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21 Long Term Business Goals

 , December 29, 2019 updated on January 01, 2020
Long term business goals are business targets that are more than two years in the future. It is common for organizations to be on a one year budget and performance management cycle such that long term goals are often ineffective as they have no resources behind them. However, it is possible to map out a series of current objectives that move you closer to long term goals such that they are actionable. The following are illustrative examples of long term goals.

Research

Developing valuable intellectual property, trade secrets and know-how.
Research the feasibility of using new advanced materials in our helmet designs to determine if we can achieve a leap forward in safety.

Product Development

In many cases, the process of developing and launching a product is a multi-year effort.
Develop and launch a snow goggle product that is quality and cost competitive with the top selling premium models.

Quality

Improving the quality of your products or services.
Remove all lead from all of our crystal glass products and change all packaging and marketing materials to include "lead-free crystalline" labels.

Infrastructure & Facilities

Building facilities and infrastructure can be a multiple year effort.
Build and operationalize our own factories to reduce cost, improve quality and reduce our dependence on manufacturing partners.

Business Capabilities

Business capabilities are things that you can accomplish on a repeated basis as an organization.
Develop the capability to design and manufacture our own goggle lenses.

Competitive Advantage

Developing capabilities that represent a true moat that competitors can't match.
Develop and patent a holographic display and input system for smart phones that allows the device to be extremely small due to its screenless design.

Cost

Reducing costs in a structural way can take several years.
Automate 16 out of 18 production steps to reduce unit cost of googles to less than $14.

Productivity

Productivity is the amount of value you create in an hour or month of work.
Reduce work hours consumed by the monthly billing cycle by 50% by correcting complex multi-system data quality issues that require manual correction and reprocessing each month.

Efficiency

Reducing your long term consumption of resources.
Add solar panel systems to facilities each year with a goal of reaching 100% net energy self sufficiency with 5 years.

Figure of Merit

A figure of merit is a measure of a product that customers use in their purchasing decisions.
Improve the conversion efficiency of our production solar panels to 21%.

Brand

Building brand recognition, awareness and image is often a multiple year effort.
Build a product that gets good reviews and send free product to a large number of media representatives to generate organic publicity. Target: brand recognition of 60% of target market within 3 years.

Market Development

Market development is the process of entering new markets.
Expand from carpentry services to include other trades such as plumbing and electrical. Goal: become a one-stop-shop for home renovation services. Measurement: revenue growth of 20% per year over 5 years to reach the $1 million a month mark.

Market Position

A market position is the unique value proposition of a brand or product in a crowded market.
Transform our helmet products with brave youthful designs selected by lead users. Offer significant product variety. Goal: brand perceived as youthful, trendy and stylish within 3 years. Measurement: benchmark current perceptions with a customer survey and improve results by 50% or more.

Market Penetration

Market penetration is the process of capturing a share of a market.
Increase sales volume with greater product variety and more distribution partners. Goal: 10% share of the coffee press market representing sales of 460,000 units a year within 3 years.

Business Model

A business model is the way that you generate and capture value. Changing your business model is typically a multi-year strategy.
Transform to a streaming media based business model for all content. Goal: 70% of media revenue from streaming media within 5 years, 50% of media revenue from recurring revenue sources.

Organizational Structure

Changing your organizational chart in some significant way.
Integrate IT with business units to create small multidisciplinary teams that are responsible for revenue and their own technology.

Organizational Culture

Culture are the intangible elements of an organization that aren't directly controlled by management such that they require time to change.
Develop a culture of brave experimentation where agents of change lead and resistance to change is sidelined.

Business Transformation

Business transformation is a broad term for a foundational change to an organization.
Transform from a centralized location with more than 1,000 staff working out of a single office to a decentralized model with smaller, geographically distributed offices and people working from home.

Compliance

Compliance to laws, regulations, standards and best practices. This can include anticipatory changes that prepare for potential future regulations before they arrive. In other words, it is common to set higher standards for yourself so that you never lag behind the law or your industry because you are leading a way forward.
Increase the amount of demolition and deconstruction waste materials that are recycled or reused to 50% from less then 2% today.

Innovation

Attempts to create a leap forward that changes your industry.
Develop an economical battery system for solar panels that allows people to go off the grid and for solar to challenge the power plant model of electricity generation.

Sustainability

Reducing your negative impact on people and planet.
Reduce our emissions of toxic chemicals at our manufacturing facilities to effectively zero within 3 years.

Goals

This is the complete list of articles we have written about goals.
Big Goals
Business
Career
Customer Service
Daily Goals
Efficiency
Employee
Future Goals
Intentions
IT
Leadership
Learning
Long Term
Management
Measurable
Objectives
Outcome Goals
Performance Goals
Personal
Process Goals
Productivity
Professional
Quality
Resolutions
Stretch
Types of Objectives
Work Goals
Workplace Goals
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Goals

The basic types of goal.

Professional Goals

A list of professional goals with measurable examples.

Productivity Goals

A list of common productivity goals and measurements with examples.

Leadership Goals

A list of common leadership goals with examples.

Management Goals

A list of measurable management goals with examples.

Management Objectives

A list of common management objectives with measurable examples.

IT Goals

A list of common IT goals with examples.

Efficiency Goals

An overview of efficiency goals with measurable examples.

Long Term Goals

An overview of long term goals with examples for job interviews, employees, businesses and students.

Customer Service Goals

Examples of customer service goals that use common metrics and measures.

Business Objectives

The common types of business objective.

Smart Objectives

The definition of smart objectives with examples.

Measurable Objectives

How to design measurable objectives for any goal.

Team Goals

A list of common team goals with examples.

Words To Describe Goals

A list of active verbs for describing goals.

Goals Examples

Examples of realistic and measurable goals.

Business Outcomes

A list of common business outcomes.

Business Benefits

An overview of business benefits with examples.
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