If you plan to set big and bold goals you must do staff work validating the possibility that the goal crosses all aspects of the business. Are the goals comprehensive and complete? Where will your achievements come from? Here’s a checklist with some possible strategic goals to help you get started:
Financial
1. To maintain a 25 percent return on investment (ROI) over a five-year period
2. To achieve 30 percent of sales from new products in one year
3. To become a $3 billion company annually
Growth
1. To enter three new market segments within the next five years
2. To triple in size within ten years
Market Share
1. To hold 14 percent market share
2. To be the dominant supplier to the world with our product
Global Locations
1. To enter five new countries within the next five years
2. To establish an international presence
Market Segment
1. To establish dominance in the high-end youth clothing market
2. To become the product of choice of the upper one-third income bracket
Mergers and Acquisitions
1. To complete one successful merger annually over the next ten years
2. To buy our biggest competitor within ten years
Product Leadership
1. To be the recognized product leader in plastic injection molding
2. To be number one or two in the areas in which we choose to compete
Research and Development
1. To introduce one significant technological breakthrough within the next three years
2. To support field applications with more robust research design
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1. To rank in the top ten most admired companies within eight years
2. To be a recognized logo in the majority of countries around the world