e-Business Plan: Business Goals

From a planning perspective there is a big problem with the mission statement you have written. It promises a lot but does not say how the company intends to deliver on that promise. That is why a business plan also needs goals.

The purpose of this lesson is to assist you in writing several goals for your e-business. The lesson describes business goals through a list of characteristics and examples, and then provides instructions to write several business goals for your e-business plan.

The lesson outline is:
What is a Business Goal?
  • Business goal characteristics
  • Business goal examples
  • How to Write Business Goals

    What is a Business Goal?

    A goal is a statement that clearly describes actions to be taken or tasks to be accomplished by a company, a department or an individual. A business will have a number of goals, each describing a desired future condition toward which efforts are directed. If the goals are accomplished, then the business should be a success.

    The dual purposes of goal setting are (a) to establish a measure for evaluating the success of the business and (b) set priorities for its management and staff, who should be held accountable for the accomplishment of the goals. Goals help keep management focused on success and away from distractive activities that drain business resources and accomplish little.

    Business goal characteristics: Common characteristics of a business goal are:

    Business goal examples: What does a goal look like? Here are a few examples that support the mission statement for Purma Top Gifts:

    In the business plan, each goal statement should include 1-3 sentences of explanation to explain the goal to the business plan reader. For example:

    Establish a partnership program that generates increased exposure and income for Purma Top Gifts and provides additional services for our customers. Purma Top Gifts cannot be all things to all customers, so Purma Top Gifts will partner with vendors who offer goods and services our customers need, but which we do not provide. Potential partners include Purma-oriented information services, travel agencies, and tourism operators. Partnership activities such as link exchanges, affiliate programs, and banner ad exchanges will give Purma Top Gifts increased visibility on the Web at minimum cost while assisting our customers.

    How to Write Business Goals

    Writing business goals is a fairly straightforward exercise that can use some of the information you generated while writing the mission statement (e.g., target markets, services or products your company will provide).

    With the mission statement in mind, make a list of the things that have to happen to fulfill that mission. This is an exercise that focuses on the task-oriented characteristic of a business goal. Then frame the goal statement and the brief explanation around the other goal characteristics— especially specific and challenging.

    You now have all you need to write the business goals, as required in assignment 4 in the Business Description lesson.

    Navigation Guide for the e-Business Plan Tutorial
    Introduction to the E-Business Plan Tutorial
       Top Ten Resources for Writing an e-Business Plan
    Fundamentals of e-Business Planning
    Writing a "Read Right" Plan
    Executive Summary
    Business Description
       Mission Statement
       Business Goals
       Project Objectives
       Business Model
    Market Analysis
    Competitor Analysis
    Financial Statements
    Making an Effective Business Plan Presentation
    Appendix: e-Business Plan Tutorial Assignments

    This e-Business Plan lesson was last updated on June 7, 2005. Questions, comments, and suggestions for improvement can be sent to Dennis Viehland (d.viehland@massey.ac.nz).