Goal setting

Goal Setting -Praveen Kavilikatta (89) -Joslin Fernandes(79)-Aditya Shetty(114)-Dishant Nambi(104)

What is the Goal Setting theory ?• Goal Setting involves establishing specific,measureable, achievable,realistic and time targeted goals.• Theory of goal-setting is an effective tool for making

progress because participants in a group/organisation with a common goal are clearly aware of what is expected from them.

• Goal setting features as a major component of personal development literature.

Who’s behind this theory ?• This Theory was established by Edwin A.Locke.• Edwin A. Locke  began to examine goal setting in the

mid-1960s ,Locke derived the idea for goal-setting from Aristotle’s form of final causality.

• Aristotle speculated that purpose can cause action; thus, Locke began researching the impact goals have on individual activity of its time performance.

His inspiration

Edward A. Locke Aristotle

What does it do ?Setting goals affects outcomes in four ways:-• Choice: goals narrow attention and direct efforts to goal-

relevant activities.• Effort: goals can lead to more effort.• Persistence: someone becomes more prone to work

through setbacks if pursuing a goal.• Cognition: goals can lead individuals to develop and

change their behavior.

Goal setting in business

• In business, goal setting encourages participants to put in substantial effort.

• Goal setting is an important tool for managers, because goals have the ability to function as a self-regulatory mechanism that helps employees prioritize tasks.

Seven Golden steps for Goal Setting in Business

IdentifyGoals

Set Objectives

List Obstacles

Identify people

List skillsDevelop a Plan

List Benefits

How can goal setting affect individual performances?

The four mechanisms through which goal setting can affect individual performance are:1. Goals focus attention toward goal-relevant activities and

away from goal-irrelevant activities.2. Goals serve as an energizer: Higher goals induce greater

effort, while low goals induce lesser effort.3. Goals affect persistence; constraints with regard to

resources affect work pace.4. Goals activate cognitive knowledge and strategies that

help employees cope with the situation at hand.

Real examples of goal setting from the Corporate World

• Carlos Ghosn , the C.E.O of Nissan , set the very ambitious goal of selling 3.6 million cars in 2005. This verifiable goal was widely publicized.

• Employees were identified with this clear goal and were motivated to its achievement. Indeed, the goal was achieved, partly by introducing new models, the Murano and Fuga in the market.

• Because of this leadership at Nissan, Ghosn has been considered heading an alliance between Japanese Nissan, French Renault, and American General Motors.

Effective steps to F.R.A.M.E you’re goals

Fantasy Reality

Aim Method

Evaluate

Turn your fantasies into goals.

Work effectively to turn fantasies into goals

set realistic goals by balancing fantasy and reality.

Decide the ways you want to accomplish you’re goals.

Review your progress towards achieving you’re goals.

Guidelines for setting goalseffectively

• Set Priorities: Prioritize your goals if you’ve got too many of them to achieve.

• Set realistic goals: Set the goals that you can achieve• Be Precise: Set precise goals ,i.e., by deciding date, time and amount in order to measure achievement of that goal.

The goal Setting Model (S.M.A.R.T.)

SMART

Specific

Measureable

Attainable

Relevant

Time bound

Limitations to Goal Setting theory• Due to non alignment of goals between the employees

and the organization, the performance of employees gets affected.

• Goal setting can foster unethical behavior when people do not achieve specified goals.

• Goal setting may encourage simple focus on an outcome without openness to exploration, understanding, or growth