Analysis of Business Problems – Objective

This is the third of an eight-part series on the analysis of business problems. See the last part here.

The objective is the reason you start analyzing in the first place. It is the ultimate judge of all efforts. It is the end game.

The objective is the picture of success. It is the vision. It is the goal.

There is a popular quote, “Be stubborn about your goals, and flexible about your methods.”

If you are going to be stubborn about something, it is important you get it right so that you do not look like a fool wasting limited resources.

There is an interesting exchange between a Cheshire Puss and Alice in the book Alice’s Adventures in Wonderland –

“’Cheshire Puss,’ she began, rather timidly, as she did not at all know whether it would like the name: however, it only grinned a little wider.

‘Come, it’s pleased so far,’ thought Alice, and she went on.

‘Would you tell me, please, which way I ought to go from here?’

‘That depends a good deal on where you want to get to,’ said the Cat.

‘I don’t much care where–‘ said Alice.

‘Then it doesn’t matter which way you go,’ said the Cat.

‘…so long as I get SOMEWHERE,’ Alice added as an explanation.

‘Oh, you’re sure to do that,’ said the Cat, ‘if you only walk long enough.’”

If you do not where you are going you are sure to have a very long walk, and still have no guarantees of a destination.

It is preferable to know your objective.

Objectives need an optimistic slant. You cannot be negative about your objective and expect the outcome to be any different.

Three things to remember when writing out the statement of objective: Desirable State, Step Change, and SMART.

Desirable State:

The objective should paint a picture of what things will look like when the identified problem no longer exists.

In some instances, the desirable state might be developing the capability to benefit from the problem. It does not always have to be about eliminating the problem.

Step Change:

Objectives need to be challenging to raise the quality of thinking. Otherwise, a new problem will come up before you solve the previously identified problem, which could dilute the impact of all your effort.

A step change is like a buffer to ensure you move the needle.

It needs to be inspirational.

SMART:

This is an acronym for Specific, Measurable, Assignable, Realistic, and Time-Bound.

Specific – What exact area requires improvement?

Measurable – How will you measure progress?

Assignable – Who will do it?

Realistic – What is achievable given the available resources?

Time-bound – When will we see the desired results?

“Goals are like magnets. They’ll attract the things that make them come true.” – Tony Robbins

Be bold in your objectives, and the alternatives required to make them possible will come running in.

#MEMBA11 #ABP #Zazparelli