
Setting objectives is exciting for leaders – it's motivating to think about what might be possible for your organization.
However, sometimes there is confusion between objectives and strategy. They go together like milk and cookies, but are nowhere near the same thing. So, what separates an objective from a strategy, and why do the most effective plans demonstrate an understanding of the different role of each?
Objectives communicate where your organization wants to go and what it hopes to accomplish. In other words, objectives are aspirational and outcome-oriented. It's these qualities that inspire teams.
But all too often, leaders state the objective when asked about their strategy. When I ask the strategy question, I hear answers such as:
We want to serve X number of community members.
We want to reach X in revenue.
We want to release the next version of our product.
These are not strategies, they are objectives. They define the outcome; where the leader hopes the organization will be by year end.
You can’t assume you have a strategy when, really, all you have is an objective. You need to take the next step and articulate how your organization will get to the desired end state.
Strategy spells out how your organization plans to achieve the objective. But that's not all strategy does.
A strong and detailed strategy serves as a nudge when the going gets tough, provides clarity during uncertainty and helps you navigate the unknown. It also allows you to prioritize, make decisions and determine what investment and resources are needed.
So, how do you know if your objective is an objective or actually a strategy? And if your strategy is a strategy or actually an objective?
Pull out your plan and look for the following attributes to ensure it includes both objectives and strategies, and that they are labeled correctly.
Objectives are:
Strategies are:
With the above information, it's easy to see the difference between objectives and strategy, right? Yet, objectives can begin to look a lot like strategies and vice versa in practice.
So, if everything starts to run together when you review your plan, give me a call. We can walk through your objectives and strategies to make sure you have both, and that you're on track and set up for success.