The fourth quarter gives us a chance to reflect on our accomplishments and challenges during the past year. It is also a time to begin thinking about our objectives for next year. Yearly objective setting involves balancing the key initiatives of the company, the objectives of our department and our own personal goals. Follow this four-step process in setting your objectives for next year: Identify your department's opportunities and challenges. List your department's key initiatives for next year. Identify your personal opportunities and challenges. List your personal career goals and objectives. Set mutually acceptable objectives with your manager based on these four inputs.