Self Management Project MGT 494 Lecture-12 1

Recap Goal Setting (Step 5) People talk about developing action plans, they refer mainly to one of two activities: (1)writing a list of goals, or (2)writing a list of things to do. However, an action plan consists of goals, objectives, and activities all expressed as statements (goal statements, objective statements, activity statements). A complete plan also identifies the resources needed for executing the plan and the barriers that can be foreseen that could prevent a person from achieving his or her goals. The existence of a plan doesn't ensure success, but it does help. 2

Goal A goal is an end point, what you want to accomplish. A goal statement describes the end point, when you hope to accomplish it, and, in general, how you want to get there. When you get there, activity toward the goal comes to an end. You move on to achieving a new or different goal. To simplify the language, use the words goal and goal statements interchangeably. 3

Criteria of Well-Formulated Goal Statements The values that constitute each dimension of your life are just words until you do something to fulfill them, that is, use them to direct the goals you want to achieve. You begin by asking yourself how you might fulfill an important value; For example, ''How can I fulfill the value of having managerial authority?" One answer might be, "Earn a promotion to management" This answer is the first step in writing a well-formulated goal statement A well-formulated goal statement is specific, measurable, observable, realistic, and time bound (though inelegant, the acronym is SMORT). 4

Three Elements of Well-Formulated Goal Statements When writing a well-formulated goal statement, you need three elements: (1)a target, (2)a time frame in which the target is to be reached, and (3)Means and conditions that will help you reach the target. Let's examine the goal statement: "Earn a promotion to management in three years by succeeding as the team leader, attending management classes, receiving high ratings on my performance reviews." 5

Today’s Lecture Examples of Goal Statement Prioritize Goals and Performance Ranges (Step 6) 6

Sample Goal Statements With Targets Example 1 "Earn a salary of $50,000." Earn a salary = the what $50,000 = the how much Example 2 "Increase productivity by 12 percent.“ Increase productivity = the what 12% = the how much 7

Sample Goal Statements With Means and Conditions Target Time Frame Means and Conditions Earn a promotion to management In three years 1. By succeeding as the team leader 2. Attending management classes 3. Receiving high ratings on my performance reviews 8

Prioritize Goals and Performance Ranges (Step 6) Most people aren't very patient. They want everything, and they want it now. So, goal conflicts happen because they don't prioritize their goals and pursue those of relative immediacy or importance. The result is frustration, which sometimes leads to feelings of despair resulting from failure. 9

Prioritizing Goals Setting goals is the first and most important step in designing an action plan for developing satisfactory dimensions in your life and work. On the other hand, not every goal is equally as important or as immediate as every other goal. Timing and circumstances often dictate what you want or should achieve at any given time. And, sometimes you can't achieve one goal unless you achieve others first. When prioritizing, consider three key points. What is important to you, what is immediate or urgent, and what depends on other things to happen 10

Importance A goal is important to you when you think it's a good thing to achieve, that it's desirable, that its outcome is "good." A goal that says "Stay debt-free by paying all bills," for example, becomes important only if you think it's good to do so. Goals important to someone else, say your boss, become important to you only if you think it's desirable or good that you want them too. "Good" and "desirable" (value words) signal emotional aspects of decisions you make, even if they are defined in measurable or observable terms. Numerical outcomes are "good" only if you say they are. 11

Immediacy A goal gains immediacy when it becomes urgent to achieve it. In the example, if in order to remain debt-free it is urgent that you earn a specific level of income, then that income goal becomes immediate as well as important. Goals important to your boss may never become important to you, but they can achieve a high level of immediacy if failing to achieve your boss's goals will interfere with you achieving yours. 12

Dependency A goal becomes a high priority when another high- priority goal depends on you achieving the first one, even if you don't consider it all that important or immediate to you. The boss's goals may not seem important or immediate to you, but building a career is one of your high-priority items. Since your boss is partially responsible for determining how your career progresses, you may want to take on his or her goals, help him or her achieve them, in order to serve the greater purpose you have set for yourself. 13

Decision Criteria To decide if a goal is important, immediate, or essential for something else to happen, you need to answer three sets of questions. Important "Just how badly do I want this?“ – If I or others around me don't accomplish this goal What would happen? Who would be affected and how? – What consequences of in action positive or negative could affect my other goals or those of other people or the organizations to which I belong or in which I work? If achieving this goal produces desirable results, why not put everything necessary into doing it and doing it right? 14

Decision Criteria Immediacy New goals present themselves with changing circumstances, and when they do, you need to examine them for how urgent they really are. If I or others around me don't accomplish this goal now, – What would happen? – Who would be affected and how? – What consequences of in action positive or negative could affect my other goals or those of other people or the organizations to which I belong or in which I work? If I or others around me don't accomplish this goal now, and if nothing bad or of consequence would happen, why work for it? If achieving this goal now produces desirable results, why not put everything necessary into doing it and doing it right? 15

Decision Criteria Dependency When you set a goal that doesn't seem important or immediate at the moment, you need to determine if other goals depend on it for their fulfillment. Ask: – What other goals depend on the achievement of this goal? – Which goals have to be reached first before this goal can be achieved? – What is the price of inaction? 16

Assigning Priorities to Goals A goal that is important and urgent to you or to someone else with whom you are closely related (e.g., your boss), or on which other goals depend, is an A goal. It should get your greatest amount of immediate attention. A goal that is important but not urgent is a B goal. A goal that is urgent but not important is also a B goal. A goal that is neither important nor urgent, and on which nothing else depends, is a C goal. A C goal could be struck from the list and no one would miss it unless it has significance as a long-term goal, one you plan to achieve someday. 17

Summary Examples of Goal Statement Prioritize Goals and Performance Ranges (Step 6) 18

Next Lecture Vision and Performance Ranges Write an Action Plan (Step 7) 19