- Identifying measurable commonly set annual goals
- Developing special functional strategies
- Developing and binding concise policy-making, for decision-making
Annual goals represent concrete, measurable plans for what an organizational sub-unit should do to contribute to the fulfillment of the main business strategy. Annual goals focus on implementation through the transformation of long-term goals into concrete and short-term goals. While such goals clarify the long-term purpose(s) of the main strategy and the basis for assessing the success of the strategy, they are less useful for guiding operational strategies and the current actions needed to implement the main strategy.
One annual goal must be clearly linked to one or more long-term goals of the main business strategy. To achieve this, it is of great importance to understand how to differentiate between two...