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Strategic Management : Strategy Formulation Goals

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strategy formulation goals | strategic management

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Strategy Formulation Goals PowerPoint Presentation

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Description : Strategic Management : Strategy Formulation Goals Read More

Tags : strategy formulation goals | strategic management

Published on : Mar 19, 2016
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Strategy Formulation Goals
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Slide 1 - Goals Strategic Management
Slide 2 - 2.Goals « Goals are the end-result that an organization wishes to achieve by giving reason to its activities and indicating the purpose the system performs for society »
Slide 3 - 2.Goals They describe the nature of organization’s operations They cover multiple evaluation periods
Slide 4 - The benefits of goal setting
Slide 5 - The drawbacks of goal setting
Slide 6 - Goals formulation Goals make explicit the organization’s relationship to its internal and external environments Goals state what an organization hopes to become and give it direction, cohesiveness and personnality
Slide 7 - External influences on goal formulation The goal-formulation process is essentially determining the relationship of the organization to the larger society Therefore, it must take into consideration the claims of the various group
Slide 8 - External influences on goal formulation Goals might be suggested by the organization’s: Owners Customers Suppliers Employees Creditors Community Government
Slide 9 - Internal function of goals Goals serve a direct internal function of setting bounds on strategy generation
Slide 10 - Internal influences on goal formulation The motivations of managers are more complex than the pursuit of goals imposed by society It may represent a conflict of personal goals with organizational goals
Slide 11 - Goal modification The organization’s goals may be modified by values, ideas,and philosophies reflected in the personal goals of management
Slide 12 - Business goals and targets Goals describe what a business must achieve in terms of specific performance indicators such as return on investment,return on assets,and return on sales
Slide 13 - Levels of goals Organizations have three levels of goals:
Slide 14 - Types of goals
Slide 15 - Goal content Effective goals must be: Challenging Attainable Specific and measurable Time limited Relevant
Slide 16 - Goal commitment Goal commitment is one’s attachment to reach a goal . Six factors influence positively goal commitment: Supervisory authority Peer and group pressure Public display of commitment Expectations of sucess Incentives and rewards Participation
Slide 17 - Potential problems with goals Excessive risk- taking Increased stress Undermined self-confidence Dishonesty and cheating
Slide 18 - Thank You