This document provides tips for setting annual goals and objectives using a balanced scorecard approach across four themes: customer, product, people, and finance. It recommends creating SMART goals (specific, measurable, achievable, relevant, and time-bound) in these areas and provides guidelines for management goals focusing on hiring/retaining talent, team development, implementing best practices, and delivering products that delight customers. Progress should be tracked quarterly and key performance indicators must be actionable, accessible, and auditable to ensure goals are met.

1. Tips to set Annual Goals & Objectives
Anita Rao
January 2014

2. Agenda
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Y?
Balanced Score card
Customer
Product
People
Finance
SMART Goals
Management Specific Goals
Conclusion

3. Y?
First plan the work then work the plan all year round

4. Balanced Scorecard Themes
Customer
Product
Finance
People
4

5. Customer
Customer
• Customer Management
• Selection, Acquisition, Growth, Retention
• Measures: NPS, Customer Acquisition, Retention, Satisfaction,
Profitability
Product
Finance
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People

6. Product
Product
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Product / service capabilities that deliver value
Partnership
Service and Support
Brand
• Measures: Number of products/capabilities delivered,
Customer NPS,Time to Market, % of revenue from new
products/capabilities
Customer
Finance
People
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7. People
Customer
Product
People
Finance
• Human Capital
• Organization Capital (Leadership, alignment, teamwork,
culture)
• High performing teams
• Employee growth and development
• Measures : Employee NPS, Retention, Revenue per employee
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8. Finance
Customer
Finance
Product
People
• Growth, Sustain, Harvest
• 2 broad perspectives
• Growth (Expand revenue opportunities, enhance
customer value)
• Productivity (improve cost structure, increase asset
utilization)
• Measures:Top line growth, cost efficiency, cost reduction,
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9. What are SMART Goals?
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Specific – state exactly what you want to accomplish
Measurable – how will success be measured
Achievable – stretch and challenging goals (use action verb)
Relevant – how is it tied to objectives and responsibilities
Time bound – specify target dates to guide by when the
result(s) are expected
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10. Guidelines for Management Goals
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Hire and Retain Top Talent
Train and Develop Team
Build High Performing Team (see presentation on High Performing Team)
Introduce and successfully implement best practices across team
Generic for Teams
 Deliver successful products that delight customers
 Customer NPS
 Product relevant KPIs
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11. Conclusion
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Track and report progress throughout the year –
quarterly at a minimum
Ensure that KPIs or measures are
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Actionable, accessible and auditable
Communicate results internally and externally
Celebrate and reward success!!!

12. Thank You
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