be responsive and flexible when opportunities arise. Without an element of planning, however, it is not possible to monitor progress and, more importantly, to take corrective action plans when you diverge too far from the plan.
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