Answer:

Which of the Following is True of the Strategic Goals of an Organization?

The strategic goals of an organization are the targets the business sets to achieve in order to successfully reach its overall objectives. Goals provide focus and direction, while also providing a means for measuring and evaluating progress toward the desired outcomes. The five stages of the strategic management process are goal-setting, analysis, strategy formation, strategy implementation, and strategy monitoring. When creating a strategic plan, the organization should develop goals that align with its vision and mission statements. The goals should be specific and achievable, and the organization should also set targets for them and evaluate the progress of the goals and targets to ensure that the plans are being achieved.

Goal Setting

The first step in the strategic management process is goal-setting. This involves the setting of clear goals that align with the mission and vision of the organization and its overall objectives. The goals should be specific, measurable, achievable, and time-bound, and should be adopted by all members of the organization. The goal-setting process should also clearly define the roles and responsibilities of each team or department within the organization.

Analysis

Once the goals have been established, the next step in the process is to analyze the current situation to identify any potential weaknesses or risks. This includes evaluating the organization’s internal resources, including personnel, processes, and technology, as well as external factors such as the competitive environment and the economic climate. This analysis will provide the basis for forming the strategies that will be used to achieve the desired outcomes.

Strategy Formation

Once the analysis is complete, the organization can move on to formulating strategies to reach the desired goals. This involves identifying the necessary resources and developing plans to allocate them in the most effective way. It also involves analyzing the competitive environment and the economic climate to determine the best course of action for achieving the desired outcomes.

Strategy Implementation

The next step is to implement the strategies developed in the strategy formation stage. This usually involves setting up teams and assigning tasks to them in order to ensure that the strategies are properly implemented. This also includes monitoring and measuring the progress of the teams and adjusting the strategies when necessary.

Strategy Monitoring

Finally, the organization should monitor the progress of the strategies and fine-tune them as necessary. This involves evaluating the results of the implemented strategies to ensure that the desired outcomes are being achieved. It also involves evaluating the competitive environment and the economic climate to identify any potential opportunities or threats.

In conclusion, when creating a strategic plan, the organization should develop goals that align with its vision and mission statements. The goals should be specific and achievable, and the organization should also set targets for them and evaluate the progress of the goals and targets to ensure that the plans are being achieved. By following the strategic management process, organizations can ensure that their strategies are effective in achieving the desired outcomes.