3.05 Days 4 & 5 Understand concepts, tools, and strategies used to explore, obtain, and develop in a business career

Functions of Organizational Goals Set a standard of performance Act as a basis for planning Influence organizational structure Develop employee commitment to the organization

Types of Organizational Goals Official/strategic goals Tactical/operative goals Operational goals Economic goals Cultural goals Product goals Consumer goals Secondary goals Order goals http://www.introduction-to-management.24xls.com/en104

Business Mission is a brief description of a company's fundamental purpose. Answers the question, "Why do we exist?“ articulates the company's purpose both for those in the organization and for the public

Organizational Goals desired states of affairs or preferred results that organizations attempt to realize and achieve

Objectives Business objectives are the stated, measurable targets of how to achieve business goals The most effective business objectives meet the following criteria: S – Specific – objectives are aimed at what the business does, e.g. a hotel might have an objective of filling 60% of its beds a night during October, an objective specific to that business. M - Measurable – the business can put a value to the objective, e.g. €10,000 in sales in the next half year of trading. A - Agreed by all those concerned in trying to achieve the objective. R - Realistic – the objective should be challenging, but it should also be able to be achieved by the resources available. T- Time specific – they have a time limit of when the objective should be achieved, e.g. by the end of the year. http://tutor2u.net/business/gcse/organisation_aims_objectives.htm

Student Activity(11.1.11) Create 3 personal SMART goals. Explain the relationship between business mission, organization goals, and objectives. (3-5 sentences) Explain the importance of reviewing and revising organizational goals on a regular basis (3-5 sentences)

Student Activity (11.2.2011) Using the 3.05 Articles, complete the Reading Guide. Complete a Vocabulary Sheet 3.0 Quiz Tomorrow