Business Strategy & Goal Setting Flashcards

A client's five-year vision requires skills the current team lacks. What should the strategic plan include?

Answer: A capability-building component such as hiring, training, or partnerships

Strategy must bridge capability gaps through development, hiring, or partnering to make the vision achievable.

Which metric type do OKRs pair with each objective?

Answer: Key results that quantify achievement of the objective

OKRs combine a qualitative objective with measurable key results that define success.

A solopreneur client resists writing down goals, saying "I keep them in my head." What evidence-based point can the coach share?

Answer: Written goals with regular review significantly increase the likelihood of achievement

Research consistently shows writing goals and reviewing them regularly boosts commitment and achievement.

In scenario planning, what is the coach helping the client prepare for?

Answer: Multiple plausible futures so strategy stays robust under uncertainty

Scenario planning tests strategy against several plausible futures rather than betting on a single forecast.

A client hits a major goal three months early. What is the most valuable next coaching step?

Answer: Debrief what drove the success, then set the next goal building on those insights

Debriefing wins extracts repeatable success factors and maintains momentum into the next goal cycle.

Which situation best illustrates a lagging indicator versus a leading indicator?

Answer: Quarterly profit is lagging; weekly sales calls made is leading

Lagging indicators report past results like profit, while leading indicators such as activity levels predict future outcomes.

A client's strategic plan has not been revisited in two years despite major market shifts. What principle should the coach reinforce?

Answer: Strategy requires periodic review and adaptation as conditions change

Effective strategy is a living process that is reviewed and adjusted as market conditions evolve.