A company’s success is planned longed before it occurred. Managers have to accomplish a great amount of tasks during their work day and one of those tasks is to set objectives. Goals have to be established and it has to be decided what has to be done to achieve them. But how does a company set goals? Are goals really necessary? In the course of this blog post a short explanation about the importance of setting goals is presented.
In business, planning is a crucial management function. Planning includes setting goals and ways to achieve them. A company without goals is like a marathon runner without a finish line in mind: the runner will eventually veer off the street and the company will go bankrupt. The second management function is organizing. Once the goals and ways are known the responsibilities have to be set. Then, that is the third function, one has to influence and motivate employees to realize the goals. The last function is to monitor the activities and correct them if necessary. Incorporating these four business function successfully will almost guarantee success and one could argue that goals are crucially important in making the success tangible.
Setting SMARTER goals
Because goals are necessary to achieve success one has to know how to set them. Many business book mention that goals have to be SMART (Daft, Kendrick, & Vershinina, 2010). Furthermore, instead of just having SMART goals some management literate suggest to have SMARTER goals. Goals have to be specific, measurable, achievable, relevant and time-oriented and should be evaluated and then re-evaluated again.
But goals can also cause trouble. Having too many goals can cause a period of high stress or stressful changes that can eventually lead to the onset of panic attacks. Panic attacks might occur due to psychological stress and can last from minutes to hours. Many who experience panic attacks fear that they are having a heart attack or a nervous breakdown. While having panic attacks one should know that there is nothing to be afraid of, that deep breaths are useful and that fear will eventually cease. However, to avoid panic attacks one should balance its life. According to generally accepted teachings, the human being is divided into three parts: the body, soul and mind. To live in balance one should exercise the body, create something from within the soul and meditate to calm the mind. This is not a premise for avoiding panic attacks. One should strive for a balanced life.
Planning for unpredictable situations
Another problem is that life is unpredictable. For example, it can be possible that key employees leave from one moment to the other, that the government issues new restrictions, that other companies refuse collaboration, which can all prevent executing a plan. Most of the preceding problems can be avoided by having a backup plan but if under any circumstance there is none, problems are on its way. One is then obliged to the only option left and that is to adjust goals. However, that can have dramatic consequences when having a contract with other companies, so one should have as many backup plans as possible.
To conclude, forming goals is a management function and one has to make goals SMARTER. On the other side, too many goals might cause stress and since life is unpredictable, sometimes one has to adjust or even reduce goals.
Daft, R. L., Kendrick, M., and Vershinina, N. (2010). Management. South-Western Cengage Learning