• support@bizmanualz.com
  • Home
  • Contact Us
  • About Us
  • Help
  • My Account
Policies and Procedures Manual Template WordPolicies and Procedures Manual Template WordPolicies and Procedures Manual Template WordPolicies and Procedures Manual Template Word
  • Policy
    Procedure
    Manuals
    • CEO 9-Manual Set-45% Off
    • CFO 5-Manual Set-34% Off
    • Policy Procedure Software
    • Accounting Manual
    • Finance Manual
    • IT Policy Manual
    • HR Policy Manual
    • Sales Marketing Manual
    • ISO 9001 Quality Procedures Manual
    • AS9100 D Quality Procedures Manual
    • ISO 22000 Food Safety HACCP Manual
    • Production Operations
    • Medical Office Procedures
    • Nonprofit Procedures
    • Construction Procedures
  • Document
    Management
    Software
    • Product & Benefits
    • OnPolicy Software Overview
    • On-Policy – 30-Day Free Trial
    • Testimonials
    • Resources
    • Subscribe to OnPolicy
    • Software, Procedure Manual Bundle
    • OnPolicy Help Introduction
  • Free
    Procedure
    Samples
    • Free Sample Policies and Procedures Template
  • How To
    Business
    Articles
    • Save Time Writing Procedures
    • Write Better Policies
    • Writing Procedure Manuals
    • Write Better Procedures
    • Strengthen Your Financials
      • Set Better Objectives
      • Tighten Accounting Controls
      • Improve Company Governance
      • Simplify Compliance
    • Improve Quality
      • Make a Process Map
      • Implement ISO Quality
      • Improve Quality
      • Improve Management Systems
      • Increase Customer Satisfaction
      • Make Your Business Lean
      • Making Change Easier
    • Solve Business Problems
      • Organize Your Business
      • Improve Business Communication
      • Be a Better Boss
      • Empower Employees
      • Grow Your Business
      • Find Business Improvements
      • Improve Business Processes
      • Increase Innovation
      • Better Sales and Marketing
      • Better Project Management
      • Better Disaster Security Planning
      • Improve Employee Health and Safety
    • Leverage Technology
      • Automate Policy Management
      • Improve Your Social Media
      • Increase Productivity
      • Analyzing Business Data
  • Lean ISO
    Consulting
    Training
    • Improve Your Training
    • Customer Testimonials
    • ISO 9001:2015 Classes | Internal Auditor Training | Virtual
    • ISO 9001:2015 Classes | Lead Auditor Training St Louis MO
    • ISO 9000 Help | Lean Consulting Training St Louis MO
    • ISO Writer | Writing Policies and Procedures Training Class
    • Lean Training Class St Louis MO
    • FREE Quality
      Audit* Offer
0

Setting Goals and Objectives Important?

Categories
  • Set Better Objectives
Tags
  • goals
  • metrics
  • objectives
  • setting goals
  • smart
Setting Goals Objectives

Now is the time for reviewing your vision and mission statements, and as well as reviewing and setting goals and objectives. A clear statement of vision guides members of the organization. This over-arching statement of principle adds clarity and meaning to your goals, objectives, and regular activities. 

If developed now, the new goals and objectives will be in place and communicated throughout the organization faster. Excellent customer service may be the most fundamental aspect of your business, so it is appropriate to state it in your vision. Obviously, though, you have to pay attention to more than just customer service as you flesh out your strategic management plan for business growth.

Setting Goals and Objectives

The goals and objectives process is fairly straightforward, but it is generally accepted to be key to effective strategic management in any business or organization.

goals and objectivesGoals Help Set Priorities

Set goals for your business or department that are important for success. In our earlier example, the vision statement focuses on customer service, but it could be that another key to success is introducing new products. One goal should simply express that, i.e. “Introduce new products every year.” Note that the goal is not really specific and fairly open-ended (When have you reached that goal? Every year is a new year and new products have to be introduced. So this fits perfectly with our definition of goals).

Goals are to be set throughout the business with high level goals set by top management, and then subordinate goals are cascaded down within each department or segment: design, sales, customer service, production, shipping, and so on. Theses goals should align directly with, and lead to fulfilling, the high level goals of the organization. Then goals can be set for groups or individuals within the department that align with and fulfill department goals.

Departments and groups can develop additional goals outside of those that connect directly to higher level goals, but it is important to focus on what is important; you don’t want to overwhelm your team. The key, however, is to set goals that ultimately fulfill organizational goals. This is an important element in having different parts of an organization pulling together toward common purposes.

Objectives Put Substance into Goals

After setting a general goal, specific objectives are then established that guide activities and provide performance metrics to guide everyone and provide feedback as to whether or not you are reaching your goal. So if the goal is to introduce new products, objectives state more specifically what you are going to do. Objectives must be set considering the needs of the organization, its capabilities, etc; You may be familiar with the acronym SMART in terms of objectives, but let’s review what it means:

  • S – Specific: Very unambiguous, explicit targets
  • M -Measurable: Performance can be measured to compare with targets
  • A – Attainable: The capability is there to reach the targets
  • R – Relevant: Relates specifically to stated goal
  • T – Time based: Expressed or measured during a specific time period

(Note: Some refer to the R in SMART as standing for Realistic, but to me that seems redundant with Attainable, so I prefer to use Relevant, meaning that the objective should align directly with a stated goal.)

So, if the goal is to introduce new products, the SMART objective might be to introduce two new products in the coming year. It is specific and we can measure how well we perform. This specific number should be set given the organization’s needs and capabilities, so it is reachable. It also relates directly to the new product goal, and it is over one year’s time. So this objective meets the SMART criteria.

This process not only focuses the attention of the organization on high priority activities, but it also creates business metrics that can be measured and monitored in order to see how well the organization is performing. It assists in creating “dashboard” systems that displays performance, and allows managers to recognize when things get off-track in time to make appropriate corrections. For example, if half the year is gone and the design department has not made one new prototype, then the goal of two new products each year is in danger if corrective action is not taken.

Below is a goals and objectives worksheet used as an example in our Finance Policies and Procedures Manual. You might consider employing such a device to ensure your objectives align with important goals and they meet the SMART criteria.

FS100001: Financial Objectives

Objectives for Year:______________________ Objectives for Period:_________ to__________

 Goal  Objective MeasurementSteps to Attain RelevantTime Frame Notes
Maximize Return on Bank AccountsIncrease Average APY for Accounts from 4.0% to 4.5%Cumulative APY from Account StatementsShift 25% from Short to Long Term Accounts. Move $10K from Cash on Hand to Investment Account to Improve APYRealizes “Maximize Return on Bank Accounts” Financial Department Controls Interest AccountsFor FY 2015

 

Are Your Expectations the Same as Your Objectives?

To some, there’s an enormous difference between expectations and objectives. Our expectations are based on such factors as “the social contract”, our knowledge, and our personal experience. Objectives are specific, rational, exhibiting little, if any, measurable bias, and are clearly communicated.

Our expectations reflect our personal biases. Expectations are often unstated — they are somehow expected to be understood. For example, we expect that adult pedestrians will not haphazardly dart in and out of vehicular traffic. That seems like a reasonable expectation, doesn’t it? We don’t often hear or read of pedestrians being killed as they burst or wander into traffic. The car is bigger, heavier, and faster — why would anyone risk serious injury or death?

Expectations being what they are, many are not met. They are often burdened by others’ expectations. For example, you expect the businessperson on the street corner, on their cellphone while dragging a wheeled suitcase along, is going to look before crossing the street in front of your car. They, on the other hand, expect every vehicle operator to see and yield to them. Someone’s expectations will be dashed, probably both.

One thing expectations rarely are, and that is “based on empirical evidence or sound policy“. Suspicions and hunches aren’t evidence. Too often, a manager comes up with “that’s the way it’s always been done”, or “that’s the way I’ve always done it and it’s always worked.” (Always? Really? Show me the numbers that bear that out.)

Another thing expectations never are, and that’s “communicating well with others”. The essence of a well-run company is establishing SMART objectives (listed above) that everyone in the organization understands and agrees with.

If you want your expectations met, you have to state them as clearly and precisely as you can to everyone responsible for meeting them. You have to get feedback from those people so you know everyone’s on your wavelength.

Do this and your expectations are no longer mere expectations — they are the company’s business objectives. Unstated expectations will always be unmet expectations.

More Articles from Bizmanualz...

  • What Are 10 Leading Indicators for Measuring Organizational Success?What Are 10 Leading Indicators for Measuring Organizational Success?
  • How to Develop Financial Performance ObjectivesHow to Develop Financial Performance Objectives
  • How Do You Achieve Strategic Alignment?How Do You Achieve Strategic Alignment?
  • How Do You Write Good Content Marketing?How Do You Write Good Content Marketing?
  • 5 Tried Tested Ways to Improve Client Reporting Process5 Tried Tested Ways to Improve Client Reporting Process
  • How Data Science Can Help Retain or Onboard Your ClientsHow Data Science Can Help Retain or Onboard Your Clients
  • How Do You Run a Meeting Smoothly?How Do You Run a Meeting Smoothly?
  • What is the Duration of Continuous Improvement?What is the Duration of Continuous Improvement?
  • How Do You Build an Inclusive Workplace?How Do You Build an Inclusive Workplace?
  • How to Make Your Mornings More Productive?How to Make Your Mornings More Productive?
Share

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Products

  • AS9100 D Quality Procedures Manual AS9100 Quality Procedures Manual Rev D | ABR217M Aerospace Quality Procedures Manual $ 395.00 $ 297.00
  • Accounting Policy Procedure Manual MS-Word Template Accounting Policies and Procedures Manual
    Rated 4.60 out of 5
    $ 495.00 $ 397.00
  • it standard operating procedures IT Policies and Procedures Manual
    Rated 4.40 out of 5
    $ 495.00 $ 397.00
  • Human Resources HR Policy Procedure Manual HR Policies and Procedures Template | ABR41M
    Rated 3.89 out of 5
    $ 495.00 $ 347.00
  • Sales Marketing Policy Procedure Manual Sales Marketing Policies and Procedures Manual | ABR44M
    Rated 3.67 out of 5
    $ 495.00 $ 347.00
  • Finance Policy Procedure Manual Finance Policies Procedures Manual | ABR42M
    Rated 4.75 out of 5
    $ 495.00 $ 347.00
  • Security Policy Procedure Manual Security Policies and Procedures Manual $ 395.00 $ 297.00
  • Disaster Recovery Policy Procedure Manual Disaster Recovery Planning Manual
    Rated 4.00 out of 5
    $ 395.00 $ 297.00
  • ISO 9001 Procedures ISO 9001 2015 Procedures | ABR211M
    Rated 4.60 out of 5
    $ 495.00 $ 347.00
  • ISO 22000 Food Safety Procedures Manual ISO 22000 Food Safety Procedures Manual | ABR213M
    Rated 3.83 out of 5
    $ 395.00 $ 197.00
 Free Sample Policies Procedures

Get to Know Us

About Bizmanualz

Our Customers

Our Contributors

Featured Products

Free Policies and Procedures

Privacy Policy

FAQs

Risk Free Guarantee

Process Improvement

Contact Us

Recent Posts

  • How Do You Effectively Solve Business Problems?
  • How Data Science Can Help Retain or Onboard Your Clients
  • How Can Marketing Help Your Business Grow?
  • Find Bizmanualz on Social Media!
  • How Do You Create Well-Defined Processes?
  • What are Examples of Company Policies and Procedures?
  • How Do You Handle Distractions in the Workplace?
  • How Do You Run a Meeting Smoothly?

Business Procedures

Accounting Manuals Template

Finance Procedures

HR Procedures

IT Policies and Procedures Templates

Sales Marketing Procedures

Quality Assurance Policy Statement and Procedures

Medical Office Procedures

Employee Handbook Manual

Aerospace Procedures

Food Safety Procedures

Security & Disaster Plans

Production Procedures

Procedure Writing Guide

Featured Manuals

  • Alt Text CEO Bundle and Document Management Software Package $ 2,495.00 $ 1,857.21 one time, and
    $ 990.00 / year
  • St. Louis ISO auditor training class ISO 9001:2015 Classes | Lead Auditor Training St Louis MO $ 2,395.00 – $ 3,270.00
  • 9-Manual CEO Company Policies and Procedures Bundle | Save 45%
    Rated 4.50 out of 5
    $ 2,495.00 $ 1,997.00
  • CFO Responsibilities Financial Accounting Procedures 5-Manual CFO Internal Control Procedures Bundle| Save 34%
    Rated 4.64 out of 5
    $ 1,695.00 $ 1,497.00
  • AS9100 D Quality Procedures Manual AS9100 Quality Procedures Manual | ABR217M Aerospace Quality Procedures Manual $ 595.00 $ 499.00
Copyright ©1999-2021 Bizmanualz, Inc. All Rights Reserved | Sitemap | Privacy Policy
0
  • Home
  • Contact Us
  • About Us
  • Help
  • My Account
Go to mobile version