Revisiting the Basic Skill of Setting Goals and Objectives

Here’s a startling fact: In the first half of this year, I personally delivered 99 unique business acumen and leadership workshops, each centered around business simulations, focused on improving decision-making, strategic thinking, and driving results through clear strategic goals and objectives.

And yet, in those 99 sessions, not a single team—0.0%—completed their goals and objectives forms correctly in either their pre-simulation planning or their final board of directors’ presentations.

Let that sink in for a moment. More than 2,800 participants engaged in an exercise to set and execute a strategy in a simulated business environment, and not a single one came up with acceptable goals and objectives.

Despite all the investment in leadership development and digital tools, one of the most fundamental business skills, setting clear, measurable goals, seems to be missing from far too many professional toolkits.

What’s Going Wrong?

When teams presented their goals, I heard things like:

• “Become a market share leader”
• “Invest in R&D”
• “Increase plant capacity”

Those aren’t goals. Those are vague intentions. They lack the precision and accountability that turn aspirations into execution. Here’s how they should sound:

• “Become the #1 market leader with at least 35% share in every segment we enter.”
• “Invest a minimum of 20% of revenue into R&D to drive long-term innovation.”
• “Increase plant capacity by 35% by the end of FY2028 to support scale-up and margin expansion.”

The difference? Clarity. Metrics. Timeframes. Ownership. Accountability.

Why Does This Matter?

Because in business, what doesn’t get measured doesn’t get managed. And what isn’t specific can’t be acted on. The inability to articulate clear goals leads to:

• Confusion about priorities
• Inefficient use of resources
• Frustration among team members
• Missed targets—and missed opportunities

We can and must do better. I also need to do a better job of teaching and training participants to utilize the skills necessary for setting practical goals and objectives.

The Top 5 Skills Needed to Set Goals and Objectives

After reviewing dozens of workshop transcripts, coaching sessions, and feedback reports, I’ve identified five core skills that high-performing teams use to set strong, actionable goals:

1. Define the Desired Outcome First
   Start with the end in mind. What does success look like? Be brutally specific. Replace "Grow revenue" with "Grow revenue by 12% year-over-year in our core portfolio."
2. Quantify Everything
   Use numbers. Set targets. A goal without a number is just a hope. Whether it's market share, profitability, capacity, or customer satisfaction, put a stake in the ground.
3. Set a Realistic Timeframe
   Every objective should have a deadline. Is it a Q3 goal? Year-end? By 2028? Without a timeframe, there’s no urgency and no accountability.
4. Align to Strategic Priorities
   Goals should cascade from the broader strategy. If your company is focused on innovation or cost leadership, your objectives should reflect that focus, rather than straying into unrelated territory.
5. Write It Down and Share It
   Good goals should be written, reviewed, challenged, and shared. This creates alignment and ensures that everyone is moving in the same direction, especially when you are working across the enterprise in cross-functional teams.

Summary

Ironically, as business becomes increasingly complex with the advent of AI, evolving digital tools, shifting markets, and vast amounts of data, we need to return to basics.

Setting strong goals and objectives isn’t just a planning exercise. It’s a leadership skill. A cultural lever. A competitive advantage.

It’s time to have a plan and stop being vague and reactionary. Excellent business acumen training brings back discipline and precision to the way businesses define success.