A long term goal is something you want to do further in the future. Long-term goals require time and planning, and they are not something you can do achieve in a short period of time. Long term goals usually take between 12 and 24 months to achieve. These strategic goals are typically more general, such as “increase percentage of sales online” or “capturing 30% of the market”
It’s important that you have the ability, as a manager, to set long term goals and constantly have the future in mind. Future thinking is paramount to the success of the organisation. All top executives think in the future rather than the present, and make subtle changes to business objectives to meet these goals.
There is a technique known as the G.O.S.P.A formula which will assist you when setting future goals:
Determine where it is you would like to the company to achieve by a specific date. These can be as simple as increasing web traffic, increasing foot traffic, or increasing product channels. They can also be a bit more strategic, like increasing profitability, increasing production levels, increasing sales volumes, etc. In order to measure these results effectively, it's important to put in place start dates and end dates (usually from quarter to quarter, or year to year)
Objectives are seen as “sub goals”. These are the activities needed to complete the overall goal. For example, if one of the goals is to increase sales volumes to a certain number, your objectives will be in the area of sales, marketing, staff development, technology and so on.
Strategies is the method that you will use to accomplish the objective on the way to the goal. so For example, increasing productivity, could be increasing manufacturing efficiencies, outsourcing components, employing more staff members, purchasing machinery, etc.
Prioritize what you feel needs to be completed first in order to achieve the objective and then the overall goal. Some strategies may take longer to implement, but are the most crucial to achieving the outcome. For example, prioritizing the purchasing of equipment is time and cost intensive and may take longer than employing more staff members.
Activities are the daily functions that are clearly delegated to specific individuals with standards of performances. how will they function to meet the objectives and overall goal. For example, increasing web traffic, a blogger could be given the task of writing a certain number of articles for a specific deadline.
Remember long term goals are set out by executives and managers implement these goals. There must be clear and concise plans put in place, so that every person in the organisation knows and understands what they are working toward.