The strategic objectives or strategic lines of a company, institution or organization are the short or medium-term goals that it intends to achieve, within the framework of its different strategies or different scenarios set in motion, in accordance with what is established in its specific vision and mission.
It is a set of clear, concise, attainable and measurable, which can in turn be translated into a set of concrete actions and decisions, which seek to bring the organization closer to fulfilling its mission or its vocation.
That is why strategic objectives are central to the functioning of any company or organization, and based on their measurement, their performance can be evaluated. The most common method for this is SWOT (or SWOT): the analysis of the Strengths, Weaknesses, Opportunities and Threats of an organization.
In this way, the strategic objectives define the steps to follow and mark, in some way, the pattern to be followed in carrying out organizational plans. That is why it is common for each unit, department or coordination to pursue its own strategic objectives, framed within those of the company as a whole.
Lastly, it should be remembered that the term “strategic” comes from military jargon, where combat strategies are used to confront a given enemy in the most convenient way.
Examples of strategic objectives
- From a shipping company. The strategic objectives of a company in this category may be to increase the frequency of its trips, the maximization of its operations in national territory or, precisely, to venture into international routes.
- From a non-profit environmental organization. For this type of organization, the strategic objectives will undoubtedly point to the visibility of its activities, for example, in the main international media, or it may simply be a certain number of affiliates and committed donors per semester.
- From a vegetable planting cooperative. This type of organization with a low economic impact also has its strategic objectives very well planned: increasing the yield of the crops on a monthly basis, rotating the crops efficiently so as not to deplete the soil or simply minimizing the amount of merchandise that remains unsold, can be examples of it.
- From a web design company. The strategic objectives of a company of this type may point to the growth of the client portfolio, the positioning of its work among the most outstanding initiatives in the area or even to diversify its services, for example, towards the areas of programming, marketing and outsourcing to cover new market niches.
- From a fast food business. The strategic objectives of any venture tend to be more or less similar, as they aim to open a clientele, promote the name of the company and transform the initial investment of the project into profits as soon as possible. However, since we are talking about a fast food restaurant, we may have to include objectives regarding the nutrition of its customers, the responsible disposal of waste and other similar aspects.
- From an educational institution. A private school, for example, or an institute for adult studies, will point in the conceptualization of its strategic objectives to tasks more of maintenance, supervision and acquisition of new teaching professionals, than to the conquest of markets or commercial expansion. However, those objectives can be as difficult or more difficult than those of a company.
- From a literary publisher. Both independent publishers and large publishing consortiums compete to acquire the works of the best authors, make them visible in the reader market and maximize sales through promotion and public relations. All this will undoubtedly give rise to specific strategic objectives, such as joining a specific author, starting a new collection or successfully participating in a major book fair.
- From a bottle factory. This type of industry will pursue strategic objectives that allow it to optimize the manufacturing process, obtain greater dividends from the marketing chain and, in the same way, train, protect and keep its personnel in optimal conditions. An example of strategic objectives may be the acquisition of more modern machinery, or the rapid replacement of workers who left.
- From a technology company. Suppose for this example that it is a cell phone company: its strategic objectives will undoubtedly point to innovation (developing new and more attractive models), marketing (increasing the company’s media presence) and human resources. (encourage the specialization and growth of workers).
- from a bank. The strategic objectives of a medium-sized bank will be diverse, depending on the broad scope of its interests (an agricultural bank is not the same as a transnational bank and insurance company), but in general terms we can assume that they will include the growth of the portfolio of clients and investors , the generation of massive dividends from the loan processes, etc.