Organizational goals are strategically set objectives that outline expected results and guide the efforts of employees on shared objectives. Goals are critical to organizational effectiveness because they serve as an objective for people to work towards. It’s important to establish short- and long-term goals for your business, so that you can provide realistic stepping stones towards achieving long-term objectives.
Short-term goals are often defined as having a time frame under five years, and more commonly, within one to three years. These goals have an operational component to them, with action plans for the immediate future. They also roll up to form the action plan for achieving long-term goals.
Long-term goals are commonly defined as goals that take a minimum of five to ten years to achieve. Long-term goals are inherently strategic and are used to shape the overall direction of an organization. These goals form the broad strategy which maps out the long-term direction for the organization. Long-term goals should have periodic milestones or benchmarks for the organization to use in evaluating their progress.