Effective goal management: 48 examples of complete strategic goals.
Share this article
Setting clear and measurable objectives is essential for an organisation to succeed. This guide provides examples of how you can effectively formulate and measure different strategic objectives. By using a structured approach to defining objectives, identifying key enablers and establishing clear ways to measure progress, you can ensure that you achieve your long-term goals and maintain high standards across your organisation.
This guide shows different examples of goals based on the GoalEnvision model. For each goal, you will learn how to measure it, what needs to be done to get there, and how you can follow up on the status with the help of a traffic light.
Click on the examples below to learn more about how you can set and work toward goals within each perspective.
Market
Strategic goal: General Product & Market Fit
Measure with: Market research and sales data showing customer acceptance and demand for the product.
Conditions:
- The product meets the customers' needs and expectations.
Decided by: Customer surveys that measure customer satisfaction and perceived value of the product.
- The marketing strategy is effective and reaches the right target group.
Determined by: Expert opinion that assesses the effectiveness of marketing efforts.
- Sales channels are optimized to maximize reach and conversions.
Determined by: Sales data that analyzes conversion rates and customer acquisition costs.
- The competitive analysis is up to date and has identified unique selling points.
Determined by: Expert opinion reviewing competitive positioning and differentiation strategies.
Strategic goal: Effective Business Intelligence
Measure with: Analyzes of reporting precision and decision quality based on BI data.
Conditions:
- The BI system delivers relevant and up-to-date data at the right time.
Determined by: Expert opinion reviewing data quality and system performance.
- Users have the necessary skills to interpret and use BI data effectively.
Determined by: Surveys that measure users' experience of training and skills development within BI.
- The reporting from the BI system is clear and user-friendly.
Determined by: Surveys that gather feedback from users on the clarity and usability of the reports.
- BI insights are consistently used in decision-making processes.
Determined by: Expert judgment that assesses how well BI insights are integrated into the decision-making processes.
Strategic goal: High customer satisfaction
Measure with: Customer surveys that collect feedback and experiences from customers.
Conditions:
- Customer support is efficient and meets customers' needs.
Determined by: Surveys that measure customers' experience of customer support.
- The feedback process works smoothly and regularly.
Determined by: Expert judgment that examines how feedback is handled and translated into action.
- Product quality is reliable and meets customer expectations.
Determined by: Measures such as product returns or customer complaints.
- Communication with customers is clear and engaging.
Decided by: Surveys where customers rate their experience of the company's communication.
Strategic goal: Deep market understanding
Measure with: Market analyzes and sales data that show how well the company understands and addresses market needs and trends.
Conditions:
- Market analyzes are current and based on reliable data.
Determined by: Expert opinion that reviews the quality and relevance of the market analyzes carried out.
- Customer segmentation is clearly defined and adapted to market developments.
Determined by: Analyzes of sales data and customer feedback to assess segmentation effectiveness.
- Competitive monitoring is continuous and leads to strategic insights.
Determined by: Expert judgment that assesses how well competitive insights are used to adjust strategies.
- The marketing message is adapted to the needs and preferences of the target group.
Determined by: Customer surveys and sales data that measure how well marketing efforts reach and engage the target audience.
Strategic goal: Strong competitiveness
Measure with: Measures such as market share to show the company's position relative to competitors.
Conditions:
- The company's unique selling points (USPs) are clearly communicated and perceived as valuable by customers.
Determined by: Survey that measures customers' perception of the company's unique value proposition.
- The pricing is competitive and attractive to the target group.
Determined by: Expert opinion that reviews the pricing strategy in relation to market data and competitors.
- The product/service is of high quality and surpasses the competitors' offers.
Determined by: Measures such as product returns and customer complaints.
- The company reacts quickly and effectively to changes in the market and competitors' activities.
Decided by: Expert opinion that assesses the company's adaptability and response to market changes.
Strategic goal: Successful product development
Measure by: Measures such as the number of new products launched and their performance in the market.
Conditions:
- The development process is efficient and follows set timelines.
Determined by: Measures such as project implementation within time and budget.
- The product meets the market's needs and expectations.
Decided by: Survey measuring customer feedback and satisfaction with the new product.
- Technical specifications and quality requirements are met.
Determined by: Expert opinion that reviews the product's technical performance and quality assurance.
- The launch strategy is effective and reaches the right target group.
Determined by: Expert opinion that assesses the implementation and scope of the launch plan.
Sales
Strategic goal: Strong marketing and sales results
Measure with: Measures such as sales volume and conversion rate.
Conditions:
- Marketing campaigns are well targeted and reach the right target group.
Determined by: Expert judgment that assesses the campaign's implementation and target group adaptation.
- The sales team is well equipped and motivated to drive sales.
Decided by: Survey measuring sales team satisfaction and motivation.
- The pricing strategy is competitive and adapted to market demand.
Determined by: Expert opinion analyzing the effectiveness of the pricing strategy.
- Customer follow-up and loyalty programs are effective and increase customers' propensity to repurchase.
Determined by: Measures such as customer repurchase rates and loyalty program participation.
Strategic goal: Strong brand recognition
Measure with: Survey that measures the public's and target group's awareness of the brand.
Conditions:
- The marketing efforts reach broad and relevant target groups.
Determined by: Expert judgment assessing the effectiveness and reach of the marketing strategy.
- The brand message is clear and consistent across all channels.
Determined by: Expert opinion that examines the consistency and clarity of brand communication.
- PR activities generate visibility in the media and among influencers.
Determined by: Measures such as the number of published articles and mentions in relevant media.
- Sponsorship and collaborations with relevant partners strengthen the brand's presence.
Determined by: Expert judgment assessing the relevance and impact of sponsorship activities and partnerships.
Strategic goal: Effective marketing
Measure with: Measures such as ROI (Return on Investment) for marketing campaigns.
Conditions:
- The marketing strategy is well planned and adapted to the target group.
Determined by: Expert opinion that assesses the strategy's quality and target group adaptation.
- Digital marketing channels are used effectively to reach and engage the target audience.
Determined by: Metrics such as click-through rate (CTR) and engagement level on digital platforms.
- The content of the marketing campaigns is relevant and engaging.
Determined by: Survey that collects feedback from the target group about the content of the campaigns.
- The marketing budget is used efficiently and produces a high return.
Determined by: Measures such as ROI for each campaign or marketing activity.
Strategic goal: Effective PR strategy
Measure by: Measures such as the number of media mentions and articles published.
Conditions:
- The PR strategy is well planned and adapted to the company's goals and target group.
Determined by: Expert opinion that assesses the PR strategy's quality and target group adaptation.
- Press releases and news about the company reach the relevant media.
Determined by: Measures such as the number of published press releases in media publications and news channels.
- The company's spokespersons are well prepared and deliver the message effectively in the media.
Determined by: Expert judgment that assesses the spokespeople's performance in interviews and public appearances.
- PR activities generate positive media engagement and strengthen the company's image.
Determined by: Measures such as sentiment analysis of media content related to the company.
Strategic goal: Strong web presence & social media
Measure with: Measures such as engagement rate (likes, comments, shares) and web traffic.
Conditions:
- The website is user-friendly and optimized for both desktop and mobile.
Determined by: Expert opinion that assesses the website's user-friendliness and technical performance.
- The social media strategy is effective and engages the right target group.
Determined by: Measures such as engagement rate and reach on social media platforms.
- The content on the web and social media is relevant, engaging and up-to-date.
Determined by: Survey that collects feedback from users about their experience with the content.
- SEO (search engine optimization) is implemented to maximize visibility in search engines.
Determined by: Expert opinion analyzing the website's SEO strategy and its effectiveness.
Strategic goal: Effective generation of leads
Measure with: Measure as number of qualified leads per month.
Conditions:
- The lead generation strategy is well planned and adapted to the target group.
Determined by: Expert opinion that assesses the strategy's quality and target group adaptation.
- Digital channels are used effectively to attract and capture leads.
Determined by: Metrics such as click-through rate (CTR) and conversion rate from digital campaigns.
- Landing pages and forms are optimized to maximize conversions.
Determined by: Expert opinion that analyzes the usability and effectiveness of the landing pages.
- The lead management process is efficient and ensures prompt follow-up.
Determined by: Measured as the time from lead generation to follow-up (lead response time).
Strategic goal: Effective qualification of prospects
Measure by: Measured as the percentage of qualified prospects that convert to customers.
Conditions:
- The criteria for prospect qualification are clear and well defined.
Determined by: Expert opinion that reviews and assesses the clarity and relevance of the qualification criteria.
- The prospecting process is structured and consistent.
Determined by: Measured as the number of prospects qualified per week or month.
- Sales teams are trained to identify and qualify prospects effectively.
Determined by: Survey that measures the sales teams' experience of the effectiveness of the training.
- The prospect's needs and buying signals are identified correctly and early in the process.
Determined by: Expert judgment that assesses sales teams' ability to identify and respond to prospects' needs.
Strategic goal: Increased actual sales
Measure with: Measure as total sales volume per month or quarter.
Conditions:
- The sales process is efficient and well structured.
Determined by: Expert opinion that assesses the effectiveness and structure of the sales process.
- Sales teams have the tools and resources theyneed to succeed.
Determined by: Survey measuring sales team satisfaction with available tools and resources.
- Pricing is optimized to maximize sales without compromising profitability.
Determined by: Expert opinion analyzing the effectiveness of the pricing strategy.
- Customer follow-up and relationship management ensure repeat purchases.
Determined by: Measured as the percentage of repeat customers and their contribution to total sales.
Strategic goal: Effective customer care
Measure with: Survey that measures customer satisfaction and customer loyalty.
Conditions:
- Customer service is available and solves customers' problems quickly and efficiently.
Determined by: Measures such as average response time and resolution time for customer cases.
- The customer care programs are well structured and adapted to the customers' needs.
Determined by: Expert judgment that assesses the program's structure and relevance.
- Proactive communication with customers is maintained to prevent problems and increase customer satisfaction.
Determined by: Survey that measures customers' experience of the company's proactive communication.
- Customer data is used effectively to adapt and improve customer care.
Determined by: Expert judgment that analyzes how well customer data is used to improve services and relationships.
Business
Strategic goal: High internal efficiency
Measure with: Measures such as productivity per employee or cost per unit.
Conditions:
- Work processes are well optimized and minimize waste and inefficiency.
Determined by: Expert judgment that assesses the efficiency and optimization of work processes.
- Employees have access to the right tools and technology to perform their work effectively.
Decided by: Survey measuring employee satisfaction with the available tools and technology.
- Internal communication is clear and ensures that everyone is informed and coordinated.
Decided by: Survey that measures employees' experience of internal communication and information flow.
- Resource allocation is optimized to maximize efficiency.
Decided by: Expert opinion that analyzes how resources (personnel, time, budget) are distributed and used.
Strategic goal: Full regulatory compliance and adaptation to regulations
Measure by: Measured as the number of compliance incidents or audits without remarks.
Conditions:
- The company's policies and procedures are up-to-date and comply with applicable laws and regulations.
Decided by: Expert opinion that reviews the compliance of the policies and procedures with current regulations.
- Employees are well trained in compliance and understand relevant regulations.
Decided by: Survey that measures employees' understanding and awareness of compliance issues.
- Monitoring systems are in place to identify and report compliance risks in a timely manner.
Decided by: Expert opinion assessing the effectiveness of the monitoring and reporting systems.
- Regular internal and external audits ensure compliance and detect deviations.
Determined by: Measured as the number of audits completed without comments.
Strategic goal: Effective process optimization
Measure with: Measures such as throughput time or cost savings per optimized process.
Conditions:
- Current processes are mapped and analyzed for inefficiencies.
Determined by: Expert judgment that assesses the accuracy of the mapping and analysis.
- Optimization initiatives are implemented to eliminate bottlenecks and waste.
Determined by: Measures such as reduced throughput time or reduced costs after optimization.
- Employees are involved in identifying and implementing improvements.
Determined by: Survey that measures the employees' commitment and participation in the optimization work.
- Continuous monitoring and adjustment of processes is ensured to maintain efficiency.
Decided by: Expert judgment that assesses how well processes are monitored and adjusted over time.
Strategic goal: Optimized supply chain
Measure with: Measures such as delivery accuracy and inventory turnover rate.
Conditions:
- The suppliers meet quality and delivery requirements according to the agreement.
Determined by: Expert opinion that assesses the suppliers' performance and contractual fidelity.
- Inventory management is optimized to minimize costs and avoid shortages.
Determined by: Measures such as inventory turnover rate and inventory holding costs.
- Transport and logistics processes are efficient and ensure timely deliveries.
Determined by: Measures such as delivery accuracy and transport costs.
- Risk management strategies are implemented to minimize supply chain disruptions.
Determined by: Expert judgment that assesses the robustness and effectiveness of the risk management strategies.
Strategic goal: Effective quality control
Measure with: Measured as the number of quality deviations per unit produced.
Conditions:
- Quality standards are clearly defined and communicated to all relevant employees.
Determined by: Expert opinion that reviews quality policies and how well they are implemented in the business.
- Quality checks are carried out regularly at critical points in production.
Determined by: Measured as the number of completed checks and identified deviations.
- Employees are trained in quality requirements and are responsible for ensuring that standards are met.
Decided by: Survey that measures employees' understanding and commitment to quality work.
- Deviations are detected early and corrective measures are taken immediately.
Determined by: Measured as the time from detection of deviation to implementation of corrective measures.
Strategic goal: Robust technology and infrastructure
Measure with: Measures such as system uptime and the number of technical incidents per month.
Conditions:
- Technical systems and infrastructures are updated and optimized for performance.
Determined by: Expert opinion that assesses the efficiency and modernity of the systems and infrastructure.
- Security protocols are implemented and strictly followed to protect against cyber threats.
Determined by: Measures such as the number of security incidents and the results of security audits.
- Employees have access to reliable and well-maintained technical resources.
Decided by: Survey that measures employee satisfaction with the technical resources.
- Continuous monitoring and maintenance of technical infrastructure ensures high availability.
Determined by: Measures such as system uptime and reaction times in the event of incidents.
Strategic goal: Strong partner relationships
Measure with: Survey that measures partners' satisfaction and commitment.
Conditions:
- Communication with partners is regular and transparent.
Determined by: Survey that collects feedback from partners on the quality of communication.
- Partnerships are mutually beneficial and meet the goals of both parties.
Determined by: Expert opinion that assesses how well partner collaborations meet the common goals.
- Conflicts with partners are handled quickly and efficiently to minimize the impact on the relationship.
Determined by: Measured as the time from conflict detection to resolution.
- Partners are engaged in joint projects and initiatives.
Decided by: Survey that measures the partners' participation and commitment in joint activities.
Strategic goal: Effective internal communication
Measure with: Survey that measures employees' experience of the communication flow within the organization.
Conditions:
- Communication channels are easily accessible and used effectively by all employees.
Determined by: Survey measuring employee satisfaction with the available communication channels.
- Information is disseminated clearly and in a timely manner to all relevant departments and employees.
Determined by: Expert opinion that assesses how well information is disseminated and received in the organization.
- The management communicates regularly and transparently with the employees.
Determined by: Survey that measures employees' perception of management's communication.
- Feedback from employees is encouraged and integrated into decision-making.
Determined by: Expert opinion that assesses how effectively employee feedback is collected and used.
Strategic goal: High cost efficiency
Measure with: Measured as cost per unit produced or operating cost in relation to revenue.
Conditions:
- Resources are used optimally to minimize waste and maximize productivity.
Determined by: Expert opinion that assesses resource allocation and productivity.
- Purchase and supplier agreements are negotiated to ensure the best possible price and terms.
Determined by: Measures such as cost savings through negotiated agreements.
- Operational processes are optimized to reduce unnecessary costs.
Determined by: Measures such as cost reduction after process optimizations.
- Continuous monitoring of cost structures ensures that budgets are kept.
Determined by: Expert judgment that analyzes budget follow-up and cost control.
Strategic goal: High time efficiency
Measure with: Measures as average throughput time per project or task.
Conditions:
- Work processes are streamlined to minimize time loss.
Determined by: Expert judgment that assesses the efficiency of the workflows.
- Tools and technology used are optimized to support fast and efficient work processes.
Determined by: Survey that measures employees' experience of the effectiveness of the tools and technology.
- Prioritization and planning of tasks is well structured to avoid bottlenecks.
Decided by: Expert judgment that analyzes the planning and prioritization processes.
- Employees are trained in time management and work efficiently without unnecessary interruptions.
Determined by: Survey that measures employees' experience of their own time management and frequency of interruptions.
Strategic goal: Effective customer service
Measure with: Survey that measures customer satisfaction and resolved issues at first contact.
Conditions:
- Customer service employees are well trained and have access to the right tools to help customers effectively.
Determined by: Survey that measures employees' experience of training and tools.
- Response times are short and customers' questions are resolved quickly.
Determined by: Measures such as average response time and case resolution time.
- Customer service processes are optimized to minimize transfers and detours.
Determined by: Expert judgment that analyzes customer service process flows and efficiency.
- Feedback from customers is used to continuously improve customer service performance.
Decided by: Expert judgment that assesses how effectively customer feedback is integrated into the improvement work.
Strategic goal: Full compliance with ISO 9001 standard
Measure with: Measured as the number of deviations from the ISO 9001 standard during internal and external audits.
Conditions:
- The quality management system is implemented and documented according to ISO 9001 requirements.
Decided by: Expert opinion that assesses how well the quality management system meets the ISO 9001 requirements.
- The employees are trained in ISO 9001 and follow the established processes.
Determined by: Survey that measures employees' understanding and compliance with the ISO 9001 processes.
- Regular internal audits are conducted to ensure continuous compliance.
Determined by: Measured as the number of identified deviations during internal audits.
- Corrective measures are taken immediately upon detection of deviations.
Determined by: Measured as the time from identified deviation to implemented correction.
Strategic goal: Full compliance with ISO 14001 standard
Measure with: Measured as the number of deviations from the ISO 14001 standard in internal and external environmental audits.
Conditions:
- The environmental management system is implemented and documented according to ISO 14001 requirements.
Determined by: Expert opinion that assesses how well the environmental management system meets the ISO 14001 requirements.
- Employees are trained in environmental management according to ISO 14001 and follow the established processes.
Decided by: Survey that measures employees' understanding and compliance with the ISO 14001 processes.
- Regular internal environmental audits are performed to ensure continuous compliance.
Determined by: Measured as the number of identified deviations during internal environmental audits.
- Environmental aspects are continuously monitored and corrective measures are taken immediately when deviations are detected.
Determined by: Measured as the time from detection of environmental deviation to implementation of corrective measures.
Strategic goal: Full compliance with ISO 27001 standard
Measure with: Measured as the number of deviations from the ISO 27001 standard during internal and external security audits.
Conditions:
- The information security system is implemented and documented according to ISO 27001 requirements.
Determined by: Expert opinion that assesses how well the information security system meets the ISO 27001 requirements.
- Employees are trained in information security according to ISO 27001 and follow the established processes.
Decided by: Survey that measures employees' understanding and compliance with the ISO 27001 processes.
- Regular internal security audits are conducted to ensure continuous compliance.
Determined by: Measured as the number of identified deviations during internal security audits.
- Security incidents are monitored and dealt with quickly with effective measures.
Determined by: Measured as the time from detection of security incident to implementation of corrective actions.
Employees
Strategic goal: High general social competence among employees
Measure with: Survey that measures employees' self-perceived social competence and their ability to cooperate.
Conditions:
- The employees have undergone training in social skills and cooperation.
Decided by: Survey that measures employees' experience of these trainings and their practical application.
- The work environment encourages open and respectful interactions.
Determined by: Survey that collects feedback from employees about the work environment's support for social interactions.
- The feedback culture in the organization is strong and constructive.
Determined by: Expert opinion that assesses how effectively feedback is given and received within the organization.
- Employees show good ability to handle conflicts and cooperate with others.
Determined by: Survey that measures employees' experience of conflict resolution and collaboration in teams.
Strategic goal: Effective and targeted recruitment
Measure with: Measures such as time-to-hire and the quality of new hires assessed after a certain period of time.
Conditions:
- The recruitment process is clearly defined and effectively implemented.
Determined by: Expert judgment that assesses the process from need identification to employment.
- Job ads and recruitment materials attract the right candidates.
Determined by: Survey that collects feedback from candidates on their perception of job advertisements.
- The selection process is structured and ensures that the most qualified candidates are selected.
Decided by: Expert opinion analyzing selection methods and their effectiveness.
- New employees are quickly and efficiently integrated into the organization and meet their work goals.
Decided by: Survey that measures how quickly new employees feel integrated and productive in their role.
Strategic goal: Successful employee development
Measure with: Survey that measures the employees' experience of their own development and skill enhancement.
Conditions:
- Training and development programs are available and relevant to employee needs.
Determined by: Survey that measures employee satisfaction with the development opportunities offered.
- Employees' career paths are clearly defined and supported by the organization.
Determined by: Expert judgment that assesses how well career plans are designed and implemented.
- Regular feedback and evaluation ensures that employees are making progress towards their goals.
Determined by: Measures such as the frequency and quality of conducted development interviews.
- The leadership within the organization supports and promotes the employees' continuous development.
Determined by: Survey that measures the employees' experience of the management's support in their development.
Strategic goal: Strong cooperation and collaboration within the organization
Measure with: Survey that measures employees' experience of collaboration and cooperation in teams and between departments.
Conditions:
- Team structures and communication channels support effective collaboration.
Determined by: Expert judgment that assesses how well team structures and communication tools enable collaboration.
- Employees are trained in team dynamics and collaboration techniques.
Determined by: Survey that measures employees' experience of the training's effect on their ability to work together.
- Projects and tasks are designed to encourage cross-functional collaboration.
Determined by: Expert opinion that examines how projects and tasks promote collaboration between different departments.
- Culture and work environment encourage open communication and shared responsibility.
Determined by: Survey that measures employees' experience of the culture's support for collaboration and shared responsibility.
Strategic goal: Living values and clear expectations in the organization
Measure with: Survey that measures employees' understanding and compliance with the organization's values and expectations.
Conditions:
- The organization's values are clearly communicated and integrated into daily work routines.
Decided by: Survey that measures how well the employees understand and apply the company's values in their work.
- Expectations for employee behavior and performance are clearly defined and communicated.
Determined by: Expert judgment that assesses the clarity and effectiveness of communicated expectations.
- The leadership acts as role models for the values and expectations that the organization has set.
Determined by: Survey that measures employees' perception of management's compliance with the company's values.
- Regular feedback ensures that employees are aware of how their behavior aligns with the organization's values.
Determined by: Measures such as the frequency of feedback calls and employee experience of those calls.
Strategic goal: A positive workplace culture
Measure with: Survey that measures the employees' experience of the workplace culture and their well-being.
Conditions:
- The work environment is supportive and inclusive for all employees.
Determined by: Survey that measures employees' experience of support and inclusion in the workplace.
- The leadership promotes a culture of respect, recognition and open communication.
Determined by: Survey that measures employees' perception of the role of leadership in creating a positive culture.
- Initiatives for employee well-being and job satisfaction are established and encouraged.
Determined by: Expert judgment that assesses the scope and effectiveness of workplace wellness initiatives.
- Employees are engaged and feel valued by the organization.
Decided by: Survey that measures employees' commitment and their experience of being valued.
Strategic goal: A safe and pleasant physical and social work environment
Measure with: Survey that measures employees' experience of the physical and social work environment.
Conditions:
- The workplace is ergonomically designed and safe for all employees.
Determined by: Expert opinion that assesses the ergonomics and safety standards of the workplace.
- Employees have access to health and safety training and follow established safety procedures.
Determined by: Survey that measures employees' understanding and compliance with safety procedures.
- The social climate in the workplace encourages cooperation and mutual respect.
Determined by: Survey that measures the employees' experience of the social climate and cooperation skills.
- The company offers spaces and resources that support social interactions and well-being.
Determined by: Expert opinion that assesses the quality and access to social spaces and resources in the workplace.
Strategic goal: Full compliance with HR-related laws and regulations
Measure with: Measured as the number of HR-related legal disputes or labor law complaints.
Conditions:
- Employment agreements and HR policies are in full compliance with applicable labor laws and regulations.
Decided by: Expert judgment that assesses how well employment contracts and HR policies comply with labor law.
- Employees are trained in relevant laws and regulations that affect their work and rights.
Determined by: Survey that measures employees' knowledge and understanding of employment law issues.
- The company has implemented effective procedures for handling employment law issues and disputes.
Decided by: Expert opinion that assesses the routines for handling labor law cases.
- Regular internal audits ensure that HR practices comply with statutory requirements and best practices.
Determined by: Measured as number of remarks during internal HR audits and compliance reviews.
Strategic goal: Effective recognition and reward system
Measure with: Survey that measures employee satisfaction with the recognition and reward system.
Conditions:
- The system for recognition and rewards is clearly and fairly designed.
Decided by: Expert judgment that assesses how fair and clear the system is designed and implemented.
- Employee achievements are regularly and publicly recognized.
Decided by: Survey that measures employees' experience of how often and in what way their achievements are recognized.
- Rewards are relevant and motivating for employees.
Decided by: Survey measuring employee satisfaction with the rewards offered.
- The system encourages continued high performance and commitment among employees.
Determined by: Expert opinion analyzing the effectiveness of the system in increasing performance and engagement.
Economy
Strategic goal: Strong financial control
Measure with: Measured as number of deviations from budget or financial inaccuracies discovered in audits.
Conditions:
- The accounting system is accurate and up-to-date, which ensures correct accounting.
Determined by: Expert opinion that assesses the accuracy and efficiency of the accounting system.
- The budget process is well structured and strictly followed by all departments.
Determined by: Measures such as deviations from the budget per department.
- Continuous monitoring of financial flows identifies and fixes problems early.
Determined by: Measures such as time to identification and resolution of financial discrepancies.
- Regular internal and external audits ensure compliance with financial standards and regulations.
Determined by: Measured as the number of remarks during audits.
Strategic goal: Accurate and transparent reporting
Measure with: Measures such as the number of accounting errors or deviations discovered during internal and external audits.
Conditions:
- The accounting principles comply with applicable laws and accounting standards.
Decided by: Expert judgment that assesses compliance with applicable accounting principles and standards.
- The accounting system is efficient and enables accurate and quick reporting.
Determined by: Measures such as reporting accuracy and time required for report generation.
- The employees in accounting are well trained and aware of current rules and best practices.
Decided by: Survey that measures employees' knowledge of and compliance with accounting principles.
- Regular checks and audits ensure that the accounts are correct and transparent.
Determined by: Measured as the number of corrections or adjustments after completed checks and audits.
Strategic goal: Strong and transparent investor relations
Measure with: Survey that measures investor satisfaction and confidence in the company.
Conditions:
- Regular and clear communication with investors about the company's financial situation and future plans.
Determined by: Survey that measures investors' experience of the clarity and frequency of communication.
- Financial reports and presentations are transparent and give a fair picture of the company's position.
Decided by: Expert opinion that assesses the quality and clarity of financial reports and presentations.
- The company complies with all regulatory requirements and guidelines for providing information to investors.
Determined by: Measured as the number of objections from regulatory authorities or legal reviews.
- Investor feedback and questions are handled quickly and efficiently to maintain trust.
Decided by: Measured as the time from received feedback or question to response and action.
Strategic goal: Correct and transparent financial reporting
Measure with: Measure as number of errors or adjustments after published reports.
Conditions:
- Financial reports comply with current accounting standards and legal requirements.
Decided by: Expert judgment that assesses compliance with accounting standards and legal requirements.
- The reporting process is well structured and enables correct and quick publication of financial data.
Determined by: Measured as the time from the end of the quarter to the published report.
- Internal controls ensure the accuracy of the financial data before reporting.
Determined by: Measured as the number of identified deviations during internal controls.
- The employees responsible for financial reporting are well trained and up-to-date on current accounting rules.
Decided by: Survey that measures employees' knowledge and compliance with accounting rules and best practices.
Strategic goal: Effective and accurate budget work
Measure with: Measures such as deviations from budgeted costs and revenues during the budget period.
Conditions:
- The budget process is well structured and includes input from all relevant departments.
Determined by: Expert opinion that assesses the scope and quality of the budget process.
- Forecasts are based on reliable data and realistic assumptions.
Determined by: Measures such as deviations between budgeted and actual results.
- Regular budget follow-ups are carried out to identify and correct deviations in time.
Determined by: Measures such as the frequency and effectiveness of budget follow-up meetings.
- The employees involved in the budget work are well trained and understand the processes and goals.
Determined by: Survey that measures employees' understanding of and commitment to the budget process.
Strategic goal: Sustainable revenue growth
Measure by: Measures such as year-over-year revenue growth.
Conditions:
- The sales strategy is optimized to maximize revenue from existing and new customers.
Determined by: Expert opinion that assesses the effectiveness of the sales strategy.
- The pricing model is competitive and adapted to market conditions.
Determined by: Measures such as price elasticity and market shares.
- Marketing efforts drive customer acquisition and increase customer lifetime value (LTV).
Decided by: Measures such as customer acquisition cost (CAC) and LTV.
- New revenue streams are continuously identified and developed to diversify the revenue base.
Determined by: Expert judgment assessing the development of new revenue streams and their contribution to total revenue.
Strategic goal: High and sustainable profit margin
Measure with: Measures such as operating margin or net profit margin.
Conditions:
- The cost structure is optimized to maximize profitability without compromising quality.
Determined by: Expert opinion that assesses the effectiveness of cost optimization strategies.
- The pricing strategy ensures that the products/services are sold at a healthy margin.
Decided by: Measured as gross margin per product/service.
- The company has a clear strategy to increase revenue without proportionately increasing costs.
Determined by: Measures such as revenue growth in relation to cost growth (operating leverage).
- Ongoing follow-up and adjustment of costs and pricing takes place to maintain or improve margins.
Determined by: Measures such as the frequency of financial reviews and adjustments to pricing and cost strategies.
Strategic goal: Effective cash flow management
Measure with: Measures such as operating cash flow and the accuracy of the cash flow forecast.
Conditions:
- Incoming payments are handled efficiently to ensure a smooth cash flow cycle.
Determined by: Measured as average time to payment (Days Sales Outstanding, DSO).
- Outgoing payments are planned and executed to optimize liquidity.
Determined by: Measured as average time to pay suppliers (Days Payable Outstanding, DPO).
- Cash flow forecasts are regularly updated and used to make informed decisions.
Determined by: Measures such as forecast accuracy compared to actual cash flow.
- Contingency reserves are adequate and available to meet unexpected cash flow needs.
Determined by: Expert opinion that assesses the adequacy and management of liquidity reserves.
Strategic goal: Effective risk management
Measure with: Measures such as the number of identified and managed risks per year or risk-adjusted return on capital (RAROC).
Conditions:
- Risk identification processes are well established and carried out regularly to detect potential threats.
Determined by: Expert judgment that assesses the effectiveness of the process in identifying and classifying risks.
- The risk assessments are thorough and take into account the probability and consequences of identified risks.
Determined by: Expert opinion that reviews the quality of the risk assessments and their decision-making basis.
- Action plans for risk minimization and management are clearly defined and implemented when necessary.
Determined by: Measures such as the time from identification of a risk to the implementation of measures.
- Regular follow-ups and reports on risk management ensure that risks are kept under control.
Determined by: Measures such as the frequency of risk management reports and follow-up meetings.
Strategic goal: Optimal capital structure
Measure with: Measures such as debt-to-equity ratio or return on equity (ROE).
Conditions:
- The balance between equity and debt is optimized to maximize the company's value and minimize risks.
Decided by: Expert judgment that assesses the efficiency and balance of the capital structure.
- Financing costs are optimized to ensure that the company receives capital at competitive terms.
Determined by: Measured as average interest on debt.
- The capital allocation is strategic and focused on long-term growth and profitability.
Decided by: Expert judgment that analyzes how capital is allocated in the company and its impact on long-term growth.
- Regular reviews of the capital structure are made to adapt it to changing market conditions.
Determined by: Measures such as the frequency of capital structure reviews and adjustments based on market conditions.
Share this article
Did you like this article? Here is more...
Latest
