First things first...

"If you don't know where you're going, then sure as anything you won't get there."

by Vadim Kotelnikov, Founder, 1000ventures.com

Setting Goals

The major outcome of strategic road-mapping and strategic planning, after gathering all necessary information, is the setting of goals for the organization based on its vision and mission statement. A goal is a long-range aim for a specific period. It must be specific and realistic. Long-range goals set through strategic planning are translated into activities that will ensure reaching the goal through operational planning.

Setting Objectives 

Setting objectives involves a continuous process of research and decision-making. Knowledge of yourself and your unit is a vital starting point in setting objectives.

Strategic planning takes place at the highest levels. The first step in operational planning is defining objectives - the result expected by the end of the cycle.

The objectives must be:

• be focused on a result, not an activity
• be consistent
• be specific
• be measurable
• be related to time
• be attainable
  
  
  
  
  
  
  
  
  
  
  
  Source: http://it4b.icsti.su/1000ventures_e/business_guide/crosscuttings/vision_mission_strategy.html