1. Chapter 6: Goals and Objectives Learning Objectives
Understand the nature of goals and objectives and why they are important
See how our thinking about goals and objectives has evolved
Know what characterizes good goals and objectives
Understand the roles of goals and objectives in employee performance reviews
Map out relationships among economic, social, and environmental goals and objectives
Set and manage your own goals and objectives

2. GOALS AND OBJECTIVES IN P-O-L-C

3. WHAT ARE GOALS AND OBJECTIVES?
Objectives are very precise, time-based, and measureable actions that support the completion of a goal
WalMart * Open twenty new stores by year end
Goals are outcome statements that define what an organization is trying to accomplish
WalMart * Increase revenue by 20% annually

4. Objectives Related directly to the goal Clear and concise
Stated in terms of results
Begins with an action verb
Specified date and/or deadline
Measurable

5. Measurement of Objectives is Critical
Provide insight into intended future direction
Describe current status
Reveal where the organization has been
Measuring Objectives

6. Goals and Objectives in Planning

7. Management by Objectives (MBO)
Management by Objectives Peter Drucker
Principles behind MBO;
What the organization is trying to achieve.
The role of employees in accomplishing those objectives.
Management by Objectives (MBO)
A process in which a manager and an employee agree upon a set of specific performance goals, or objectives, and jointly develop a plan for reaching them

8. Seeking A Balance
The Move Away From MBO

9. THE BALANCED SCORECARD

10. Advantages of Balanced Scorecard
More clearly will tie goals and objectives to the organizations’ vision, mission and strategy
Moves beyond the financial measurement of just goals and objectives

11. Using the Balanced Scorecard to Translate Goals into Activities

12. The Balanced Scorecard in Practice
Translating the vision
Communicating and linking
Business planning
Feedback and learning

13. Tie measures to drivers of success Customer Satisfaction
Past Performance
Customer Satisfaction
Stakeholders

14. Using Goals and Objectives in Employee Performance Evaluation
Performance evaluation based on clear goals and objectives leave little doubt about the desired outcome

15. Integrating Goals and Objectives with Performance Evaluation
A performance evaluation is a constructive process to acknowledge the performance of an employee
Builds trust
Maintains credibility
Motivates
Clarifies expectations
Identifies strengths and weaknesses

16. Individual Performance Review
Preparation
Document achievements
Organize as evidence of results gained
What if the result is unfavorable?
Was it truly unjustified?
Are you just sensitive to criticism?
If justified, schedule a follow-up appointment
What have you learned?
Did you have clear goals and objectives such that your performance was easy to document?
Can you take away valuable information?

17. Integrating Goals and Objectives with Corporate Social Responsibility
GE combines environmental responsibility with the business strategy of providing the best wind energy devices.

18. Goals and Objectives should…
reinforce the organization’s strategy…
which ultimately achieves the vision and mission of the organization.

19. Dow Jones Sustainability Index defines Corporate Social Responsibility
A business approach that creates long-term shareholder value by embracing opportunities and managing risks deriving from economic, environmental and social developments

20. Five areas of competence Dow Jones Sustainability Index
Strategy incorporates triple bottom line
Solid financial planning
Customer loyalty & product innovation
Governance & stakeholder engagement
HRM, benefits options, & overall job satisfaction

21. Top Ten motivators driving corporations to engage in CSR
Economic considerations
Ethical considerations
Innovation and learning
Employee motivation
Risk management or risk reduction
Access to capital or increased shareholder value
Reputation or brand
Market position or share
Strengthened supplier relationships
Cost savings

22. Measuring Personal Objectives and Performance SMART Criteria
Specific - Answer the six "W" questions
Measurable - How much or how many?
Attainable - Growth places you closer to the goal
Realistic - Are you willing and able to apply yourself?
Timely – Identify the time frame