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It's that time of year--leaders everywhere are charging employees with the task of establishing goals for 2018. If you've never been through a structured process, this exercise can be daunting, and frankly, feel like a big waste of time. I can assure you, it's not. 

Setting goals is critical. Goals provide direction, help you focus, prioritize your time and energy, and ensure that you can objectively prove you've advanced the company's agenda.

But just any goal won't do. Research shows that goals are not only important but also that the level of specificity and difficulty matters. Goals that are both clear and challenging drive higher levels of performance.

To set their teams up for success, many organizations use SMART goals. Google leaders use something a little different--"Objectives and Key Results" (OKRs). On Google's re:Work site, a resource that shares the company's perspective on people operations, Google explains the concept.

Many strategy execution processes fail because the firm does not have something worth executing.

The strategy consultants come in, do their work, and document the new strategy in a PowerPoint presentation and a weighty report. Town hall meetings are organized, employees are told to change their behavior, balanced scorecards are reformulated, and budgets are set aside to support initiatives that fit the new strategy. And then nothing happens.

One major reason for the lack of action is that “new strategies” are often not strategies at all. A real strategy involves a clear set of choices that define what the firm is going to do and what it’s not going to do. Many strategies fail to get implemented, despite the ample efforts of hard-working people, because they do not represent a set of clear choices.

Many so-called strategies are in fact goals. “We want to be the number one or number two in all the markets in which we operate” is one of those. It does not tell you what you are going to do; all it does is tell you what you hope the outcome will be. But you’ll still need a strategy to achieve it.