“If you don’t know where you are going, every road will get you nowhere.” - Henry Kissinger
The above quote highlights the importance of goal setting. However, I believe that goal setting itself is not enough. It is important that the top management sets the goals for the organization, but it is even more important that these goals are shared with team members at all levels within the organization and the entire team is not only aware of the organizational goals but is also fully aligned to them. Strong alignment between the organization goals with individual goals (KPIs/KRAs) is critical to organization success.
It is also important to note that there is a difference between goals and strategy. Many leaders confuse audacious goals and visions with strategy. While goals are where we want to reach, strategy defines “HOW” we are we going to reach there. Clearly defining “how” (strategy) are we going to achieve the goals is as important as setting the goals themselves.