Much has been written in various business journals about the mythical stretch goal. Above and beyond your standard SMART goal (specific, measurable, achievable, relevant, time-bound) stretch goals aim to totally transform businesses, pushing them to new heights.
Elon Musk is a famous proponent of this 'shoot for the moon' approach. His company SpaceX aims to do nothing short of put people on Mars. The sheer audacity of the goal has meant they've made some terrific progress.i
On the hand, sister company Tesla recently failed to meet more than 20 of their ambitious projections.ii So, while stretch goals can be transformative, they are also risky business, and only some companies are in a position to take them on.