Goal selection the key to success
Goal selection the key to success
Once an organization has decided what business it is in, it can focus on its goals, aims, and objectives. In contrast to a mission statement, corporate or business objectives are precise statement of intent which emphasized the aims and goals of an organizations.
1.1 What is Goals?
Goals:
Define the key areas in which to expect strategic results and what is expected.
Not measurable as stated, but contain factors that will be measurable as Objectives.
With Mission and SEPs determine what Objectives should be selected.
Goals represent where the leadership team wants the business to go; they are the aspirations, realistic aspirations, for the future.
For most strategic business plans five types of goal are used in the framework: distinctive capability, market/product/service, Identity, people and efficiency. For the ready reference of readers the difference between team with goal and without goal is given in table-1
1.1.1 Distinctive capability:
The combination of business processes, attributes and competencies that distinguishes the company and creates competitive advantage. It will also enable it to seize the opportunities that arise in the future that match its strategic direction.
This goal answers the question: “ what business or organizational capability exists or can be created in the next three to six years that is superior to any competitor’s and will enable us to attain a significant competitive advantage in our chosen markets? This goal is the most difficult goal to develop. It usually takes two or three times as long to determine as the other goals.
The key to developing the distinctive capability is to understand and develop a clear business model. Once this is complete it becomes clear what capability is required to create sustainable competitive advantages, and this, together with an understanding of the current major strategic strengths, will indicate the area where the company has to create the distinctive capability.
1.1.2 Market / product / service
The focus of application for the skills and competencies of the company.
Market /product/ service defines the markets on which the business will focus and the products or services it will supply.
This goal defines the markets the company will operate in, and the products and services it will sell in those markets. It both describes this business domain and explains why it is attractive to the company.
For example, when Philip Morris acquired 7 up, the soft drinks company, it looked like a good strategic match. They had built the largest selling cigarette brand in the world with Marlboro, taken miller from seventh position to second in the US brewing league, and so could really claim to understand consumer good marketing. Philip Morris’s skill lay in transplanting the brand marketing ability they had developed with their cigarettes and beers to the package food business.
The market / product / service goal defines the markets that the company understands and wants to continue in, and the adjacent or new markets it wants to expands into.
Market / product development chart:
In developing the market /product / services goal the leadership team and / or the marketing / sales group will have undertaken a number of exercises. They will have.
Analyze the market in term of its end users, trends and drivers
Analyzed the market attractiveness in relation to your company strengths.
Considered the breadth of your offering in terms of market and product
Compared your strategic position to that of your competitors
Analyzed your total range to ensure that it makes sense to your potential customers.
Broken down your market/ product offering in to its smallest practical segments
Analyzed the customers for each segment in terms of their buying values and potential discriminators.
1.1.2.1. Identity expresses how the business will be recognized and thought of by customers, employees and all the audiences it wants to influence.
The identity is concern with how the company is marketed. It is the image of the company that you want in the customer’s mind. A good reputation and a clear image of what the company represents to customers is worth a fortune in future business.
Communicating a clear positive perception and image of the company to each of the audiences who are important to its future well-being.
The identity that a company or brand holds is easy to check with well-known names. Ford has been promoting the safety features of the Taurus, showing how a parent cares for the family through driving a safe vehicle.
1.1.2.2. People: The goals will only be achieved through the efforts of people. Execution is through organization and its people: they must know what is expected of them and how their behavior and the culture they help create is essential to the strategy implementation. The people goal might be called software side of the distinctive capability goal. It represents the organization’s shared values, the behaviors that will be required, and the organization structure that will deliver the strategy, the culture that makes it live.
Organizing the skills and competencies of the company to meet the needs of the customers both now and in the future.
The advantage of having business values that are recognized as being strong is that customers are increasingly buying a reputation rather than a product.
The people goal, therefore, deals with the organization structure of a company, its values, as expressed in its standards and behaviors and its relationship with people, both employees and others.
1.1.2.3. Efficiency determines how the business will perform operationally.
Ensuring the business is focused on the correct activities is run as efficiently as any competitor and fully exploits the potential of e commerce.
Strategy is a marathon, not a 100-meter dash, yet running at over 12 mph for 26 miles takes disciplined training, a tough mental attitude and a superb physique.
Efficiency became a key survival factor for most businesses, and a success factor for many companies. The Internet will now spur an even greater drive for efficiency. Customer can now browse the Internet to find the lowest price for a product or component.
The purpose of this goal is to ensure that efficiency is high on the agenda of all companies.
1.1.2.4.Suggested approach to improving efficiency:
Review the efficiency survey and decide if and where the business needs to change.
Develop a flowchart of the current business model.
Decide on the areas that are critical – the fulcrum points that give real leverage –and review where improvements or total re-engineering might be appropriate.
Review the areas, processes and functions where the greatest cost is incurred and explore all the cost reduction possibilities.
Explore the potential internal impact of e- business on the company.
Develop a new business model or models if / as appropriate.
1.1.2.5. Option: customizing the strategy to meet the special needs of an organization.
The optional goal:
For some companies there is a need to highlight a particular issue with an additional goal. Such issues may include safety and the environment. For many companies, especially in construction and heavy engineering, safety is an absolutely key issue. Achieving accident free operations makes both human and business good sense. Therefore many companies involved in dangerous activities develop a safety goal.
Let’s look at British Airway’s goals again:
(To be) the customer’s choice-the airline of first choice in key markets.
(To show) strong profitability –meeting investor’s expectations and securing the future;
(To be) truly global –(with a) global network, global outlook: recognized every where for superior value in world travel;
(To employ) inspired people –building on success and delighting customers.
Goals are based on judgments about the key success area over the next few years. Whereas missions are important in ensuring continuity of purpose over longer periods.
1.2 How do Create Company goals and objectives?
• Goals – broad, long-range attributes to be accomplished.
• Objectives – more detailed, specific targets of performance that are S.M.A.R.T.
Specific, Measurable, Attainable, Realistic (yet challenging), Timely
Types of goals:
1.2.1 Areas of Organizational Work
Technology and operations
Marketing
Financial
1.2.2 Breadth
Organization-wide
Operational
1.2.3 Specificity
Specific
Directional
1.2.4 Time Frame
Long term
Short term
Criteria are the indicators of successful performance on the job. Good performance goals, objectives, and criteria are:
• Job related
• Challenging, but achievable
• Clearly communicated and mutually understood
• Specific and objective
• Time-oriented
• Written
• Subject to revision, as needed
1.3 Characteristics of Good Goals:
Written in terms of outcomes rather than actions
Measurable and quantifiable
Clear as to a time frame
Challenging yet attainable
Written down
Communicated to all organizational members
Table 1. Characteristics of Teams
Teams without Goals Teams with Goals
• Highly stressed - Competition is high. Individual achievement is all important.
• Error prone - Everyone tries harder and rushes faster, only to start again. Everyone is increasingly frustrated.
• NonCooperative - Helping someone else means they might get ahead. Everyone else is the enemy. Management likes the others better. It's only through shrewdness that anyone can beat the system and stay ahead. • Relaxed - No fear. Everyone knows what is going to happen.
• Right every time - Everyone knows what is expected and they become more proficient with increased satisfaction.
• Highly cooperative - Everyone is dependent upon the others in the team to get the job done right.
• Highly trusting - If everyone does his part, they will all be rewarded.
• High morale - Work is fun. Life is good. Everyone gets better all the time.
• Adjusted to the system - Everyone made the system work for them.
• Happy with management - Everyone likes management. Management treats them with respect and does not change the rules.
Goal selection the key to success - To learn more about this author, visit Devang Jhaveri's Website.
Like this article? Share it with your friends
1.0 General:
Once an organization has decided what business it is in, it can focus on its goals, aims, and objectives. In contrast to a mission statement, corporate or business objectives are precise statement of intent which emphasized the aims and goals of an organizations.
1.1 What is Goals?
Goals:
Define the key areas in which to expect strategic results and what is expected.
Not measurable as stated, but contain factors that will be measurable as Objectives.
With Mission and SEPs determine what Objectives should be selected.
Goals represent where the leadership team wants the business to go; they are the aspirations, realistic aspirations, for the future.
For most strategic business plans five types of goal are used in the framework: distinctive capability, market/product/service, Identity, people and efficiency. For the ready reference of readers the difference between team with goal and without goal is given in table-1
1.1.1 Distinctive capability:
The combination of business processes, attributes and competencies that distinguishes the company and creates competitive advantage. It will also enable it to seize the opportunities that arise in the future that match its strategic direction.
This goal answers the question: “ what business or organizational capability exists or can be created in the next three to six years that is superior to any competitor’s and will enable us to attain a significant competitive advantage in our chosen markets? This goal is the most difficult goal to develop. It usually takes two or three times as long to determine as the other goals.
The key to developing the distinctive capability is to understand and develop a clear business model. Once this is complete it becomes clear what capability is required to create sustainable competitive advantages, and this, together with an understanding of the current major strategic strengths, will indicate the area where the company has to create the distinctive capability.
1.1.2 Market / product / service
The focus of application for the skills and competencies of the company.
Market /product/ service defines the markets on which the business will focus and the products or services it will supply.
This goal defines the markets the company will operate in, and the products and services it will sell in those markets. It both describes this business domain and explains why it is attractive to the company.
For example, when Philip Morris acquired 7 up, the soft drinks company, it looked like a good strategic match. They had built the largest selling cigarette brand in the world with Marlboro, taken miller from seventh position to second in the US brewing league, and so could really claim to understand consumer good marketing. Philip Morris’s skill lay in transplanting the brand marketing ability they had developed with their cigarettes and beers to the package food business.
The market / product / service goal defines the markets that the company understands and wants to continue in, and the adjacent or new markets it wants to expands into.
Market / product development chart:
In developing the market /product / services goal the leadership team and / or the marketing / sales group will have undertaken a number of exercises. They will have.
Analyze the market in term of its end users, trends and drivers
Analyzed the market attractiveness in relation to your company strengths.
Considered the breadth of your offering in terms of market and product
Compared your strategic position to that of your competitors
Analyzed your total range to ensure that it makes sense to your potential customers.
Broken down your market/ product offering in to its smallest practical segments
Analyzed the customers for each segment in terms of their buying values and potential discriminators.
1.1.2.1. Identity expresses how the business will be recognized and thought of by customers, employees and all the audiences it wants to influence.
The identity is concern with how the company is marketed. It is the image of the company that you want in the customer’s mind. A good reputation and a clear image of what the company represents to customers is worth a fortune in future business.
Communicating a clear positive perception and image of the company to each of the audiences who are important to its future well-being.
The identity that a company or brand holds is easy to check with well-known names. Ford has been promoting the safety features of the Taurus, showing how a parent cares for the family through driving a safe vehicle.
1.1.2.2. People: The goals will only be achieved through the efforts of people. Execution is through organization and its people: they must know what is expected of them and how their behavior and the culture they help create is essential to the strategy implementation. The people goal might be called software side of the distinctive capability goal. It represents the organization’s shared values, the behaviors that will be required, and the organization structure that will deliver the strategy, the culture that makes it live.
Organizing the skills and competencies of the company to meet the needs of the customers both now and in the future.
The advantage of having business values that are recognized as being strong is that customers are increasingly buying a reputation rather than a product.
The people goal, therefore, deals with the organization structure of a company, its values, as expressed in its standards and behaviors and its relationship with people, both employees and others.
1.1.2.3. Efficiency determines how the business will perform operationally.
Ensuring the business is focused on the correct activities is run as efficiently as any competitor and fully exploits the potential of e commerce.
Strategy is a marathon, not a 100-meter dash, yet running at over 12 mph for 26 miles takes disciplined training, a tough mental attitude and a superb physique.
Efficiency became a key survival factor for most businesses, and a success factor for many companies. The Internet will now spur an even greater drive for efficiency. Customer can now browse the Internet to find the lowest price for a product or component.
The purpose of this goal is to ensure that efficiency is high on the agenda of all companies.
1.1.2.4.Suggested approach to improving efficiency:
Review the efficiency survey and decide if and where the business needs to change.
Develop a flowchart of the current business model.
Decide on the areas that are critical – the fulcrum points that give real leverage –and review where improvements or total re-engineering might be appropriate.
Review the areas, processes and functions where the greatest cost is incurred and explore all the cost reduction possibilities.
Explore the potential internal impact of e- business on the company.
Develop a new business model or models if / as appropriate.
1.1.2.5. Option: customizing the strategy to meet the special needs of an organization.
The optional goal:
For some companies there is a need to highlight a particular issue with an additional goal. Such issues may include safety and the environment. For many companies, especially in construction and heavy engineering, safety is an absolutely key issue. Achieving accident free operations makes both human and business good sense. Therefore many companies involved in dangerous activities develop a safety goal.
Let’s look at British Airway’s goals again:
(To be) the customer’s choice-the airline of first choice in key markets.
(To show) strong profitability –meeting investor’s expectations and securing the future;
(To be) truly global –(with a) global network, global outlook: recognized every where for superior value in world travel;
(To employ) inspired people –building on success and delighting customers.
Goals are based on judgments about the key success area over the next few years. Whereas missions are important in ensuring continuity of purpose over longer periods.
1.2 How do Create Company goals and objectives?
• Goals – broad, long-range attributes to be accomplished.
• Objectives – more detailed, specific targets of performance that are S.M.A.R.T.
Specific, Measurable, Attainable, Realistic (yet challenging), Timely
Types of goals:
1.2.1 Areas of Organizational Work
Technology and operations
Marketing
Financial
1.2.2 Breadth
Organization-wide
Operational
1.2.3 Specificity
Specific
Directional
1.2.4 Time Frame
Long term
Short term
Criteria are the indicators of successful performance on the job. Good performance goals, objectives, and criteria are:
• Job related
• Challenging, but achievable
• Clearly communicated and mutually understood
• Specific and objective
• Time-oriented
• Written
• Subject to revision, as needed
1.3 Characteristics of Good Goals:
Written in terms of outcomes rather than actions
Measurable and quantifiable
Clear as to a time frame
Challenging yet attainable
Written down
Communicated to all organizational members
Table 1. Characteristics of Teams
Teams without Goals Teams with Goals
• Highly stressed - Competition is high. Individual achievement is all important.
• Error prone - Everyone tries harder and rushes faster, only to start again. Everyone is increasingly frustrated.
• NonCooperative - Helping someone else means they might get ahead. Everyone else is the enemy. Management likes the others better. It's only through shrewdness that anyone can beat the system and stay ahead. • Relaxed - No fear. Everyone knows what is going to happen.
• Right every time - Everyone knows what is expected and they become more proficient with increased satisfaction.
• Highly cooperative - Everyone is dependent upon the others in the team to get the job done right.
• Highly trusting - If everyone does his part, they will all be rewarded.
• High morale - Work is fun. Life is good. Everyone gets better all the time.
• Adjusted to the system - Everyone made the system work for them.
• Happy with management - Everyone likes management. Management treats them with respect and does not change the rules.
Goal selection the key to success - To learn more about this author, visit Devang Jhaveri's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
|||
Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
|||
Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Devang's articles
 | |
|
|  |
 | |
|
| |
 | |||||||
|
 | ||
 |
||
 |
||
 |
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 Workplace Culture Explode Expo Results Human Resources Checklist Campaigns to Customers Corporate Secrets |
|
 | ||
 |
Top 50 Marketing Blogs
Top Blogs To Watch In 2008 | |
 |
Top 50 Productivity Blogs
Top Blogs To Watch In 2009 | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
