Business success or failure is greatly determined by the planning stage of the business. Many people formulate goals, but they don’t formulate the policies that will lead to achievement of those goals. If you want to perfectly and quickly accomplish your business goals, you need to make sure that you set appropriate directions that will guide you through all the steps that are needed to accomplish your goals. Goals without objectives can lead to permanent failure and huge debts since when a goal is mishandled, other extra expenses come in. Look at the below Project management goals and objectives examples for you to understand what this all means. In simple terms, goals depicts ‘’what should be done’’ while objectives depict.’’ How it should be done’’.
Understanding the Concept of Goals and Objectives
Goals are the things that you a target to hit, a mission to accomplish or a certain level to reach. Objectives on the other directs you on what to aim for in order for you to reach that level. Here are project management goals and objectives examples for you to understand the project goals in detail.
Goal; ‘Over the next 12 months, we have to increase repeat bookings by 15%’. This is a goal that you have set, but there should be a procedure, a direction or a formula that will lead to the achievement of this goal. An example of the objective of this goal would be;
Objective; ‘’Create an email campaign that targets first-time bookers or buyers so that they get reminded of your services’’. On this objective, your assumption is that these onetime buyers will need your services in future and since you don’t want them to go to other sellers, you send them emails to buy from you again. Of course, not all emails will convince your buyers to come again for your services, but a good number of them will buy for the second time thereby making you to meet your goal.
More Examples of Goals and Their Objectives
Goal: Increase Website visits by 50% of its current visitors and increase conversion rate by 10%. This is just a goal, more like a desire. Below are some of the objectives you can implement.
Objectives: Initiate paid social media campaigns that will increase more visitors to the website pages. You can also increase the value of your content and launch a blog to increase visits and SEO strength.
The bottom line is that goals & objectives work hand in hand to increase the success of the business. Whereas goals may have a lose time frame, objectives need to state the appropriate time that each intervention should be done. This quickens success while at the same time promoting accuracy on everything that you are doing. Objectives keep you and your team on the same pace so that you accomplish the project appropriately and as needed. When formulating objectives, you should make sure that the whole business team is there so that you discus the importance of every objective.