Goal setting is a process of creating an action plan to motivate individuals or groups towards achieving specific objectives, enhancing focus, measuring progress, staying motivated, and combating procrastination. The document discusses the importance of goal setting, the principles involved, the role of the balanced scorecard in strategic planning, and the relationship between goals, objectives, targets, and mission in organizational contexts. It concludes by outlining the steps in management by objectives, emphasizing the collaborative nature of goal setting within organizations.

1. GOAL SETTING

2. GOAL SETTING
 Goal setting involves the development of an action plan designed in order to motivate and guide a
person or group toward a goal. Goals are more deliberate than desires and momentary intentions.
Therefore, setting goals means that a person has committed thought, emotion, and behavior towards
attaining the goal

3. IMPORTANCE OF GOAL SETTING
 1. Goals Give You Focus
 Without a goal, your efforts can become disjointed and often confusing.
 For example, a goal takes the flight of a hummingbird, which is chaotic and erratic and focuses it much
like a hawk swooping down for its prey.
 It allows you to zero in on each day’s tasks with laser precision, weeding out wasted effort and idle
movement.

4.  2. Goals Help You Measure Progress
 Being able to keep track of your progress toward achieving a goal is only possible if you set one in the first
place.
 Being able to measure progress is extremely rewarding and will help you maintain focus, keep your head held
high and your energy up. It will also keep you from getting down.
 Sometimes, when working towards success, it’s easy to become discouraged because you don’t feel you have
“arrived” yet.
 However, when you measure progress while working towards a specific goal, you will be able to see that
though you might not be where you are wanting to get, you have made movements in the right direction and
are a lot better off than where you started.

5.  3. Goals Help You Stay Motivated
 It’s easy to put off work until tomorrow when there is no goal on the line.
 For example, let’s consider the life of an athlete. If they have to get in shape for say an NFL combine, you
better believe they are going to be working out each and every day, whether they feel good or not,
whether they are sore or not, whether they are tired or not, whether they want to or not, because they have
a goal.
 They have a destination.
 Their desire to achieve their goal keeps them in the gym when they would much rather skip.
 In much the same way, having a goal will keep you motivated!

6.  4. They Help You Beat Procrastination
 Procrastination is something we all battle from time-to-time, myself included. However, when you set goals in
life, specific goals for what you want to achieve, it helps you understand that procrastination is dangerous.
 It is wasted time. It is another day you aren’t moving closer to that goal.
 Consider this inspirational quote from Pablo Picasso next time you are thinking of putting off that next step
towards your goal and rethink your stance: “Only put off until tomorrow what you are willing to die having
left undone.

7.  5. You Achieve Even More
 When you set a goal and reach it, it gives you the taste of victory. You will want to taste that again.
 What does that mean? You push yourself towards the next rung of the ladder, challenge yourself to
move past another ceiling, you achieve even more.
 Working towards meeting and surprising goals help you achieve way more than you ever thought
possible.

8.  6. Goals Help You Determine What You Want In Life
 The act of setting goals forces you to contemplate what you truly want out of life.
 What is the level of success you want to achieve? What is the income level you want to have? What does your
life of ease look like? What about your dream home? What do you need income-wise to achieve your
dreams?
 Once you set this end goal, you then break your desires down into attainable, measurable goals.
 These goals keep you motivated, helping you avoid procrastination and keeping you laser-focused on
achieving your dreams. It is, therefore, the act of setting, achieving and surpassing goals that make living your
your best life possible.

9.  7 Goals Help You Avoid ‘Shiny Object Syndrome
 Basically, shiny object syndrome is always being in pursuit of the next big thing, constantly switching
your goals based on what you feel is the most fun and interesting at the given moment, but never
actually giving yourself time to accomplish any of those goals.
 You don’t get anywhere because you continually change the direction you are heading in. This is one
of the consequences that may result if you decide to live a life without goals.

10. FIVE PRINCIPLES OF GOAL SETTING/LIFE
CYCLE OF GOAL
1. Clarity
2. A Sense of Challenge
3. Commitment
4. Getting Feedback
5. Managing Complexity

11.  1. Clarity
 Your goal should be clear and well-defined. This is where the theory of SMART goals can come in handy.
Which of these do you think is the clearer, more effective goal?
 Goal 1: Reduce time taken to process invoices.
 Goal 2: Research available software that could reduce the time taken to process invoices on a weekly basis
from 3 to 2 hours.
 Goal 2 provides a clear measure of success (the exact time taken to process invoices) and a clear starting
point (researching new software).
 How would you know when you’ve achieved Goal 1? You could reduce the time taken to process invoices by
5 minutes, which would meet its requirements, but is that really what you were aiming for?

12.  2. A Sense of Challenge
 Your goal should be achievable but it should also stretch you.
 When a goal is realistic but challenging, it tends to be more motivating and the feeling of achievement
when you’ve reached it is more significant. By stepping out of your comfort zone, you may also end up
learning or discovering new skills and strengths, which is rewarding in itself.
 When something is too easy it feels less important and you’re more likely to lose focus and motivation.

13.  3. Commitment
 It seems obvious, but to successfully achieve your goals you need to be fully committed to them. It is this
commitment that will keep you going when you encounter obstacles along the way.
 A good way to refocus your commitment, particularly if things get tough, is through the use of a common Positive
Psychology technique called Visualization; creating a mental image of what you and your life will be like when you’ve
achieved your goal.
 Think about how you feel in this imagined future. What has changed for you? What do you notice about yourself?
 Visualizing the outcome of your hard work and effort is an effective way to strengthen your commitment to your goal.

14.  4. Getting Feedback
 Regular reflection of your progress will help you stay on track, stay motivated and ensure that your goals
are still relevant.
 A good place to start a review is with any changes you’ve noticed. This could be changes in your own
habits or behaviour, your thought patterns or skill set. It could also be changes in your relationships, the
way you communicate or how people respond to you. What do these changes tell you about your
progress towards your goal?
 If it feels strange scheduling a review with yourself, why not ask a colleague, friend or mentor to sit down
with you and talk through your achievements so far, any challenges, how you worked through them, and
what your next steps are.
 A good tip is to build milestones into your action plan. Whenever you reach one of these milestones,
pause and review.

15.  5. Managing Complexity
 Whilst a challenging task can be motivating and help you focus, it’s important to give yourself the time and
space you need to work through complex tasks.
 You don’t need to do everything all at once. For example, you might have allocated yourself just one day to
complete a task. But if you feel low in energy that day, you might end up abandoning it. Instead, try tackling
just one element at a time, perhaps devoting just 1 hour every day. This enables you to maximise your
energy and maintain your focus when dealing with complex or overwhelming tasks.
 Again, using milestones can help with this. For example, if you need to learn a new technique, skill, or piece
of software, make that your first goal, before jumping straight into using it.
 It’s also helpful to check in regularly with how you’re feeling. If you’re feeling stressed or anxious, do you
need to adjust your target or your timescales? Could you break the task down into smaller sub-tasks that
are easier to manage?
 Paying attention to these 5 elements will help you set and achieve effective goals.

16. BALANCED SCORECARD(BSC)
A balanced scorecard is a strategy performance management tool – a well
structured report, that can be used by managers to keep track of the execution of
activities by the staff within their control and to monitor the consequences
arising from these actions.
The balanced scorecard (BSC) is a strategic planning and
management system. Organizations use BSCs to:
•Communicate what they are trying to accomplish
•Align the day-to-day work that everyone is doing with strategy
•Prioritize projects, products, and services
•Measure and monitor progress towards strategic targets

17. FOUR PERSPECTIVES OF THE BALANCED
SCORECARD
1. Financial perspective
Under the financial perspective, the goal of a company is to ensure that it earns a return on
the investments made and manages key risks involved in running the business. The goals can
be achieved by satisfying the needs of all players involved with the business, such as
the shareholders, customers, and suppliers.
The shareholders are an integral part of the business since they are the providers of capital;
they should be happy when the company achieves financial success. They want to be sure
that the company is continually generating revenues and that the organization meets goals
such as improving profitability and developing new revenue sources. Steps taken to achieve
such goals may include introducing new products and services, improving the
company’s value proposition, and cutting down on the costs of doing business.

18.  2. Customer perspective
 The customer perspective monitors how the entity is providing value to its customers and determines the level of
customer satisfaction with the company’s products or services. Customer satisfaction is an indicator of the
company’s success. How well a company treats its customers can obviously affect its profitability.
 The balanced scorecard considers the company’s reputation versus its competitors. How do customers see your
company vis-à-vis your competitors? It enables the organization to step out of its comfort zone to view itself
from the customer’s point of view rather than just from an internal perspective.
 Some of the strategies that a company can focus on to improve its reputation among customers include
improving product quality, enhancing the customer shopping experience, and adjusting the prices of its main
products and services.

19.  3. Internal business processes perspective
 A business’ internal processes determine how well the entity runs. A balanced scorecard puts into
perspective the measures and objectives that can help the business run more effectively. Also, the
scorecard helps evaluate the company’s products or services and determine whether they conform to the
standards that customers desire. A key part of this perspective is aiming to answer the question, “What are
we good at?”
 The answer to that question can help the company formulate marketing strategies and pursue innovations
that lead to the creation of new and improved ways of meeting the needs of customers.

20.  4. Organizational capacity perspective
 Organizational capacity is important in optimizing goals and objectives with favorable results. The personnel
personnel in the organization’s departments are required to demonstrate high performance in terms of
leadership, the entity’s culture, application of knowledge, and skill sets.
 Proper infrastructure is required for the organization to deliver according to the expectations of
management. For example, the organization should use the latest technology to automate activities and
ensure a smooth flow of activities.

22. 7 Benefits of a Balanced Scorecard
 1. Better Strategic Planning
 The Balanced Scorecard provides a powerful framework for building and communicating strategy. The
business model is visualised in a Strategy Map which helps managers to think about cause-and-effect
relationships between the different strategic objectives. The process of creating a Strategy Map ensures that
consensus is reached over a set of interrelated strategic objectives. It means that performance outcomes as
well as key enablers or drivers of future performance are identified to create a complete picture of the
strategy.
 2. Improved Strategy Communication & Execution
 Having a one-page picture of the strategy allows companies to easily communicate strategy internally and
externally. We have known for a long time that a picture is worth a thousand words. This ‘plan on a page’
facilitates the understanding of the strategy and helps to engage staff and external stakeholders in the
delivery and review of the strategy. The thing to remember is that it is difficult for people to help execute a
strategy which they don’t fully understand

23.  3. Better Alignment of Projects and Initiatives
 The Balanced Scorecard help organisations map their projects and initiatives to the different strategic
objectives, which in turn ensures that the projects and initiatives are tightly focused on delivering the
most strategic objectives.
 4. Better Management Information
 The Balanced Scorecard approach helps organisations design key performance indicators for their
various strategic objectives. This ensures that companies are measuring what actually matters. Research
shows that companies with a BSC approach tend to report higher quality management information and
better decision-making.

24.  5. Improved Performance Reporting
 The Balanced Scorecard can be used to guide the design of performance reports and dashboards. This ensures
that the management reporting focuses on the most important strategic issues and helps companies monitor
the execution of their plan.
 6. Better Organisational Alignment
 The Balanced Scorecard enables companies to better align their organisational structure with the strategic
objectives. In order to execute a plan well, organisations need to ensure that all business units and support
functions are working towards the same goals. Cascading the Balanced Scorecard into those units will help to
achieve that and link strategy to operations.

25.  7. Better Process Alignment
 Well implemented Balanced Scorecards also help to align organisational processes such as budgeting,
risk management and analytics with the strategic priorities. This will help to create a truly strategy focused
organisation
 https://www.spiderstrategies.com/balanced-scorecard/

26. TARGET, GOAL, AND OBJECTIVES

27.  Mission – the purpose
Primary Objective – what you hope to achieve to support your mission
Secondary Objective – objectives established to support the Primary Objective
Target – an indicator established to determine how successfully you are achieving an objective. It’s a
goal that is measurable when its achieved.
Goal – an indicator established to determine whether you have achieved your objective

28.  Remember:
Goals tend to be two-state only – achieved or not achieved – a near miss in soccer is still a miss.
 Targets are more measurement based. When you hit a target in archery you achieve different scores
depending on how close you are to the centre.
 The below shows the hierarchy of mission, objectives, targets and goals

29.  Example of Objectives, Targets and Goals
 To simplify let’s look at a silly example.
• Mission
To be happy
• Primary Objective
To get married, have children, and settle down (to support the mission)
• Secondary Objective:
To impress a damsel with your archery skills (one way you can achieve your Primary Objective)
• Target:
To hit the centre of an apple on the head of a knave (a measure of the degree of success)
• Goal:
To get your arrow in the apple without injuring the knave (a logical indicator of success)

30. Example of Objectives, Targets and
Goals
To simplify let’s look at a silly example.
Mission
• Primary Objective
To get married, have children, and settle down (to support the mission)
• Secondary Objective:
To impress a damsel with your archery skills (one way you can achieve your Primary Objective)
• Target:
To hit the centre of an apple on the head of a knave (a measure of the degree of success)
• Goal:
To get your arrow in the apple without injuring the knave (a logical indicator of success)

31. Workplace Objectives, Targets and
Goals
 Mission: Providing high-quality widgets to the beer industry
Primary Objective: To keep the company profitable and healthy
Secondary Objectives (supporting the primary objective) :
1. To improve the company’s financial position.
2. To achieve quality management system certification so that we are able to tender on large contracts.
 Target (for secondary objective 1.): 8% increase in profits year on year
Goal (for secondary objective 2.): ISO 9001 System Certification achieved before year-end (read our easy ISO 9001
Certification in 25 steps article if this is you).
 Secondary Objectives, Targets and Goals should all contribute to achieving the primary objective. You can be close
to your target, but close to a goal has the same effect as being a mile away.

32. Business Organization Hospital State Transport Organization
GOAL Be a leader in the household consumer goods industry,
with modern amenities
Be a hospital providing total service to the patients. Connect all villages of population 5000 and above by S T
service
OBJECTIVES Provide complete product range in the area of cleaning,
preserving and entertainment.
Establish 300 bed hospital in three years. Management state transport at the rate of $ 5 per mile
traveled.
TARGETS 20 per cent growth per annum in turnover. Achieve $ 800 bed per day earnings. Achieve 90 percent average seat occupancy everyday.

33. MBO
 Management by Objectives, otherwise known as MBO, is a management concept framework
popularized by management consultants based on a need to manage business based on its needs
and goals.
 It is a process where the goals of the organization are defined and conveyed by the management to
the members of the organization with the intention to achieve each objective

34. Steps in Management by Objectives
Process
1. Define organization goals
Setting objectives is not only critical to the success of any company, but it also serves a variety of purposes. It
needs to include several different types of managers in setting goals. The objectives set by the supervisors are
provisional, based on an interpretation and evaluation of what the company can and should achieve within a
specified time.
2. Define employee objectives
Once the employees are briefed about the general objectives, plan, and the strategies to follow, the managers can
start working with their subordinates on establishing their personal objectives. This will be a one-on-one
discussion where the subordinates will let the managers know about their targets and which goals they can
accomplish within a specific time and with what resources. They can then share some tentative thoughts about
which goals the organization or department can find feasible.

35.  3. Continuous monitoring performance and progress
 Though the management by objectives approach is necessary for increasing the effectiveness of
managers, it is equally essential for monitoring the performance and progress of each employee in
the organization.
 4. Performance evaluation
 Within the MBO framework, the performance review is achieved by the participation of the
managers concerned.

36.  5. Providing feedback
 In the management by objectives approach, the most essential step is the continuous feedback on the results
and objectives, as it enables the employees to track and make corrections to their actions. The ongoing
feedback is complemented by frequent formal evaluation meetings in which superiors and subordinates may
discuss progress towards objectives, leading to more feedback.
 6. Performance appraisal
 Performance reviews are a routine review of the success of employees within MBO organizations.

38. BENEFITS OF MANAGEMENT BY OBJECTIVES
• Management by objectives helps employees appreciate their on-the-job roles and responsibilities.
• The Key Result Areas (KRAs) planned are specific to each employee, depending on their interest, educational
qualification, and specialization.
• The MBO approach usually results in better teamwork and communication.
• It provides the employees with a clear understanding of what is expected of them. The supervisors set goals for
every member of the team, and every employee is provided with a list of unique tasks.
• Every employee is assigned unique goals. Hence, each employee feels indispensable to the organization and
eventually develops a sense of loyalty to the organization.
• Managers help ensure that subordinates’ goals are related to the objectives of the organization.

39. Limitations of Management by Objectives
• Management by objectives often ignores the organization’s existing ethos and working conditions.
• More emphasis is given on goals and targets. The managers put constant pressure on the employees to
accomplish their goals and forget about the use of MBO for involvement, willingness to contribute, and growth
of management.
• The managers sometimes over-emphasize the target setting, as compared to operational issues, as a generator
of success.
• The MBO approach does not emphasize the significance of the context wherein the goals are set. The context
encompasses everything from resource availability and efficiency to relative buy-in from the leadership
and stakeholders.
• Finally, there is a tendency for many managers to see management by objectives as a total system that can
handle all management issues once installed. The overdependence may impose problems on the MBO system
that it is not prepared to tackle, and that frustrates any potentially positive effects on the issues it is supposed to
deal with.

40. SELF CONTROL
Self-control, an aspect of inhibitory control, is the ability to
regulate one's emotions, thoughts, and behavior in the face of
temptations and impulses. As an executive function, it is a
cognitive process that is necessary for regulating one's
behavior in order to achieve specific goals

41. TYPES OF SELF CONTROL
 Impulse control
 Impulse control is being able to stop and think before acting. Impulse control lets kids think through
consequences before they push to the front of the line or run into the street without looking. A child with
self-control can pause, imagine what might happen — I could get in trouble or I could get hurt — and make
a different choice
 Emotional control
 Emotional control is the ability to manage feelings. As kids get older, most can cope with a minor
disappointment or criticism and move on. They don’t get distracted or overwhelmed by their feelings.

42.  Movement control
Movement control is the ability to manage how our body moves and when. This type of self-control
helps kids sit still when they need to. It helps them stay out of other people’s personal space. Having
movement control makes it much easier to do what is asked of them, like sitting through a meal or
waiting in line.

43. Easy Ways To Increase Your Self-Control
 1. Find more motivation.
 Motivation is important in honing self-control skills. Figuring out what motivates you the most is key to accomplishing your
goals. Otherwise, what is all this work for? When you look at the bigger picture instead of every detail needed to cross the finish
line, you'll find yourself more motivated to get things done.
 For example, when working on a long-term project, it's easy to get frustrated by the many small steps, meetings, and approvals
required to finish it. Instead, periodically reminding yourself and others on the team of the end goal can help promote
motivation.
 2. Get a good night's sleep.
 According to an article by Medical News Today, sleep deprivation impacts our brain function, specifically the prefrontal cortex,
which handles reasoning, and the amygdala, which regulates emotions.
 Executives and managers should keep this in mind: the more you push employees to work extra hours and answer messages
and calls all the time, the more likely employees will be stressed and unhappy. As a result, they may end up cutting corners and
engaging in unethical behavior.
 Do you encourage your team to prioritize sleep? Do you set a good example? Tired workers are not good for business. Take
note of when employees are overworked, and encourage them to openly communicate about it so you can support them
accordingly.

44.  3. Self-regulate to improve self-control.
 Popular views of self-control are that we should try to control impulses, fight temptations, and actively exercise
willpower. But how do you do it?
 Self-regulation is a great way to increase self-control because it helps you take control of your feelings and
actions. Someone who lacks self-regulation can have difficulty dealing with stress, anger, or anxiety.
 According to a Very well Mind article, self-regulation helps you better connect to your values and
communicate what you need. This can help you feel more at ease

45.  4. Exercise to increase self-control.
 Do you find yourself with no time to exercise? There's good news for you.
 Short bouts of moderately intense exercise can help boost your self-control. No matter how busy you are, plan
to include a short burst of exercise in your daily routine. Take note of how you feel after exercise, and you may
find you have more energy throughout the day.
 5. Get digital self-control support.
 Accountability is key. There are many ways to outsource self-control support, including apps that you can
download to your phone. They can be helpful when meeting a work deadline, ensuring that you never miss a
workout, and keeping track of your meals and spending.

46.  6. Understand your emotional intelligence.
 Emotional self-control, or impulse control, starts with understanding emotional intelligence. Knowing
yourself can help you manage your emotions and impulses.
 For example, do you react impulsively to issues? Do you pause to listen to others' feedback? Are you able
to stay composed and positive in stressful circumstances? Can you exercise patience in annoying
situations? The ability to keep disruptive emotions and impulses in check is the mark of a seasoned
leader.
 Here are two emotional intelligence assessments to help you increase your awareness: the Emotional
Quotient Inventory and the Emotional Competence Inventory.

47.  7. Avoid decision fatigue.
 Self-control has important implications for good decision-making. Decision fatigue harms these abilities.
 For example, some people prefer not to make a decision at all, while others may make impulsive or irrational
decisions. If possible, avoid making important decisions at the end of the day when your brain is exhausted.
"Sleeping on it" can be very helpful.
 Additionally, automation is your friend. Put at least some aspects of life on default so you have less decisions
to worry about. That can mean using apps or simple decisions you make for yourself in advance. Steve Jobs,
for example, always dressed in jeans and black turtlenecks. See how you can simplify decision-making with
some simple hacks.

48.  8. Set SMART goals.
 You can find yourself losing self-control if the task at hand seems unbearable. Setting actionable SMART goals can help
you avoid being overwhelmed. "SMART" goals are Specific, Measurable, Attainable, Realistic, and Time-Bound.
 Setting achievable and realistic goals can help you build discipline to complete everyday tasks in both your personal
and professional life. Accomplishing your dreams, no matter the size, will result in higher motivation and increased self-
control moving forward.
 The takeaway: Self-control can be improved. Figure out what motivates you the most, keep an eye on the big picture,
and establish SMART goals to reach key milestones. Maintain a healthy lifestyle with good sleep and some exercise.
When you learn how to have self-control, you'll find it much easier to go about your day-to-day life both personally and
professionally.