Business Strategy & Goal Setting Flashcards

A coaching client wants to "grow the business" but cannot define what growth means. What should the coach do first?

Answer: Help the client convert the vague aspiration into a specific, measurable goal

Coaches guide clients to translate vague aspirations into specific, measurable goals rather than prescribing solutions.

In a SWOT analysis, a competitor's new product launch would be classified as which element?

Answer: Threat

External factors that could harm the business, such as competitor moves, are threats in SWOT.

Which statement best distinguishes a business's mission from its vision?

Answer: Mission describes current purpose; vision describes the desired future state

A mission states why the organization exists today, while a vision paints the future it aims to achieve.

A client sets a goal to "increase monthly revenue by 15% within six months." Which SMART criterion is most clearly missing?

Answer: None — the goal is specific, measurable, and time-bound

The goal names a metric, a target amount, and a deadline, satisfying the visible SMART criteria.

During strategic planning, what is the primary purpose of identifying key performance indicators (KPIs)?

Answer: To track measurable progress toward strategic objectives

KPIs quantify progress toward objectives so leaders can monitor and adjust strategy.

A business coach notices a client's goals conflict — cutting costs 20% while doubling the sales team. What is the most appropriate coaching response?

Answer: Facilitate a conversation to help the client prioritize and reconcile the conflicting goals

Coaches surface conflicts and help clients think through priorities rather than deciding for them.

Which planning horizon is most typical for an operational plan compared to a strategic plan?

Answer: One year or less, versus three to five years for strategic plans

Operational plans usually cover a year or less, while strategic plans typically span three to five years.