Large corporations openly share their experience of strategic planning. Below are some of their well-formulated goals.
General Electric
One of America's largest manufacturing companies has always set ambitious strategic goals:
To become the most competitive company in the world.
To be the best in every activity.
General Electric took a stance of boldly responding to challenges, constantly evaluating and adjusting strategic goals. The volatility of external factors and new competitors required profound changes within the company. GE focused all its attention on technological improvement and a complete renewal of management and production.
General Electrics
The strategic goal of cash app database developing high technologies (robotics and network infrastructure), globalization, reaching a new level of digital economy and leadership in the development of additive technologies came to the forefront. In the process of achieving these goals, investment in R&D increased more than twofold.
Mango
In connection with the trend of developing socially oriented business in the field of ecology and reasonable consumption, the Mango brand has introduced a completely new strategy – the development of a closed-loop economy.
Mango
The company announced a new mission, expressed in a manifesto, "to create clothes from fabrics and using technologies that do not have a negative impact on the environment ." The concept meant minimizing textile waste and refusing plastic packaging. Strategic goals were formulated: "so that by 2022 100% of our collections have environmentally sustainable characteristics," "to remove 160 million plastic bags per year."
Intel
The Intel example proves that when external factors change, a timely revised strategic goal can lead an organization to success.
Intel Employee Loyalty
In the late 1970s, Intel was losing ground in the memory chip market. The decline was catastrophic: from 82.9% in 1974 to 1.3% by 1984. In the mid-80s, the company could not stand the competition with the Japanese and completely reoriented itself to developing processors for personal computers. Intel's new strategic goal was formulated by Andy Grove, one of the top managers of the concern, and sounded like this: "to gain the position of the leading supplier of powerful microprocessors for personal computers." Thanks to the new strategic vision, Intel is the world leader in the computer technology industry.
By the beginning of the 21st century, more than 80% of computers worldwide were based on Intel processors (the famous advertising campaign with the "Intel Inside" label). The concern itself entered the top 10 most profitable companies by the end of 2000 with a net profit of 10.54 billion dollars. As Intel's global network expanded in 1998, new strategic goals were formulated: to take a leading position in developing products for the Internet economy and commercializing the World Wide Web, uniting PCs into a single network with the installation of millions of servers based on more powerful microprocessors; to support the electronic economy, which is gaining billions in turnover.
L'Oreal
L'Oréal's strategic objective was defined by the "L'Oréal for the Future" program: "By 2030, 100% of our ingredients of biological origin will be sustainably sourced." The group invested 100 million euros in intensive technologies that helped restore the ecosystem and establish a circular economy.
The history of many companies shows that failures are caused by the lack of a complete business model. Some companies that are engaged in production are mistaken in believing that it is enough to produce a quality product that will sell itself. Over time, demand for products will inevitably fall and without commercial efforts and development of sales, the outcome will be sad. But there are companies focused on marketing. They have a good command of the tools for analyzing the market and creating product values, but they experience problems with resources, and find it difficult to provide them. Or there are reserves, but problems arise with producing them in the required volume within the required time frame.
Sometimes the strategic goal of an enterprise is "excellent products that exceed customer expectations" or "delighted consumers." This sounds great in itself. But such companies cannot avoid financial problems. There are "super-satisfied customers," but there is no profit, it was not taken into account in strategic planning. Only the owner thinks about it. When building a strategic goal map, you can see "isolated" settings that are not connected to any other. Or those that are not aimed at developing other business processes. Visualization of the system of strategic goals of an organization helps to track inconsistencies and gaps between one direction and another.
Strategic goals are global long-term objectives of the enterprise that affect all areas and highlight priority aspects of activity: market position, finance, production, sales and marketing, personnel management, etc. Their formation depends on the interests of the owner, the opinion of buyers and society as a whole. The criteria for correctly formulated strategic goals are specificity, clarity, achievability, measurability, relevance and established deadlines. Fulfillment of long-term objectives affects the competitiveness of the company, its development and reaching a new lev