Strategic Objectives Definition: Macro-level metrics are the overall organization or cross-functional metrics used to drive strategy; and micro-level metrics are those measures that support the improvement and management of a particular project, program or initiative.
Strategic Objectives-The term “strategic objectives” refers to an organization’s articulated aims or responses to address major change or improvement, competitiveness or social issues, and business advantages. Strategic objectives generally are focused both externally and internally and relate to significant customer, market, product, or technological opportunities and challenges (strategic challenges). Broadly stated, they are what an organization must achieve to remain or become competitive and ensure long-term sustainability. Strategic objectives set an organization’s longer-term directions and guide resource allocations and redistributions.
Key Performance Indicators- At an organizational level, a Key Performance Indicator (KPI) is a quantifiable metric that reflects how well an organization is achieving its stated goals and objectives. In the illustration we can identify the objectives as stakeholders, investments, and employee productivity. Likewise, we can identify performance indicators as key components relevant to those objectives we have spelled out.
How does this type of matrix drive our performance management process? Good question and a good question that all managers should be aware of when budgeting for training programs, projects or employee development. The process should be transparent to all the programs regardless of the contributors and the performance indicators identified. Strategically managing this process through your business projects will help monitor actual costs, return on investment, resource allocation, and all the components required to successfully complete any project. The upside to managing your training projects like small business acquisitions is that the result in the delivery will result in measureable data to support your strategy or reflect on the weakness of your programs.