{"id":345,"date":"2016-08-05T16:22:25","date_gmt":"2016-08-05T16:22:25","guid":{"rendered":"http:\/\/blogzynergy.com\/bz\/?p=345"},"modified":"2016-08-05T16:22:25","modified_gmt":"2016-08-05T16:22:25","slug":"setting-achievable-corporate-goals","status":"publish","type":"post","link":"https:\/\/blogzynergy.com\/bz\/index.php\/2016\/08\/05\/setting-achievable-corporate-goals\/","title":{"rendered":"Setting Achievable Corporate Goals"},"content":{"rendered":"\"Facebook\"<\/a>\"twitter\"<\/a>\"reddit\"<\/a>\"pinterest\"<\/a>\"linkedin\"<\/a>\"mail\"<\/a>

Before you can begin goal setting, it\u2019s essential to create a blueprint for how the process will unfold<\/p>\n

Recommends five points in the company plan:<\/p>\n

    \n
  1. Mission statement<\/li>\n
  2. Vision statement<\/li>\n
  3. Fiscal year priorities<\/li>\n
  4. Strategies<\/li>\n
  5. Monthly monitoring and managing meetings.<\/li>\n<\/ol>\n

    Beginning with a mission statement, each step flows into the next\u00a0\u2014\u00a0and goal setting begins after the mission and vision statements are finished. The process needs to be simple. \u201cThe more complex it is, the less people are enjoying it,\u201d To be effective, goals should follow the \u201cSMART\u201d format. That means they should meet these criteria:<\/p>\n

    S<\/strong>pecific
    \nM<\/strong>easurable
    \nA<\/strong>chievable
    \nR<\/strong>esults oriented
    \nT<\/strong>ime sensitive<\/p>\n

    As goals are set within the organization, finding the right amount of \u201cstretch\u201d\u00a0\u2014\u00a0for growth\u00a0\u2014\u00a0is crucial.<\/p>\n

    \u201cToo easy\u201d goals do not boost performance, so they are of little value, but studies show it is best to challenge employees, expect them to challenge themselves, with goals that are attainable, but with considerable effort.<\/p>\n

    Overdoing Financial Goals?<\/strong>\u00a0\u2014\u00a0Often, CEOs fall prey to the allure of setting only financial goals. that compromises the other reasons they are in business\u00a0\u2014\u00a0such as employing people and contributing to their communities.<\/p>\n

    Corporate Goal Categories \u2014 <\/strong>Goals in four areas\u00a0\u2014\u00a0financial, customer service, employee-based (centering on learning and innovation) and internal business process, other categories, including image and reputation, community relations\/philanthropy, sales and marketing.<\/p>\n

    Whichever categories you choose\u00a0\u2014\u00a0or if you customize them for your own organization\u00a0\u2014\u00a0the final product should reflect your corporate purpose and path.<\/p>\n

    Setting Employee Goals<\/strong>\u00a0\u2014\u00a0In his work for the textbook \u201cOrganizational Behavior,\u201d whether it\u2019s better for employees to set goals in a particular environment, or for them to set goals by themselves, or whether they do best with assigned goals. No one method seems to be better than the other, in terms of outcome and performance.<\/p>\n

    The more closely a manager can match the employees\u2019 wishes with the goal-setting style, the better the chances for an outcome everyone seeks.<\/p>\n

    Linking Monetary Incentives to Goals<\/strong>\u00a0\u2014\u00a0Bonuses and other pay-for-performance incentives are gaining in popularity, but they work only under certain conditions.<\/p>\n

    Studies show that pay should not be linked to achieving goals unless:<\/p>\n