Business goals for 2020 should align with the company’s long-term vision.
This article states that Q4 of a year is the ideal time to build a strategic plan for the next year, which is not only ambitious enough to inspire but also practical enough to implement. The author recommends setting goals for 2020 that actively contribute to the overall vision of the organisation.
An easy way to test the vision is by asking if it is simple to understand, if it excites the team and if it describes why the team exists. There should also be clarity on what needs to be communicated to the broader organisation, who will deliver it and when will it happen.
Further, companies should brainstorm three to five strategic initiatives that add up to realising the annual goal. These initiatives must then be categorised of “must-do” and “nice-to-do”.
[4 minute read]