We at Social Triangle believe that every business generates hard earned money which should be spent on promotional activities of your Brand with clear objectives at the beginning of business planning.

In this article, I’ll highlight the importance of Goals and Objectives for any Business. Both Goals and Objectives help to express the purpose for which Business exists. The terms goals and objectives are often used interchangeably, but they have important differentiating attributes. They are used at different stages of the business planning process, and each serves a different purpose.

Goals

Goals are statements you make about the future for your business. They represent your aspirations for it. You might say, “We seek to be the most favored Non-Vegetarian Restaurant in the city.” This statement demonstrates that you have lofty plans for your business, but it does not say specifically how you can meet your goal.

Setting goals helps define the direction that a business will take. The language used in goals can be more emotional than is used in objectives.

Goals should align with your business’ mission and vision statements, which are even more general and abstract statements of your business’ values and aspirations. Goals allow business owners to think conceptually and not be stifled in their creative thought process.

Objectives

Objectives are the exact steps your company must take to reach its goals. They are written without emotion, and they are typically measurable and quantifiable. They also are realistic and attainable and have an associated timeline. For example, an objective for the goal statement of being the most favored Non-Vegetarian Restaurant in the city “We will increase our sales by 3 percent in each quarter of this year in each region in which we currently operate .” Another objective might be, “We will open new branches and plants in two states per quarter this year.”

Importance of ObjectivesBusinesses use objectives to measure their success and progress toward their goals. Without them, goals seem out of reach. Objectives can be motivational to business owners and employees, as meeting objectives provides a sense of accomplishment. When your objectives are easy to write, it is an indication that your overall business strategy is on the right track, according to business plan writer, Andrew Smith.