Identify your Strategic Objectives (Critical Parameters)
A VISION is an abstract concept. We need to land abstraction into a quantifiable framework of progress indicators. By selecting a group of indicators (strategic objectives) that show us progress towards that VISION, we can judge the effectiveness of our strategies.
Having strategic objectives keeps the organization in the same level of understanding of where we are in our competitiveness progress journey. They make the judging of the effectiveness of strategies possible.
Strategic Objectives Definition:
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Indicators that objectively establish our progress towards the VISION
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A set of individually quantifiable parameters (indicators, KPI, measures) from all aspects of organizational execution (cultural: behaviors; operational: quantity, quality cost; financial; developmental; technical…) and viewed from many points of view (employees, administration, customers, market, community…)
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which together, when a specific execution target is selected for each, establishes an overall threshold level for deciding objectively and unequivocally if a given desired vision has been reached in a given point in time.
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Strategic Objectives EXERCISE:
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The exercise consists on filling this document (download Excel file here).
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Divide your Strategic Team in subgroups of between 3 to 7 people.
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Have each subgroup fill up the first column with options for strategic objectives by answering the question (give them 35 minutes to complete):
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How can we measure (number) progress towards reaching our VISION? Locate them in each of the strategic objectives sections (blue headings on form above)
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After they finish, have them reduce their list to a minimum of 4 and a maximum of 7 objectives that together best represent quantitative progress towards the vision.
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Some of the Objectives will be broader, one way to reduce the list is to group together similar objectives and decides which one has a broader "systemic" view.
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Now move the subgroups back into a Strategic Team and MERGE all the subgroups lists together into one list.
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Go through the process reducing the list to a maximum 7 Strategic Objectives.
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Some of the objectives might not be measurable with your actual administrative process. If so and you deem it important to know that number, leave it at the list with a target date of when you will start doing so.
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Fill the table up and see if any of the sections is empty. If so, consider if you should have an additional objective there (the answer can be: no, it is not needed).
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Now take this list of objectives and read the vision out load. Answer the question: Doest this group of objectives represent/describes what the VISION wants to convey? If not, do some more work until you answer yes!
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Take each objective and create an OPERATIONAL DEFINITION, a clear mathematical formula of how you will come up with the number in such a fashion that if anyone performs the calculations for a given time period, they will come up with an identical number.
ASSIGNMENT: Delegate to a subteam of 2 to 4 Strategic Team members to take the table as partially completed and fill it up with baseline and possible yearly progressions (other columns) and to formalize the OPERATIONAL DEFINITIONS for EACH. Report back to the Strategic Team for final approval in 4 weeks or less. Remember not all baselines will be available. Establish a plan on how you will get it done. This table will be reviewed at the Quarterly Strategic Progress Meetings.
Now please type it in your INDIVIDUAL Strategic Framework Form.
REMEMBER: Your STRATEGIC FRAMEWORK is your UNIQUE URL (INTERNET) Address you where given when you first submitted the form, please DO NOT CREATE ANOTHER ONE! This same URL was also included on the email you received after creating and/or editing your STRATEGIC FRAMEWORK. This email is sent to you from "StratExec CLIENT Strategic Framework <noreply@123contactform.io>" and the URL is in the row called Submission Edit LINK.