"If you don't know where you are going, any road will get you

there.“

- Alice in Wonderland

Stiffer competition

????

New technologies

COMPLEX REGULATION

SIncreasing global opportunities

Often arise out of the missionstatement.

A short-term target with measurable

results

Desired result of

an activity

Gives direction

and purpose

KINDS OF OBJECTIVES

Organizational

Managerial

Individual

ORGANIZATIONAL

Broad statements of where the organization wants to be in the future.

MANAGERIAL

Identifies the goals of different

departments

INDIVIDUAL

Personalized objectives that

individuals should accomplish

Organizational

Managerial

Individual

If everybody in the firm is aware of the goals, there is a big chance that everybody will contribute his share in the realization of such goals……

CHARACTERISTICS OF

EFFECTIVE OBJECTIVES

Specific

Measurable

Attainable

• precise• Well-defined

• quantifiable

• Challenging • Practical and

realistic

Result-oriente

d

Time Bound

• Must reflect an action to accomplish a desired result

• Specify the target date or deadline date

SETTING OBJECTIVES

• Objective / Goal setting is one of the most prominent and basic tools used by both Individuals and organizations to assist in setting their direction and in accomplishing it.

FOUR GENERAL CATEGORIES

•PROFITABILITY – expressed in terms of profits, return on investments or earnings per share

•CUSTOMER SERVICE – expressed in very explicit terms

•EMPLOYEE-MANAGEMENT

NEEDS AND WELL-BEING – Expressed in terms of number of grievances, training.

• SOCIAL RESPONSIBILITY – Expressed in types of activities, number of days of service or financial contribution