6: Goals and Objectives
- Page ID
- 24373
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\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)- 6.1: Goals and Objectives
- This page discusses the importance of goals and objectives in management, particularly within the P-O-L-C framework. It covers the evolution of these components, traits of effective goals, and their role in employee performance evaluations. Furthermore, the chapter provides guidance on setting and managing personal goals to align with organizational strategies, supporting both personal and professional growth.
- 6.2: Case in Point: Nucor Aligns Company Goals With Employee Goals
- Nucor Corporation excels in the steel industry through profitability and strong shareholder returns, driven by a decentralized structure that empowers employees and a performance-based reward system. This strategy fosters high salaries, employee commitment, low turnover, and minimizes unionization, aligning individual goals with company objectives and contributing to operational success.
- 6.3: The Nature of Goals and Objectives
- This page outlines the distinction between goals and objectives, emphasizing that goals are broad organizational aims and objectives are specific, measurable actions that support these goals. It highlights the role of goals in providing direction for managers, while objectives must be clear and result-oriented. Both are crucial to the P-O-L-C framework for performance measurement and accountability.
- 6.4: From Management by Objectives to the Balanced Scorecard
- This page discusses the evolution of performance measurement systems, particularly Management by Objectives (MBO) and the Balanced Scorecard. MBO, created by Peter Drucker, emphasizes aligned goal-setting but has faced criticism, leading to the Balanced Scorecard's development, which measures performance across four areas: customer satisfaction, learning and growth, internal processes, and financial performance. It links goals to strategy and improves communication.
- 6.5: Characteristics of Effective Goals and Objectives
- This page discusses the importance of setting and evaluating specific, fact-based organizational goals and objectives, emphasizing effective goal characteristics like simplicity and alignment with strategy. It highlights the need for goals to adapt to changing circumstances and to consider stakeholder needs.
- 6.6: Using Goals and Objectives in Employee Performance Evaluation
- This page highlights the significance of incorporating goals and objectives into employee performance evaluations to bolster both individual and organizational performance. It advocates for regular, constructive feedback aligned with organizational needs while recognizing potential appraisal errors. Best practices for effective performance management, including leadership involvement and adaptability to changing goals, are discussed.
- 6.7: Integrating Goals and Objectives with Corporate Social Responsibility
- This page discusses the integration of corporate social responsibility (CSR) into organizational strategies, emphasizing alignment with a company's vision to boost effectiveness. It notes the rise in CSR reporting driven by ethical and sustainability concerns, supported by frameworks like the Balanced Scorecard. The LOHAS marketplace underscores consumer demand for transparency in ethical purchasing.
- 6.8: Your Personal Balanced Scorecard
- This page explores the Balanced Scorecard concept for personal and professional goal-setting, highlighting methods to align personal objectives with SMART criteria. It introduces the PDAD cycle for ongoing personal improvement and stresses the importance of forming a support network for motivation and accountability. The text encourages starting fresh when goals aren't met and emphasizes ethical behavior alongside ambition.