Difference Between Goals and Strategies
Goals vs Strategies
Every business, in fact every individual, must have a goal in order to succeed. It involves having to set a certain standard or level that one has to reach and which would require the development of several strategies that would set the pace and serve as guide towards the achievement of the goal.
A goal is defined as the desired result that a person or system anticipates and plans to accomplish. It is also referred to as the objective of any business plan or personal undertaking. The expected result acts as a guide for whatever action that the individual or company is taking towards the fulfillment of its goals.
It is also similar to a specific, realistic, and attainable aim which usually has a deadline. Goals can either be short term or long term and can be any of these types:
Consumer goal which is concerned with supplying the demand of consumers for a certain product.
Product goal which is concerned with producing products that are of higher quality.
Operational goal which is concerned with the proper management of resources for the efficient operation of the business.
Secondary goal which is concerned with all other goals of the company that are not considered as priorities.
It involves the proper utilization of resources to achieve the desired results. With these results in mind, strategies are developed in order to achieve what is desired.
Strategies are the methods by which goals are expected to be achieved. It involves the direction to which the company is gearing, the scope of the market, how it can compete with other companies, the expectations of people who run and control the business, and other factors that can affect the achievement of the company’s goals.
There are three types of business strategy: corporate strategy which deals with how to meet the expectations of the stakeholders; business unit strategy which deals with how the business can compete in a certain market; and operational strategy which deals with the utilization of resources towards the achievement of a company’s goals.
A strategy, therefore, is the means by which the goal of the company is attained. Every business enterprise has a common goal, that is, to become profitable and earn sufficient income for its owners. To achieve these goals, it needs to be competitive and utilize its resources efficiently. The achievement of these goals will depend largely on the strategies developed by its management.
1.A goal is defined as the result which an individual or company plans to accomplish while a strategy is defined as the method by which the goal is achieved.
2.Goals can be achieved in the long term or short term depending on the strategies that an individual or a company develops and uses.
3.Both are geared towards the success of an individual or a business; the goal serves as the specific aim which inspires individuals to work efficiently while the strategy serves as the pattern, system, or means by which the goal is reached or achieved.
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