Achieving Successful Business Goals Competition for business is intensifying. Advances in new technology, ease of communication and rising customer expectations have made the market more competitive than ever. In this world, it is essential for small and medium-sized businesses. companies to actively shape their future. Without proactivity, things seem to “happens” out of your control.
A goal-oriented management system is a tool that the company can use to shape its future. This is a system for deciding what you will do each day based on the goals you are working towards. It sounds pretty easy. However, research clearly shows that most companies do not set any goals at all. The goal setting process can seem daunting when you’re new to it or have so many things on your mind that you don’t know where to start. The process will help you sort through your
key issues and build forward momentum by setting goals that innovate, solve problems, and improve outcomes.
A goal-oriented management system consists of 3 elements: the goal you want to achieve, the activities required to achieve the goals, and the review or evaluation process. These are the 5 steps necessary to implement your goal management system.
Identify Your GoalsFirst, ask yourself these three questions.When you have employees, they often have a different perspective on business issues.Involving them in this process can be very valuable.What are the three things that irritate me the most? about my business right now?
What have I moved that I know will have a positive impact on my business? What works quite well but could be improved? It can be helpful to think in terms of some general categories such as: Employees – skill level, the right people in the right jobs Managers – leadership style, experience
Customers: Strength of customer base, number, loyalty, etc. Financial: Cash flow, equity, low debt, profit margins, etc. Reputation: Well-known, respected brand Products/Services: Innovative, short time to market, non-competitive, price Environment: Flexible working practices, physical work environment, location
Technology: automated, streamlined, productive Production: capacity, range of products Distribution: cost effective, efficient Sales/Marketing: promotional strategy, marketing materials, etc. For each objective identified, write down what you want to achieve
With your answers to the questions, write down what each thing would look like if it were more successful. Goals should be written down in a measurable form and have a specific time frame. For example, if you chose technology, your goal could be: “By April 30, implement an integrated and automated contact management system that does most of the manual work for me. Break down the goals into measurable steps. Break each goal I’ve formulated down into the steps you need to follow.
You should provide deadlines for each step. In our example, the steps could look like this: