Goal Setting & Company Performance

A company's performance can be directly related to individual and organizational goals. The successful achievement of various goals can help increase the performance of an organization. All goals have to be attainable, measurable, specific and have deadlines attached.

Considerations

Managers and supervisors should make sure employees have their own individual goals. They should have measurements in place to see if goals are being met.

Effects

When there is a variance it's the job of management to step in and determine why a difference exists. Sometimes a manager will implement corrective actions, if there is a shortage, designed to help employees meet their goals and objectives.

Projections

Organizations make projections at the beginning of the year. In some cases they base their projections on the goals and objectives that have been set by each department and department manager. The managers must report how they are doing in relation to their projected goals.

Features

One of the main driving forces within an organization is the sales department. The sales manager has to meet with the sales force to get sales projections. Each individual sales person is responsible for hitting stated goals.

Significance

An organization as a whole should have goals in place that motivate employees to be more productive through training and development, having new ideas, saving time, cutting expenses and having an entrepreneurial spirit.

References

• mystrategicplan: Goal Setting
• Setting Goals 101: Business Goal Setting Is the FIRST STEP to Designing Your Action Plan for Success