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Subject: Principles of Management Presented to: Mr. Tasman Pasha Presented by: Hassan Tahir Sial Roll no: 109-11003 BBA (Hons) nd Semester 2
Organizational Goals
Goals are critical to organizational effectiveness, and they serve a number of purposes.
Purposes of Goals
st 1
Purpose
They provide guidance and a unified direction for people in the organization. Goals can help everyone understand where the organization is going and why getting there is important.
st 1
Purpose Example
Several years ago, top managers at General Electric set a goal that every business owned by firm would be either number one or number two in its industry. This goal still helps set the tone for decisions made by GE managers as it compare with other firms like Whirlpool and Electrolux.
nd 2
Purpose
Goal setting practices strongly affect other aspects of planning. Effective goal setting promotes good planning, and good planning facilitates future goal setting.
nd 2
Purpose Example
The ambitious revenue goal set for P&G (Procter & Gamble Co) demonstrates how setting goals and developing plans to reach them should be seen as complementary activities. The strong growth goal should encourage managers to plan for expansion.
rd 3
Purpose
Goals can serve as a source of motivation for employees of the organization. Goals that are specific and moderately difficult can motivate people to work harder, especially if attaining the goal is likely to result in rewards.
rd 3
Purpose Example
The Italian furniture manufacturer Industrie Natuzzi SpA uses goals to motivate its workers. If a worker get his job done faster than their goal, a bonus is automatically added to their paycheck.
th 4
Purpose
Goals provide an effective mechanism for evaluation and control. This means that performance can be assessed in the future in the terms of how successfully todays goal are accomplished.
th 4
Purpose Example
Suppose that officials of United Way of America set a goal of collecting 250,000$ from particular small community. If they collect 50,000$ in the midway they have to change their efforts and plans. If they collect 200,000 in the midway they change their efforts and collect more for their good performance.
Kinds of Goals
There are four kinds of goals 1. Mission 2. Strategic Goals 3. Tactical Goals 4. Operational Goals
Mission
Strategic Goals
Tactical Goals
Operational Goals
Goals Settings
Goals also set by Level Area Time Frame
Optimizing
Balancing and reconciling possible conflicts among goals.
Example of Optimizing
Few years ago Nike was making high Quality shoes but not stylish. As a result the company lost market share. On the other hand Reebok International started making both High Quality and Fashionable shoes.
Organizational Planning
Process of identifying an organization s immediate and long term objectives and formulating and monitoring specific strategies to achieve them.
Strategic Plans
A general plan outlining decisions of resource allocation, priorities, and action steps necessary to reach strategic goals.
Tactical Plans
A plan aimed at achieving tactical goals and developed to implement parts of a strategic plan.
Operational Plans
Focuses on carrying out tactical plans to achieve operational goals.
LongLong-Range Plans
A plan that covers many years, perhaps even decades; common longlong-range plans are for five years or more.
Intermediate Plans
Short-Range Plans
A plan that generally covers a span of one year or less.
There are two basic kinds of Short-Range plans 1.Action Plan 2.Reaction Plan
Crisis Management
Crisis management is the process by which an organization deals with a major event that threatens to harm the organization, its stakeholders, or the general public.
Contingency Planning
A contingency plan is a plan devised for a specific situation when things could go wrong. Contingency plans are often devised by governments or businesses who want to be prepared for anything that could happen.
Action Plan 2
Implement plan and formally identify contingency events
Action Plan 3
Specify indicators for the contingency event and develop contingency plans for each possible event
Action Plan 4
Successfully complete plan or contingency plan
SingleSingle-Use Plan
SingleSingle-use plans are created to address shortshort-term challenges or provide guidance for short-term initiatives. Single-use plans shortSinglecan be created in teams or by individual managers. The scope of these plans is generally smaller than the scope of standing plans.
Types of Single-Use Plan SingleProgram:Program:A single-use plan for a large set singleof activities.
Standing Plan
Standing plans are used over a long period of time, sometimes indefinitely, and can be altered to adapt to changing circumstances. A standing plan is often created with input from a wide range of individuals over a longer period of time than single-use plans. single-
outlines a series of related actions that must be taken to accomplish a particular task. Rules and Regulations:-Describe exactly Regulations:how specific activities are to be carried out.
Formal goal setting is an effective technique for integrating goal setting and planning.
Communicating organizational goals and plans Meeting Verifiable goals and plans Counseling Resources
Periodic Review
Evaluatio n
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