Objectives, Strategy, and Goals - What's the Difference?

Many people use the above terms interchangeably.  Well, they're certainly all related although used - at least in my firm as related to corporate real estate - as different parts of an overall operational plan.

 

Here's our breakdown:

Objectives - This is a statement(s) of your corporation's operating imperative as it relates to your primary business stated in a way that can be supported by a real estate strategy.   Corporate image, geographical coverage, service to customers, and cost objectives may be included.   These are your Real Estate Best Practices.  

Strategy - A statement of how you specifically will support the Objectives above.   The methodology that will deliver above average results (meaning better than your competitors').   

Goals - A specific metric that will be obtained, with a timeline for achievement. Your goals should be well defined, measurable, and have milestones that will determine if you are on track.   

All well managed corporate real estate utilizes all three components to deliver a world class facility solution.  Have you defined yours?