Corporation goal setting

According to Hill, Gareth, & Melissa, companies that prioritize the development of realistic and attainable objectives are more likely to succeed in managing their results, improve the skills and trust of their staff, and flourish in their overall operations (16). Apparently, companies are unable to succeed and thrive in the present global environment for a long time without the clear objectives outlined, as they set the target and path to go forward for the fiscal year as a whole. However, the target setting is a procedure, with different stages, as described in this article. The initial step is the identification of the goal through brainstorming. According to Cummings & Christopher, the organization has to involve all the stakeholders, that is the employees and the leaders to brainstorm on the required organizational goals (439). Studies affirm that people support what they create; hence, they accept the responsibility more easily if they get involved in making the significant firm's decision. The second step is choosing on the necessary goals that a company needs to focus on. The stakeholders of the business conduct substantial analysis and evaluation to identify the most substantial targets that need to be adopted. The assessment is based on listing the benefits and obstacles of each.

Determining the plans and objectives of actions for each goal is the next step. The objectives are the practical steps that are required to achieve the goals; therefore, they should be specific and include deadlines. The fourth level is on creating a plan of action. At this phase, the firm requires to set the time frame for each goal and break each stage into specific tasks. Then the full participation of every member is significant to achieve the set goals. The fifth phase is to evaluate and assess the progress continuously. The firm management requires to monitor and track the progress of every task now and then to get the implications of the actions (Cummings & Christopher 440). Finally, celebrate the successful outcomes of the goals, and on the failed goals, the corporation with the help of the members need to revisit them to find the area that needs some improvements.

There are many benefits associated with setting goals in an organization such as providing focus. Apparently, when a firm set the goals for its workers, it shows them the organization’s priorities, and what needs to be done at which time. Another advantage is that they increase motivation. The company’s goals give the employees a reason to strive in their daily tasks as they want to achieve something (Oracle 4). Improving the group cohesion is also a benefit associated with goal setting. Finally, goal setting offers measurability. According to Oracle, the set goals enable the members to gauge their progress and reflect on how their efforts have impacted the general performance of the firm (5).

Consequently, corporations must set SMART goals. That is, their goals should be specific, where they define the outcomes to be achieved if particular actions are taken. Then, they should be measurable, meaning, the achievement of the goals can be assessed based on the predetermined goals (Oracle 10). Achievable/attainable goals are also significant for the firm as it must ensure that it has all the resources required to accomplish the set goals. The enterprise should also set realistic and relevant goals, which does not exploit the factors of productions, more so the employees. Finally, the set goals must be timely, clearly showing the delivery or the attainment date (Oracle 10). However, the organization is not supposed to set unspecific, unmeasurable, unachievable, unrealistic and timeless goals because it will only be misusing its resources and time, as it cannot accomplish them.

People or organizations often use the term objectives and goals interchangeably when discussing on corporate strategy, but the two concepts are different from each other. Apparently, a goal is a broad, long-term aim that an organization or individual want to accomplish (Hill, Gareth, & Melissa 17). For instance, the Google technology company may have a goal of growing their sales revenue. On the other hand, an objective is a specific or concrete attainment that can be achieved by following various steps (Hill, Gareth, & Melissa 18). An example of an objective is where the Google corporation may decide to expand their distribution networks by reaching more users to accomplish their goal of increasing their company revenue. A goal is something that an organization measures according to the invisible, and no criteria to measure the progress, whereas an objective comes with a distinct set of performance measurement to determine whether the target has been attained. Finally, goals are long-term, while objectives are mid to short-term.

Works Cited

Cummings, Thomas G., and Christopher G. Worley. Organization development and change. Cengage learning, 2014.

Hill, Charles WL, Gareth R. Jones, and Melissa A. Schilling. Strategic management: theory: an integrated approach. Cengage Learning, 2014.

Oracle. Goal Setting: A Fresh Perspective. Taleo Cloud Service. USA. June 2012.