Organizations get people caught in activity traps…unless managers periodically pull back and reassess in terms of goals. Managers lose sight of their employees’ goals.
Employees work hard, rather than productively. Mutually agreed-upon goals are vital.
Failure can stem from either non-achievement of goals or never knowing what they were. The tragedy is both economic and humanistic. Unclear objectives produce more failures than incompetence, bad work, bad luck or misdirected work.
When people know and have helped set their goals, their performance improves. The best motivator is knowing what is expected and analyzing one’s one performance relative to mutually agreed-upon criteria.
Goal attainment leads to ethical behavior. The more that an organization is worth, the more worthy it becomes. Most management subsystems succeed or fail according to the clarity of goals of the overall organization.
How to Find Goals:
Examine problems.
Study the organization’s core business.
Strengths, Weaknesses, Opportunities and Threats.
Portfolio analysis.
Cost containment.
Human resources development.
Motivation and commitment.
Make Goal Setting a Reality:
Start at the top.
Adopt a policy of strategic planning.
Strategic goals and objectives must filter downward throughout all the organization.
Training is vital.
Continual follow-up, refinement and new goal setting must ensue.
Programs must be competent, effective and benchmarked.
A corporate culture must foster all goal setting, policies, practices and procedures.
Priorities for Goals:
Focus on important goals.
Make goals realistic, simple and attainable.
Reward risk takers.
Recognize that trade-offs must be made.
Goals release energy.
Information leads to dissemination, leading to teaching-training, leading to insight, leading to understanding, leading to knowledge, leading to wisdom.
View goals as long-term, rather than short-term.
Ways in Which Goals Improve Effectiveness:
Defines effectiveness as the increase in value of people and their activities as resources.
Recognizes that humans are achievement and success creatures.
Goals infuse meaning into work and work into other aspects of life. Life is fully lived when it has meaning.
One cannot succeed without definitions of success. One must expect something to achieve success.
Failure is inevitable and is the best learning curve for success.
One’s goals start from within, not from work situations. The goal-oriented person adapts to the work environments.
Collaborations with other people create success. One cannot be successful alone or working in a vacuum.
One is always dependent upon other people, and other people are dependent upon you.
Commitments must be made to other people.
One must view the future and change as affirmative, in order to succeed.
Knowledge of results is a powerful force in growing and learning.
Without goals, one cannot operate under self-control.
Objectives under one’s own responsibility helps one to identify with the objectives of the larger organization of which he-she is a part. Sense of belonging is enhanced.
Achieving goals which one set and to which one commits enhances a person’s sense of adequacy.
People who set and are striving to achieve goals together have a sense of belonging, a major motivator for humanity.
Because standards are spelled out, one knows what is expected. The main reason why people do not perform is that they do not know what is expected of them.
Through goal setting and achievement, one becomes actualized.
Goal setting creates a power of one’s life…especially the part that relates to work.
With goals, one can be a winner. Without goals, one never really succeeds…he-she merely averts-survives the latest crisis.
7 Measurements of Successful Budgeting and Planning:
The business you’re in. You’re highly dedicated, talented, resourceful and give customers what they cannot really get elsewhere.
Running the business. Business is approached as both an art and a science. Operations continue to streamline and are professional and productive. Demonstrated integrity and dependability assure customers that the team will perform magnificently.
Financial. Keeping the cash register ringing is not the only reason for being in business. You always give customers their money’s worth. Your charges are fair and reasonable. Business is run economically and efficiently, with excellent accounting procedures, payables-receivables practices and cash management.
People. The company is people-friendly. Collaborations assure that top talent is assembled. The team is empowered, likeable, competent and demonstrate initiative and judgment.
Business Development. Customer service is always the focus…for and with clients. Communications are open, frequent, professional and with a deep sense of caring.
Body of Knowledge. There is a sound understanding of the relationship of each business function to the other. You provide leadership for progress, rather than following along. You develop-champion the tools to change.
The Big Picture. Approach business as a Body of Work…a lifetime track record of accomplishments. You have and regularly update-benchmark a strategy for the future, shared company Vision, ethics, Big Picture thinking and ‘walk the talk’.
About the Author
Hank Moore has advised 5,000+ client organizations worldwide (including 100 of the Fortune 500, public sector agencies, small businesses and non-profit organizations). He has advised two U.S. Presidents and spoke at five Economic Summits. He guides companies through growth strategies, visioning, strategic planning, executive leadership development, Futurism and Big Picture issues which profoundly affect the business climate. He conducts company evaluations, creates the big ideas and anchors the enterprise to its next tier. The Business Tree™ is his trademarked approach to growing, strengthening and evolving business, while mastering change. To read Hank’s complete biography, click here.
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StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.
The strength of our community grows with the additional insights brought by our expanding member base. Please consider rating us on iTunes by clicking here. Rating the StrategyDriven Podcast and providing your comments online improves our ranking and helps us attract new listeners which, in turn, helps us grow our community.
Thank you again for listening to the StrategyDriven Podcast!
About the Author
Jason Jennings, author of The Reinventors, is the bestselling author of It’s Not the Big That Eat the Small – It’s the Fast That Eat the Slow; Less Is More; Think Big, Act Small; and Hit the Ground Running. USA Today named Jason one of the three most in-demand business speakers in the world. To read Jason’s complete biography, click here.
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No organization can do it all. Resource limitations drive leaders to choose from those activities that will maximize the benefit derived from the assets the organization does possess. What is not commonly done, however, is the discontinuation of some ongoing activities not deliberately selected for funding. Consequently, these activities draw precious resources away from the more value-adding activities thereby diminishing the organization’s overall effectiveness.
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Why Some Firms Thrive While Others Fail by Thomas Stanton examines the fundamental shortcomings of both public and private financial sector companies as revealed during America’s ‘Great Recession.’ Thomas focuses on the areas of management, organization, and governance; contrasting the shortcomings of companies that failed with the sound practices of comparable organizations fairing well during the economic downturn.
Thomas concludes his book by relating the financial sector’s lessons learned to businesses within other industries that have faced similarly significant challenges. The result is the revelation of sound risk management practices that can help ensure companies in any industry are prepared to recognize and effectively deal with crisis situations.
Benefits of Using this Book
StrategyDriven Contributors like Why Some Firms Thrive While Others Fail for its insightful examination of why some companies respond well to crisis while others simply fail. Thomas provides insight not only to the direct management, organization, and governance issues hindering crisis recognition and response but the far more elusive combinations of attributes from these three areas that stymie if not paralyze an organization. By applying the best practices presented, organization leaders can better position their organization to recognize the onset of significant challenges – key to effectively dealing with any crisis – and react in a timely manner so to prevent a catastrophic outcome. We particularly appreciated Thomas’s extension of his book’s principles to other industries including:
Petroleum industry
Mining industry
Natural gas distribution industry
Hospital / Medical industry
Government
This extension makes the book relevant to leaders of any organizational type.
StrategyDriven Contributors have written extensively on the topic of crisis management. We found Thomas’s principles to be highly consistent with and expounding to the crisis management best practices we endorse; making Why Some Firms Thrive While Others Fail a StrategyDriven recommended read.
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StrategyDriven Professional Podcasts focus on the tools and techniques business professionals can use to accelerate their careers and personal goals achievement. These podcasts elaborate on the principle, best practice, and warning flag articles found on the StrategyDriven Professional website.
Wendy Powell is the author of Management Experience Acquired. With more than twenty-five years of human resource and management consulting experience, Wendy has spent most of her career at the University of Michigan. She is currently on the business faculty at both Palm Beach State College and the University of Phoenix. A member of the Society of Human Resource Management, she received a leadership award in 2002 from the Midwest College and University Professional Association for Human Resources. She is routinely featured on The Huffington Post and has appeared on Fox Business’s The Strategy Room. Wendy holds a Bachelor of Science degree in business management and a Master of Arts degree in organizational management.
Nathan Ives is a StrategyDriven Principal, and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.
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The Big Picture of Business: Goal Setting… An Important Part of Strategic Planning.
/in Strategic Planning/by Hank MooreHuman beings live to attract goals.
Organizations get people caught in activity traps…unless managers periodically pull back and reassess in terms of goals. Managers lose sight of their employees’ goals.
Employees work hard, rather than productively. Mutually agreed-upon goals are vital.
Failure can stem from either non-achievement of goals or never knowing what they were. The tragedy is both economic and humanistic. Unclear objectives produce more failures than incompetence, bad work, bad luck or misdirected work.
When people know and have helped set their goals, their performance improves. The best motivator is knowing what is expected and analyzing one’s one performance relative to mutually agreed-upon criteria.
Goal attainment leads to ethical behavior. The more that an organization is worth, the more worthy it becomes. Most management subsystems succeed or fail according to the clarity of goals of the overall organization.
How to Find Goals:
Make Goal Setting a Reality:
Priorities for Goals:
Ways in Which Goals Improve Effectiveness:
7 Measurements of Successful Budgeting and Planning:
About the Author
Hank Moore has advised 5,000+ client organizations worldwide (including 100 of the Fortune 500, public sector agencies, small businesses and non-profit organizations). He has advised two U.S. Presidents and spoke at five Economic Summits. He guides companies through growth strategies, visioning, strategic planning, executive leadership development, Futurism and Big Picture issues which profoundly affect the business climate. He conducts company evaluations, creates the big ideas and anchors the enterprise to its next tier. The Business Tree™ is his trademarked approach to growing, strengthening and evolving business, while mastering change. To read Hank’s complete biography, click here.
StrategyDriven Podcast Special Edition 64 – An Interview with Jason Jennings, author of The Reinventors
/in Change Management, StrategyDriven Podcast/by StrategyDrivenStrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.
Special Edition 64 – An Interview with Jason Jennings, author of The Reinventors explores how to effectively implementing radical continuous change in order to realize the ongoing business growth it provides. During our discussion, Jason Jennings, author of The Reinventors: How Extraordinary Companies Pursue Radical Continuous Change, shares with us his insights and experiences regarding the:
Additional Information
In addition to the outstanding insights Jason shares in The Reinventors and this special edition podcast are the resources accessible from his website, www.jason-jennings.com. Jason’s book, The Reinventors, can be purchased by clicking here.
Final Request…
The strength of our community grows with the additional insights brought by our expanding member base. Please consider rating us on iTunes by clicking here. Rating the StrategyDriven Podcast and providing your comments online improves our ranking and helps us attract new listeners which, in turn, helps us grow our community.
Thank you again for listening to the StrategyDriven Podcast!
About the Author
Jason Jennings, author of The Reinventors, is the bestselling author of It’s Not the Big That Eat the Small – It’s the Fast That Eat the Slow; Less Is More; Think Big, Act Small; and Hit the Ground Running. USA Today named Jason one of the three most in-demand business speakers in the world. To read Jason’s complete biography, click here.
Podcast: Play in new window | Download (Duration: 36:33 — 50.2MB)
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Alternative Selection Best Practice 6 – Select What Not To Do And Stick With It
/in Alternative Selection, Premium/by StrategyDrivenNo organization can do it all. Resource limitations drive leaders to choose from those activities that will maximize the benefit derived from the assets the organization does possess. What is not commonly done, however, is the discontinuation of some ongoing activities not deliberately selected for funding. Consequently, these activities draw precious resources away from the more value-adding activities thereby diminishing the organization’s overall effectiveness.
Hi there! Gain access to this article with a FREE StrategyDriven Insights Library – Sample Subscription. It’s FREE Forever with No Credit Card Required.
In addition to receiving access to Alternative Selection Best Practice 6 – Select What Not To Do And Stick With It, you’ll help advance your career and business programs through anytime, anywhere access to:
Best of all, it’s FREE Forever with No Credit Card Required.
Recommended Resource – Why Some Firms Thrive While Others Fail
/in Management & Leadership, Recommended Resources, Risk Management/by StrategyDrivenWhy Some Firms Thrive While Others Fail: Governance and Management Lessons from the Crisis
by Thomas Stanton
About the Book
Why Some Firms Thrive While Others Fail by Thomas Stanton examines the fundamental shortcomings of both public and private financial sector companies as revealed during America’s ‘Great Recession.’ Thomas focuses on the areas of management, organization, and governance; contrasting the shortcomings of companies that failed with the sound practices of comparable organizations fairing well during the economic downturn.
Thomas concludes his book by relating the financial sector’s lessons learned to businesses within other industries that have faced similarly significant challenges. The result is the revelation of sound risk management practices that can help ensure companies in any industry are prepared to recognize and effectively deal with crisis situations.
Benefits of Using this Book
StrategyDriven Contributors like Why Some Firms Thrive While Others Fail for its insightful examination of why some companies respond well to crisis while others simply fail. Thomas provides insight not only to the direct management, organization, and governance issues hindering crisis recognition and response but the far more elusive combinations of attributes from these three areas that stymie if not paralyze an organization. By applying the best practices presented, organization leaders can better position their organization to recognize the onset of significant challenges – key to effectively dealing with any crisis – and react in a timely manner so to prevent a catastrophic outcome. We particularly appreciated Thomas’s extension of his book’s principles to other industries including:
This extension makes the book relevant to leaders of any organizational type.
StrategyDriven Contributors have written extensively on the topic of crisis management. We found Thomas’s principles to be highly consistent with and expounding to the crisis management best practices we endorse; making Why Some Firms Thrive While Others Fail a StrategyDriven recommended read.
StrategyDriven Professional Podcast Episode 1 – Standing Out Among Professional Peers, part 1 of 3
/in Practices for Professionals, Professional Development, StrategyDriven Professional Podcast/by StrategyDrivenStrategyDriven Professional Podcasts focus on the tools and techniques business professionals can use to accelerate their careers and personal goals achievement. These podcasts elaborate on the principle, best practice, and warning flag articles found on the StrategyDriven Professional website.
Episode 1 – Standing Out Among Professional Peers, part 1 of 3 focuses on the need to stand out among professional peers and challengers both within your organization and when applying for external positions. During our discussion, Wendy Powell, author of Management Experience Acquired: Necessary Skills for Successfully Managing Any Employee, shares with us her insights and illustrative examples regarding:
Additional Information
In addition to the incredible insights Wendy shares in Management Experience Acquired and this podcast are the resources accessible from her website, www.ManagementExperienceAcquired.com. Wendy’s book, Management Experience Acquired, can be purchased by clicking here.
About the Author
Wendy Powell is the author of Management Experience Acquired. With more than twenty-five years of human resource and management consulting experience, Wendy has spent most of her career at the University of Michigan. She is currently on the business faculty at both Palm Beach State College and the University of Phoenix. A member of the Society of Human Resource Management, she received a leadership award in 2002 from the Midwest College and University Professional Association for Human Resources. She is routinely featured on The Huffington Post and has appeared on Fox Business’s The Strategy Room. Wendy holds a Bachelor of Science degree in business management and a Master of Arts degree in organizational management.
Nathan Ives is a StrategyDriven Principal, and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.
Podcast: Play in new window | Download (Duration: 19:13 — 26.5MB)
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