The executive management team’s goals are conceptual, broad-based, and define the acceptable level of risk tolerance and risk appetite within the organization. The executive management team’s strategic goals set the direction for the operational and tactical objectives for the rest of the organization. Executives allocate the resources necessary to fulfill objectives and goals at all levels.
Executives’ leadership role is to have responsibility for developing and achieving the organization’s strategic goals. For an organization to succeed, it is critical that its strategic goals are deployed and understood at each of its levels. Use of a detailed executive summary outlining the strategic plan with specific action items assists an organization’s operational staff in understanding strategic goals.