For an organization to be successful and survive in the long run, it needs to set goals and then manage the resources accordingly to achieve those goals. Moreover, besides the setting of goals, the organization needs to monitor the progress towards the goals as well so that it does not go astray and stays on course to the success.
the manager of an organization needs to be very careful in strategizing goals, moreover, no matter how well the goals are set, if the monitoring metrics are not selected right, the organization may not ever know about its success or failure in terms of achievement of goals. The lines below explain how to set goals and monitor them in an organization.
As far as the setting of goals is concerned, the goals need to be SMART. An elaboration is given below:
Specific- The goals need to be specific to the organization. You cannot set goals that are no way near the niche of the business. Like if you are a manufacturing business, you cannot have the goals and objectives of a service oriented business. Therefore, whenever setting goals, try to make them as much specific to business’s niche as possible.
Measurable- A manager should set goals that are not vague or abstract; rather they must be easily measurable. Like setting a goal of becoming the best in industry is abstract compared to setting the goal of achieving 80% share in the market. Therefore, the manager must try to set goals and objectives that are measurable.
Achievable- A small business needs to set goals that it can achieve within its resources. Therefore, a manager needs to analyze the resources available and then set the goals that could be achieved within those resources. In setting goals a business needs not to copy the competitors, as they may have different resources which increase their strength to achieve goals, hence the goals should be such that are achievable within specified resources.
Realistic- For a business it is imperative that the goals set by it are realistic and not something imaginary. A business that operates in the local marketshould set goals pertaining to the local market or to the regional level to the maximum. However, if such a business sets goals for international market then such goals would be considered unrealistic, thus non-achievable.
Time bound- The goals and objectives need to have a specific time frame in which the business must achieve it. It’s the achievement of goals within time that helps an organization measure its performance and see whether the goals have been successfully achieved or not. Therefore, a manager must set goals that must be achieved within given period.
Pertaining to the monitoring of the goals a manager needs to consider the following measures:
- First of all the manager needs to set the proper metrics against which the performance in achievement of goals could be measured and monitored. For instance, for a call center team the metric could be the sales made.
- Secondly, the manager needs to appoint reliable people among employees who could effectively report to the manager about the progress in achievement of goals.
- Thirdly, the manager needs to be observant of the situation himself, keep an eye on the happenings and continuously compare and contrast the goals with the consumption of resources and time consumed.
In short, the monitoring of goals in an organization is as important as is the setting of goals. Therefore, a good manager in order to strive a business to success needs to set SMART goals and then the according monitoring metrics to measure the performance of the organization.